Indigenous Roots (IRCC) 10-Q 14 Apr 15 2012 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Nov. 30, 2011	Jun. 15, 2014
Document and Entity Information:
Entity Registrant Name	AMERICAN PARAMOUNT GOLD CORP.
Entity Trading Symbol	APGA
Document Type	10-Q
Document Period End Date	30-Nov-11
Amendment Flag	FALSE
Entity Central Index Key	1373690
Current Fiscal Year End Date	-23
Entity Common Stock, Shares Outstanding		1,612,500
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q1

Balance_Sheets

Balance Sheets (USD $)	Nov. 30, 2011	Aug. 31, 2011
CURRENT ASSETS
Cash	$16,261	$71,552
Sales Tax receivable	19,647	35,126
Prepaids and deposits	0	39,629
TOTAL CURRENT ASSETS	35,908	146,357
Mining claims	0	250,000
Website, net	0	14,618
Equipment, net	0	1,075
TOTAL ASSETS	35,908	412,050
CURRENT LIABILITIES
Bank overdraft	0	21,882
Accounts payable and accrued liabilities	153,932	122,740
Convertible loans payable	831,596	779,877
TOTAL CURRENT LIABILITIES	985,528	924,499
TOTAL LIABILITIES	985,528	924,499
STOCKHOLDERS' DEFICIT
Common stock 3,750,000 authorized shares, par value $0.001 1,612,500 shares issued and outstanding	1,613	1,613
Additional paid-in capital	3,291,370	3,291,370
Stock payable	476,191	476,191
Deficit accumulated during the exploration stage	-4,718,794	-4,281,623
TOTAL STOCKHOLDERS' DEFICIT	-949,620	-512,449
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$35,908	$412,050

Balance_Sheets_Parentheticals

Balance Sheets Parentheticals (USD $)	Nov. 30, 2011	Aug. 31, 2011
Parentheticals
Common Stock, shares par value	$0.00	$0.00
Common Stock, shares authorized	3,750,000	3,750,000
Common Stock, shares issued	1,612,500	1,612,500
Common Stock, shares outstanding	1,612,500	1,612,500

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended
	Nov. 30, 2011	Nov. 30, 2010
OPERATING EXPENSES
Consulting	$14,725	$2,496,769
Exploration	121,640	117,211
General and administrative	11,052	25,783
Management fees	0	33,212
Professional fees	3,739	41,738
TOTAL EXPENSES	151,156	2,714,713
OTHER EXPENSES
Impairment of mining claims	250,000	0
Impairment of capital assets	15,693	0
Amortization of debt discount	0	4,196
Interest expense	20,322	9,585
TOTAL OTHER EXPENSE	286,015	13,781
NET LOSS	($437,171)	($2,728,494)
NET LOSS PER COMMON SHARE - BASIC	($0.27)	($1.69)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC	1,612,500	1,612,500

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	3 Months Ended
	Nov. 30, 2011	Nov. 30, 2010
CASH FLOW FROM OPERATING ACTIVITIES
Net loss	($437,171)	($5,233)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment of capital assets	15,693	0
Impairment of mining claims	250,000	0
Changes in operating assets and liabilities:
Decrease (increase) in sales tax receivable	15,479	0
Decrease (increase) in prepaids and deposits	39,629	0
Increase (decrease) in accounts payable and accrued liabilities	32,911	1,350
NET CASH USED IN OPERATING ACTIVITIES	-89,409	-3,883
CASH FLOW FROM FINANCING ACTIVITIES
Bank overdraft	-21,882	0
Convertible loan proceeds - related party	50,000	0
NET CASH PROVIDED BY FINANCING ACTIVITIES	28,118	0
INCREASE (DECREASE) IN CASH	-55,291	-3,883
CASH, BEGINNING OF PERIOD	71,552	7,419
CASH, END OF PERIOD	$16,261	$3,536

DESCRIPTION_OF_THE_BUSINESS_AN

DESCRIPTION OF THE BUSINESS AND HISTORY	3 Months Ended
	Nov. 30, 2011
DESCRIPTION OF THE BUSINESS AND HISTORY
DESCRIPTION OF THE BUSINESS AND HISTORY	1. DESCRIPTION OF THE BUSINESS AND HISTORY
	American Paramount Gold Corp., a Nevada corporation, (the "Company") was
	incorporated in the State of Nevada on July 20, 2006 as Zebra Resources Inc. The
	Company was formed to engage in the acquisition, exploration and development of
	natural resource properties.
	UNAUDITED INTERIM FINANCIAL STATEMENTS
	The unaudited interim consolidated financial statements of the Company have been
	prepared in accordance with United States generally accepted accounting
	principles ("GAAP") for interim financial information and the rules and
	regulations of the Securities and Exchange Commission ("SEC"). They do not
	include all information and footnotes required by GAAP for complete financial
	statements. Except as disclosed herein, there have been no material changes in
	the information disclosed in the notes to the financial statements for the year
	ended August 31, 2011, included in the Company's Annual Report on Form 10-K,
	filed with the SEC. The interim unaudited financial statements should be read in
	conjunction with those audited financial statements included in Form 10-K. In
	the opinion of management, all adjustments considered necessary for fair
	presentation, consisting solely of normal recurring adjustments, have been made.
	Operating results for the three month period ended November 30, 2011 are not
	necessarily indicative of the results that may be expected for the year ending
	August 31, 2012.
	RECENT ACCOUNTING PRONOUNCEMENTS
	In June 2014, the FASB issued ASU 2014-10, "Development Stage Entities (Topic
	915): Elimination of Certain Financial Reporting Requirements, Including an
	Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation".
	The Company elected to early adopt the guidance in FASB Topic 915 as of November
	30, 2011 and no longer provides the accounting disclosures for development stage
	companies. Accordingly, the figures for the period from inception to the current
	period are no longer provided and all references to development stage operations
	have been removed.
	Other recent accounting pronouncements with future effective dates are not
	expected to have an impact on the Company's financing statements.

MINERAL_PROPERTIES

MINERAL PROPERTIES	3 Months Ended
	Nov. 30, 2011
MINERAL PROPERTIES
MINERAL PROPERTIES	2. MINERAL PROPERTIES
	On April 16, 2010, the Company entered into an option agreement to acquire a
	100% long-term lease interest in 189 unpatented mining claims situated in the
	Walker Lane Structural Belt in Nye County, Nevada (the "Cap Gold Project"). The
	189 claims making up the Cap Gold Project form a contiguous block of
	approximately 3,960 acres. The Company paid $125,000 to secure the option,
	giving it the right to acquire a 100% long-term lease interest in the Cap Gold
	Project. To exercise the option the Company must: (i) make ongoing yearly
	advance production royalty cash payments during the term of the agreement of
	$125,000 in years two through five, $150,000 in years six through twelve,
	$200,000 in years 13 through 20 and $300,000 in years 21 through 30; (ii) incur
	expenditures on exploration of the Cap Gold Project of not less than an
	aggregate of $1,250,000 over five years; and (iii) make production royalty
	payments from production from the property after the advance production royalty
	cash payments described above have been repaid to the Company from production
	from the property. At the Company's election, the production royalty may be
	calculated either on a sliding scale or on a fixed production royalty basis, and
	must range from 1% to a maximum of 3%.
	On March 9, 2012, based on recently released drill results, the Board of
	Directors decided the company could not justify the further expense of
	continuing with its planned drill program at Cap Gold, Nye County, Nevada, USA.
	The Company advised the owners that it was cancelling the option agreement and
	the property is fully impaired as at November 30, 2011.

CONVERTIBLE_LOAN

CONVERTIBLE LOAN	3 Months Ended
	Nov. 30, 2011
CONVERTIBLE LOAN
CONVERTIBLE LOAN	3. CONVERTIBLE LOAN
	On April 22, 2010, the Company entered into a convertible loan agreement with
	Monaco Capital Inc., a major shareholder ("Monaco") wherein Monaco agreed to
	loan the Company up to $500,000 at an interest rate of 10% per annum. The
	principal amount of any funds advanced and accrued interest is due one year from
	the advancement date. The loan (including accrued interest) is convertible into
	common shares of the Company at a conversion price of the volume weighted
	average price for the Company's stock during the 10 day period ending on the
	latest complete trading day prior to conversion.
	As at November 30, 2011, interest of $67,191 (August 31, 2011 - $47,258) is
	included in accounts payable.

COMMON_STOCK

COMMON STOCK	3 Months Ended
	Nov. 30, 2011
COMMON STOCK
COMMON STOCK	4. COMMON STOCK
	On November 28, 2011, the Company amended its Articles of Incorporation to
	implement a forty for one reverse stock split of its authorized and issued and
	outstanding common shares from 150,000,000 shares of common stock with a par
	value of $0.001 to 3,750,000 shares of common stock with a par value of $0.001.
	All share and per share information have been retroactively restated to reflect
	this.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Nov. 30, 2011
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	5. RELATED PARTY TRANSACTIONS
	During the three months ended November 30, 2011, consulting fees of $14,725
	(November 30, 2010 - $Nil) were incurred to the President of the Company.

IMPAIRMENT_OF_CAPITAL_ASSETS

IMPAIRMENT OF CAPITAL ASSETS	3 Months Ended
	Nov. 30, 2011
IMPAIRMENT OF CAPITAL ASSETS
IMPAIRMENT OF CAPITAL ASSETS	6. IMPAIRMENT OF CAPITAL ASSETS
	During the 3 month period ended November 30, 2011, management determined that
	costs capitalized to the development of the Company's website of $14,618 and
	equipment with the carrying value of $1,075 would be unrecoverable and has fully
	impaired the assets accordingly.

MINERAL_PROPERTIES_Details

MINERAL PROPERTIES (Details) (USD $)	Apr. 16, 2010
MINERAL PROPERTIES DETAILS
Option agreement to acquire long-term lease interest	100.00%
Unpatented mining claims in number	189
Cap Gold Project form a contiguous block in acers	3,960
Paid to secure the option	$125,000
Advance production royalty cash payments during the term of the agreement in years two through five	125,000
Advance production royalty cash payments during the term of the agreement in years six through twelve	150,000
Advance production royalty cash payments during the term of the agreement in years 13 through 20	200,000
Advance production royalty cash payments during the term of the agreement in years 21 through 30	300,000
Expenditures on exploration of the Cap Gold Project	$1,250,000
Production royalty range minimum	1.00%
Production royalty range maximum	3.00%

CONVERTIBLE_LOAN_Details

CONVERTIBLE LOAN (Details) (USD $)	Nov. 30, 2011	Aug. 31, 2011	Apr. 22, 2010
CONVERTIBLE LOAN DETAILS
Convertible loans			$500,000
Convertible loans interest rate per annum			10.00%
Interest included in accounts payable	$67,191	$47,258

CAPITAL_STOCK_TRANSACTIONS_Det

CAPITAL STOCK TRANSACTIONS (Details) (USD $)	Nov. 28, 2011
CAPITAL STOCK TRANSACTIONS:
Reverse stock split of authorized and issued and outstanding common shares	150,000,000
Shares of common stock at a par value	$0.00
Reverse stock split of shares of common stock from 150,000,000 to shares of common stock	3,750,000
Common stock with a par value	$0.00

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	3 Months Ended
	Nov. 30, 2011	Nov. 30, 2010
RELATED PARTY TRANSACTIONS DETAILS
Consulting fees	$14,725	$0

IMPAIRMENT_OF_CAPITAL_ASSETS_D

IMPAIRMENT OF CAPITAL ASSETS (Details) (USD $)	Nov. 30, 2011
IMPAIRMENT OF CAPITAL ASSETS DETAILS
Captalized website development costs	$14,618
Captalized equipment costs	$1,075