| Document and Entity Information - shares | 9 Months Ended | |
| May. 31, 2013 | Nov. 05, 2015 | |
| Document and Entity Information: | ||
| Entity Registrant Name | AMERICAN PARAMOUNT GOLD CORP. | |
| Entity Central Index Key | 1,373,690 | |
| Document Type | 10-Q | |
| Document Period End Date | May 31, 2013 | |
| Amendment Flag | false | |
| Current Fiscal Year End Date | --08-31 | |
| Entity Filer Category | Smaller Reporting Company | |
| Entity Voluntary Filers | No | |
| Entity Well-known Seasoned Issuer | No | |
| Entity Current Reporting Status | No | |
| Entity Common Stock, Shares Outstanding | 4,612,500 | |
| Document Fiscal Period Focus | Q3 | |
| Document Fiscal Year Focus | 2,013 |
| BALANCE SHEETS - USD ($) | May. 31, 2013 | Aug. 31, 2012 |
| Current Assets | ||
| Cash | $ 2 | |
| Excise tax receivable | $ 977 | |
| Total Assets | $ 2 | 977 |
| Current Liabilities | ||
| Bank overdraft | 5,529 | |
| Accounts payable | $ 292,920 | 289,039 |
| Accrued liabilities | 213,194 | 140,092 |
| Convertible loans payable - related party | 980,413 | 975,652 |
| Total Liabilities | 1,486,527 | 1,410,312 |
| STOCKHOLDERS' DEFICIT | ||
| Common stock 3,750,000 authorized shares, par value $0.001, 1,612,500 shares issued and outstanding as at May 31, 2013 and August 31, 2012 | 1,613 | 1,613 |
| Additional paid-in capital | 3,291,370 | 3,291,370 |
| Stock payable | 476,191 | 476,191 |
| Deficit | (5,255,699) | (5,178,509) |
| Total Stockholders' Deficit | (1,486,525) | (1,409,335) |
| Total Liabilities and Stockholders' Deficit | $ 2 | $ 977 |
| BALANCE SHEETS (Parenthetical) - $ / shares | May. 31, 2013 | Aug. 31, 2012 |
| STOCKHOLDERS' DEFICIT | ||
| Common Stock, par value | $ 0.001 | $ 0.001 |
| 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 - USD ($) | 3 Months Ended | 9 Months Ended | ||
| May. 31, 2013 | May. 31, 2012 | May. 31, 2013 | May. 31, 2012 | |
| Operating expenses | ||||
| Consulting | $ 1,001 | $ 34,953 | ||
| Exploration | 432,280 | |||
| General and administrative | $ 1,499 | $ 12,700 | $ 4,088 | 34,625 |
| Professional fees | 3,739 | |||
| Total operating expenses | $ 1,499 | $ 13,701 | $ 4,088 | 505,597 |
| Net loss from operations | $ (1,499) | $ (13,701) | $ (4,088) | (505,597) |
| Other expenses | ||||
| Impairment of mining claims | 250,000 | |||
| Impairment of capital assets | 15,693 | |||
| Interest expense | $ 24,712 | $ 24,560 | $ 73,103 | 68,632 |
| Total other expenses | 24,712 | 24,560 | 73,103 | 334,325 |
| Net and comprehensive loss | $ (26,211) | $ (38,261) | $ (77,191) | $ (839,922) |
| BASIC AND DILUTED LOSS PER COMMON SHARE | $ (0.02) | $ (0.02) | $ (0.05) | $ (0.52) |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED | 1,612,500 | 1,612,500 | 1,612,500 | 1,612,500 |
| STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | 9 Months Ended | ||
| May. 31, 2013 | May. 31, 2012 | May. 31, 2013 | May. 31, 2012 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
| Net loss | $ (26,211) | $ (38,261) | $ (77,191) | $ (839,922) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||
| Impairment of mining claims | 250,000 | |||
| Impairment of capital assets | 15,693 | |||
| Interest expense | $ 24,712 | $ 24,560 | $ 73,103 | 68,632 |
| Changes in operating assets and liabilities: | ||||
| Decrease in excise tax receivable | $ 977 | 15,479 | ||
| Decrease in prepaids | 39,629 | |||
| Increase in accounts payable and accrued liabilities | $ 3,881 | 205,008 | ||
| NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES | 770 | (245,431) | ||
| CASH FLOW FROM FINANCING ACTIVITIES | ||||
| Bank overdraft repayments | (5,529) | (21,882) | ||
| Convertible loan proceeds - related party | 4,761 | 198,775 | ||
| NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES | (768) | 173,893 | ||
| Net change in Cash | $ 2 | (71,538) | ||
| CASH, BEGINNING OF THE PERIOD | 71,552 | |||
| CASH, END OF THE PERIOD | $ 2 | $ 14 | $ 2 | $ 14 |
| ORGANIZATION AND NATURE OF BUSINESS | 9 Months Ended |
| May. 31, 2013 | |
| Notes to Financial Statements | |
| Note 1 - ORGANIZATION AND NATURE OF BUSINESS | American Paramount Gold Corp., a Nevada corporation, (the "Company") was incorporated in the State of Nevada on July 20, 2006. The Company was formed to engage in the acquisition, exploration and development of natural resource properties. Unaudited Interim Financial Statements The unaudited interim 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, 2012, 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 nine month period ended May 31, 2013 are not necessarily indicative of the results that may be expected for the year ending August 31, 2013. Going Concern The accompanying unaudited interim financial statements have been prepared assuming the Company will continue as a going concern. Continuation as a going concern is dependent upon the ability of the Company to obtain the necessary obligations and pay its liabilities arising from normal business operations when they come due and ultimately upon its ability to achieve profitable operations. The outcome of these matters cannot be predicted with any certainty at this time and raise substantial doubt that the Company will be able to continue as a going concern. These unaudited interim financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. Recent Accounting Pronouncements The following are recent FASB accounting pronouncements, which may have an impact on the Company's future financial statements: "In come Taxes (ASC Topic 740): Presentation of an Unrecognized Tax Benefit when a Net Operating Loss Carry-forward, a Similar Tax Loss, or a Tax Credit Carry-forward Exists" ( In June 2014, the FASB issued ASU No. 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." In August 2014, the FASB issued ASU No. 2014-15, " Presentation of Financial StatementsGoing Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern |
| CONVERTIBLE LOAN - RELATED PARTY | 9 Months Ended |
| May. 31, 2013 | |
| Notes to Financial Statements | |
| Note 2 - CONVERTIBLE LOAN - RELATED PARTY | On April 22, 2010, and as amended December 17, 2010, the Company entered into an agreement with Monaco Capital Inc., majority shareholder, for a principal amount of up to $5,000,000. The loan is unsecured and bears interest at the rate of 10% per annum. The Company may at any time during the term of the loan prepay any sum up to the full amount of the loan and accrued interest then outstanding at any time for the sum plus an additional 10% of such amount. The loan (including accrued interest) is convertible into securities of the Company at a conversion price calculated as the mean volume weighted average price for the Company's common stock during the ten (10) trading day period ending on the latest complete trading day prior to the conversion date. At any time after the advancement date, if the Company has not paid the loan and accrued interest in full, the Lender may, by providing written notice to the Company, exercise its rights of conversion in respect of either a portion of the total outstanding amount of the loan as of that date into shares of the Company. The amounts advanced plus accrued interest are due on year following the date advanced. At May 31, 2013, $975,652 plus related interest is past due. As at May 31, 2013, interest of $213,194 (August 31, 2012 - $140,092) is included in accrued liabilities. |
| COMMON STOCK | 9 Months Ended |
| May. 31, 2013 | |
| Notes to Financial Statements | |
| Note 3 - COMMON STOCK | On October 13, 2015, the Company amended its Articles of Incorporation to increase its authorized and issued and outstanding common shares to 200,000,000 common shares at a par value of $0.001 and 10,000,000 preferred shares at a par value of $0.001. |
| STOCK OPTIONS | 9 Months Ended |
| May. 31, 2013 | |
| Notes to Financial Statements | |
| Note 4 - STOCK OPTIONS | The Company has adopted a stock option plan (the "2010 Plan") which permits the Company to issue up to 6,500,000 shares of common stock to directors, officers, employees and consultants of the Company upon the exercise of stock options granted under the 2010 Plan. At the time of the grant of the option, the plan administrator shall designate the expiration date of the option, which date shall not be later than five (5) years from the date of grant. The vesting schedule for each option shall be specified by the plan administrator at the time of grant of the option. Effective September 29, 2010 the 2010 Plan provides for an exercise price to be established based on the fair market value of a common share of the Company being the average of the high and low sales prices (or bid and ask prices, if sales prices are not reported) for the common stock for the last trading day immediately preceding the date with respect to which fair market value is being determined, as reported for the principal trading market for the common stock. A summary of the Company's stock options outstanding as at May 31, 2013 and August 31, 2012 is presented below: Number of options outstanding and exercisable Weighted Average Exercise price Weighted Average life remaining (years) Balance, August 31, 2011 and 2012 5,150,000 $ 0.12 2.68 Expired (150,000 ) $ 0.12 Balance, May 31, 2013 5,000,000 $ 0.12 The following is a summary of the Company's stock options outstanding and exercisable as at November 30, 2012: Number of options outstanding and exercisable Exercise Price Expiry Date 5,000,000 $ 0.12 March 2, 2016 5,000,000 |
| RELATED PARTY TRANSACTIONS | 9 Months Ended |
| May. 31, 2013 | |
| Notes to Financial Statements | |
| Note 5- RELATED PARTY TRANSACTIONS | During the nine months ended May 31, 2013, consulting fees of $Nil (2012 - $14,725) and $Nil (2012:$9,500) were incurred to the President and a director of the Company, respectively. At May 31, 2013, Monaco Capital Inc., a majority shareholder has advanced $980,413 (August 31, 2012 - $975,652) with terms as discussed in Note 2. |
| SUBSEQUENT EVENTS | 9 Months Ended |
| May. 31, 2013 | |
| Notes to Financial Statements | |
| Note 6 - SUBSEQUENT EVENTS | On October 1, 2015, Dennis Petke was appointed as the sole officer of the Company, and as a director of the Company. The Company entered into an agreement with a company owned by Dennis Petke beginning on October 1, 2015 whereby the Company will pay a monthly service fee of $2,500 and issue on a monthly basis 50,000 shares of the Company's common stock for the services of Mr. Petke. This agreement can be terminated by the Company with 180 days notice, and by the company owned by Mr. Petke with 30 days notice. |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
| May. 31, 2013 | |
| Summary Of Significant Accounting Policies Policies | |
| Unaudited Interim Financial Statements | The unaudited interim 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, 2012, 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 nine month period ended May 31, 2013 are not necessarily indicative of the results that may be expected for the year ending August 31, 2013. |
| Going Concern | The accompanying unaudited interim financial statements have been prepared assuming the Company will continue as a going concern. Continuation as a going concern is dependent upon the ability of the Company to obtain the necessary obligations and pay its liabilities arising from normal business operations when they come due and ultimately upon its ability to achieve profitable operations. The outcome of these matters cannot be predicted with any certainty at this time and raise substantial doubt that the Company will be able to continue as a going concern. These unaudited interim financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. |
| Recent Accounting Pronouncements | The following are recent FASB accounting pronouncements, which may have an impact on the Company's future financial statements: "In come Taxes (ASC Topic 740): Presentation of an Unrecognized Tax Benefit when a Net Operating Loss Carry-forward, a Similar Tax Loss, or a Tax Credit Carry-forward Exists" ( In June 2014, the FASB issued ASU No. 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." In August 2014, the FASB issued ASU No. 2014-15, " Presentation of Financial StatementsGoing Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern |
| STOCK OPTIONS (Tables) | 9 Months Ended |
| May. 31, 2013 | |
| Stock Options Tables | |
| Valuation of stock options | A summary of the Company's stock options outstanding as at May 31, 2013 and August 31, 2012 is presented below: Number of options outstanding and exercisable Weighted Average Exercise price Weighted Average life remaining (years) Balance, August 31, 2011 and 2012 5,150,000 $ 0.12 2.68 Expired (150,000 ) $ 0.12 Balance, May 31, 2013 5,000,000 $ 0.12 |
| A summary of the status of the Company's stock option plan | The following is a summary of the Company's stock options outstanding and exercisable as at November 30, 2012: Number of options outstanding and exercisable Exercise Price Expiry Date 5,000,000 $ 0.12 March 2, 2016 5,000,000 |
| CONVERTIBLE LOAN - RELATED PARTY (Details Narrative) | May. 31, 2013USD ($) |
| Convertible Loan - Related Party Details Narrative | |
| Owing interest included in accounts payable | $ 975,652 |
| Accrued liabilities | $ 213,194 |
| STOCK OPTIONS (Details) | 9 Months Ended |
| May. 31, 2013$ / sharesshares | |
| Number of Shares | |
| Outstanding at beginning of year | shares | 5,150,000 |
| Expired | shares | (150,000) |
| Outstanding at end of year | shares | 5,000,000 |
| Exercisable | shares | 5,000,000 |
| Weighted average exercise price | |
| Outstanding at beginning of year | $ 0.12 |
| Expired | 0.12 |
| Outstanding at end of year | 0.12 |
| Exercisable | $ 0.12 |
| Weighted Average life remaining (years) | 2 years 8 months 5 days |
| STOCK OPTIONS (Details 1) | 9 Months Ended |
| May. 31, 2013$ / sharesshares | |
| Number of options outstanding and exercisable | shares | 5,000,000 |
| Exercise Price | $ 0.12 |
| March 2, 2016 [Member] | |
| Number of options outstanding and exercisable | shares | 5,000,000 |
| Exercise Price | $ 0.12 |
| Expiry Date | Mar. 2, 2016 |
| RELATED PARTY TRANSACTIONS (Details Narrative) | 9 Months Ended | |
| May. 31, 2013USD ($) | May. 31, 2012USD ($) | |
| Consulting | $ 34,953 | |
| Convertible loans payable - related party | $ 980,413 | |
| President [Member] | ||
| Consulting | 14,725 | |
| Director [Member] | ||
| Consulting | $ 9,500 | |
