Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 10, 2015 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Trading Symbol | gqm | |
Entity Registrant Name | GOLDEN QUEEN MINING CO LTD | |
Entity Central Index Key | 1,025,362 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 99,928,683 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well Known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 |
Condensed Consolidated Interim
Condensed Consolidated Interim Balance Sheets - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash | $ 85,721,947 | $ 91,407,644 |
Receivables | 31,729 | 52,136 |
Prepaid expenses and other current assets | 1,143,721 | 114,625 |
Total current assets | 86,897,397 | 91,574,405 |
Property | 236,440 | 251,467 |
Mineral property interests | 82,330,623 | 37,138,134 |
Reclamation financial assurance | 902,382 | 553,329 |
Total Assets | 170,366,842 | 129,517,335 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 8,468,313 | 3,309,476 |
Interest payable | 374,545 | 320,721 |
Closing fee payable | 0 | 250,000 |
Notes payable | 0 | 13,881,305 |
Current portion of loan payable | 1,347,120 | 222,839 |
Derivative liability-convertible debenture | 12,414 | 1,829,770 |
Convertible debenture | 7,749,036 | 6,649,967 |
Total current liabilities | 17,951,428 | 26,464,078 |
Notes payable | 33,640,346 | 0 |
Derivative liability - warrants | 3,352,979 | 0 |
Asset retirement obligations | 902,382 | 624,142 |
Loan payable | 3,943,982 | 690,293 |
Total Liabilities | 59,791,117 | 27,778,513 |
Temporary Equity | ||
Redeemable portion of non-controlling interest | 27,434,016 | 22,833,645 |
Shareholders' Equity | ||
Common shares, no par value, unlimited shares authorized 99,928,683 (2014 - 99,778,683) shares issued and outstanding | 62,860,443 | 62,709,015 |
Additional paid-in capital | 56,390,510 | 56,390,510 |
Deficit accumulated | (77,260,267) | (74,444,816) |
Total shareholders' equity attributable to GQM Ltd. | 41,990,686 | 44,654,709 |
Non-controlling interest | 41,151,023 | 34,250,468 |
Total Shareholders' Equity | 83,141,709 | 78,905,177 |
Total Liabilities, Temporary Equity and Shareholders' Equity | $ 170,366,842 | $ 129,517,335 |
Condensed Consolidated Interim3
Condensed Consolidated Interim Balance Sheets (Parenthetical) - $ / shares None in scaling factor is -9223372036854775296 | Jun. 30, 2015 | Dec. 31, 2014 |
Common Stock, No Par Value | ||
Common Stock, Shares Authorized | ||
Common Stock, Shares, Issued | 99,928,683 | 99,778,683 |
Common Stock, Shares, Outstanding | 99,928,683 | 99,778,683 |
Condensed Consolidated Interim4
Condensed Consolidated Interim Statements of Income/(Loss) and Comprehensive Income/(Loss) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
General and administrative expenses | $ (1,991,215) | $ (2,081,950) | $ (2,730,747) | $ (3,147,208) |
Change in fair value of derivative liability including change in foreign exchange | 2,568,849 | 1,634,681 | 2,467,100 | (4,112,695) |
Total Operating Expenses | 577,634 | (447,269) | (263,647) | (7,259,903) |
Interest expense | (1,070,111) | (264,120) | (2,017,864) | (955,417) |
Loss on extinguishment of debt | (151,539) | 0 | (151,539) | 0 |
Closing fee | (1,500,000) | 0 | (1,500,000) | 0 |
Interest income | 52,383 | 5,546 | 118,525 | 14,838 |
Net and comprehensive income (loss) for the period | (2,091,633) | (705,843) | (3,814,525) | (8,200,482) |
Add: Net and comprehensive loss attributable to the non-controlling interest for the period | 712,368 | 0 | 999,074 | 0 |
Net and comprehensive income (loss) attributable to Golden Queen Mining Co Ltd. for the period | $ (1,379,265) | $ (705,843) | $ (2,815,451) | $ (8,200,482) |
Earnings (Loss) per share - basic | $ (0.01) | $ (0.01) | $ (0.03) | $ (0.08) |
Earnings (Loss) per share - diluted | $ (0.01) | $ (0.02) | $ (0.03) | $ (0.08) |
Weighted average number of common shares outstanding -basic | 99,928,683 | 99,619,562 | 99,857,412 | 99,441,099 |
Weighted average number of common shares outstanding - diluted | 99,928,683 | 109,418,434 | 99,857,412 | 99,441,099 |
Condensed Consolidated Interim5
Condensed Consolidated Interim Statements of Shareholders Equity, Non-controlling Interest and Redeemable Portion of Non-controlling Interest - USD ($) | Common Shares [Member] | Additional Paid-in Capital [Member] | Deficit Accumulated [Member] | Total Shareholders' Equity attributable to GQM Ltd [Member] | Non-controlling Interest [Member] | Redeemable Portion of Non-controlling Interest [Member] | Total |
Beginning Balance at Dec. 31, 2013 | $ 62,289,402 | $ 9,927,142 | $ (65,975,612) | $ 6,240,932 | $ 6,240,932 | ||
Beginning Balance (Shares) at Dec. 31, 2013 | 99,233,383 | ||||||
Issuance of common shares for mineral property | $ 24,480 | 24,480 | 24,480 | ||||
Issuance of common shares for mineral property (Shares) | 15,300 | ||||||
Stock options exercised | $ 395,133 | (283,712) | 111,421 | 111,421 | |||
Stock options exercised (Shares) | 530,000 | ||||||
Stock-based compensation | 233,672 | 233,672 | 233,672 | ||||
Dilution of ownership interest in subsidiary to non-controlling interest | 46,513,408 | 46,513,408 | $ 38,091,955 | $ 25,394,637 | 84,605,363 | ||
Distributions to non- controlling interest | (3,000,000) | (2,000,000) | (3,000,000) | ||||
Net loss for the period | (8,469,204) | (8,469,204) | (841,487) | (560,992) | (9,310,691) | ||
Ending Balance at Dec. 31, 2014 | $ 62,709,015 | 56,390,510 | (74,444,816) | 44,654,709 | 34,250,468 | 22,833,645 | 78,905,177 |
Ending Balance (Shares) at Dec. 31, 2014 | 99,778,683 | ||||||
Issuance of common shares as part of management agreement | $ 151,428 | 151,428 | 151,428 | ||||
Issuance of common shares as part of management agreement (Shares) | 150,000 | ||||||
Top-up contribution to non- controlling interest | 7,500,000 | 5,000,000 | 7,500,000 | ||||
Net loss for the period | (2,815,451) | (2,815,451) | (599,445) | (399,629) | (3,414,896) | ||
Ending Balance at Jun. 30, 2015 | $ 62,860,443 | $ 56,390,510 | $ (77,260,267) | $ 41,990,686 | $ 41,151,023 | $ 27,434,016 | $ 83,141,709 |
Ending Balance (Shares) at Jun. 30, 2015 | 99,928,683 |
Consolidated Interim Statements
Consolidated Interim Statements of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating activities: | ||
Net income (loss) for the period | $ (3,814,525) | $ (8,200,482) |
Adjustments to reconcile net income (loss) to cash used in operating activities: | ||
Amortization and depreciation | 15,027 | 18,223 |
Amortization of debt discount and interest accrual | 1,973,307 | 955,417 |
Change in fair value of derivative liabilities including change in foreign exchange | (2,467,100) | 4,112,695 |
Shares for services | 151,428 | 0 |
Stock-based compensation | 0 | 192,148 |
Loss on extinguishment of debt | 151,539 | 0 |
Closing fee related to long-term debt | 1,500,000 | 0 |
Unrealized foreign exchange | (497,411) | 18,369 |
Changes in assets and liabilities: | ||
Receivables | 20,407 | (14,752) |
Prepaid expenses and other current assets | (1,029,096) | (100,102) |
Accounts payable and accrued liabilities | 597,434 | 203,275 |
Interest payable | (797,945) | 0 |
Cash used in operating activities | (4,196,935) | (2,815,209) |
Investment activities: | ||
Additions to mineral property interests | (34,389,709) | (7,250,113) |
Purchase of financial assurance | (349,053) | 0 |
Cash used in investing activities | (34,738,762) | (7,250,113) |
Financing activities: | ||
Top-up contribution | 12,500,000 | 0 |
Borrowing under long-term debt | 25,000,000 | 0 |
Repayment of short-term debt | (2,500,000) | 0 |
Borrowing under short-term debt | 0 | 10,000,000 |
Closing fees related to short-term debt capitalized to the loan | (250,000) | 0 |
Closing fees related to long-term debt | (1,500,000) | 0 |
Issuance of common shares upon exercise of stock options | 0 | 111,421 |
Cash provided by financing activities | 33,250,000 | 10,111,421 |
Net change in cash | (5,685,697) | 46,099 |
Cash, Beginning balance | 91,407,644 | 5,030,522 |
Cash, Ending balance | $ 85,721,947 | $ 5,076,621 |
Basis of Presentation and Abili
Basis of Presentation and Ability to Continue as a Going Concern | 6 Months Ended |
Jun. 30, 2015 | |
Basis of Presentation and Ability to Continue as a Going Concern [Text Block] | 1. Basis of Presentation and Ability to Continue as a Going Concern The accompanying unaudited condensed consolidated interim financial statements and notes to the unaudited condensed consolidated interim financial statements contain all adjustments, consisting of normal recurring items, necessary to present fairly, in all material respects, the financial position of Golden Queen Mining Co. Ltd. and its consolidated subsidiaries. These unaudited condensed consolidated interim financial statements should be read in conjunction with our audited consolidated financial statements and related footnotes as set forth in our annual report filed on Form 10-K for the year ended December 31, 2014, as it may be amended from time to time. The results of operations for the periods presented may not be indicative of those which may be expected for a full year. The unaudited condensed consolidated interim financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although we believe that the disclosures are adequate for the information not to be misleading. The Company has had no revenues from operations since inception and as at June 30, 2015 had a deficit of $77,260,267 (December 31, 2014 - $74,444,816) and working capital of $68,945,969 (December 31, 2014 - $65,110,327). The Company and its 50%-owned subsidiary, GQM LLC, are a going concern as both have sufficient funds to meet their contractual obligations for the next twelve months. The Company however has a $37.5 million loan maturing on December 8, 2016. Golden Queen, on a non-consolidated basis, currently does not have sufficient funds to repay this loan. This raises substantial doubt about this entity’s ability to continue as a going concern. The Company is evaluating its options, including debt and equity, to re-finance the June 2015 Loan before or at maturity. |
Property
Property | 6 Months Ended |
Jun. 30, 2015 | |
Property [Text Block] | 2. Property Property consists of: June 30, 2015 December 31, 2014 Land $ 109,600 $ 109,600 Rental properties 324,566 324,566 Property, cost 434,166 434,166 Less accumulated depreciation (197,726 ) (182,699 ) Property, net $ 236,440 $ 251,467 |
Mineral Property Interests
Mineral Property Interests | 6 Months Ended |
Jun. 30, 2015 | |
Mineral Property Interests [Text Block] | 3 . Mineral Property Interests In July 2012, the Company received notice that it had met all the remaining major conditions of the conditional use permits for development of the Project and began capitalizing all development expenditures directly related to the Project. Prior to July 2012, all acquisition costs were expensed due to uncertainties around obtaining the necessary permits. Components of capitalized costs related to the mineral properties as of June 30, 2015 and December 31, 2014 are as follows: June 30, 2015 December 31, 2014 Mineral property interest, land and claims $ 3,811,821 $ 3,299,319 Deferred mine development costs 73,509,565 31,020,717 Asset retirement costs 550,807 272,567 Capitalized interest 3,997,182 2,412,015 Capitalized depreciation 461,248 133,516 Balance, end of the period $ 82,330,623 $ 37,138,134 As at June 30, 2015, included in deferred mine development costs are buildings and equipment with a total accumulated cost of $9,085,651 (December 31, 2014 - $2,424,635). Total additions during the three and six months ended June 30, 2015 were $2,553,646 and $6,661,016 (Three and six months ended June 30, 2014 - $107,228 and $183,585). During the three and six months ended June 30, 2015, depreciation of $212,669 and $327,732 (Three and six months ended June 30, 2014 - $14,270 and $21,100) relating to these assets was capitalized within deferred mine development. The Company is capitalizing a portion of the interest expense related to the convertible debenture and loan in accordance with its accounting policy. See Note 7 (vi) –Amortization of Discount and Interest Expense. |
Share Capital
Share Capital | 6 Months Ended |
Jun. 30, 2015 | |
Share Capital [Text Block] | 4. Share Capital The Company’s common shares outstanding have no par value, and are voting shares with no preferences or rights attached to them. Common shares - 2015 In March 2015, the Company issued 150,000 common shares to the President of the Company for achieving two of the three milestones outlined in his management agreement (See Note 6 – Commitments and Contingencies). The common shares had a total fair value of $151,428 (Note 7(i)). The fair value was based on the market price on the date of issuance. Common shares - 2014 In May 2014, 300,000 stock options were exercised and the Company issued 300,000 common shares at $0.21 per share for proceeds of $63,000. The total transferred to share capital from additional paid-in capital upon exercise of stock options was $160,592. In April 2014, 170,000 stock options were exercised and the Company issued 170,000 common shares at $0.21 per share for proceeds of $35,700. The total transferred to share capital from additional paid-in capital upon exercise of stock options was $91,002. In February 2014, the Company issued 15,300 common shares for mineral property interests with a total fair value of $24,480. The fair value was based on the market price on the date of issuance. In February 2014, 60,000 stock options were exercised and the Company issued 60,000 common shares at $0.21 per share for proceeds of $12,721. The total transferred to share capital from additional paid-in capital upon exercise of stock options was $32,118. Stock options The Company has elected to use the Black-Scholes option pricing model to determine the fair value of stock options granted. In accordance with the accounting standard for employees, the compensation expense is amortized on a straight-line basis over the requisite service period, which approximates the vesting period. Compensation expense for stock options granted to non-employees is amortized over the contract services period or, if none exists, from the date of grant until the options vest. Compensation associated with unvested options granted to non-employees is remeasured on each balance sheet date using the Black-Scholes option pricing model. The following is a summary of stock option activity during the six months ended June 30, 2015 and June 30, 2014: Weighted Average Shares per Share Options outstanding, December 31, 2013 1,380,000 $ 0.87 Options exercised (530,000 ) $ 0.21 Option outstanding, June 30, 2014 850,000 $ 1.27 Options exercisable, June 30, 2014 650,000 $ 1.29 Options forfeited (100,000 ) $ 1.16 Option outstanding and exercisable, December 31, 2014 750,000 $ 1.29 Options expired (50,000 ) $ 1.22 Options outstanding and exercisable, June 30, 2015 700,000 $ 1.30 There were no stock options issued during the three and six months ended June 30, 2015 and June 30, 2014. During the three and six months ended June 30, 2015, the Company recognized $Nil and $Nil (Three and six months ended June 30, 2014 - $96,074 and $192,148) in stock-based compensation relating to employee stock options that have vesting terms. During the year ended December 31, 2014, the Company recognized $233,672 (2013 - $475,263) in stock-based compensation relating to employee stock options that have vesting terms. This included a reversal of $46,245 (2013 - $Nil) in stock based compensation related to forfeited stock options. As at June 30, 2015, the aggregate intrinsic value of the outstanding exercisable options was $Nil (December 31, 2014 - $Nil). The total intrinsic value of 530,000 options exercised during 2014 was approximately $754,513. There were no options exercised in the three and six months ended June 30, 2015. The following table summarizes information about stock options outstanding and exercisable at June 30, 2015: Weighted Number Average Outstanding Remaining Expiry and Contractual Life Exercise Date Exercisable (Years) Price November 11, 2015 200,000 0.37 $1.16 June 3, 2018 50,000 2.93 $1.16 September 3, 2018 150,000 3.18 $1.59 September 18, 2018 300,000 3.22 $1.26 Outstanding, June 30, 2015 700,000 2.38 Exercisable, June 30, 2015 700,000 2.38 Share Purchase Warrants During the six months ended June 30, 2015, the Company granted 10,000,000 share purchase warrants. The following is a summary of the share purchase warrant activity: June 30, 2015 December 31, 2014 Balance, beginning of the period $ - $ - Issued 10,000,000 - Balance, end of the period $ 10,000,000 $ - Weighted Average Remaining Expiry Number Contractual Life Exercise Date Outstanding (Years) Price June 8, 2020 10,000,000 4.94 $ 0.95 |
Asset Retirement Obligations
Asset Retirement Obligations | 6 Months Ended |
Jun. 30, 2015 | |
Asset Retirement Obligations [Text Block] | 5. Asset Retirement Obligations The Company is required to provide the Bureau of Land Management, the State Office of Mine Reclamation and Kern County with a revised reclamation cost estimate annually. The financial assurance is adjusted once the cost estimate is approved. The Company’s provision for reclamation of the property is estimated each year by an independent consulting engineer. This estimate, once approved by state and county authorities, forms the basis for a cash deposit of reclamation financial assurance. The reclamation estimate for 2015 is $624,142 (December 31, 2014 - $624,142). In addition to the above, the Company is required to obtain and maintain financial assurance for initiating and completing corrective action and remediation of a reasonably foreseeable release from the Project’s waste management units as required by the Lahontan Regional Water Quality Control Board (the “Regional Board”). The reclamation estimate for 2015 is $278,240 (December 31, 2014 - $Nil). The Company has provided reclamation financial assurance to the Bureau of Land Management, the State and Kern County and a reasonably foreseeable release financial assurance to the Regional Board totaling $902,382 (December 31, 2014 - $553,329 ; June 30, 2014 - $478,739). The total asset retirement obligation as of June 30, 2015 is $902,382 (December 31, 2014 - $624,142 ; June 30, 2014 - $552,250). The Company estimated its asset retirement obligations based on its understanding of the requirements to reclaim and clean-up its property based on its activities to date. During the three and six months ended June 30, 2015, there was an increase of $278,240 to the retirement obligations as compared with the year ended December 31, 2014, where $71,892 was capitalized to mineral property interests as the asset portion of the retirement obligation. The amount was capitalized as the Company is in the development stage and is capitalizing all of its development costs pursuant to our policy. The following is a summary of asset retirement obligations: June 30, December 31, 2015 2014 Balance, beginning of the period $ 624,142 $ 552,250 Changes in cash flow estimates 278,240 71,892 Balance, end of the period $ 902,382 $ 624,142 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies [Text Block] | 6. Commitments and Contingencies Property rent payments (Advance minimum royalties) The Company has acquired a number of mineral properties outright. It has acquired exclusive rights to explore, develop and mine other portions of the Project under various mining lease agreements with landowners. The Company is required to make property rent payments related to its mining lease agreements with landholders, in the form of advance minimum royalties. The total property rent payments for the three and six month periods ended June, 2015 were $50,167 and $60,167 (Three and six months ended June 30, 2014 - $65,500 and $99,980 of which $24,480 related to common shares issued), and the Company is expected to make approximate payments of $140,000 in 2015 to various landowners under the existing lease agreements. The payments will cease if and when the Company goes into production and then begins paying royalty payments on production yields. There are multiple third party landholders and the royalty amount due to each landholder over the life of the Project varies with each property. Finder’s fee The Company has agreed to issue 100,000 common shares as a finder’s fee in connection with certain property acquisitions upon commencement of commercial production of the Project. As of June 30, 2015, commercial production has not commenced and no shares have been issued. Management agreement In 2004, the Company entered into an agreement with the President of the Company to issue 300,000 bonus shares upon completion of certain milestones. Upon receipt by the Company of a bankable feasibility study and the decision to place the Property into commercial production (Achieved), a bonus of 150,000 (Issued) common shares would be issued. Upon commencement of commercial production on the Property, a further bonus of 150,000 common shares would be issued. In May 2010, the Company entered into an amendment to the agreement whereby the 300,000 bonus shares would alternatively be issuable upon a change of control transaction, or upon a sale of all or substantially all of the Company’s assets, having a value at or above C$1.00 per share of the Company, with a further 300,000 bonus shares being issuable in the event the change of control transaction or asset sale occurred at a value at or above C$1.50 per share. This amended agreement is for a term of three years and shall automatically renew for two years. The first of two milestones was reached during the first quarter of 2015 and as a result 150,000 bonus shares, valued at $151,428, were issued to H. Lutz Klingmann on March 27, 2015. In May 2015, the Company replaced the President’s management agreement with an employment agreement. In addition to the previously mentioned bonus shares issuable upon commencement of commercial production, included in the agreement with the President is a provision that if the President’s position is lost upon a change of control or within six months of a change of control the President would be entitled to a one-time payment equal to twice the annual salary C$438,000 total plus twice the annual bonus. The annual bonus is determined by the Board subsequent to a review of the President’s performance. In 2013, the Company entered into an employment agreement with the Chief Financial Officer (“CFO”). Included in the agreement with the CFO is a provision that if the CFO’s position is lost upon a change of control or within six months of a change of control the CFO would be entitled to a one-time payment equal to twice the annual salary, C$300,000 total, plus twice the annual bonus. The annual bonus is determined by the Board subsequent to a review of the CFO’s performance. Compliance with Environmental Regulations The Company’s exploration and development activities are subject to laws and regulations controlling not only the exploration and mining of mineral properties, but also the effect of such activities on the environment. Compliance with such laws and regulations may necessitate additional capital outlays or affect the economics of a project, and cause changes or delays in the Company’s activities. Mine Development Commitments As of June 30, 2015, GQM LLC has entered into contracts for construction totaling approximately $58.0 million, of which $26.2 million remains to be paid. The major commitments relate to the construction of the crushing-screening plant for $18.1 million, the construction of the Phase 1, Stage 1 heap leach pad for $8.3 million, the construction of the conveying and stacking system for $8.2 million and work related to the Merrill-Crowe plant equipment for $7.1 million. The commitments are expected to be paid out in 2015. GQM LLC made approximately $4.0 million in additional construction commitments subsequent to June 30, 2015. In addition, GQM LLC committed, as of June 30, 2015, to $16.6 million of Komatsu mobile mining equipment with Road Machinery LLC. As of June 30, 2015, GQM LLC received the water truck, a motor grader, three dozers, two articulated trucks and two excavators valued at approximately $6.8 million (see Note 10 of the unaudited condensed consolidated interim financial statements for more details). Please refer to Subsequent Events – Note 14 for additional commitments entered into by the Company subsequent to June 30, 2015. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2015 | |
Related Party Transactions [Text Block] | 7. Related Party Transactions Except as noted elsewhere in these consolidated financial statements, related party transactions are disclosed as follows: (i) Consulting Fees For the three and six months ended June 30, 2015, the Company paid $12,378 and $201,312 (Three and six months ended June 30, 2014 - $39,032 and $84,059) to Mr. H. Lutz Klingmann for services as President of the Company of which $Nil (December 31, 2014 - $Nil ; June 30, 2014 - $13,797) is payable as at June 30, 2015. Included in the consulting fees for the six months ended June 30, 2015 was $151,428 (Six months ended June 30, 2014 - $Nil) related to 150,000 bonus shares issued in accordance with Mr. Klingmann’s management agreement (Refer to Note 6 – Commitments and Contingencies of the unaudited condensed consolidated interim financial statements). On May 1, 2015 Mr. Klingmann became an employee of the Company and his salary, since that date, is included under corporate salary expenses. During the three and six months ended June 30, 2015, the Company paid a total of $18,414 and $36,852 respectively (2014 - $11,815 and $23,439, respectively) for regular director fees to the three independent directors and Thomas M. Clay. Mr. Clay did not receive directors’ fees during the three and six months ended June 30, 2014. (ii) Convertible Debentures On July 26, 2013, the Company entered into agreements to issue convertible debentures for aggregate proceeds of C$10,000,000 ($9,710,603), from a significant shareholder group. The convertible debentures are unsecured and bear interest at 2% per annum, calculated on the outstanding principal balance, payable annually. The principal amounts of the notes are convertible into shares of the Company at a price of C$1.03 per share for a period of two years. If the notes have not been converted by the holder prior to the maturity date, then the Company may convert them at the lower of C$1.03 or the market price as at the maturity date. Subsequent to June 30, 2015, the convertible debenture was repaid. Refer to Subsequent Events – Note 14 for complete details. The market price on the maturity date will be determined based on the volume- weighted average price of the shares traded on the Toronto Stock Exchange for the five trading days preceding the maturity date. A total of C$7,500,000 of the offering was subscribed for by an investment vehicle managed by Thomas M. Clay, a Director and insider of the Company. The Company agreed to pay the legal fees incurred by the lenders relating to this instrument which amounted to $10,049. The conversion feature of the convertible debentures meets the definition of a derivative liability instrument because the conversion feature is denominated in a currency other than the Company’s functional currency as well as the fact the exercise price is not a fixed price as described above. Therefore, the conversion feature does not meet the “fixed-for-fixed” criteria outlined in ASC 815-40-15. As a result, the conversion feature of the notes is required to be recorded as a derivative liability recorded at fair value and marked-to-market each period with the changes in fair value each period being charged or credited to income or loss. The fair value of the derivative liability related to the conversion feature as at June 30, 2015 is $12,414 (December 31, 2014 - $1,829,770). The derivative liability was calculated using an acceptable option pricing valuation model with the following assumptions: 2015 2014 Risk-free interest rate 0.49% - 0.50% 1.00% - 1.09% Expected life of derivative liability 0.07 - 0.32 years 0.57 - 1.32 years Expected volatility 49.36% - 77.00% 73.03% - 98.21% Dividend rate 0.00% 0.00% The changes in the derivative liability related to the conversion feature are as follows: June 30, 2015 December 31, 2014 Balance, beginning of the period $ 1,829,770 $ 2,833,987 Change in fair value of derivative liability including foreign exchange (1,817,356 ) (1,004,217 ) Balance, end of the period $ 12,414 $ 1,829,770 The change in the convertible debentures is as follows: June 30, 2015 December 31, 2014 Balance, beginning of the period $ 6,649,967 $ 4,642,620 Discounted convertible debentures - - Amortization of discount 1,590,551 2,510,611 Foreign exchange (491,482 ) (503,264 ) Balance, end of the period $ 7,749,036 $ 6,649,967 During the three and six months ended June 30, 2015, in addition to the amortization of the discount on the convertible debenture, the Company incurred interest expense of $40,301 and $80,586, respectively (Three and six months ended June 30, 2014 - $45,799 and $91,516, respectively) based on the 2% per annum stated interest rate for a total amortization of discount and interest expense of $882,982 and $1,671,137 for the three and six months ended June 30, 2015 (Three and six months ended June 30, 2014 - $638,837 and $1,205,134, respectively). Interest payable relating to the convertible debenture as at June 30, 2015 was $145,378 (December 31, 2014 - $70,721). (iii) Notes Payable On January 1, 2014, the Company entered into an agreement to secure a $10,000,000 loan (the “January Loan”). The January Loan was provided by members of the Clay family, who are shareholders of the Company, including $7,500,000 provided by an investment vehicle managed by Thomas M. Clay, a Director and insider of the Company. The January Loan had a twelve-month term and an annual interest rate of 5%, payable on the maturity date. The January Loan was repaid on a date that is less than 183 days before the maturity date. As a result, the Company paid the Lenders an additional charge in the amount that is equivalent to 5% of the principal amount, plus interest on the principal amount at the rate of 5% per annum accrued to the date the January Loan was repaid. The Company repaid $7,500,000 loan plus the $375,000 accrued interest and $375,000 additional charge on December 31, 2014. The remaining balance of the loan, $2,500,000, the accrued interest of $125,000 and the additional charge of $125,000, were paid on January 5, 2015. In total, the Company incurred $500,000 in interest expense and $500,000 in additional charge related to the January Loan. On December 31, 2014 the Company also entered into a new loan (the “December Loan”) with the same parties for an amount of $12,500,000. The December Loan is due on demand on July 1, 2015 and bears an annual interest rate of 10% payable at the end of each quarter. The loan is guaranteed by GQM Holdings, and secured by a pledge of the Company's interests in GQM Canada, GQM Canada’s interest in GQM Holdings and GQM Holdings' 50% interest in GQM LLC. The Company also incurred a closing fee to secure the loan in the amount of $1,000,000, of which, $750,000 was paid on December 31, 2014 and the remaining $250,000 was paid on January 5, 2015. The Company agreed to pay the legal fees incurred by the lenders relating to this instrument which amounted to $90,916. The total legal fees paid for the transaction were $118,695. The Company also agreed to provide the lenders with the option for certain registration rights whereby the Company would bear the costs and responsibility of registering the lenders common shares for the purposes of disposition subsequent to July 1, 2015. The Company has determined it is unlikely the registration option would be exercised and therefore has not accrued any potential costs related to the registration of the common shares. The Company has presented these transaction costs as a contra liability as substantially all of these costs were paid to the lenders. On June 8, 2015, the Company amended the December Loan to extend the maturity to December 8, 2016 and increasing the principal amount from $12,500,000 to $37,500,000 (the “June 2015 Loan”). The Company also issued 10,000,000 common share purchase warrants exercisable for a period of five years expiring June 8, 2020. The common share purchase warrants have an exercise price of $0.95. All other terms remained the same as the December Loan. The Company also incurred a closing fee to secure the loan in the amount of $1,500,000, all of which was paid on June 8, 2015. The Company agreed to pay the legal fees incurred by the lenders relating to this instrument which amounted to $46,408. The legal fees were expensed as the transaction met the definition of a debt extinguishment. The terms of the registration rights remains unchanged as does the Company’s assessment of the likelihood of the registration rights being exercised. As such, as of June 30, 2015, no accrual has been made for the potential costs related to the registration rights. June 30, 2015 December 31, 2014 Balance, beginning of the period $ 13,881,305 $ - Fair value at inception 33,497,277 22,500,000 Repayment of loans (2,500,000 ) (7,500,000 ) Amortization of closing and legal fees 967,156 - Amortization of discount on the June Loan 143,069 - Extinguishment of the December Loan (12,500,000 ) - Loss on extinguishment of debt 151,539 - Capitalized closing fee and legal fees - (1,118,695 ) Balance, end of the period $ 33,640,346 $ 13,881,305 Interest payable relating to the June 2015 Loan as at June 30, 2015 was $229,167 (December 31, 2014 - $250,000 – of which $125,000 was interest expense and $125,000 related to the additional charge for the January Loan). (iv) Share Purchase Warrants On June 8, 2015 the Company issued 10,000,000 share purchase warrants to the Clay family in connection with the June 2015 Loan. The share purchase warrants are exercisable until June 8, 2020 at an exercise price of $0.95. Included in the June 2015 Loan agreement was an anti-dilution provision. If the Company were to complete a financing at a share price lower than the exercise price of the share purchase warrants, the exercise price of the share purchase warrants would be adjusted to match the price at which the financing was completed. The share purchase warrants meet the definition of a derivative liability instrument as the exercise price is not a fixed price as described above. Therefore, the settlement feature does not meet the “fixed-for-fixed” criteria outlined in ASC 815-40-15. The fair value of the derivative liability related to the share purchase warrants as at June 30, 2015 is $3,352,979 (December 31, 2014 - $Nil). The derivative liability was calculated using an acceptable option pricing valuation model with the following assumptions: 2015 2014 Risk-free interest rate 0.81% - 1.02% - Expected life of derivative liability 4.94 - 5 years - Expected volatility 72.29% - 72.52% - Dividend rate 0.00% - The change in the derivative share purchase warrants is as follows: June 30, 2015 December 31, 2014 Balance, beginning of the period $ - $ - Fair value at inception 4,002,723 - Change in fair value (649,744 ) - Balance, end of the period $ 3,352,979 $ - (v) Advance In July 2014, GQM Inc. entered into a $10,000,000 short-term advance agreement (the “Advance”) with Leucadia and Auvergne (collectively, the “Lenders”), with the Company as guarantor. Leucadia provided $6,500,000 of the loan and Auvergne provided $3,500,000. The Advance had an interest rate of 10.0% per annum, compounded monthly. Auvergne is an investment vehicle managed by Thomas M. Clay, a Director and insider of the Company. On closing of the Joint Venture Transaction on September 15, 2014, GQM LLC applied part of the investment of $110,000,000 to repayment of principal and accrued interest on the $10,000,000 bridge loan advanced by the Lenders in July 2014. GQM LLC paid $209,607 in interest payment, including $73,632 paid to Auvergne on the July 2014 Advance, of which $45,264 was capitalized to mineral property interests. (vi) Amortization of Discounts and Interest Expense The following table summarizes the amortization of discounts and interest on loans and convertible debentures: Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Interest expense related to the convertible debentures $ 40,301 $ 45,799 $ 80,586 $ 91,516 Interest expense related to the January 2014 loans - 616,096 - 741,096 Interest expense related to the December 2014 loans 236,301 - 547,945 - Interest expense related to the June 2015 loans 229,167 - 229,167 - Interest expense related to Komatsu Financial loans 31,146 - 44,558 - Amortization of debt discount on the convertible debentures 842,681 593,038 1,590,551 1,113,618 Amortization of the December 2014 loan closing fees 430,427 - 967,155 - Amortization of the June 2015 loan discount 143,069 - 143,069 - Amortization of discount and interest on loan and convertible debentures $ 1,953,092 $ 1,254,933 $ 3,603,031 $ 1,946,230 The Company’s loans were contracted to fund significant development costs. The Company capitalizes a portion of the interest expense as it related to funds borrowed to complete development activities at the Project site. Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Amortization of discounts and interest on loan, advance and convertible debenture $ 1,953,092 $ 1,254,933 $ 3,603,031 $ 1,946,230 Less: Interest costs capitalized (882,983 ) (990,813 ) (1,585,167 ) (990,813 ) Amortization of discounts and interest expensed $ 1,070,111 $ 264,120 $ 2,017,864 $ 955,417 (vii) Joint Venture Transaction On September 15, 2014, the Company closed the Joint Venture Transaction with Gauss resulting in both parties owning a 50% interest in the Project. Pursuant to the Joint Venture Transaction, Golden Queen converted its wholly-owned subsidiary GQM Inc., the entity developing the Project, into a California limited liability company named GQM LLC. On closing of the transaction, Gauss acquired 50% of GQM LLC by investing $110 million cash in exchange for newly issued membership units of GQM LLC. GQ Holdings, a newly incorporated subsidiary of the Company, holds the other 50% of GQM LLC. Gauss is a funding vehicle owned by entities controlled by Leucadia National Corporation (NYSE: LUK) (“Leucadia”) and certain members of the Clay family, a shareholder group which collectively owned approximately 27% of the issued and outstanding shares of Golden Queen (the “Clay Group”) at the time of the transaction. Gauss is owned 67.5% by Gauss Holdings LLC (“Gauss Holdings”, Leucadia’s investment entity) and 32.5% by Auvergne LLC (“Auvergne”, the Clay Group’s investment entity). Pursuant to the transaction, Leucadia was paid a transaction fee of $2,000,000 and $275,000 was paid to Auvergne through GQM LLC. The Company has adopted an accounting policy of expensing these transaction costs. Variable Interest Entity In accordance with ASC 810-10-30, the Company has determined that GQM LLC meets the definition of a VIE and that the Company is part of a related party group that, in its entirety, would meet the definition of a primary beneficiary. Although no individual variable interest holder individually meets the definition of a primary beneficiary in the absence of the related party group, Golden Queen has determined it is considered the member of the related party group most closely associated with GQM LLC. As a result, the Company has consolidated 100% of the accounts of GQM LLC in these consolidated financial statements, while presenting a non-controlling interest portion representing the 50% interest of Gauss in GQM LLC on its balance sheet. A portion of the non-controlling interest has been presented as temporary equity on the Company’s balance sheet representing the initial value of the non-controlling interest that could potentially be redeemable by Gauss in the future. The net assets of GQM LLC as of June 30, 2015 and December 31, 2014 are as follows: June 30, 2015 December 31, 2014 Assets, GQM LLC $ 79,517,574 $ 118,937,371 Liabilities, GQM LLC (14,690,770 ) (4,769,144 ) Net assets, GQM LLC $ 64,826,804 $ 114,168,227 Included in the assets above, is $71,275,286 (December 31, 2014 - $83,282,403) in cash held as at June 30, 2015. The cash in GQM LLC is directed specifically to fund capital expenditures required to take the Project to production and settle GQM LLC’s obligations. The liabilities of GQM LLC do not have recourse to the general credit of the primary beneficiary. Non-Controlling Interest In accordance with ASC 810, the Company has presented Gauss’ ownership in GQM LLC as a non-controlling interest amount on the balance sheet within the equity section. However, the Amended and Restated Limited Liability Company Agreement (“LLC Agreement”) contains terms within Section 12.5 that provides for the exit from the investment in GQM LLC for an initial member whose interest in GQM LLC becomes less than 20%. The following is a summary of the terms of the clause: Pursuant to Section 12.5, if a member becomes less than a 20% interest holder, its remaining unit interest will (ultimately) be terminated through one of three events at the non-diluted member’s option within 60 days of the diluted member’s interest dropping below 20% (the “triggering event”): a. Through conversion to a net smelter royalty (“NSR”) (in which case the conversion ratio is based on a pro rata percentage, determined on a linear basis, based on the following: 0 - 20% membership interest translates to 0 - 5% NSR) obligation of GQM LLC; b. Through a buy-out (at fair value) by the non-diluted member; or c. Through a sale process by which the diluted member’s interest is sold • If such sale process does not result in a binding offer acceptable to the non- diluted member within six months after the election by the non-diluted member, the sale process terminates and the non-diluted member has 15 days to choose between (a) and (b). If the non-diluted member does not make an election pursuant to the above within 60 days, the diluted member may choose (a) or (b) above. If no election is made by the diluted member, option (a) is deemed to have been elected. This clause in the Joint Venture Transaction constitutes contingent redeemable equity as outlined in Accounting Series Release No. 268 (“ASR 268”) and has been classified as temporary equity. On initial recognition the amount of the temporary equity is calculated using the guidance that specifies that the initial measurement of redeemable instruments should be the carrying value. The amount allocated to temporary equity and the permanent equity on initial recognition is shown below. Temporary equity represents the amount of redeemable equity within Gauss’ ownership interest in the net assets of GQM LLC. The remaining 60% of their interest is considered permanent equity as it is not redeemable. September 15, 2014 Net assets, GQM LLC before Joint Venture Transaction $ 16,973,184 Investment by Gauss 110,000,000 Net assets, GQM LLC after Joint Venture Transaction 126,973,184 Gauss’ ownership percentage 50% Net assets of GQM LLC attributable to Gauss $ 63,486,592 Allocation of non-controlling interest between permanent equity and temporary equity: Permanent non-controlling interest ( 60% of total non- controlling interest) $ 38,091,955 Temporary non-controlling interest ( 40% of total non- controlling interest) $ 25,394,637 Subsequent to the initial transaction, the carrying value of the non-controlling interest will be adjusted for net income and loss, distributions and contributions pursuant to ASC 810-10 based on the same percentage allocation used to calculate the initial book value of temporary equity. June 30, 2015 December 31, 2014 Net and comprehensive loss in GQM LLC $ (1,998,148 ) $ (2,804,957 ) Non-controlling interest percentage 50% 50% Net and comprehensive loss attributable to non- controlling interest (999,074 ) (1,402,479 ) Net and comprehensive loss attributable to permanent non-controlling interest $ (599,445 ) $ (841,487 ) Net and comprehensive loss attributable to temporary non-controlling interest $ (399,629 ) $ (560,992 ) Permanent Non- Temporary Non- Controlling Interest Controlling Interest Carrying value of non-controlling interest, December 31, 2014 $ 34,250,468 $ 22,833,645 Capital contribution 7,500,000 5,000,000 Net and comprehensive loss for the period (599,445 ) (399,629 ) Carrying value of non-controlling interest , June 30, 2015 $ 41,151,023 $ 27,434,016 Permanent Non- Temporary Non- Controlling Interest Controlling Interest Carrying value of non-controlling interest, September 15, 2014 $ 38,091,955 $ 25,394,637 Distributions to non-controlling interest (3,000,000 ) (2,000,000 ) Net and comprehensive loss for the period (841,487 ) (560,992 ) Carrying value of non-controlling interest , December 31, 2014 $ 34,250,468 $ 22,833,645 Dilution of Interest in Subsidiary As a result of the Joint Venture Transaction, the Company’s interest in GQM LLC was diluted from 100% to 50% and ordinarily, the Company would recognize a charge on dilution. However, since the transaction was with a related party and the Company retained control, the excess has not been recognized in net income but rather has been recorded in equity as an increase to APIC based on guidance provided in ASC 810-10-55-4D and -4E. September 15, 2014 Investment by Gauss $ 110,000,000 Less: Initial carrying value of permanent equity (38,091,955 ) Initial carrying value of temporary equity (25,394,637 ) Effect of dilution of subsidiary recorded to APIC $ 46,513,408 Management Agreement GQM LLC is managed by a board of managers comprising an equal number of representatives of each of Gauss and GQ Holdings. The initial officers of GQM LLC were H. Lutz Klingmann as Chief Executive Officer, and Andrée St-Germain as Chief Financial Officer. Subsequent to June 30, 2015, Robert C. Walish Jr. was appointed to replace Mr. Klingmann as Chief Executive Officer of GQM LLC. Bryan A. Coates was appointed to the GQM LLC Board of Managers as a nominee of the Company, replacing Mr. Klingmann. As long as a member of the Clay family holds greater that 25% of the Company, the Clay Group is entitled to appoint one of the Company’s representatives to the GQM LLC board of managers. Capital Contribution Agreement Pursuant to the Joint Venture Transaction, GQ Holdings’ made a single capital contribution to GQM LLC of $12.5 million on June 15, 2015. Gauss funded an amount equal to GQM Holdings’ capital contribution to GQM LLC, and the aggregate amount of $25 million is anticipated to provide GQM LLC with the necessary funds to fully develop the Project. Both partners will maintain their 50% ownership of the Project. Standby Commitment Golden Queen also entered into a backstop guarantee agreement with Gauss (the “Backstop Agreement”) whereby, if the Company conducts a rights offering, Gauss has agreed to purchase, upon the terms set forth in the Backstop Agreement, any common shares which have not been acquired pursuant to the exercise of rights under the Rights Offering at a purchase price to be determined but not to exceed $1.10 per common share, up to a maximum amount of $45 million in the aggregate. In consideration for entering into the Backstop Agreement, on closing of the Joint Venture, the Company paid Leucadia and Auvergne a standby guarantee fee of $2,250,000, of which $731,250 was paid to Auvergne. The Transaction Agreement and Backstop Agreement contemplated that the Company would file a registration statement in connection with the rights offering by October 15, 2014. The Company has decided not to proceed with a rights offering, and as a result the standby commitment has expired. |
Supplementary Disclosures of Ca
Supplementary Disclosures of Cash Flow Information | 6 Months Ended |
Jun. 30, 2015 | |
Supplementary Disclosures of Cash Flow Information [Text Block] | 8. Supplementary Disclosures of Cash Flow Information June 30, 2015 June 30, 2014 Cash paid during period for: Interest $ 589,553 $ - Income taxes $ - $ - Non-cash financing and investing activities: Stock-based compensation $ - $ 192,148 Common shares issued as part of a management agreement $ 151,428 $ - Common shares issued for mineral property $ - $ 24,480 Mineral property acquired through issuance of debt $ 4,377,970 $ - Mineral property expenditures included in accounts payable $ 7,658,456 $ 228,071 Non-cash interest cost capitalized to mineral property interests $ 1,585,167 $ 990,813 Non-cash amortization of discount and interest expense $ 1,973,307 $ 955,417 |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings (Loss) Per Share [Text Block] | 9. Earnings (Loss) Per Share Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Numerator: Net income (loss) – numerator for basic EPS $ (1,379,265 ) $ (705,843 ) $ (2,815,451 ) $ (8,200,482 ) Amortization of discount - - - - Change in derivative liability – Convertible debentures - (1,634,681 ) - - Change in derivative – Warrants - - - - Numerator for diluted EPS $ (1,379,265 ) $ (2,340,524 ) $ (2,815,451 ) $ (8,200,482 ) Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Denominator: Denominator for basic EPS 99,928,683 99,619,562 99,857,412 99,441,099 Effect of dilutive securities: Employee stock options - 90,134 - - Convertible debenture - 9,708,738 - - Warrants - Denominator for diluted EPS 99,928,683 109,418,434 99,857,412 99,441,099 Basic earnings(loss) per share $ (0.01 ) $ (0.01 ) $ (0.03 ) $ (0.08 ) Diluted loss per share $ (0.01 ) $ (0.02 ) $ (0.03 ) $ (0.08 ) For the three month periods ended June 30, 2015 and 2014, 700,000 and 150,000 options were not included above as their impact would be anti-dilutive. For the six month periods ended June 30, 2015 and 2014, 700,000 and 850,000 options were not included above as their impact would be anti-dilutive. For the three and six months ended June 30, 2015, 10,000,000 and nil (Three and six months ended June 30, 2014 – nil and nil) warrants were not included above as their impact would be anti-dilutive. For the three and six months ended June 30, 2015 and for the six months ended June 30, 2014, the convertible debentures were not included above as their impact would be anti-dilutive. The convertible debenture was included in the calculation for the three months ended June 30, 2014. |
Loan Payable
Loan Payable | 6 Months Ended |
Jun. 30, 2015 | |
Loan Payable [Text Block] | 10. Loan Payable The Company entered into seven financing agreements with Komatsu Financial during the period for two crawler dozers, two articulated trucks, two excavators and a wheeled dozer. The agreements are as follows: June 30, 2015 December 31, 2014 Motor Grader – Acquired on December 5, 2014 for a total purchase price of $291,146 including financing fees. The loan is payable over 4 years and carries an annual interest rate of 1.80% and a monthly payment of $5,268, principal and interest. The Company made a down payment of $47,335. $ 214,286 $ 243,811 Water Wagon – Acquired on November 6, 2014 for a total purchase price of $815,374 including financing fees. The loan is payable over 4 years and carries an annual interest rate of 2.99% and a monthly payment of $15,109, principal and interest. The Company made a down payment of $132,646. 588,171 669,321 Crawler Dozer (Small) – Acquired on February 17, 2015 for a total purchase price of $822,750 including financing fees. The loan is payable over 4 years and carries an annual interest rate of 2.99% and a monthly payment of $15,245, principal and interest. The Company made a down payment of $133,875. 634,559 - Crawler Dozer (Large) – Acquired on March 20, 2015 for a total purchase price of $1,364,725 including financing fees. The loan is payable over 4 years and carries an annual interest rate of 2.99% and a monthly payment of $25,287, principal and interest. The Company made a down payment of $222,075. 1,075,163 - Two Articulated Trucks – Acquired on February 17, 2015 for a total purchase price of $671,944 each including financing fees. The loans are payable over 4 years and carries an annual interest rate of 2.99% and monthly payments of $12,451 each, principal and interest. The Company made a down payments of $109,325 for each truck. 1,036,515 - Two Excavators – Acquired on April 23, 2015 and June 26, 2015 for a total purchase price of $992,541 and 280,843 respectively, including financing fees. The loans are payable over 4 years and carry an annual interest rate of 2.99% and 0.00% and monthly payments of $18,391 and $4,900 each, principal and interest. The Company made down payments of $161,487 and $45,658 for each truck. 1,033,557 - Wheeled Dozer – Acquired on June 26, 2015 for a total purchase price of $846,575 including financing fees. The loan is payable over 4 years and carries an annual interest rate of 2.99% and monthly payments of $15,687, principal and interest. The Company made a down payments of $137,725 for each truck. 708,850 - Total loan balance 5,291,102 913,132 Less: Current portion of loan (1,347,120 ) (222,839 ) Loan payable – Long-term portion $ 3,943,982 $ 690,293 The loan agreements are secured by the underlying assets. |
Financial Instruments
Financial Instruments | 6 Months Ended |
Jun. 30, 2015 | |
Financial Instruments [Text Block] | 11. Financial Instruments Fair Value Measurements All financial assets and financial liabilities are recorded at fair value on initial recognition. Transaction costs are expensed when they are incurred, unless they are directly attributable to the acquisition of qualifying assets, in which case they are added to the costs of those assets until such time as the assets are substantially ready for their intended use or sale. The three levels of the fair value hierarchy are as follows: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; See Note 7 (ii) – Convertible Debentures and Note 7 (iv) – Share Purchase Warrants for derivatives fair valued on a recurring basis and considered within level 2. The fair value measurement of these financial instruments use observable inputs in option price models such as the binomial and the black-scholes valuation models. Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). Under fair value accounting, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. As of June 30, 2015 and December 31, 2014, the Company had embedded derivative liabilities in connection with the Convertible Debenture (Note 7(ii)) and the warrants issued to the Clay family (Note 7 (iv)). |
General and Administrative Expe
General and Administrative Expenses | 6 Months Ended |
Jun. 30, 2015 | |
General and Administrative Expenses [Text Block] | 12. General and Administrative Expenses General and administrative expenses are broken down as follows: Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Audit & Accounting $ 95,386 $ 107,027 $ 275,368 $ 264,521 Legal 369,400 538,926 615,322 928,756 Consulting fees 12,378 40,235 201,312 113,749 Corporate salary 603,418 266,677 754,848 387,755 Corporate expense 42,670 466,079 86,919 637,663 Office 221,185 241,754 488,523 374,358 Insurance 72,713 28,025 135,902 41,908 Regulatory and licensing 45,468 26,220 110,954 71,457 Environmental matters 56,720 17,093 56,720 17,093 Foreign exchange 94,424 196,168 (467,088 ) 21,532 Stock-based compensation - 96,074 - 192,148 Pre-production costs 354,840 - 420,250 - Public relations & promotion 22,613 57,672 51,717 96,268 Total $ 1,991,215 $ 2,081,950 $ 2,730,747 $ 3,147,208 |
Comparative Figures
Comparative Figures | 6 Months Ended |
Jun. 30, 2015 | |
Comparative Figures [Text Block] | 13. Comparative Figures Certain comparative figures have been reclassified to conform with the financial statement presentation adopted for the current year. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Text Block] | 14. Subsequent Events Subsequent to June 30, 2015, GQM LLC took possession of two loaders and four 100 ton haul trucks, valued at $9.6 million. Shortly after taking possession of the equipment, the Company paid $0.6 million in sales tax. The 10% deposit of $0.9 million had already been paid during the second quarter of 2015. The remaining $8.1 million will be financed over 48 months at an interest rate of 4.24%. Subsequent to June 30, 2015, GQM LLC took possession of a dozer, valued at $0.2 million. Shortly after taking possession of the equipment, the Company paid $17,550 in sales tax and made a 10% deposit of $23,400. The remaining $0.2 million will be financed over 48 months at an interest rate of 2.99%. On July 24, 2015, the Company repaid its C$10.0 million ($7.7 million) convertible debenture and accrued interest of C$200,000 ($153,500). On August 10, 2015, the President and Chief Executive Officer of the Company stepped down. The current Chairman of the Company, assumed the role of Interim Chief Executive Officer. The Company also appointed the President and Chief Executive Officer of GQM LLC to the position of Chief Operating Officer. The Company and the former President and Chief Executive Officer entered into a separation agreement as of August 10, 2015, which provides for the termination of the employment agreement and an agreement for the Company to pay six month’s salary commencing from the date of termination. The separation agreement also confirms that as a result of the termination of the employment agreement, the 150,000 bonus shares that were to be issued upon reaching the commencement of production, will no longer be issuable as that milestone was not met as at the date of termination of the employment agreement. |
Property (Tables)
Property (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Property, Plant and Equipment [Table Text Block] | Property consists of: June 30, 2015 December 31, 2014 Land $ 109,600 $ 109,600 Rental properties 324,566 324,566 Property, cost 434,166 434,166 Less accumulated depreciation (197,726 ) (182,699 ) Property, net $ 236,440 $ 251,467 |
Mineral Property Interests (Tab
Mineral Property Interests (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Schedule of Mineral Properties [Table Text Block] | June 30, 2015 December 31, 2014 Mineral property interest, land and claims $ 3,811,821 $ 3,299,319 Deferred mine development costs 73,509,565 31,020,717 Asset retirement costs 550,807 272,567 Capitalized interest 3,997,182 2,412,015 Capitalized depreciation 461,248 133,516 Balance, end of the period $ 82,330,623 $ 37,138,134 |
Share Capital (Tables)
Share Capital (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Average Shares per Share Options outstanding, December 31, 2013 1,380,000 $ 0.87 Options exercised (530,000 ) $ 0.21 Option outstanding, June 30, 2014 850,000 $ 1.27 Options exercisable, June 30, 2014 650,000 $ 1.29 Options forfeited (100,000 ) $ 1.16 Option outstanding and exercisable, December 31, 2014 750,000 $ 1.29 Options expired (50,000 ) $ 1.22 Options outstanding and exercisable, June 30, 2015 700,000 $ 1.30 |
Schedule of Stock Options Outstanding and Exercisable [Table Text Block] | Weighted Number Average Outstanding Remaining Expiry and Contractual Life Exercise Date Exercisable (Years) Price November 11, 2015 200,000 0.37 $1.16 June 3, 2018 50,000 2.93 $1.16 September 3, 2018 150,000 3.18 $1.59 September 18, 2018 300,000 3.22 $1.26 Outstanding, June 30, 2015 700,000 2.38 Exercisable, June 30, 2015 700,000 2.38 |
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | June 30, 2015 December 31, 2014 Balance, beginning of the period $ - $ - Issued 10,000,000 - Balance, end of the period $ 10,000,000 $ - |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Weighted Average Remaining Expiry Number Contractual Life Exercise Date Outstanding (Years) Price June 8, 2020 10,000,000 4.94 $ 0.95 |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | June 30, December 31, 2015 2014 Balance, beginning of the period $ 624,142 $ 552,250 Changes in cash flow estimates 278,240 71,892 Balance, end of the period $ 902,382 $ 624,142 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Schedule of Fair Value of the Derivative Liability [Table Text Block] | 2015 2014 Risk-free interest rate 0.49% - 0.50% 1.00% - 1.09% Expected life of derivative liability 0.07 - 0.32 years 0.57 - 1.32 years Expected volatility 49.36% - 77.00% 73.03% - 98.21% Dividend rate 0.00% 0.00% | |
Schedule of Changes in the Derivative Liability [Table Text Block] | June 30, 2015 December 31, 2014 Balance, beginning of the period $ 1,829,770 $ 2,833,987 Change in fair value of derivative liability including foreign exchange (1,817,356 ) (1,004,217 ) Balance, end of the period $ 12,414 $ 1,829,770 | |
Schedule of Change in the Convertible Debentures [Table Text Block] | June 30, 2015 December 31, 2014 Balance, beginning of the period $ 6,649,967 $ 4,642,620 Discounted convertible debentures - - Amortization of discount 1,590,551 2,510,611 Foreign exchange (491,482 ) (503,264 ) Balance, end of the period $ 7,749,036 $ 6,649,967 | |
Schedule of Loan Payable [Table Text Block] | June 30, 2015 December 31, 2014 Balance, beginning of the period $ 13,881,305 $ - Fair value at inception 33,497,277 22,500,000 Repayment of loans (2,500,000 ) (7,500,000 ) Amortization of closing and legal fees 967,156 - Amortization of discount on the June Loan 143,069 - Extinguishment of the December Loan (12,500,000 ) - Loss on extinguishment of debt 151,539 - Capitalized closing fee and legal fees - (1,118,695 ) Balance, end of the period $ 33,640,346 $ 13,881,305 | |
Schedule of Fair Value of the Derivative Liability - Share Purchase Warrants [Table Text Block] | 2015 2014 Risk-free interest rate 0.81% - 1.02% - Expected life of derivative liability 4.94 - 5 years - Expected volatility 72.29% - 72.52% - Dividend rate 0.00% - | |
Schedule of Changes in the Derivative Liability - Share Purchase Warrants [Table Text Block] | June 30, 2015 December 31, 2014 Balance, beginning of the period $ - $ - Fair value at inception 4,002,723 - Change in fair value (649,744 ) - Balance, end of the period $ 3,352,979 $ - | |
Schedule of the Amortization of Discount and Interest on Loan and Convertible Debentures [Table Text Block] | Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Interest expense related to the convertible debentures $ 40,301 $ 45,799 $ 80,586 $ 91,516 Interest expense related to the January 2014 loans - 616,096 - 741,096 Interest expense related to the December 2014 loans 236,301 - 547,945 - Interest expense related to the June 2015 loans 229,167 - 229,167 - Interest expense related to Komatsu Financial loans 31,146 - 44,558 - Amortization of debt discount on the convertible debentures 842,681 593,038 1,590,551 1,113,618 Amortization of the December 2014 loan closing fees 430,427 - 967,155 - Amortization of the June 2015 loan discount 143,069 - 143,069 - Amortization of discount and interest on loan and convertible debentures $ 1,953,092 $ 1,254,933 $ 3,603,031 $ 1,946,230 | |
Schedule of Amortization of Discount and Interest Expense [Table Text Block] | Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Amortization of discounts and interest on loan, advance and convertible debenture $ 1,953,092 $ 1,254,933 $ 3,603,031 $ 1,946,230 Less: Interest costs capitalized (882,983 ) (990,813 ) (1,585,167 ) (990,813 ) Amortization of discounts and interest expensed $ 1,070,111 $ 264,120 $ 2,017,864 $ 955,417 | |
Schedule of Net Assets of GQM LLC [Table Text Block] | June 30, 2015 December 31, 2014 Assets, GQM LLC $ 79,517,574 $ 118,937,371 Liabilities, GQM LLC (14,690,770 ) (4,769,144 ) Net assets, GQM LLC $ 64,826,804 $ 114,168,227 | |
Schedule of Fair Value of Temporary Non-controlling Interest [Table Text Block] | September 15, 2014 Net assets, GQM LLC before Joint Venture Transaction $ 16,973,184 Investment by Gauss 110,000,000 Net assets, GQM LLC after Joint Venture Transaction 126,973,184 Gauss’ ownership percentage 50% Net assets of GQM LLC attributable to Gauss $ 63,486,592 Allocation of non-controlling interest between permanent equity and temporary equity: Permanent non-controlling interest ( 60% of total non- controlling interest) $ 38,091,955 Temporary non-controlling interest ( 40% of total non- controlling interest) $ 25,394,637 | |
Schedule of Carrying Value of Temporary Non-controlling Interest [Table Text Block] | June 30, 2015 December 31, 2014 Net and comprehensive loss in GQM LLC $ (1,998,148 ) $ (2,804,957 ) Non-controlling interest percentage 50% 50% Net and comprehensive loss attributable to non- controlling interest (999,074 ) (1,402,479 ) Net and comprehensive loss attributable to permanent non-controlling interest $ (599,445 ) $ (841,487 ) Net and comprehensive loss attributable to temporary non-controlling interest $ (399,629 ) $ (560,992 ) | |
Schedule of Carrying Value of Temporary Non-controlling Interest, Activity [Table Text Block] | Permanent Non- Temporary Non- Controlling Interest Controlling Interest Carrying value of non-controlling interest, December 31, 2014 $ 34,250,468 $ 22,833,645 Capital contribution 7,500,000 5,000,000 Net and comprehensive loss for the period (599,445 ) (399,629 ) Carrying value of non-controlling interest , June 30, 2015 $ 41,151,023 $ 27,434,016 | Permanent Non- Temporary Non- Controlling Interest Controlling Interest Carrying value of non-controlling interest, September 15, 2014 $ 38,091,955 $ 25,394,637 Distributions to non-controlling interest (3,000,000 ) (2,000,000 ) Net and comprehensive loss for the period (841,487 ) (560,992 ) Carrying value of non-controlling interest , December 31, 2014 $ 34,250,468 $ 22,833,645 |
Schedule of Dilution of Interest in Subsidiary [Table Text Block] | September 15, 2014 Investment by Gauss $ 110,000,000 Less: Initial carrying value of permanent equity (38,091,955 ) Initial carrying value of temporary equity (25,394,637 ) Effect of dilution of subsidiary recorded to APIC $ 46,513,408 |
Supplementary Disclosures of 26
Supplementary Disclosures of Cash Flow Information (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | June 30, 2015 June 30, 2014 Cash paid during period for: Interest $ 589,553 $ - Income taxes $ - $ - Non-cash financing and investing activities: Stock-based compensation $ - $ 192,148 Common shares issued as part of a management agreement $ 151,428 $ - Common shares issued for mineral property $ - $ 24,480 Mineral property acquired through issuance of debt $ 4,377,970 $ - Mineral property expenditures included in accounts payable $ 7,658,456 $ 228,071 Non-cash interest cost capitalized to mineral property interests $ 1,585,167 $ 990,813 Non-cash amortization of discount and interest expense $ 1,973,307 $ 955,417 |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block [Table Text Block] | Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Numerator: Net income (loss) – numerator for basic EPS $ (1,379,265 ) $ (705,843 ) $ (2,815,451 ) $ (8,200,482 ) Amortization of discount - - - - Change in derivative liability – Convertible debentures - (1,634,681 ) - - Change in derivative – Warrants - - - - Numerator for diluted EPS $ (1,379,265 ) $ (2,340,524 ) $ (2,815,451 ) $ (8,200,482 ) |
Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block [Table Text Block] | Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Denominator: Denominator for basic EPS 99,928,683 99,619,562 99,857,412 99,441,099 Effect of dilutive securities: Employee stock options - 90,134 - - Convertible debenture - 9,708,738 - - Warrants - Denominator for diluted EPS 99,928,683 109,418,434 99,857,412 99,441,099 Basic earnings(loss) per share $ (0.01 ) $ (0.01 ) $ (0.03 ) $ (0.08 ) Diluted loss per share $ (0.01 ) $ (0.02 ) $ (0.03 ) $ (0.08 ) |
Loan Payable (Tables)
Loan Payable (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Schedule of Loan Payable Agreements [Table Text Block] | June 30, 2015 December 31, 2014 Motor Grader – Acquired on December 5, 2014 for a total purchase price of $291,146 including financing fees. The loan is payable over 4 years and carries an annual interest rate of 1.80% and a monthly payment of $5,268, principal and interest. The Company made a down payment of $47,335. $ 214,286 $ 243,811 Water Wagon – Acquired on November 6, 2014 for a total purchase price of $815,374 including financing fees. The loan is payable over 4 years and carries an annual interest rate of 2.99% and a monthly payment of $15,109, principal and interest. The Company made a down payment of $132,646. 588,171 669,321 Crawler Dozer (Small) – Acquired on February 17, 2015 for a total purchase price of $822,750 including financing fees. The loan is payable over 4 years and carries an annual interest rate of 2.99% and a monthly payment of $15,245, principal and interest. The Company made a down payment of $133,875. 634,559 - Crawler Dozer (Large) – Acquired on March 20, 2015 for a total purchase price of $1,364,725 including financing fees. The loan is payable over 4 years and carries an annual interest rate of 2.99% and a monthly payment of $25,287, principal and interest. The Company made a down payment of $222,075. 1,075,163 - Two Articulated Trucks – Acquired on February 17, 2015 for a total purchase price of $671,944 each including financing fees. The loans are payable over 4 years and carries an annual interest rate of 2.99% and monthly payments of $12,451 each, principal and interest. The Company made a down payments of $109,325 for each truck. 1,036,515 - Two Excavators – Acquired on April 23, 2015 and June 26, 2015 for a total purchase price of $992,541 and 280,843 respectively, including financing fees. The loans are payable over 4 years and carry an annual interest rate of 2.99% and 0.00% and monthly payments of $18,391 and $4,900 each, principal and interest. The Company made down payments of $161,487 and $45,658 for each truck. 1,033,557 - Wheeled Dozer – Acquired on June 26, 2015 for a total purchase price of $846,575 including financing fees. The loan is payable over 4 years and carries an annual interest rate of 2.99% and monthly payments of $15,687, principal and interest. The Company made a down payments of $137,725 for each truck. 708,850 - Total loan balance 5,291,102 913,132 Less: Current portion of loan (1,347,120 ) (222,839 ) Loan payable – Long-term portion $ 3,943,982 $ 690,293 |
General and Administrative Ex29
General and Administrative Expenses (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Schedule of General and Administrative Costs [Table Text Block] | Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Audit & Accounting $ 95,386 $ 107,027 $ 275,368 $ 264,521 Legal 369,400 538,926 615,322 928,756 Consulting fees 12,378 40,235 201,312 113,749 Corporate salary 603,418 266,677 754,848 387,755 Corporate expense 42,670 466,079 86,919 637,663 Office 221,185 241,754 488,523 374,358 Insurance 72,713 28,025 135,902 41,908 Regulatory and licensing 45,468 26,220 110,954 71,457 Environmental matters 56,720 17,093 56,720 17,093 Foreign exchange 94,424 196,168 (467,088 ) 21,532 Stock-based compensation - 96,074 - 192,148 Pre-production costs 354,840 - 420,250 - Public relations & promotion 22,613 57,672 51,717 96,268 Total $ 1,991,215 $ 2,081,950 $ 2,730,747 $ 3,147,208 |
Basis of Presentation and Abi30
Basis of Presentation and Ability to Continue as a Going Concern (Narrative) (Details) - 6 months ended Jun. 30, 2015 - USD ($) | Total |
Basis Of Presentation And Ability To Continue As A Going Concern 1 | $ 77,260,267 |
Basis Of Presentation And Ability To Continue As A Going Concern 2 | 74,444,816 |
Basis Of Presentation And Ability To Continue As A Going Concern 3 | 68,945,969 |
Basis Of Presentation And Ability To Continue As A Going Concern 4 | $ 65,110,327 |
Basis Of Presentation And Ability To Continue As A Going Concern 5 | 50.00% |
Basis Of Presentation And Ability To Continue As A Going Concern 6 | $ 37,500,000 |
Mineral Property Interests (Nar
Mineral Property Interests (Narrative) (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Mineral Property Interests 1 | $ 9,085,651 |
Mineral Property Interests 2 | 2,424,635 |
Mineral Property Interests 3 | 2,553,646 |
Mineral Property Interests 4 | 6,661,016 |
Mineral Property Interests 5 | 107,228 |
Mineral Property Interests 6 | 183,585 |
Mineral Property Interests 7 | 212,669 |
Mineral Property Interests 8 | 327,732 |
Mineral Property Interests 9 | 14,270 |
Mineral Property Interests 10 | $ 21,100 |
Share Capital (Narrative) (Deta
Share Capital (Narrative) (Details) - 6 months ended Jun. 30, 2015 | USD ($)$ / sharesshares |
Share Capital 1 | shares | 150,000 |
Share Capital 2 | $ 151,428 |
Share Capital 3 | shares | 300,000 |
Share Capital 4 | shares | 300,000 |
Share Capital 5 | $ / shares | $ 0.21 |
Share Capital 6 | $ 63,000 |
Share Capital 7 | $ 160,592 |
Share Capital 8 | shares | 170,000 |
Share Capital 9 | shares | 170,000 |
Share Capital 10 | $ / shares | $ 0.21 |
Share Capital 11 | $ 35,700 |
Share Capital 12 | $ 91,002 |
Share Capital 13 | shares | 15,300 |
Share Capital 14 | $ 24,480 |
Share Capital 15 | shares | 60,000 |
Share Capital 16 | shares | 60,000 |
Share Capital 17 | $ / shares | $ 0.21 |
Share Capital 18 | $ 12,721 |
Share Capital 19 | 32,118 |
Share Capital 20 | 0 |
Share Capital 21 | 0 |
Share Capital 22 | 96,074 |
Share Capital 23 | 192,148 |
Share Capital 24 | 233,672 |
Share Capital 25 | 475,263 |
Share Capital 26 | 46,245 |
Share Capital 27 | 0 |
Share Capital 28 | 0 |
Share Capital 29 | $ 0 |
Share Capital 30 | shares | 530,000 |
Share Capital 31 | $ 754,513 |
Share Capital 32 | 10,000,000 |
Asset Retirement Obligations (N
Asset Retirement Obligations (Narrative) (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Asset Retirement Obligations 1 | $ 624,142 |
Asset Retirement Obligations 2 | 624,142 |
Asset Retirement Obligations 3 | 278,240 |
Asset Retirement Obligations 4 | 0 |
Asset Retirement Obligations 5 | 902,382 |
Asset Retirement Obligations 6 | 553,329 |
Asset Retirement Obligations 7 | 478,739 |
Asset Retirement Obligations 8 | 902,382 |
Asset Retirement Obligations 9 | 624,142 |
Asset Retirement Obligations 10 | 552,250 |
Asset Retirement Obligations 11 | 278,240 |
Asset Retirement Obligations 12 | $ 71,892 |
Commitments and Contingencies (
Commitments and Contingencies (Narrative) (Details) - 6 months ended Jun. 30, 2015 | USD ($)shares | CADCAD / sharesshares |
Commitments And Contingencies 1 | $ 50,167 | |
Commitments And Contingencies 2 | 60,167 | |
Commitments And Contingencies 3 | 65,500 | |
Commitments And Contingencies 4 | 99,980 | |
Commitments And Contingencies 5 | 24,480 | |
Commitments And Contingencies 6 | $ 140,000 | |
Commitments And Contingencies 7 | shares | 100,000 | 100,000 |
Commitments And Contingencies 8 | shares | 300,000 | 300,000 |
Commitments And Contingencies 9 | 150,000 | 150,000 |
Commitments And Contingencies 10 | shares | 150,000 | 150,000 |
Commitments And Contingencies 11 | shares | 300,000 | 300,000 |
Commitments And Contingencies 12 | CAD / shares | CAD 1 | |
Commitments And Contingencies 13 | shares | 300,000 | 300,000 |
Commitments And Contingencies 14 | CAD / shares | CAD 1.50 | |
Commitments And Contingencies 15 | shares | 150,000 | 150,000 |
Commitments And Contingencies 16 | $ 151,428 | |
Commitments And Contingencies 17 | CAD | CAD 438,000 | |
Commitments And Contingencies 18 | CAD | CAD 300,000 | |
Commitments And Contingencies 19 | 58,000,000 | |
Commitments And Contingencies 20 | 26,200,000 | |
Commitments And Contingencies 21 | 18,100,000 | |
Commitments And Contingencies 22 | 8,300,000 | |
Commitments And Contingencies 23 | 8,200,000 | |
Commitments And Contingencies 24 | 7,100,000 | |
Commitments And Contingencies 25 | 4,000,000 | |
Commitments And Contingencies 26 | 16,600,000 | |
Commitments And Contingencies 27 | $ 6,800,000 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - 6 months ended Jun. 30, 2015 | USD ($)dshares | CADdCAD / sharesshares |
Related Party Transactions 1 | $ 12,378 | |
Related Party Transactions 2 | 201,312 | |
Related Party Transactions 3 | 39,032 | |
Related Party Transactions 4 | 84,059 | |
Related Party Transactions 5 | 0 | |
Related Party Transactions 6 | 0 | |
Related Party Transactions 7 | 13,797 | |
Related Party Transactions 8 | 151,428 | |
Related Party Transactions 9 | $ 0 | |
Related Party Transactions 10 | shares | 150,000 | 150,000 |
Related Party Transactions 11 | $ 18,414 | |
Related Party Transactions 12 | 36,852 | |
Related Party Transactions 13 | 11,815 | |
Related Party Transactions 14 | 23,439 | |
Related Party Transactions 15 | CAD | CAD 10,000,000 | |
Related Party Transactions 16 | $ 9,710,603 | |
Related Party Transactions 17 | 2.00% | 2.00% |
Related Party Transactions 18 | CAD / shares | CAD 1.03 | |
Related Party Transactions 19 | CAD | CAD 1.03 | |
Related Party Transactions 20 | CAD | CAD 7,500,000 | |
Related Party Transactions 21 | $ 10,049 | |
Related Party Transactions 22 | 12,414 | |
Related Party Transactions 23 | 1,829,770 | |
Related Party Transactions 24 | 40,301 | |
Related Party Transactions 25 | 80,586 | |
Related Party Transactions 26 | 45,799 | |
Related Party Transactions 27 | $ 91,516 | |
Related Party Transactions 28 | 2.00% | 2.00% |
Related Party Transactions 29 | $ 882,982 | |
Related Party Transactions 30 | 1,671,137 | |
Related Party Transactions 31 | 638,837 | |
Related Party Transactions 32 | 1,205,134 | |
Related Party Transactions 33 | 145,378 | |
Related Party Transactions 34 | 70,721 | |
Related Party Transactions 35 | 10,000,000 | |
Related Party Transactions 36 | $ 7,500,000 | |
Related Party Transactions 37 | 5.00% | 5.00% |
Related Party Transactions 38 | d | 183 | 183 |
Related Party Transactions 39 | 5.00% | 5.00% |
Related Party Transactions 40 | 5.00% | 5.00% |
Related Party Transactions 41 | $ 7,500,000 | |
Related Party Transactions 42 | 375,000 | |
Related Party Transactions 43 | 375,000 | |
Related Party Transactions 44 | 2,500,000 | |
Related Party Transactions 45 | 125,000 | |
Related Party Transactions 46 | 125,000 | |
Related Party Transactions 47 | 500,000 | |
Related Party Transactions 48 | 500,000 | |
Related Party Transactions 49 | $ 12,500,000 | |
Related Party Transactions 50 | 10.00% | 10.00% |
Related Party Transactions 51 | 50.00% | 50.00% |
Related Party Transactions 52 | $ 1,000,000 | |
Related Party Transactions 53 | 750,000 | |
Related Party Transactions 54 | 250,000 | |
Related Party Transactions 55 | 90,916 | |
Related Party Transactions 56 | 118,695 | |
Related Party Transactions 57 | 12,500,000 | |
Related Party Transactions 58 | $ 37,500,000 | |
Related Party Transactions 59 | 10,000,000 | 10,000,000 |
Related Party Transactions 60 | $ 0.95 | |
Related Party Transactions 61 | 1,500,000 | |
Related Party Transactions 62 | 46,408 | |
Related Party Transactions 63 | 229,167 | |
Related Party Transactions 64 | 250,000 | |
Related Party Transactions 65 | 125,000 | |
Related Party Transactions 66 | $ 125,000 | |
Related Party Transactions 67 | 10,000,000 | 10,000,000 |
Related Party Transactions 68 | $ 0.95 | |
Related Party Transactions 69 | 3,352,979 | |
Related Party Transactions 70 | 0 | |
Related Party Transactions 71 | 10,000,000 | |
Related Party Transactions 72 | 6,500,000 | |
Related Party Transactions 73 | $ 3,500,000 | |
Related Party Transactions 74 | 10.00% | 10.00% |
Related Party Transactions 75 | $ 110,000,000 | |
Related Party Transactions 76 | 10,000,000 | |
Related Party Transactions 77 | 209,607 | |
Related Party Transactions 78 | 73,632 | |
Related Party Transactions 79 | $ 45,264 | |
Related Party Transactions 80 | 50.00% | 50.00% |
Related Party Transactions 81 | 50.00% | 50.00% |
Related Party Transactions 82 | $ 110,000,000 | |
Related Party Transactions 83 | 50.00% | 50.00% |
Related Party Transactions 84 | 27.00% | 27.00% |
Related Party Transactions 85 | 67.50% | 67.50% |
Related Party Transactions 86 | 32.50% | 32.50% |
Related Party Transactions 87 | $ 2,000,000 | |
Related Party Transactions 88 | $ 275,000 | |
Related Party Transactions 89 | 100.00% | 100.00% |
Related Party Transactions 90 | 50.00% | 50.00% |
Related Party Transactions 91 | $ 71,275,286 | |
Related Party Transactions 92 | $ 83,282,403 | |
Related Party Transactions 94 | 20.00% | 20.00% |
Related Party Transactions 96 | 20.00% | 20.00% |
Related Party Transactions 97 | d | 60 | 60 |
Related Party Transactions 98 | 20.00% | 20.00% |
Related Party Transactions 99 | 0 | 0 |
Related Party Transactions 100 | 20.00% | 20.00% |
Related Party Transactions 101 | 0 | 0 |
Related Party Transactions 102 | 5.00% | 5.00% |
Related Party Transactions 103 | d | 15 | 15 |
Related Party Transactions 104 | d | 60 | 60 |
Related Party Transactions 105 | 60.00% | 60.00% |
Related Party Transactions 106 | 100.00% | 100.00% |
Related Party Transactions 107 | 50.00% | 50.00% |
Related Party Transactions 108 | 25.00% | 25.00% |
Related Party Transactions 109 | $ 12,500,000 | |
Related Party Transactions 110 | $ 25,000,000 | |
Related Party Transactions 111 | 50.00% | 50.00% |
Related Party Transactions 112 | $ 1.10 | |
Related Party Transactions 113 | 45,000,000 | |
Related Party Transactions 114 | 2,250,000 | |
Related Party Transactions 115 | $ 731,250 |
Earnings (Loss) Per Share (Narr
Earnings (Loss) Per Share (Narrative) (Details) - 6 months ended Jun. 30, 2015 | shares |
Earnings (loss) Per Share 1 | 700,000 |
Earnings (loss) Per Share 2 | 150,000 |
Earnings (loss) Per Share 3 | 700,000 |
Earnings (loss) Per Share 4 | 850,000 |
Earnings (loss) Per Share 5 | 10,000,000 |
Earnings (loss) Per Share 6 | 0 |
Earnings (loss) Per Share 7 | 0 |
Earnings (loss) Per Share 8 | 0 |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) - 6 months ended Jun. 30, 2015 | USD ($)moshares | CADmoshares |
Subsequent Events 1 | 100 | 100 |
Subsequent Events 2 | $ 9,600,000 | |
Subsequent Events 3 | $ 600,000 | |
Subsequent Events 4 | 10.00% | 10.00% |
Subsequent Events 5 | $ 900,000 | |
Subsequent Events 6 | $ 8,100,000 | |
Subsequent Events 7 | mo | 48 | 48 |
Subsequent Events 8 | 4.24% | 4.24% |
Subsequent Events 9 | $ 200,000 | |
Subsequent Events 10 | $ 17,550 | |
Subsequent Events 11 | 10.00% | 10.00% |
Subsequent Events 12 | $ 23,400 | |
Subsequent Events 13 | $ 200,000 | |
Subsequent Events 14 | mo | 48 | 48 |
Subsequent Events 15 | 2.99% | 2.99% |
Subsequent Events 16 | CAD | CAD 10,000,000 | |
Subsequent Events 17 | $ 7,700,000 | |
Subsequent Events 18 | CAD | CAD 200,000 | |
Subsequent Events 19 | $ 153,500 | |
Subsequent Events 20 | shares | 150,000 | 150,000 |
Property, Plant and Equipment (
Property, Plant and Equipment (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Property Property, Plant And Equipment 1 | $ 109,600 |
Property Property, Plant And Equipment 2 | 109,600 |
Property Property, Plant And Equipment 3 | 324,566 |
Property Property, Plant And Equipment 4 | 324,566 |
Property Property, Plant And Equipment 5 | 434,166 |
Property Property, Plant And Equipment 6 | 434,166 |
Property Property, Plant And Equipment 7 | (197,726) |
Property Property, Plant And Equipment 8 | (182,699) |
Property Property, Plant And Equipment 9 | 236,440 |
Property Property, Plant And Equipment 10 | $ 251,467 |
Schedule of Mineral Properties
Schedule of Mineral Properties (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Mineral Property Interests Schedule Of Mineral Properties 1 | $ 3,811,821 |
Mineral Property Interests Schedule Of Mineral Properties 2 | 3,299,319 |
Mineral Property Interests Schedule Of Mineral Properties 3 | 73,509,565 |
Mineral Property Interests Schedule Of Mineral Properties 4 | 31,020,717 |
Mineral Property Interests Schedule Of Mineral Properties 5 | 550,807 |
Mineral Property Interests Schedule Of Mineral Properties 6 | 272,567 |
Mineral Property Interests Schedule Of Mineral Properties 7 | 3,997,182 |
Mineral Property Interests Schedule Of Mineral Properties 8 | 2,412,015 |
Mineral Property Interests Schedule Of Mineral Properties 9 | 461,248 |
Mineral Property Interests Schedule Of Mineral Properties 10 | 133,516 |
Mineral Property Interests Schedule Of Mineral Properties 11 | 82,330,623 |
Mineral Property Interests Schedule Of Mineral Properties 12 | $ 37,138,134 |
Schedule of Share-based Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) - 6 months ended Jun. 30, 2015 | shares |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 1 | 1,380,000 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 2 | 0.87 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 3 | (530,000) |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 4 | 0.21 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 5 | 850,000 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 6 | 1.27 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 7 | 650,000 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 8 | 1.29 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 9 | (100,000) |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 10 | 1.16 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 11 | 750,000 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 12 | 1.29 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 13 | (50,000) |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 14 | 1.22 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 15 | 700,000 |
Share Capital Schedule Of Share-based Compensation, Stock Options, Activity 16 | 1.30 |
Schedule of Stock Options Outst
Schedule of Stock Options Outstanding and Exercisable (Details) - 6 months ended Jun. 30, 2015 | USD ($)shares |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 1 | 200,000 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 2 | 0.37 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 3 | $ | $ 1.16 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 4 | 50,000 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 5 | 2.93 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 6 | $ | $ 1.16 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 7 | 150,000 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 8 | 3.18 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 9 | $ | $ 1.59 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 10 | 300,000 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 11 | 3.22 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 12 | $ | $ 1.26 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 13 | 700,000 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 14 | 2.38 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 15 | 700,000 |
Share Capital Schedule Of Stock Options Outstanding And Exercisable 16 | 2.38 |
Schedule of Stockholders' Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Share Capital Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 1 | $ 0 |
Share Capital Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 2 | 0 |
Share Capital Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 3 | 10,000,000 |
Share Capital Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 4 | 0 |
Share Capital Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 5 | 10,000,000 |
Share Capital Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 6 | $ 0 |
Schedule of Stockholders' Equ43
Schedule of Stockholders' Equity Note, Warrants or Rights (Details) - 6 months ended Jun. 30, 2015 | shares |
Share Capital Schedule Of Stockholders' Equity Note, Warrants Or Rights 1 | 10,000,000 |
Share Capital Schedule Of Stockholders' Equity Note, Warrants Or Rights 2 | 4.94 |
Share Capital Schedule Of Stockholders' Equity Note, Warrants Or Rights 3 | 0.95 |
Schedule of Change in Asset Ret
Schedule of Change in Asset Retirement Obligation (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 1 | $ 624,142 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 2 | 552,250 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 3 | 278,240 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 4 | 71,892 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 5 | 902,382 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 6 | $ 624,142 |
Schedule of Fair Value of the D
Schedule of Fair Value of the Derivative Liability (Details) - 6 months ended Jun. 30, 2015 - yr | Total |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 1 | 0.49% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 2 | 0.50% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 3 | 1.00% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 4 | 1.09% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 5 | 0.07 |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 6 | 0.32 |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 7 | 0.57 |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 8 | 1.32 |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 9 | 49.36% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 10 | 77.00% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 11 | 73.03% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 12 | 98.21% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 13 | 0.00% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability 14 | 0.00% |
Schedule of Changes in the Deri
Schedule of Changes in the Derivative Liability (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Related Party Transactions Schedule Of Changes In The Derivative Liability 1 | $ 1,829,770 |
Related Party Transactions Schedule Of Changes In The Derivative Liability 2 | 2,833,987 |
Related Party Transactions Schedule Of Changes In The Derivative Liability 3 | (1,817,356) |
Related Party Transactions Schedule Of Changes In The Derivative Liability 4 | (1,004,217) |
Related Party Transactions Schedule Of Changes In The Derivative Liability 5 | 12,414 |
Related Party Transactions Schedule Of Changes In The Derivative Liability 6 | $ 1,829,770 |
Schedule of Change in the Conve
Schedule of Change in the Convertible Debentures (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Related Party Transactions Schedule Of Change In The Convertible Debentures 1 | $ 6,649,967 |
Related Party Transactions Schedule Of Change In The Convertible Debentures 2 | 4,642,620 |
Related Party Transactions Schedule Of Change In The Convertible Debentures 3 | 0 |
Related Party Transactions Schedule Of Change In The Convertible Debentures 4 | 0 |
Related Party Transactions Schedule Of Change In The Convertible Debentures 5 | 1,590,551 |
Related Party Transactions Schedule Of Change In The Convertible Debentures 6 | 2,510,611 |
Related Party Transactions Schedule Of Change In The Convertible Debentures 7 | (491,482) |
Related Party Transactions Schedule Of Change In The Convertible Debentures 8 | (503,264) |
Related Party Transactions Schedule Of Change In The Convertible Debentures 9 | 7,749,036 |
Related Party Transactions Schedule Of Change In The Convertible Debentures 10 | $ 6,649,967 |
Schedule of Loan Payable (Detai
Schedule of Loan Payable (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Related Party Transactions Schedule Of Loan Payable 1 | $ 13,881,305 |
Related Party Transactions Schedule Of Loan Payable 2 | 0 |
Related Party Transactions Schedule Of Loan Payable 3 | 33,497,277 |
Related Party Transactions Schedule Of Loan Payable 4 | 22,500,000 |
Related Party Transactions Schedule Of Loan Payable 5 | (2,500,000) |
Related Party Transactions Schedule Of Loan Payable 6 | (7,500,000) |
Related Party Transactions Schedule Of Loan Payable 7 | 967,156 |
Related Party Transactions Schedule Of Loan Payable 8 | 0 |
Related Party Transactions Schedule Of Loan Payable 9 | 143,069 |
Related Party Transactions Schedule Of Loan Payable 10 | 0 |
Related Party Transactions Schedule Of Loan Payable 10 | (12,500,000) |
Related Party Transactions Schedule Of Loan Payable 12 | 0 |
Related Party Transactions Schedule Of Loan Payable 11 | 151,539 |
Related Party Transactions Schedule Of Loan Payable 14 | 0 |
Related Party Transactions Schedule Of Loan Payable 12 | 0 |
Related Party Transactions Schedule Of Loan Payable 13 | (1,118,695) |
Related Party Transactions Schedule Of Loan Payable 14 | 33,640,346 |
Related Party Transactions Schedule Of Loan Payable 15 | $ 13,881,305 |
Schedule of Fair Value of the49
Schedule of Fair Value of the Derivative Liability - Share Purchase Warrants (Details) - 6 months ended Jun. 30, 2015 | USD ($)yr |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability - Share Purchase Warrants 1 | 0.81% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability - Share Purchase Warrants 2 | 1.02% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability - Share Purchase Warrants 3 | $ 0 |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability - Share Purchase Warrants 4 | 4.94 |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability - Share Purchase Warrants 5 | yr | 5 |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability - Share Purchase Warrants 6 | $ 0 |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability - Share Purchase Warrants 7 | 72.29% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability - Share Purchase Warrants 8 | 72.52% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability - Share Purchase Warrants 9 | $ 0 |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability - Share Purchase Warrants 10 | 0.00% |
Related Party Transactions Schedule Of Fair Value Of The Derivative Liability - Share Purchase Warrants 11 | $ 0 |
Schedule of Changes in the De50
Schedule of Changes in the Derivative Liability - Share Purchase Warrants (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Related Party Transactions Schedule Of Changes In The Derivative Liability - Share Purchase Warrants 1 | $ 0 |
Related Party Transactions Schedule Of Changes In The Derivative Liability - Share Purchase Warrants 2 | 0 |
Related Party Transactions Schedule Of Changes In The Derivative Liability - Share Purchase Warrants 3 | 4,002,723 |
Related Party Transactions Schedule Of Changes In The Derivative Liability - Share Purchase Warrants 4 | 0 |
Related Party Transactions Schedule Of Changes In The Derivative Liability - Share Purchase Warrants 5 | (649,744) |
Related Party Transactions Schedule Of Changes In The Derivative Liability - Share Purchase Warrants 6 | 0 |
Related Party Transactions Schedule Of Changes In The Derivative Liability - Share Purchase Warrants 7 | 3,352,979 |
Related Party Transactions Schedule Of Changes In The Derivative Liability - Share Purchase Warrants 8 | $ 0 |
Schedule of the Amortization of
Schedule of the Amortization of Discount and Interest on Loan and Convertible Debentures (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 1 | $ 40,301 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 2 | 45,799 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 3 | 80,586 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 4 | 91,516 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 5 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 6 | 616,096 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 7 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 8 | 741,096 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 9 | 236,301 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 10 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 11 | 547,945 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 12 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 13 | 229,167 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 14 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 15 | 229,167 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 16 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 17 | 31,146 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 18 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 19 | 44,558 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 20 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 21 | 842,681 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 22 | 593,038 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 23 | 1,590,551 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 24 | 1,113,618 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 25 | 430,427 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 26 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 27 | 967,155 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 28 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 29 | 143,069 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 30 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 31 | 143,069 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 32 | 0 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 33 | 1,953,092 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 34 | 1,254,933 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 35 | 3,603,031 |
Related Party Transactions Schedule Of The Amortization Of Discount And Interest On Loan And Convertible Debentures 36 | $ 1,946,230 |
Schedule of Amortization of Dis
Schedule of Amortization of Discount and Interest Expense (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 1 | $ 1,953,092 |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 2 | 1,254,933 |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 3 | 3,603,031 |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 4 | 1,946,230 |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 5 | (882,983) |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 6 | (990,813) |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 7 | (1,585,167) |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 8 | (990,813) |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 9 | 1,070,111 |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 10 | 264,120 |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 11 | 2,017,864 |
Related Party Transactions Schedule Of Amortization Of Discount And Interest Expense 12 | $ 955,417 |
Schedule of Net Assets of GQM L
Schedule of Net Assets of GQM LLC (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Related Party Transactions Schedule Of Net Assets Of Gqm Llc 1 | $ 79,517,574 |
Related Party Transactions Schedule Of Net Assets Of Gqm Llc 2 | 118,937,371 |
Related Party Transactions Schedule Of Net Assets Of Gqm Llc 3 | (14,690,770) |
Related Party Transactions Schedule Of Net Assets Of Gqm Llc 4 | (4,769,144) |
Related Party Transactions Schedule Of Net Assets Of Gqm Llc 5 | 64,826,804 |
Related Party Transactions Schedule Of Net Assets Of Gqm Llc 6 | $ 114,168,227 |
Schedule of Fair Value of Tempo
Schedule of Fair Value of Temporary Non-controlling Interest (Details) - 6 months ended Jun. 30, 2015 - USD ($) | Total |
Related Party Transactions Schedule Of Fair Value Of Temporary Non-controlling Interest 1 | $ 16,973,184 |
Related Party Transactions Schedule Of Fair Value Of Temporary Non-controlling Interest 2 | 110,000,000 |
Related Party Transactions Schedule Of Fair Value Of Temporary Non-controlling Interest 3 | $ 126,973,184 |
Related Party Transactions Schedule Of Fair Value Of Temporary Non-controlling Interest 4 | 50.00% |
Related Party Transactions Schedule Of Fair Value Of Temporary Non-controlling Interest 5 | $ 63,486,592 |
Related Party Transactions Schedule Of Fair Value Of Temporary Non-controlling Interest 6 | 60.00% |
Related Party Transactions Schedule Of Fair Value Of Temporary Non-controlling Interest 7 | $ 38,091,955 |
Related Party Transactions Schedule Of Fair Value Of Temporary Non-controlling Interest 8 | 40.00% |
Related Party Transactions Schedule Of Fair Value Of Temporary Non-controlling Interest 9 | $ 25,394,637 |
Schedule of Carrying Value of T
Schedule of Carrying Value of Temporary Non-controlling Interest (Details) - 6 months ended Jun. 30, 2015 - USD ($) | Total |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 1 | $ (1,998,148) |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 | $ (2,804,957) |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 3 | 50.00% |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 4 | 50.00% |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 5 | $ (999,074) |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 6 | (1,402,479) |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 7 | (599,445) |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 8 | (841,487) |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 9 | (399,629) |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 10 | $ (560,992) |
Schedule of Carrying Value of56
Schedule of Carrying Value of Temporary Non-controlling Interest, Activity (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 1 | $ 34,250,468 | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 2 | 22,833,645 | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 3 | 7,500,000 | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 4 | 5,000,000 | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 5 | (599,445) | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 6 | (399,629) | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 7 | 41,151,023 | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 8 | $ 27,434,016 | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 1 | $ 38,091,955 | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 2 | 25,394,637 | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 3 | (3,000,000) | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 4 | (2,000,000) | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 5 | (841,487) | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 6 | (560,992) | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 7 | 34,250,468 | |
Related Party Transactions Schedule Of Carrying Value Of Temporary Non-controlling Interest 2 8 | $ 22,833,645 |
Schedule of Dilution of Interes
Schedule of Dilution of Interest in Subsidiary (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Related Party Transactions Schedule Of Dilution Of Interest In Subsidiary 1 | $ 110,000,000 |
Related Party Transactions Schedule Of Dilution Of Interest In Subsidiary 2 | (38,091,955) |
Related Party Transactions Schedule Of Dilution Of Interest In Subsidiary 3 | (25,394,637) |
Related Party Transactions Schedule Of Dilution Of Interest In Subsidiary 4 | $ 46,513,408 |
Schedule of Cash Flow, Suppleme
Schedule of Cash Flow, Supplemental Disclosures (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 1 | $ 589,553 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 2 | 0 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 3 | 0 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 4 | 0 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 5 | 0 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 6 | 192,148 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 7 | 151,428 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 8 | 0 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 9 | 0 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 10 | 24,480 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 11 | 4,377,970 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 12 | 0 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 13 | 7,658,456 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 14 | 228,071 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 15 | 1,585,167 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 16 | 990,813 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 17 | 1,973,307 |
Supplementary Disclosures Of Cash Flow Information Schedule Of Cash Flow, Supplemental Disclosures 18 | $ 955,417 |
Schedule Of Calculation Of Nume
Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 1 | $ (1,379,265) |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 2 | (705,843) |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 3 | (2,815,451) |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 4 | (8,200,482) |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 5 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 6 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 7 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 8 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 9 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 10 | (1,634,681) |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 11 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 12 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 13 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 14 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 15 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 16 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 17 | (1,379,265) |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 18 | (2,340,524) |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 19 | (2,815,451) |
Earnings (loss) Per Share Schedule Of Calculation Of Numerator In Earnings Per Share Table Text Block 20 | $ (8,200,482) |
Schedule Of Calculation Of Deno
Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block (Details) - 6 months ended Jun. 30, 2015 | shares |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 1 | 99,928,683 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 2 | 99,619,562 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 3 | 99,857,412 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 4 | 99,441,099 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 5 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 6 | 90,134 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 7 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 8 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 9 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 10 | 9,708,738 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 11 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 12 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 13 | 0 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 14 | 99,928,683 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 15 | 109,418,434 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 16 | 99,857,412 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 17 | 99,441,099 |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 18 | (0.01) |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 19 | (0.01) |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 20 | (0.03) |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 21 | (0.08) |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 22 | (0.01) |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 23 | (0.02) |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 24 | (0.03) |
Earnings (loss) Per Share Schedule Of Calculation Of Denominator In Earnings Per Share Table Text Block 25 | (0.08) |
Schedule of Loan Payable Agreem
Schedule of Loan Payable Agreements (Details) - 6 months ended Jun. 30, 2015 | USD ($)yr |
Loan Payable Schedule Of Loan Payable Agreements 1 | $ 291,146 |
Loan Payable Schedule Of Loan Payable Agreements 2 | yr | 4 |
Loan Payable Schedule Of Loan Payable Agreements 3 | 1.80% |
Loan Payable Schedule Of Loan Payable Agreements 4 | $ 5,268 |
Loan Payable Schedule Of Loan Payable Agreements 5 | 47,335 |
Loan Payable Schedule Of Loan Payable Agreements 6 | 214,286 |
Loan Payable Schedule Of Loan Payable Agreements 7 | 243,811 |
Loan Payable Schedule Of Loan Payable Agreements 8 | $ 815,374 |
Loan Payable Schedule Of Loan Payable Agreements 9 | yr | 4 |
Loan Payable Schedule Of Loan Payable Agreements 10 | 2.99% |
Loan Payable Schedule Of Loan Payable Agreements 11 | $ 15,109 |
Loan Payable Schedule Of Loan Payable Agreements 12 | 132,646 |
Loan Payable Schedule Of Loan Payable Agreements 13 | 588,171 |
Loan Payable Schedule Of Loan Payable Agreements 14 | 669,321 |
Loan Payable Schedule Of Loan Payable Agreements 15 | $ 822,750 |
Loan Payable Schedule Of Loan Payable Agreements 16 | yr | 4 |
Loan Payable Schedule Of Loan Payable Agreements 17 | 2.99% |
Loan Payable Schedule Of Loan Payable Agreements 18 | $ 15,245 |
Loan Payable Schedule Of Loan Payable Agreements 19 | 133,875 |
Loan Payable Schedule Of Loan Payable Agreements 20 | 634,559 |
Loan Payable Schedule Of Loan Payable Agreements 21 | 0 |
Loan Payable Schedule Of Loan Payable Agreements 22 | $ 1,364,725 |
Loan Payable Schedule Of Loan Payable Agreements 23 | yr | 4 |
Loan Payable Schedule Of Loan Payable Agreements 24 | 2.99% |
Loan Payable Schedule Of Loan Payable Agreements 25 | $ 25,287 |
Loan Payable Schedule Of Loan Payable Agreements 26 | 222,075 |
Loan Payable Schedule Of Loan Payable Agreements 27 | 1,075,163 |
Loan Payable Schedule Of Loan Payable Agreements 28 | 0 |
Loan Payable Schedule Of Loan Payable Agreements 29 | $ 671,944 |
Loan Payable Schedule Of Loan Payable Agreements 30 | yr | 4 |
Loan Payable Schedule Of Loan Payable Agreements 31 | 2.99% |
Loan Payable Schedule Of Loan Payable Agreements 32 | $ 12,451 |
Loan Payable Schedule Of Loan Payable Agreements 33 | 109,325 |
Loan Payable Schedule Of Loan Payable Agreements 34 | 1,036,515 |
Loan Payable Schedule Of Loan Payable Agreements 35 | 0 |
Loan Payable Schedule Of Loan Payable Agreements 36 | 992,541 |
Loan Payable Schedule Of Loan Payable Agreements 37 | $ 280,843 |
Loan Payable Schedule Of Loan Payable Agreements 38 | yr | 4 |
Loan Payable Schedule Of Loan Payable Agreements 39 | 2.99% |
Loan Payable Schedule Of Loan Payable Agreements 40 | 0.00% |
Loan Payable Schedule Of Loan Payable Agreements 41 | $ 18,391 |
Loan Payable Schedule Of Loan Payable Agreements 42 | 4,900 |
Loan Payable Schedule Of Loan Payable Agreements 43 | 161,487 |
Loan Payable Schedule Of Loan Payable Agreements 44 | 45,658 |
Loan Payable Schedule Of Loan Payable Agreements 45 | 1,033,557 |
Loan Payable Schedule Of Loan Payable Agreements 46 | 0 |
Loan Payable Schedule Of Loan Payable Agreements 46 | $ 846,575 |
Loan Payable Schedule Of Loan Payable Agreements 47 | yr | 4 |
Loan Payable Schedule Of Loan Payable Agreements 48 | 2.99% |
Loan Payable Schedule Of Loan Payable Agreements 49 | $ 15,687 |
Loan Payable Schedule Of Loan Payable Agreements 50 | 137,725 |
Loan Payable Schedule Of Loan Payable Agreements 51 | 708,850 |
Loan Payable Schedule Of Loan Payable Agreements 53 | 0 |
Loan Payable Schedule Of Loan Payable Agreements 52 | 5,291,102 |
Loan Payable Schedule Of Loan Payable Agreements 53 | 913,132 |
Loan Payable Schedule Of Loan Payable Agreements 54 | (1,347,120) |
Loan Payable Schedule Of Loan Payable Agreements 55 | (222,839) |
Loan Payable Schedule Of Loan Payable Agreements 56 | 3,943,982 |
Loan Payable Schedule Of Loan Payable Agreements 57 | $ 690,293 |
Schedule of General and Adminis
Schedule of General and Administrative Costs (Details) | 6 Months Ended |
Jun. 30, 2015USD ($) | |
General And Administrative Expenses Schedule Of General And Administrative Costs 1 | $ 95,386 |
General And Administrative Expenses Schedule Of General And Administrative Costs 2 | 107,027 |
General And Administrative Expenses Schedule Of General And Administrative Costs 3 | 275,368 |
General And Administrative Expenses Schedule Of General And Administrative Costs 4 | 264,521 |
General And Administrative Expenses Schedule Of General And Administrative Costs 5 | 369,400 |
General And Administrative Expenses Schedule Of General And Administrative Costs 6 | 538,926 |
General And Administrative Expenses Schedule Of General And Administrative Costs 7 | 615,322 |
General And Administrative Expenses Schedule Of General And Administrative Costs 8 | 928,756 |
General And Administrative Expenses Schedule Of General And Administrative Costs 9 | 12,378 |
General And Administrative Expenses Schedule Of General And Administrative Costs 10 | 40,235 |
General And Administrative Expenses Schedule Of General And Administrative Costs 11 | 201,312 |
General And Administrative Expenses Schedule Of General And Administrative Costs 12 | 113,749 |
General And Administrative Expenses Schedule Of General And Administrative Costs 13 | 603,418 |
General And Administrative Expenses Schedule Of General And Administrative Costs 14 | 266,677 |
General And Administrative Expenses Schedule Of General And Administrative Costs 15 | 754,848 |
General And Administrative Expenses Schedule Of General And Administrative Costs 16 | 387,755 |
General And Administrative Expenses Schedule Of General And Administrative Costs 17 | 42,670 |
General And Administrative Expenses Schedule Of General And Administrative Costs 18 | 466,079 |
General And Administrative Expenses Schedule Of General And Administrative Costs 19 | 86,919 |
General And Administrative Expenses Schedule Of General And Administrative Costs 20 | 637,663 |
General And Administrative Expenses Schedule Of General And Administrative Costs 21 | 221,185 |
General And Administrative Expenses Schedule Of General And Administrative Costs 22 | 241,754 |
General And Administrative Expenses Schedule Of General And Administrative Costs 23 | 488,523 |
General And Administrative Expenses Schedule Of General And Administrative Costs 24 | 374,358 |
General And Administrative Expenses Schedule Of General And Administrative Costs 25 | 72,713 |
General And Administrative Expenses Schedule Of General And Administrative Costs 26 | 28,025 |
General And Administrative Expenses Schedule Of General And Administrative Costs 27 | 135,902 |
General And Administrative Expenses Schedule Of General And Administrative Costs 28 | 41,908 |
General And Administrative Expenses Schedule Of General And Administrative Costs 29 | 45,468 |
General And Administrative Expenses Schedule Of General And Administrative Costs 30 | 26,220 |
General And Administrative Expenses Schedule Of General And Administrative Costs 31 | 110,954 |
General And Administrative Expenses Schedule Of General And Administrative Costs 32 | 71,457 |
General And Administrative Expenses Schedule Of General And Administrative Costs 33 | 56,720 |
General And Administrative Expenses Schedule Of General And Administrative Costs 34 | 17,093 |
General And Administrative Expenses Schedule Of General And Administrative Costs 35 | 56,720 |
General And Administrative Expenses Schedule Of General And Administrative Costs 36 | 17,093 |
General And Administrative Expenses Schedule Of General And Administrative Costs 37 | 94,424 |
General And Administrative Expenses Schedule Of General And Administrative Costs 38 | 196,168 |
General And Administrative Expenses Schedule Of General And Administrative Costs 39 | (467,088) |
General And Administrative Expenses Schedule Of General And Administrative Costs 40 | 21,532 |
General And Administrative Expenses Schedule Of General And Administrative Costs 41 | 0 |
General And Administrative Expenses Schedule Of General And Administrative Costs 42 | 96,074 |
General And Administrative Expenses Schedule Of General And Administrative Costs 43 | 0 |
General And Administrative Expenses Schedule Of General And Administrative Costs 44 | 192,148 |
General And Administrative Expenses Schedule Of General And Administrative Costs 45 | 354,840 |
General And Administrative Expenses Schedule Of General And Administrative Costs 46 | 0 |
General And Administrative Expenses Schedule Of General And Administrative Costs 47 | 420,250 |
General And Administrative Expenses Schedule Of General And Administrative Costs 48 | 0 |
General And Administrative Expenses Schedule Of General And Administrative Costs 49 | 22,613 |
General And Administrative Expenses Schedule Of General And Administrative Costs 50 | 57,672 |
General And Administrative Expenses Schedule Of General And Administrative Costs 51 | 51,717 |
General And Administrative Expenses Schedule Of General And Administrative Costs 52 | 96,268 |
General And Administrative Expenses Schedule Of General And Administrative Costs 53 | 1,991,215 |
General And Administrative Expenses Schedule Of General And Administrative Costs 54 | 2,081,950 |
General And Administrative Expenses Schedule Of General And Administrative Costs 55 | 2,730,747 |
General And Administrative Expenses Schedule Of General And Administrative Costs 56 | $ 3,147,208 |