Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

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Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 11 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
Income Statement [Abstract]      
Net revenues         
Operating expenses:      
Payroll expense and stock based compensation 3,627,912 9,000 4,138,282
Exploration cost 10,949    167,312
Impaiment of mineral rights       500,000
Professional and consulting 70,987 118,815 379,236
General and administrative expenses 99,381 15,837 416,955
Total operating expenses 3,809,229 143,652 5,601,785
Loss from operations (3,809,229) (143,652) (5,601,785)
Other income (expense)      
Gain from settlement of debt    (28,244)   
Interest income (expense), net (20,221) (296,831) (381,545)
Change in fair value of derivative liabilities    (5,467,711) (680,940)
Total other expenses (20,221) (5,736,298) (1,062,485)
Net Loss $ (3,829,450) $ (5,879,950) $ (6,664,270)
NET LOSS PER COMMON SHARE:      
Basic and Diluted $ (0.02) $ (0.03) $ (0.03)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and Diluted 237,901,687 181,649,788 218,238,833