Cover
Cover - shares | 3 Months Ended | |
Apr. 30, 2022 | Jun. 17, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Apr. 30, 2022 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --01-31 | |
Entity File Number | 000-50071 | |
Entity Registrant Name | LIBERTY STAR URANIUM & METALS CORP. | |
Entity Central Index Key | 0001172178 | |
Entity Tax Identification Number | 90-0175540 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 2 East Congress Street Ste. 900 | |
Entity Address, City or Town | Tucson | |
Entity Address, State or Province | AZ | |
Entity Address, Postal Zip Code | 85701 | |
City Area Code | 520 | |
Local Phone Number | 425-1433 | |
Title of 12(b) Security | Common | |
Trading Symbol | LBSR | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 13,778,961 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Apr. 30, 2022 | Jan. 31, 2022 |
Current: | ||
Cash and cash equivalents | $ 121,856 | $ 102,741 |
Prepaid expenses | 30,617 | 13,066 |
Total current assets | 152,473 | 115,807 |
Property and equipment, net | 26,264 | 27,722 |
Total assets | 178,737 | 143,529 |
Current: | ||
Accounts payable and accrued liabilities | 265,695 | 486,629 |
Accounts payable to related parties | 51,119 | |
Accrued wages to related parties | 51,762 | 811,711 |
Note payable | 24,750 | |
Notes payable to related parties | 13,121 | |
Convertible promissory note, net of unamortized debt discount of $41,882 and $20,178 | 260,718 | 181,122 |
Derivative liability | 815,452 | |
Total current liabilities | 1,418,377 | 1,543,702 |
Long-term: | ||
Long-term debt - SBA | 32,400 | 64,897 |
Total long-term liabilities | 32,400 | 64,897 |
Total liabilities | 1,450,777 | 1,608,599 |
Commitments and Contingencies (Note 10) | ||
Stockholders’ deficit: | ||
Common stock, value | 136 | 135 |
Additional paid-in capital | 55,884,807 | 56,503,616 |
Accumulated deficit | (57,156,984) | (57,968,822) |
Total stockholders’ deficit | (1,272,040) | (1,465,070) |
Total liabilities and stockholders’ deficit | 178,737 | 143,529 |
Common Class A [Member] | ||
Stockholders’ deficit: | ||
Common stock, value | $ 1 | $ 1 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) | Apr. 30, 2022 | Jan. 31, 2022 |
Convertible promissory debt discount | $ 41,882 | $ 20,178 |
Common stock, par value | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized | 24,800,000 | 24,800,000 |
Common stock, shares issued | 13,603,056 | 13,458,752 |
Common stock, shares outstanding | 13,603,056 | 13,458,752 |
Common Class A [Member] | ||
Common stock, par value | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized | 200,000 | 200,000 |
Common stock, shares issued | 102,000 | 102,000 |
Common stock, shares outstanding | 102,000 | 102,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Income Statement [Abstract] | ||
Revenues | ||
Expenses: | ||
Geological and geophysical costs | 676 | 1,759 |
Salaries and benefits | 43,770 | 36,559 |
Professional services | 28,784 | 40,284 |
General and administrative | 35,985 | 15,490 |
Net operating expenses | 109,215 | 94,092 |
Loss from operations | (109,215) | (94,092) |
Other income (expense): | ||
Interest expense | (40,034) | (38,184) |
Gain on forgiveness of SBA loan | 32,851 | |
Gain on settlement of debt | 998,284 | |
Gain (loss) on change in fair value of derivative liability | (70,048) | 50,652 |
Total other income (expense) | 921,053 | 12,468 |
Net income (loss) | $ 811,838 | $ (81,624) |
Net income (loss) per share of common stock - basic | $ 0.06 | $ (0.01) |
Net income (loss) per share of common stock - diluted | $ 0.06 | $ (0.01) |
Weighted average number of shares of common stock outstanding: | ||
Basic | 13,475,455 | 10,041,420 |
Diluted | 13,595,094 | 10,041,420 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member]Common Class A [Member] | Common Stock [Member] | Common Stock To Be Issued [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance at Jan. 31, 2021 | $ 1 | $ 99 | $ 15,000 | $ 55,503,564 | $ (57,530,141) | $ (2,011,477) |
Balance, shares at Jan. 31, 2021 | 102,000 | 9,902,052 | ||||
Shares issued for conversion of notes | $ 1 | 26,999 | 27,000 | |||
Shares issued for conversion of notes, shares | 33,881 | |||||
Reclass of APIC to derivative liabilities for tainted warrants | (293,528) | (293,528) | ||||
Resolution of derivative liabilities due to debt conversions and untainted warrants | 17,406 | 17,406 | ||||
Net income(loss) | (81,624) | (81,624) | ||||
Issuance of common stock and warrants in private placement and warrant exercises | $ 1 | (15,000) | 122,099 | 107,100 | ||
Issuance of common stock and warrants in private placement and warrant exercises, shares | 116,230 | |||||
Balance at Apr. 30, 2021 | $ 1 | $ 101 | 55,376,540 | (57,611,765) | (2,235,123) | |
Balance, shares at Apr. 30, 2021 | 102,000 | 10,052,163 | ||||
Balance at Jan. 31, 2022 | $ 1 | $ 135 | 56,503,616 | (57,968,822) | (1,465,070) | |
Balance, shares at Jan. 31, 2022 | 102,000 | 13,458,752 | ||||
Shares issued for conversion of notes | $ 1 | 44,999 | $ 45,000 | |||
Shares issued for conversion of notes, shares | 144,304 | 144,304 | ||||
Options issued related to settlement agreement | 44,706 | $ 44,706 | ||||
Reclass of APIC to derivative liabilities for tainted warrants | (731,226) | (731,226) | ||||
Resolution of derivative liabilities due to debt conversions and untainted warrants | 22,712 | 22,712 | ||||
Net income(loss) | 811,838 | 811,838 | ||||
Balance at Apr. 30, 2022 | $ 1 | $ 136 | $ 55,884,807 | $ (57,156,984) | $ (1,272,040) | |
Balance, shares at Apr. 30, 2022 | 102,000 | 13,603,056 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 811,838 | $ (81,624) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Depreciation | 1,458 | 1,459 |
Amortization of debt discounts | 34,486 | 23,306 |
(Gain) loss on change in fair value of derivative liabilities | 70,048 | (50,652) |
Gain on forgiveness of SBA loan | (32,851) | |
Gain on settlement of debt | (998,284) | |
Changes in assets and liabilities: | ||
Prepaid expenses | 7,199 | (1,363) |
Accounts payable and accrued expenses | (1,779) | 18,274 |
Accrued interest | 11,167 | |
Cash flows used in operating activities: | (107,885) | (79,433) |
Cash flows from financing activities: | ||
Proceeds from notes payable | 32,497 | |
Proceeds from convertible promissory notes | 127,000 | 60,000 |
Proceeds from the issuance of common stock and warrants | 105,000 | |
Proceeds from exercise of warrants | 2,100 | |
Net cash provided by financing activities | 127,000 | 199,597 |
Increase in cash and cash equivalents | 19,115 | 120,164 |
Cash and cash equivalents, beginning of period | 102,741 | 6,718 |
Cash and cash equivalents, end of period | 121,856 | 126,882 |
Supplemental disclosure of cash flow information: | ||
Income tax paid | ||
Interest paid | ||
Supplemental disclosure of non-cash items: | ||
Resolution of derivative liabilities due to debt conversions and untainted warrants | 22,712 | 17,406 |
Reclass of APIC to derivative liabilities for tainted warrants | 731,226 | 293,528 |
Debt discounts due to derivative liabilities | 36,890 | 64,823 |
Common stock issued for conversion of debt and interest | 45,000 | 27,000 |
Expenses paid by related party on behalf of the Company | 22,376 | |
Prepaid insurance financed with note payable | $ 24,750 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Apr. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | NOTE 1 – Basis of Presentation The consolidated financial statements included herein have been prepared by Liberty Star Uranium & Metals Corp. (the “Company”, “we”, “our”) without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) and should be read in conjunction with our annual report on Form 10-K for the year ended January 31, 2022 as filed with the SEC under the Securities and Exchange Act of 1934 (the “Exchange Act”) on May 17, 2022. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted, as permitted by the SEC, although we believe the disclosures which are made are adequate to make the information presented not misleading. The consolidated financial statements reflect, in the opinion of management, all normal recurring adjustments necessary to present fairly our financial position at April 30, 2022 and the results of our operations and cash flows for the periods presented. Interim results are subject to significant seasonal variations and the results of operations for the three months ended April 30, 2022 are not necessarily indicative of the results to be expected for the full year. |
Going concern
Going concern | 3 Months Ended |
Apr. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going concern | NOTE 2 – Going concern The Company has incurred losses from operations and requires additional funds for further exploratory activity and to maintain its claims prior to attaining a revenue generating status. There are no assurances that a commercially viable mineral deposit exists on any of our properties. In addition, the Company may not find sufficient ore reserves to be commercially mined. As such, there is substantial doubt about the Company’s ability to continue as a going concern. Management is working to secure additional funds through the exercise of stock warrants already outstanding, equity financings, debt financings or joint venture agreements. The consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Apr. 30, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 3 – Summary of Significant Accounting Policies Fair Value ASC 820 Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measurements. It defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. Level 3: Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. Schedule of Fair Value of Financial Instruments Fair value measurements at reporting date using: Description Fair Value Quoted prices in Significant Significant Warrant and convertible note derivative liability at April 30, 2022 $ 815,452 - - $ 815,452 Warrant and convertible note derivative liability at January 31, 2022 $ - - - $ - Our financial instruments consist of cash and cash equivalents, prepaid expenses, accounts payable, accrued liabilities, notes payable, convertible notes payable, and derivative liability. It is management’s opinion that we are not exposed to significant interest, currency or credit risks arising from these financial instruments. With the exception of the derivative liability, the fair value of these financial instruments approximates their carrying values based on their short maturities or for long-term debt based on borrowing rates currently available to us for loans with similar terms and maturities. Gains and losses recognized on changes in estimated fair value of the derivative liability are reported in other income (expense) as gain (loss) on change in fair value of derivative liability. Income Taxes Income taxes are recorded using the asset and liability method. Under the asset and liability method, tax assets and liabilities are recognized for the tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Future tax assets and liabilities are measured using the enacted tax rates expected to apply when the asset is realized or the liability settled. The effect on future tax assets and liabilities of a change in tax rates is recognized in income in the period that enactment occurs. To the extent that the Company does not consider it more likely than not that a future tax asset will be recovered, it provides a valuation allowance against the excess. Interest and penalties associated with unrecognized tax benefits, if any, are classified as additional income taxes in the statement of operations. The current period net income will be offset against the prior periods net operating losses which were approximately $ 32 Reclassification Certain reclassifications may have been made to our prior year’s financial statements to conform to our current year presentation. These reclassifications had no effect on our previously reported results of operations or accumulated deficit. |
Related party transactions
Related party transactions | 3 Months Ended |
Apr. 30, 2022 | |
Related Party Transactions [Abstract] | |
Related party transactions | NOTE 4 – Related party transactions Our CEO, Brett Gross, was elected as President and Chief Executive Officer on December 7, 2018 and received no compensation for these services during the three months ended April 30, 2022 and 2021. Accrued Wages As of April 30, 2022 and January 31, 2022, we had a balance of accrued unpaid wages of $ 15,625 36,137 Other On April 22, 2022, the Company reached terms of settlement of the litigation Case No. C20194139, involving our former CEO, James Briscoe, previously filed in the Superior Court of Arizona. Effective April 22, 2022, the Company’s board of directors voted on, accepted and the settlement is now hereby approved, ratified, and confirmed (See Note 10). |
Stock options
Stock options | 3 Months Ended |
Apr. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Stock options | NOTE 5 – Stock options Qualified and Non-qualified incentive stock options outstanding at April 30, 2022 are as follows: Schedule of Stock Option Activity Number of options Weighted average exercise price per share Outstanding, January 31, 2022 145,250 $ 2.965 Granted 118,760 16.97 Expired - - Exercised - - Outstanding, April 30, 2022 264,010 $ 9.27 Exercisable, April 30, 2022 264,010 $ 9.27 These options had a weighted average remaining life of 17.02 0 On April 22, 2022, the Company reached terms of settlement of the litigation Case No. C20194139, involving our former CEO, James Briscoe (see Note 14). As part of the terms of settlement, the Company will reinstate Mr. Briscoe’s stock options that expired following his resignation from the Board. This reinstatement will be on the same terms as originally issued, as evidenced in the August 10, 2010, Stock Option Agreement and October 11, 2016, Stock Option Agreement, each as adjusted for the February 25, 2021, reverse stock split, and pursuant to the Company’s 2010 Stock Option Plan, except for the option exercise window, which will be expanded to 30 years. A total of 118,760 105,000 19.00 13,760 1.50 44,706 |
Warrants
Warrants | 3 Months Ended |
Apr. 30, 2022 | |
Warrants | |
Warrants | NOTE 6 – Warrants As of April 30, 2022, there were 2,164,167 3.11 1.12 51,548 Stock warrants outstanding at April 30, 2022 are as follows: Schedule of Stock Warrants Outstanding Number of warrants Weighted average exercise price per share Outstanding, January 31, 2022 2,164,167 $ 2.16 Issued - - Expired - - Exercised - - Outstanding, April 30, 2022 2,164,167 $ 1.12 Exercisable, April 30, 2022 1,656,685 $ 0.86 As of May 18, 2022, the Company extended all warrants issued by the Company which expired or will expire during the year 2022. These warrants are extended for an additional three years. All other terms of the warrants remain unchanged, fully considering the reverse split effective on February 25, 2021 |
Derivative Liabilities
Derivative Liabilities | 3 Months Ended |
Apr. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Liabilities | NOTE 7 – Derivative Liabilities The embedded conversion feature in the convertible debt instruments that the Company issued (See Note 8), that became convertible during the three months ended April 30, 2022, qualified it as a derivative instrument since the number of shares issuable under the note is indeterminate based on guidance in FASB ASC 815, Derivatives and Hedging. These convertible notes tainted all other equity linked instruments including outstanding warrants and fixed rate convertible debt on the date that the instrument became convertible. The valuation of the derivative liability of the warrants was determined through the use of a Monte Carlo options model that values the liability of the warrants based on a risk-neutral valuation where the price of the option is its discounted expected value. The technique applied generates a large number of possible (but random) price paths for the underlying common stock via simulation, and then calculates the associated exercise value (i.e. “payoff”) of the option for each path. These payoffs are then averaged and discounted to a current valuation date resulting in the fair value of the option. The valuation of the derivative liability attached to the convertible debt was arrived at through the use of a Monte Carlo model that values the derivative liability within the notes. The technique applied generates a large number of possible (but random) price paths for the underlying (or underlyings) via simulation, and then calculates the associated payment value (cash, stock, or warrants) of the derivative features. The price of the underlying common stock is modeled such that it follows a geometric Brownian motion with constant drift, and elastic volatility (increasing as stock price decreases). The stock price is determined by a random sampling from a normal distribution. Since the underlying random process is the same, for enough price paths, the value of the derivative is derived from path dependent scenarios and outcomes. The features in the notes that were analyzed and incorporated into the model included the conversion features with the reset provisions, the call/redemption/prepayment options, and the default provisions. Based on these features, there are six primary events that can occur; payments are made in cash; payments are made with stock; the note holder converts upon receiving a redemption notice; the note holder converts the note; the issuer redeems the note; or the Company defaults on the note. The model simulates the underlying economic factors that influenced which of these events would occur, when they were likely to occur, and the specific terms that would be in effect at the time (i.e. stock price, conversion price, etc.). Probabilities were assigned to each variable such as redemption likelihood, default likelihood, and timing and pricing of reset events over the remaining term of the notes based on management projections. This led to a cash flow simulation over the life of the note. A discounted cash flow for each simulation was completed, and it was compared to the discounted cash flow of the note without the embedded features, thus determining a value for the derivative liability. Key inputs and assumptions used to value the convertible note when it became convertible and upon settlement, and warrants upon tainting, were as follows: ● The stock projections are based on the historical volatilities for each date. These volatilities were in the 75.4 187.4 ● An event of default would not occur during the remaining term of the note; ● Conversion of the notes to stock would be completed monthly after any holding period and would be limited based on: 5% of the last 6 months average trading volume and the ownership limit identified in the contract assuming the underlying number of common shares increases at 1% per month ● The effective discount was determined based on the historical trading history of the Company based on the specific pricing mechanism in each note; ● The Company would not have funds available to redeem the notes during the remaining term of the convertible notes; ● Discount rates were based on risk free rates in effect based on the remaining term and date of each valuation and instrument. ● The Holder would exercise the warrant at maturity if the stock price was above the exercise price; ● The Holder would exercise the warrant after any holding period prior to maturity at target prices starting at 2 times the exercise price for the Warrants or higher subject to monthly limits of: 5% of the last 6 months average trading volume increasing by 1% per month and the ownership limit identified in the contract assuming the underlying number of common shares increases at 1% per month Using the results from the model, the Company recorded a derivative liability during the three months ended April 30, 2022 of $ 731,226 36,890 0 36,890 24,389 12,501 During the three months ended April 30, 2022, the Company recorded a reclassification from derivative liability to equity of $ 0 22,712 70,048 During the three months ended April 30,2021, the Company recorded a reclassification from derivative liability to equity of $ 0 17,406 50,652 The following table sets forth a reconciliation of changes in the fair value of the Company’s derivative liability: Schedule of Changes in Fair Value of Derivative Liabilities Three months ended April 30, 2022 2021 Beginning balance $ - $ - Total (gain) loss 70,048 (50,652 ) Settlements (22,712 ) (17,406 ) Additions recognized as debt discount 36,890 64,823 Additions due to tainted warrants 731,226 293,528 Ending balance $ 815,452 $ 290,293 Change in unrealized (gain) loss included in earnings relating to derivatives $ 70,048 $ (50,652 ) |
Long-term debt and convertible
Long-term debt and convertible promissory notes | 3 Months Ended |
Apr. 30, 2022 | |
Debt Disclosure [Abstract] | |
Long-term debt and convertible promissory notes | NOTE 8 – Long-term debt and convertible promissory notes Following is a summary of convertible promissory notes: Summary of Convertible Promissory Notes April 30, 2022 January 31, 2022 8 October 2021 October 2022 $ 24,300 $ 69,300 8 November 2021 November 2022 69,000 69,000 8 December 2021 December 2022 63,000 63,000 8 February 2022 February 2023 74,800 - 8 April 2022 April 2023 71,500 - Convertible note payable 302,600 201,300 Less debt discount (41,882 ) (20,178 ) Less current portion of convertible notes (260,718 ) (181,122 ) Long-term convertible notes payable $ - $ - On February 7, 2022, the Company entered into a convertible promissory note with Sixth Street in the aggregate principal amount of $ 74,800 8 9,800 February 7, 2023 180 75 10 On April 25, 2022, the Company entered into a convertible promissory note with Sixth Street in the aggregate principal amount of $ 71,500 8 8,000 April 25,2023 180 75 10 During the three months ended April 30, 2022 and 2021, the Company recorded debt discounts of $ 36,890 and $ 64,823 , respectively, due to the derivative liabilities, and original issue debt discounts of $ 19,300 and $ 3,000 , respectively, due to the convertible notes. The Company recorded amortization of these discounts of $ 34,486 and $ 23,306 for the three months ended April 30, 2022 and 2021, respectively. Notes Payable On June 22, 2020, the Company received loan proceeds of $ 32,300 100 3.75 30 monthly installments 158 On February 16, 2021, the Company received loan proceeds of $ 32,497 1 5 32,497 354 In April 2022, the Company entered into a Premium Finance Agreement related to an insurance policy. The policy premiums total $ 33,400 one year policy period 24,750 2,871 10.45 As of April 30, 2022, the notes payable, net balance was $ 57,150 , which include long term notes payable of $ 32,400 and current portion of notes payable of $ 24,750 , with accrued interest of $ 2,274 . As of January 31, 2022, the notes payable, net balance was $ 64,897 , which include term long notes payable of $ 64,897 and current portion of notes payable of $ 0 , with accrued interest of $ 2,287 . |
Stockholders_ deficit
Stockholders’ deficit | 3 Months Ended |
Apr. 30, 2022 | |
Equity [Abstract] | |
Stockholders’ deficit | NOTE 9 – Stockholders’ deficit Common Stock Our undesignated common shares are all of the same class, are voting and entitle stockholders to receive dividends as defined. Upon liquidation or wind-up, stockholders are entitled to participate equally with respect to any distribution of net assets or any dividends that may be declared. During the three months ended April 30, 2022, the Company issued a total of 144,304 45,000 0.3051 0.3207 |
Commitments and contingencies
Commitments and contingencies | 3 Months Ended |
Apr. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | NOTE 10 – Commitments and contingencies We currently rent a storage space for $ 45 We are required to pay annual rentals for Liberty Star’s federal lode mining claims for the Tombstone project in the State of Arizona. The rental period begins at noon on September 1st through the following September 1st and rental payments are due by the first day of the rental period. The annual rentals are $ 165 The rentals due by September 1, 2022 15,345 We are required to pay annual rentals for our Arizona State Land Department Mineral Exploration Permits (“AZ MEP”) at our Tombstone Hay Mountain project in the State of Arizona. AZ MEP permits cost $500 per permit per year in non-refundable filing fees and are valid for 1 year and renewable for up to 5 years 2.00 1.00 10 20 15,793.24 29,355 Legal Matter On August 22, 2019 (and amended on December 23, 2019), the Company filed a complaint with the Superior Court of Arizona (Case No. C20194139), demanding the titles and possession of certain vehicles and equipment of the Company from our former CEO, as well as seeking recovery of damages from the former CEO in an amount of not less than $ 50,000 On February 18, 2020, our former CEO and his spouse (the “Counterclaimants”) filed a First Amended Answer: First Amended Complaint and Counterclaim with the Superior Court of Arizona seeking dismissal of the Company’s complaint and reimbursement of Counterclaimants’ On April 22, 2022, the Company reached terms of settlement of the litigation Case No. C20194139, involving our former CEO, James Briscoe, previously filed in the Superior Court of Arizona. Effective April 22, 2022, the Company’s board of directors voted on, accepted and the settlement is now hereby approved, ratified, and confirmed. A summary of the terms of that settlement is as follows: ● Mr. Briscoe drops his demand for “accrued wages” (see Note 4). ● Mr. Briscoe drops his claim for payment of his credit card debt (see Note 4). These balances were included in accounts payable and accrued liabilities on the consolidated balance sheet in prior period. ● Mr. Briscoe drops all other claims and waives and releases all claims, known or unknown. ● Mr. Briscoe will return title and possession of all the vehicles that he previously transferred to his name. Mr. Briscoe will also return to the Company all Company property identified in our First Amended Complaint. ● The Company will reinstate Mr. Briscoe’s stock options that expired following his resignation from the Board. This reinstatement will be on the same terms as originally issued, as evidenced in the August 10, 2010, Stock Option Agreement and October 11, 2016, Stock Option Agreement, each as adjusted for the February 25, 2021, reverse stock split, and pursuant to the Company’s 2010 Stock Option Plan, except for the option exercise window, which will be expanded to 30 years (see Note 5). ● The Company will pay Mr. Briscoe a sum of $ 29,627 ● Both parties will agree to a non-disparagement clause that expressly establishes prior consent to the Pima County Court’s jurisdiction for issuance of mandatory injunctive relief if an aggrieved Party reasonably believes this clause has been violated by the other Party whether such violation is done directly by the violating Party or via proxy. In connection with the settlement, we wrote off $ 1,072,667 29,677 44,706 998,284 |
Subsequent events
Subsequent events | 3 Months Ended |
Apr. 30, 2022 | |
Subsequent Events [Abstract] | |
Subsequent events | NOTE 11 – Subsequent events Shares Issued for Conversion of Notes On May 23, 2022, the Company issued a total of 98,386 24,300 2,520 0.2726 On May 31, 2022, the Company issued a total of 77,519 20,000 0.2580 On June 9, 2022, the Company issued a total of 80,518 20,500 0.2546 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Apr. 30, 2022 | |
Accounting Policies [Abstract] | |
Fair Value | Fair Value ASC 820 Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measurements. It defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. Level 3: Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. Schedule of Fair Value of Financial Instruments Fair value measurements at reporting date using: Description Fair Value Quoted prices in Significant Significant Warrant and convertible note derivative liability at April 30, 2022 $ 815,452 - - $ 815,452 Warrant and convertible note derivative liability at January 31, 2022 $ - - - $ - Our financial instruments consist of cash and cash equivalents, prepaid expenses, accounts payable, accrued liabilities, notes payable, convertible notes payable, and derivative liability. It is management’s opinion that we are not exposed to significant interest, currency or credit risks arising from these financial instruments. With the exception of the derivative liability, the fair value of these financial instruments approximates their carrying values based on their short maturities or for long-term debt based on borrowing rates currently available to us for loans with similar terms and maturities. Gains and losses recognized on changes in estimated fair value of the derivative liability are reported in other income (expense) as gain (loss) on change in fair value of derivative liability. |
Income Taxes | Income Taxes Income taxes are recorded using the asset and liability method. Under the asset and liability method, tax assets and liabilities are recognized for the tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Future tax assets and liabilities are measured using the enacted tax rates expected to apply when the asset is realized or the liability settled. The effect on future tax assets and liabilities of a change in tax rates is recognized in income in the period that enactment occurs. To the extent that the Company does not consider it more likely than not that a future tax asset will be recovered, it provides a valuation allowance against the excess. Interest and penalties associated with unrecognized tax benefits, if any, are classified as additional income taxes in the statement of operations. The current period net income will be offset against the prior periods net operating losses which were approximately $ 32 |
Reclassification | Reclassification Certain reclassifications may have been made to our prior year’s financial statements to conform to our current year presentation. These reclassifications had no effect on our previously reported results of operations or accumulated deficit. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Apr. 30, 2022 | |
Accounting Policies [Abstract] | |
Schedule of Fair Value of Financial Instruments | Schedule of Fair Value of Financial Instruments Fair value measurements at reporting date using: Description Fair Value Quoted prices in Significant Significant Warrant and convertible note derivative liability at April 30, 2022 $ 815,452 - - $ 815,452 Warrant and convertible note derivative liability at January 31, 2022 $ - - - $ - |
Stock options (Tables)
Stock options (Tables) | 3 Months Ended |
Apr. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of Stock Option Activity | Qualified and Non-qualified incentive stock options outstanding at April 30, 2022 are as follows: Schedule of Stock Option Activity Number of options Weighted average exercise price per share Outstanding, January 31, 2022 145,250 $ 2.965 Granted 118,760 16.97 Expired - - Exercised - - Outstanding, April 30, 2022 264,010 $ 9.27 Exercisable, April 30, 2022 264,010 $ 9.27 |
Warrants (Tables)
Warrants (Tables) | 3 Months Ended |
Apr. 30, 2022 | |
Warrants | |
Schedule of Stock Warrants Outstanding | Stock warrants outstanding at April 30, 2022 are as follows: Schedule of Stock Warrants Outstanding Number of warrants Weighted average exercise price per share Outstanding, January 31, 2022 2,164,167 $ 2.16 Issued - - Expired - - Exercised - - Outstanding, April 30, 2022 2,164,167 $ 1.12 Exercisable, April 30, 2022 1,656,685 $ 0.86 |
Derivative Liabilities (Tables)
Derivative Liabilities (Tables) | 3 Months Ended |
Apr. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Changes in Fair Value of Derivative Liabilities | The following table sets forth a reconciliation of changes in the fair value of the Company’s derivative liability: Schedule of Changes in Fair Value of Derivative Liabilities Three months ended April 30, 2022 2021 Beginning balance $ - $ - Total (gain) loss 70,048 (50,652 ) Settlements (22,712 ) (17,406 ) Additions recognized as debt discount 36,890 64,823 Additions due to tainted warrants 731,226 293,528 Ending balance $ 815,452 $ 290,293 Change in unrealized (gain) loss included in earnings relating to derivatives $ 70,048 $ (50,652 ) |
Long-term debt and convertibl_2
Long-term debt and convertible promissory notes (Tables) | 3 Months Ended |
Apr. 30, 2022 | |
Debt Disclosure [Abstract] | |
Summary of Convertible Promissory Notes | Following is a summary of convertible promissory notes: Summary of Convertible Promissory Notes April 30, 2022 January 31, 2022 8 October 2021 October 2022 $ 24,300 $ 69,300 8 November 2021 November 2022 69,000 69,000 8 December 2021 December 2022 63,000 63,000 8 February 2022 February 2023 74,800 - 8 April 2022 April 2023 71,500 - Convertible note payable 302,600 201,300 Less debt discount (41,882 ) (20,178 ) Less current portion of convertible notes (260,718 ) (181,122 ) Long-term convertible notes payable $ - $ - |
Schedule of Fair Value of Finan
Schedule of Fair Value of Financial Instruments (Details) - USD ($) | Apr. 30, 2022 | Jan. 31, 2022 |
Defined Benefit Plan Disclosure [Line Items] | ||
Warrant and convertible note derivative liability | $ 815,452 | |
Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Warrant and convertible note derivative liability | ||
Fair Value, Inputs, Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Warrant and convertible note derivative liability | ||
Fair Value, Inputs, Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Warrant and convertible note derivative liability | $ 815,452 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | Jan. 31, 2022 | |
Accounting Policies [Abstract] | |||
Net operating loss | $ (109,215) | $ (94,092) | $ 32,000,000 |
Related party transactions (Det
Related party transactions (Details Narrative) - USD ($) | Apr. 30, 2022 | Jan. 31, 2022 |
Related Party Transaction [Line Items] | ||
Employee-related liabilities, current | $ 51,762 | $ 811,711 |
Former President [Member] | ||
Related Party Transaction [Line Items] | ||
Employee-related liabilities, current | 15,625 | 15,625 |
Patricia Madaris, CFO [Member] | ||
Related Party Transaction [Line Items] | ||
Employee-related liabilities, current | $ 36,137 | $ 36,137 |
Schedule of Stock Option Activi
Schedule of Stock Option Activity (Details) | 3 Months Ended |
Apr. 30, 2022$ / sharesshares | |
Share-Based Payment Arrangement [Abstract] | |
Number of options, outstanding | shares | 145,250 |
Weighted average exercise price per share, outstanding | $ / shares | $ 2.965 |
Number of options, granted | shares | 118,760 |
Weighted average exercise price per share, granted | $ / shares | $ 16.97 |
Number of options, expired | shares | |
Weighted average exercise price per share, expired | $ / shares | |
Number of options, exercised | shares | |
Weighted average exercise price per share, exercised | $ / shares | |
Number of options, outstanding | shares | 264,010 |
Weighted average exercise price per share, outstanding | $ / shares | $ 9.27 |
Number of options, exercisable | shares | 264,010 |
Weighted average exercise price per share, exercisable | $ / shares | $ 9.27 |
Stock options (Details Narrativ
Stock options (Details Narrative) - $ / shares | Apr. 30, 2022 | Apr. 22, 2022 | Apr. 30, 2022 |
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Weighted average remaining life, terms | 17 years 7 days | ||
Weighted average, intrinsic value | $ 0 | ||
Options exercise price | $ 16.97 | ||
Mr. Briscoe [Member] | |||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Stock options, granted | 118,760 | ||
Mr. Briscoe [Member] | Exercise Price $19.00 [Member] | |||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Stock options, granted | 105,000 | ||
Options exercise price | $ 19 | ||
Mr. Briscoe [Member] | Exercise Price $1.50 [Member] | |||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Stock options, granted | 13,760 | ||
Options exercise price | $ 1.50 | ||
Option, grants | $ 44,706 |
Schedule of Stock Warrants Outs
Schedule of Stock Warrants Outstanding (Details) - Warrant [Member] | 3 Months Ended |
Apr. 30, 2022$ / sharesshares | |
Number of warrants, Outstanding | shares | 2,164,167 |
Weighted average exercise price, Outstanding | $ / shares | $ 2.16 |
Number of warrants, Issued | shares | |
Weighted average exercise price, Issued | $ / shares | |
Number of warrants, Expired | shares | |
Weighted average exercise price, Expired | $ / shares | |
Number of warrants, Exercised | shares | |
Weighted average exercise price, Exercised | $ / shares | |
Number of warrants, Outstanding | shares | 2,164,167 |
Weighted average exercise price, Outstanding | $ / shares | $ 1.12 |
Number of warrants, Exercisable | shares | 1,656,685 |
Weighted average exercise price, Exercisable | $ / shares | $ 0.86 |
Warrants (Details Narrative)
Warrants (Details Narrative) - USD ($) | May 18, 2022 | Apr. 30, 2022 |
Subsequent Event [Line Items] | ||
Share purchase warrants exercisable | 2,164,167 | |
Warrants weighted average remaining life | 3 years 1 month 9 days | |
Weighted average exercise price of warrant | $ 1.12 | |
Weighted average intrinsic value for warrants outstanding | $ 51,548 | |
Subsequent Event [Member] | ||
Subsequent Event [Line Items] | ||
Warrants expiration extend, description | the Company extended all warrants issued by the Company which expired or will expire during the year 2022. These warrants are extended for an additional three years. All other terms of the warrants remain unchanged, fully considering the reverse split effective on February 25, 2021 |
Schedule of Changes in Fair Val
Schedule of Changes in Fair Value of Derivative Liabilities (Details) - USD ($) | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Beginning balance | ||
Total (gain) loss | 70,048 | (50,652) |
Settlements | (22,712) | (17,406) |
Additions recognized as debt discount | 36,890 | 64,823 |
Additions due to tainted warrants | 731,226 | 293,528 |
Ending balance | 815,452 | 290,293 |
Change in unrealized (gain) loss included in earnings relating to derivatives | $ 70,048 | $ (50,652) |
Derivative Liabilities (Details
Derivative Liabilities (Details Narrative) | 3 Months Ended | ||
Apr. 30, 2022USD ($) | Apr. 30, 2021USD ($) | Jan. 31, 2022USD ($) | |
Derivative [Line Items] | |||
Derivative liabilities | $ 815,452 | ||
Gain (loss) on derivative liability | 19,300 | $ 3,000 | |
Gain (loss) on derivative liability | $ (70,048) | 50,652 | |
Derivative Liability [Member] | |||
Derivative [Line Items] | |||
Conversion note, description | Conversion of the notes to stock would be completed monthly after any holding period and would be limited based on: 5% of the last 6 months average trading volume and the ownership limit identified in the contract assuming the underlying number of common shares increases at 1% per month | ||
Percentage of exercise price for warrant, description | The Holder would exercise the warrant after any holding period prior to maturity at target prices starting at 2 times the exercise price for the Warrants or higher subject to monthly limits of: 5% of the last 6 months average trading volume increasing by 1% per month and the ownership limit identified in the contract assuming the underlying number of common shares increases at 1% per month | ||
Derivative loss | $ 0 | ||
Amortization of debt discount | 36,890 | ||
Interest expense | 24,389 | ||
Gain (loss) on derivative liability | 12,501 | ||
Reclassification of derivative liability to equity | 0 | 0 | |
Reclassification due to conversion of convertible notes | 22,712 | 17,406 | |
Gain (loss) on derivative liability | 70,048 | $ 50,652 | |
Derivative Liability [Member] | Convertible Debt [Member] | |||
Derivative [Line Items] | |||
Derivative liabilities | 36,890 | ||
Derivative Liability [Member] | Warrant [Member] | |||
Derivative [Line Items] | |||
Derivative liabilities | $ 731,226 | ||
Minimum [Member] | Measurement Input, Price Volatility [Member] | |||
Derivative [Line Items] | |||
Fair value assumptions, measurement input, percentages | 0.754 | ||
Maximum [Member] | Measurement Input, Price Volatility [Member] | |||
Derivative [Line Items] | |||
Fair value assumptions, measurement input, percentages | 1.874 |
Summary of Convertible Promisso
Summary of Convertible Promissory Notes (Details) - USD ($) | Apr. 30, 2022 | Jan. 31, 2022 |
Debt Instrument [Line Items] | ||
Convertible note payable | $ 302,600 | $ 201,300 |
Less debt discount | (41,882) | (20,178) |
Less current portion of convertible notes | (260,718) | (181,122) |
Long-term convertible notes payable | ||
Convertible Debt One [Member] | ||
Debt Instrument [Line Items] | ||
Convertible note payable | 24,300 | 69,300 |
Convertible Debt Two [Member] | ||
Debt Instrument [Line Items] | ||
Convertible note payable | 69,000 | 69,000 |
Convertible Debt Three [Member] | ||
Debt Instrument [Line Items] | ||
Convertible note payable | 63,000 | 63,000 |
Convertible Debt Four [Member] | ||
Debt Instrument [Line Items] | ||
Convertible note payable | 74,800 | |
Convertible Debt Five [Member] | ||
Debt Instrument [Line Items] | ||
Convertible note payable | $ 71,500 |
Summary of Convertible Promis_2
Summary of Convertible Promissory Notes (Details) (Parenthetical) | 3 Months Ended |
Apr. 30, 2022 | |
Convertible Debt One [Member] | |
Debt Instrument [Line Items] | |
Convertible notes payable, interest rate | 8.00% |
Debt issuance date | 2021-10 |
Debt maturity date | 2022-10 |
Convertible Debt Two [Member] | |
Debt Instrument [Line Items] | |
Convertible notes payable, interest rate | 8.00% |
Debt issuance date | 2021-11 |
Debt maturity date | 2022-11 |
Convertible Debt Three [Member] | |
Debt Instrument [Line Items] | |
Convertible notes payable, interest rate | 8.00% |
Debt issuance date | 2021-12 |
Debt maturity date | 2022-12 |
Convertible Debt Four [Member] | |
Debt Instrument [Line Items] | |
Convertible notes payable, interest rate | 8.00% |
Debt issuance date | 2022-02 |
Debt maturity date | 2023-02 |
Convertible Debt Five [Member] | |
Debt Instrument [Line Items] | |
Convertible notes payable, interest rate | 8.00% |
Debt issuance date | 2022-04 |
Debt maturity date | 2023-04 |
Long-term debt and convertibl_3
Long-term debt and convertible promissory notes (Details Narrative) | Apr. 25, 2022USD ($)Integer | Feb. 07, 2022USD ($)Integer | Feb. 16, 2021USD ($) | Jun. 22, 2020USD ($) | Apr. 30, 2022USD ($) | Jan. 31, 2022USD ($) | Apr. 30, 2022USD ($) | Apr. 30, 2021USD ($) |
Short-Term Debt [Line Items] | ||||||||
Original Issue Discount | $ 19,300 | $ 19,300 | $ 3,000 | |||||
Debt Instrument, Unamortized Discount, Noncurrent | 41,882 | $ 20,178 | 41,882 | |||||
Amortization of Debt Discount (Premium) | 34,486 | 23,306 | ||||||
Gain on forgiveness of SBA loan | 32,851 | |||||||
Notes Payable | 57,150 | 64,897 | 57,150 | |||||
Notes Payable, Noncurrent | 32,400 | 64,897 | 32,400 | |||||
Notes payables, current | 24,750 | $ 24,750 | ||||||
Accrued interest | $ 2,274 | $ 2,287 | ||||||
SBA's Economic Injury Disaster Loan Program [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Proceeds from Loan Originations | $ 32,300 | |||||||
Debt Instrument, Fee Amount | $ 100 | |||||||
Line of Credit Facility, Interest Rate During Period | 3.75% | |||||||
Debt Instrument, Term | 30 years | |||||||
Debt Instrument, Frequency of Periodic Payment | monthly installments | |||||||
Debt Instrument, Periodic Payment | $ 158 | |||||||
PPP Loan [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Proceeds from Loan Originations | $ 32,497 | |||||||
Line of Credit Facility, Interest Rate During Period | 1.00% | |||||||
Debt Instrument, Term | 5 years | |||||||
Gain on forgiveness of SBA loan | $ 32,497 | |||||||
Interest and Debt Expense | $ 354 | |||||||
Premium Finance Agreement [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Debt instrument, interest rate | 10.45% | 10.45% | ||||||
Debt Instrument, Periodic Payment | $ 2,871 | |||||||
Insurance policy premiums | $ 33,400 | |||||||
Insurance policy premiums description | one year policy period | |||||||
Insurance financed | $ 24,750 | |||||||
Convertiable Promissory Note [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Debt instrument, face value | $ 71,500 | $ 74,800 | ||||||
Debt instrument, interest rate | 8.00% | 8.00% | ||||||
Original Issue Discount | $ 8,000 | $ 9,800 | ||||||
Debt Instrument, Maturity Date | Apr. 25, 2023 | Feb. 7, 2023 | ||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | Integer | 180 | 180 | ||||||
February 2022 Note [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 75.00% | |||||||
Debt Instrument, Convertible, Threshold Trading Days | Integer | 10 | |||||||
April 2022 Note [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 75.00% | |||||||
Debt Instrument, Convertible, Threshold Trading Days | Integer | 10 | |||||||
Convertible Debt [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Debt Instrument, Unamortized Discount, Noncurrent | $ 36,890 | $ 36,890 | $ 64,823 |
Stockholders_ deficit (Details
Stockholders’ deficit (Details Narrative) - USD ($) | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Company issued common stock for conversions | 144,304 | |
Stock Issued During Period, Value, Conversion of Convertible Securities | $ 45,000 | $ 27,000 |
Minimum [Member] | ||
Debt Instrument, Convertible, Conversion Price | $ 0.3051 | |
Maximum [Member] | ||
Debt Instrument, Convertible, Conversion Price | $ 0.3207 |
Commitments and contingencies (
Commitments and contingencies (Details Narrative) | Apr. 22, 2022USD ($) | Aug. 22, 2019USD ($) | Apr. 30, 2022USD ($)a$ / shares | Apr. 30, 2021USD ($) |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Lease due date | Sep. 1, 2022 | |||
Written off liabilities | $ 1,072,667 | |||
Debt, Current | 29,677 | |||
APIC, Share-Based Payment Arrangement, Option, Increase for Cost Recognition | 44,706 | |||
[custom:GainOnSettlementOfDebt] | $ 998,284 | |||
Former Chief Executive Officer [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Loss contingency damages sought value | $ 50,000 | |||
James Briscoe [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Debt Instrument, Periodic Payment | $ 29,627 | |||
AZ MEP [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Project validity description | AZ MEP permits cost $500 per permit per year in non-refundable filing fees and are valid for 1 year and renewable for up to 5 years | |||
AZ MEP [Member] | Phase 1 [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Minimum work expenditure requirements | $ 29,355 | |||
AZ MEP [Member] | First Year [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Rental fee per acre | $ / shares | $ 2 | |||
Minimum work expenditure requirements | $ 10 | |||
AZ MEP [Member] | Three Through Five Year [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Rental fee per acre | $ / shares | $ 1 | |||
AZ MEP [Member] | Second Year [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Minimum work expenditure requirements | $ 10 | |||
AZ MEP [Member] | Third Year [Membe] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Minimum work expenditure requirements | 20 | |||
AZ MEP [Member] | Fourth Year [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Minimum work expenditure requirements | 20 | |||
AZ MEP [Member] | Fifth Year [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Minimum work expenditure requirements | 20 | |||
Tombstone Project [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Annual rental | $ 165 | |||
Project validity description | The rentals due by September 1, 2022 for the period from September 1, 2022 through September 1, 2023 of $15,345 have not been paid yet, but we plan to pay when due | |||
Accrued Rent | $ 15,345 | |||
Area of land | a | 15,793.24 | |||
Tombstone Region of Arizona [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Payments for Rent | $ 45 |
Subsequent events (Details Narr
Subsequent events (Details Narrative) - USD ($) | Jun. 09, 2022 | May 31, 2022 | May 23, 2022 | Apr. 30, 2022 | Apr. 30, 2021 |
Subsequent Event [Line Items] | |||||
Interest Expense | $ 40,034 | $ 38,184 | |||
Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | |||||
Number of common stock shares issued in conversion | 77,519 | 98,386 | |||
Number of common stock shares issued in conversion, value | $ 20,000 | $ 24,300 | |||
Interest Expense | $ 2,520 | ||||
Conversion exercise price per share | $ 0.2546 | $ 0.2580 | $ 0.2726 | ||
Conversion of common stock, shares | 80,518 | ||||
Conversion of common stock, value | $ 20,500 |