Capital Stock | 3 Months Ended |
Sep. 30, 2013 |
Capital Stock [Text Block] | ' |
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3. Capital Stock |
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Authorized Stock |
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At inception, the Company authorized 100,000,000 common shares and 100,000,000 preferred shares, both with a par value of $0.001 per share. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought. |
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Effective April 8, 2009, the Company increased the number of authorized shares to 600,000,000 shares, of which 500,000,000 shares are designated as common stock par value $0.001 per share, and 100,000,000 shares are designated as preferred stock, par value $0.001 per share. |
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Share Issuances |
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For the period ended September 30, 2013: |
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On July 1, 2013, the Company issued 80,000 common shares at a market price of $0.10 per share for consulting fees. |
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On July 1, 2013, the Company issued 37,594 common shares at the weighted average price of $0.1330 per share for consulting fees. |
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On July 3, 2013, the Company issued 954,461 common shares at a deemed price of $0.0825 per share for note payable conversion of $105,410 (Note 5). |
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On July 9, 2013, the Company issued 2,000,000 common shares at a deemed price of $0.045 per share for debenture conversion of $138,462 (Note 6). |
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On July 15, 2013, the Company issued 181,818 common shares at a market price of $0.11 per share for consulting fees. |
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On July 15, 2013, the Company issued 54,545 common shares at a market price of $0.11 per share for consulting fees. |
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On August 1, 2013, the Company issued 48,485 common shares at a market price of $0.1650 per share for consulting fees. |
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On August 1, 2013, the Company issued 46,997 common shares at a weighted average price of $0.1454 per share for consulting fees. |
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On August 13, 2013, the Company issued 1,585,714 common shares at a deemed price of $0.0735 per share for promissory note and interest conversion of $163,693 (Note 7). |
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On August 14, 2013, the Company issued 844,300 common shares at a deemed price of $0.0525 per share for debenture conversion of $68,194 (Note 6). |
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On August 15, 2013, the Company issued 28,736 common shares at a market price of $0.2088 per share for consulting fees. |
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On September 1, 2013, the Company issued 57,469 common shares at a weighted average price of $0.1450 per share for consulting fees. |
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On September 1, 2013, the Company issued 61,069 common shares at a market price of $0.1310 per share for consulting fees. |
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On September 6, 2013, the Company issued 2,375,052 common shares at a deemed price of $0.19 per share for warrants exercise of $446,789 (Note 7). |
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On September 15, 2013, the Company issued 48,702 common shares at a market price of $0.1232 per share for consulting fees. |
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On September 19, 2013, the Company issued 1,400,000 common shares at a deemed price of $0.045 per share for debenture conversion of $96,923 (Note 6). |
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On September 23, 2013, the Company issued 1,293,717 common shares at a deemed price of $0.04 per share for warrants exercise of $56,486 (Note 7). |
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For the year ended June 30, 2013: |
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On July 10, 2012, the Company issued 1,504,415 common shares at a deemed price of $0.1925 per share for debenture conversion and accrued interest of $289,600 (Note 6). |
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On August 21, 2012, the Company issued 815,047 common shares at a deemed price of $0.1595 per share for debenture conversion of $130,000 (Note 6). |
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On September 17, 2012, the Company issued 1,581,028 common shares at a deemed price of $0.1265 per share for debenture conversion of $200,000 (Note 6). |
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On October 25, 2012, the Company cancelled 20,000,000 common shares and in exchange, 20,000,000 preferred shares were issued. |
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On November 1, 2012, the Company issued 62,500 common shares at a market price of $0.24 per share for mining expenses. |
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On November 13, 2012, the Company issued 41,667 common shares at a market price of $0.24 per share for investor relation expenses. |
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On November 22, 2012, the Company issued 949,171 common shares at a deemed price of $0.1170 per share for debenture conversion and accrued interest of $111,053 (Note 6). |
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On December 1, 2012, the Company issued 55,556 common shares at a market price of $0.27 per share for mining expenses. |
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On December 13, 2012, the Company issued 38,462 common shares at a market price of $0.26 per share for investor relation expenses. |
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On January 2, 2013, the Company issued 55,556 common shares at a market price of $0.27 per share for mining expenses. |
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On January 14, 2013, the Company issued 40,000 common shares at a market price of $0.25 per share for investor relation expenses. |
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On January 25, 2013, the Company issued 1,028,113 common shares at a deemed price of $0.25 per share for warrants exercise of $257,028 (Note 6). |
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On February 1, 2013, the Company issued 78,947 common shares at a market price of $0.19 per share for mining expenses. |
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On February 14, 2013, the Company issued 41,667 common shares at a market price of $0.24 per share for investor relation expenses. |
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On February 19, 2013, the Company issued 2,000,000 common shares at a deemed price of $0.077 per share for debenture conversion of $154,000 (Note 6). |
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On March 1, 2013, the Company issued 48,387 common shares at a market price of $0.31 per share for mining expenses. |
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On March 1, 2013, the Company issued 25,806 common shares at a market price of $0.31 per share for consulting fees. |
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On March 8, 2013, the Company issued 2,000,000 common shares at a deemed price of $0.077 per share for debenture conversion of $154,000 (Note 6). |
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On March 14, 2013, the Company issued 47,619 common shares at a market price of $0.21 per share for investor relation expenses. |
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On March 15, 2013, the Company issued 2,000,000 common shares at a deemed price of $0.095 per share for debenture conversion of $190,000 (Note 6). |
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On March 15, 2013, the Company issued 38,876 common shares at a market price of $0.2315 per share for consulting fees. |
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On March 15, 2013, the Company issued 95,238 common shares at a market price of $0.21 per share for consulting fees. |
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On March 27, 2013, the Company issued 389,189 common shares at a market price of $0.185 per share for investor relation expenses. |
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On April 1, 2013, the Company issued 71,429 common shares at a market price of $0.21 per share for mining expenses. |
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On April 1, 2013, the Company issued 38,095 common shares at a market price of $0.21 per share for consulting fees. |
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On April 15, 2013, the Company issued 100,000 common shares at a market price of $0.20 per share for consulting fees. |
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On April 15, 2013, the Company issued 57,007 common shares at a market price of $0.2105 per share for consulting fees. |
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On April 15, 2013, the Company issued 50,000 common shares at a market price of $0.20 per share for investor relation expenses. |
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On April 23, 2013, the Company issued 2,000,000 common shares at a deemed price of $0.0805 per share for debenture conversion of $161,000 (Note 6). |
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On April 29, 2013, the Company issued 300,000 common shares at a market price of $0.18 per share for director fees. |
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On May 1, 2013, the Company issued 47,059 common shares at a market price of $0.17 per share for consulting fees. |
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On May 13, 2013, the Company issued 2,000,000 common shares at a deemed price of $0.075 per share for debenture conversion of $150,000 (Note 6). |
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On May 15, 2013, the Company issued 113,636 common shares at a market price of $0.1760 per share for consulting fees. |
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On May 15, 2013, the Company issued 70,588 common shares at a market price of $0.17 per share for consulting fees. |
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On May 30, 2013, the Company issued 2,400,000 common shares at a deemed price of $0.075 per share for debenture conversion of $180,000 (Note 6). |
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On June 1, 2013, the Company issued 50,000 common shares at a market price of $0.16 per share for consulting fees. |
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On June 14, 2013, the Company issued 142,857 common shares at a market price of $0.14 per share for consulting fees. |
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On June 15, 2013, the Company issued 88,235 common shares at a market price of $0.136 per share for consulting fees. |
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Since its inception (May 31, 2006), the Company has issued shares of its common stock as follows, retroactively adjusted to give effect to the 10 for 1 forward split: |
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Date | | Description | | | Shares | | | Share | | | Amount | |
6/6/06 | | Shares issued for cash | | | 20,000,000 | | $ | 0.001 | | $ | 20,000 | |
7/1/06 | | Shares issued for cash | | | 10,000,000 | | | 0.001 | | | 10,000 | |
12/11/06 | | Shares issued for cash | | | 17,375,000 | | | 0.004 | | | 69,500 | |
1/18/11 | | Shares issued for mining expenses | | | 250,000 | | | 0.1 | | | 25,000 | |
1/27/11 | | Shares issued for cash | | | 250,000 | | | 1 | | | 250,000 | |
3/7/11 | | Shares issued for mining expenses | | | 250,000 | | | 0.1 | | | 25,000 | |
4/27/11 | | Shares issued for director fees | | | 2,300,000 | | | 7.65 | | | 17,595,000 | |
4/29/11 | | Shares issued for settlement of mining expenses | | | 200,000 | | | 3.7 | | | 740,000 | |
5/10/11 | | Shares issued for cash | | | 190,476 | | | 5.25 | | | 1,000,000 | |
6/11/11 | | Shares issued for investor relation | | | 300,000 | | | 2.34 | | | 702,000 | |
11/22/11 | | Shares issued for debenture conversion | | | 2,000,000 | | | 0.2925 | | | 585,000 | |
4/18/12 | | Shares issued for debenture conversion | | | 610,795 | | | 0.352 | | | 215,000 | |
4/18/12 | | Shares issued for interest | | | 323,637 | | | 0.81 | | | 262,146 | |
4/27/12 | | Shares issued for director fees | | | 300,000 | | | 1.06 | | | 318,000 | |
5/1/12 | | Shares issued for consulting fees | | | 26,041 | | | 0.96 | | | 25,000 | |
5/15/12 | | Shares issued for consulting fees | | | 40,323 | | | 0.62 | | | 25,000 | |
7/10/12 | | Shares issued for debenture conversion | | | 1,504,415 | | | 0.1925 | | | 289,600 | |
8/21/12 | | Shares issued for debenture conversion | | | 815,047 | | | 0.1595 | | | 130,000 | |
9/17/12 | | Shares issued for debenture conversion | | | 1,581,028 | | | 0.1265 | | | 200,000 | |
10/25/12 | | Shares cancelled in exchange for preferred shares | | | (20,000,000 | ) | | 0.001 | | | (20,000 | ) |
11/1/12 | | Shares issued for mining expenses | | | 62,500 | | | 0.24 | | | 15,000 | |
11/13/12 | | Shares issued for investor relation | | | 41,667 | | | 0.24 | | | 10,000 | |
11/22/12 | | Shares issued for debenture conversion | | | 949,171 | | | 0.117 | | | 111,053 | |
12/1/12 | | Shares issued for mining expenses | | | 55,556 | | | 0.27 | | | 15,000 | |
12/13/12 | | Shares issued for investor relation | | | 38,462 | | | 0.26 | | | 10,000 | |
1/2/13 | | Shares issued for mining expenses | | | 55,556 | | | 0.27 | | | 15,000 | |
1/14/13 | | Shares issued for investor relation | | | 40,000 | | | 0.25 | | | 10,000 | |
1/25/13 | | Shares issued for warrants exercise | | | 1,028,113 | | | 0.25 | | | 257,028 | |
2/1/13 | | Shares issued for mining expenses | | | 78,947 | | | 0.19 | | | 15,000 | |
2/14/13 | | Shares issued for investor relation | | | 41,667 | | | 0.24 | | | 10,000 | |
2/29/13 | | Shares issued for debenture conversion | | | 2,000,000 | | | 0.077 | | | 154,000 | |
3/1/13 | | Shares issued for mining expenses | | | 48,387 | | | 0.31 | | | 15,000 | |
3/1/13 | | Shares issued for consulting fees | | | 25,806 | | | 0.31 | | | 8,000 | |
3/8/13 | | Shares issued for debenture conversion | | | 2,000,000 | | | 0.077 | | | 154,000 | |
3/14/13 | | Shares issued for investor relation | | | 47,619 | | | 0.21 | | | 10,000 | |
3/15/13 | | Shares issued for consulting fees | | | 38,876 | | | 0.2315 | | | 9,000 | |
3/15/13 | | Shares issued for consulting fees | | | 95,238 | | | 0.21 | | | 20,000 | |
3/15/13 | | Shares issued for debenture conversion | | | 2,000,000 | | | 0.095 | | | 190,000 | |
3/27/13 | | Shares issued for investor relation | | | 389,189 | | | 0.185 | | | 72,000 | |
4/1/13 | | Shares issued for mining expenses | | | 71,429 | | | 0.21 | | | 15,000 | |
4/1/13 | | Shares issued for consulting fees | | | 38,095 | | | 0.21 | | | 8,000 | |
4/15/13 | | Shares issued for investor relation | | | 50,000 | | | 0.2 | | | 10,000 | |
4/15/13 | | Shares issued for consulting fees | | | 100,000 | | | 0.2 | | | 20,000 | |
4/15/13 | | Shares issued for consulting fees | | | 57,007 | | | 0.2105 | | | 12,000 | |
4/23/13 | | Shares issued for debenture conversion | | | 2,000,000 | | | 0.0805 | | | 161,000 | |
4/29/13 | | Shares issued for director fees | | | 300,000 | | | 0.18 | | | 54,000 | |
5/1/13 | | Shares issued for consulting fees | | | 47,059 | | | 0.17 | | | 8,000 | |
5/13/13 | | Shares issued for debenture conversion | | | 2,000,000 | | | 0.075 | | | 150,000 | |
5/15/13 | | Shares issued for consulting fees | | | 113,636 | | | 0.176 | | | 20,000 | |
5/15/13 | | Shares issued for consulting fees | | | 70,588 | | | 0.17 | | | 12,000 | |
5/30/13 | | Shares issued for debenture conversion | | | 2,400,000 | | | 0.075 | | | 180,000 | |
6/1/13 | | Shares issued for consulting fees | | | 50,000 | | | 0.16 | | | 8,000 | |
6/14/13 | | Shares issued for consulting fees | | | 142,857 | | | 0.14 | | | 20,000 | |
6/15/13 | | Shares issued for consulting fees | | | 88,235 | | | 0.136 | | | 12,000 | |
7/1/13 | | Shares issued for consulting fees | | | 80,000 | | | 0.1 | | | 8,000 | |
7/1/13 | | Shares issued for consulting fees | | | 37,594 | | | 0.133 | | | 5,000 | |
7/3/13 | | Shares issued for note payable conversion | | | 954,461 | | | 0.0825 | | | 105,410 | |
7/9/13 | | Shares issued for debenture conversion | | | 2,000,000 | | | 0.045 | | | 138,462 | |
7/15/13 | | Shares issued for consulting fees | | | 181,818 | | | 0.11 | | | 20,000 | |
7/15/13 | | Shares issued for consulting fees | | | 54,545 | | | 0.11 | | | 6,000 | |
8/1/13 | | Shares issued for consulting fees | | | 48,485 | | | 0.165 | | | 8,000 | |
8/1/13 | | Shares issued for consulting fees | | | 46,997 | | | 0.1454 | | | 6,833 | |
8/13/13 | | Shares issued for promissory note conversion | | | 1,585,714 | | | 0.0735 | | | 163,693 | |
8/14/13 | | Shares issued for debenture conversion | | | 844,300 | | | 0.0525 | | | 68,194 | |
8/15/13 | | Shares issued for consulting fees | | | 28,736 | | | 0.2088 | | | 6,000 | |
9/1/13 | | Shares issued for consulting fees | | | 57,469 | | | 0.145 | | | 8,333 | |
9/1/13 | | Shares issued for consulting fees | | | 61,069 | | | 0.131 | | | 8,000 | |
9/6/13 | | Shares issued for warrants exercise | | | 2,375,052 | | | 0.19 | | | 446,789 | |
9/15/13 | | Shares issued for consulting fees | | | 48,702 | | | 0.1232 | | | 6,000 | |
9/19/13 | | Shares issued for debenture conversion | | | 1,400,000 | | | 0.045 | | | 96,923 | |
9/23/13 | | Shares issued for warrants exercise | | | 1,293,717 | | | 0.04 | | | 56,486 | |
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| | Cumulative Totals | | | 65,981,081 | | | | | $ | 25,414,450 | |
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Of these shares, 11,778,615 were issued to directors and officers of the Company. 18,516,037 were issued to independent investors. 872,375 were issued for mining expenses. 948,604 were issued for investor relation expenses. 200,000 were issued for debt settlement. 24,428,393 were issued for debenture and interest conversion. 1,028,113 were issued for exercise of warrants issued with convertible debentures. 1,585,714 were issued for promissory note and interest conversions. 3,668,769 were issued for exercise of warrants issued with convertible promissory notes. 954,461 were issued for note payable conversion. 2,000,000 were issued for a mining option settlement. As of September 30, 2013, the Company has issued 20,000,000 preferred shares to a director of the Company. The preferred shares have a par value of $0.001 per share and are convertible on a one for one basis into common shares subject to a one year hold period expiring on October 24, 2013. There are no other preferential rights attached to the preferred shares. The Company has no stock option plan, warrants or other dilutive securities, other than warrants issued to acquire 4,073,376 shares of the Company regarding convertible promissory notes (Note 7). |
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As per management agreements, the Company is obligated to issue 300,000 common shares to two directors by April 27, 2014 provided that they continue to serve as members to the Company’s board of directors. 300,000 common shares were issued to the two directors on April 27, 2011, April 27, 2012 and April 29, 2013 respectively. |