Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Sep. 30, 2013 | Nov. 14, 2013 | |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Trading Symbol | 'lexg | ' |
Entity Registrant Name | 'Lithium Exploration Group, Inc. | ' |
Entity Central Index Key | '0001375576 | ' |
Current Fiscal Year End Date | '--06-30 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 91,403,962 |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well Known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
CONSOLIDATED_INTERIM_FINANCIAL
CONSOLIDATED INTERIM FINANCIAL STATEMENTS (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
Current | ' | ' |
Cash and cash equivalents | $119,458 | $248,624 |
Prepaid expenses | 41,610 | 44,022 |
Total current assets | 161,068 | 292,646 |
Deposit on Blue Tap | 305,078 | 10,170 |
Deposit on Tero Oilfield Services Ltd. | 48,832 | 0 |
Total Assets | 514,978 | 302,816 |
Current | ' | ' |
Accounts payable and accrued liabilities | 3,744 | 2,928 |
Note payable convertible | 0 | 105,410 |
Derivative liability - convertible promissory notes | 476,585 | 513,375 |
Due to related party | 45,332 | 45,332 |
Convertible debentures | 759,499 | 1,063,077 |
Convertible promissory notes (net of discount of $2,067,989 and $1,475,247) | 129,582 | 37,610 |
Accrued interest - convertible promissory notes | 3,491 | 938 |
Total Current Liabilities | 1,418,233 | 1,768,670 |
STOCKHOLDERS' DEFICIT | ' | ' |
Preferred stock Authorized: 100,000,000 preferred shares, $0.001 par value Issued and outstanding: 20,000,000 preferred shares (June 30, 2013 - 20,000,000) | 20,000 | 20,000 |
Capital stock Authorized: 500,000,000 common shares, $0.001 par value Issued and outstanding: 65,981,081 common shares (June 30, 2013 - 54,882,422) | 65,983 | 54,885 |
Additional paid-in capital | 33,063,526 | 31,916,501 |
Deficit accumulated during the exploration stage | -34,052,764 | -33,457,240 |
Total Stockholders' Deficit | -903,255 | -1,465,854 |
Total Liabilities and Stockholders' Deficit | $514,978 | $302,816 |
CONSOLIDATED_INTERIM_FINANCIAL1
CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Parenthetical) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
Discount on convertible promissory notes | $2,067,989 | $1,475,247 |
Preferred Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Preferred Stock, Par Value Per Share | $0.00 | $0.00 |
Preferred Stock, Shares Issued | 20,000,000 | 20,000,000 |
Preferred Stock, Shares Outstanding | 20,000,000 | 20,000,000 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Par Value Per Share | $0.00 | $0.00 |
Common Stock, Shares, Issued | 65,981,081 | 54,882,422 |
Common Stock, Shares, Outstanding | 65,981,081 | 54,882,422 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 88 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Revenue | $0 | $0 | $0 |
Operating Expenses: | ' | ' | ' |
Advertising | 7,256 | 39,652 | 222,355 |
Consulting fees | 132,400 | 87,989 | 938,997 |
Director fees | 0 | 0 | 17,967,000 |
General and administrative | 11,673 | 17,730 | 150,298 |
Investor relations | 32,000 | 24,000 | 996,000 |
Management fees | 0 | 0 | 45,000 |
Mining expenses | 10,128 | 34,321 | 8,220,322 |
Professional fees | 47,401 | 93,031 | 818,039 |
Travel | 6,520 | 13,689 | 131,711 |
Wages | 48,443 | 75,355 | 556,395 |
Loss from operations | -295,821 | -385,767 | -30,046,117 |
Other income (expenses) | ' | ' | ' |
Interest expense | -258,218 | -1,764,785 | -7,098,185 |
Gain (Loss) on derivative liability | -41,485 | 676,095 | 3,091,538 |
Loss before income taxes | -595,524 | -1,474,457 | -34,052,764 |
Provision for Income Taxes | 0 | 0 | 0 |
Net loss for the period | ($595,524) | ($1,474,457) | ($34,052,764) |
Basic and Diluted Loss per Common Share | ($0.01) | ($0.03) | ' |
Weighted Average Number of Common Shares Outstanding | 60,190,254 | 56,309,009 | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | 88 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Cash Flows from Operating Activities | ' | ' | ' |
Net loss for the period | ($595,524) | ($1,474,457) | ($34,052,764) |
Items not affecting cash: | ' | ' | ' |
Common shares issued for mining expenses and related finder's fees | 0 | 0 | 880,000 |
Common shares issued for director fees | 0 | 0 | 17,967,000 |
Non-cash mining expenses | 0 | 0 | 304,060 |
Unrealized foreign exchange gain on note payable | 0 | 0 | -4,315 |
Common shares issued for investor relations | 0 | 0 | 834,000 |
Common shares issued for consulting fees | 82,167 | 0 | 289,167 |
Options issued for mining expenses | 0 | 0 | 4,940,000 |
Interest expense | 258,218 | 1,764,785 | 7,098,185 |
Gain (loss) on derivative liability | 41,485 | -676,095 | -3,091,538 |
Changes in operating assets and liabilities: | ' | ' | ' |
Prepaid expenses | 2,412 | -185,631 | -41,610 |
Accounts payable and accrued liabilities | 816 | 13,614 | 3,744 |
Net cash used in operations | -210,426 | -557,784 | -4,874,071 |
Cash Flows from Investing Activities | ' | ' | ' |
Investment | 0 | 0 | -197,393 |
Deposit | -343,740 | 0 | -353,910 |
Net cash used in investing activities | -343,740 | 0 | -551,303 |
Cash Flows from Financing Activities | ' | ' | ' |
Advance from related party | 0 | 0 | 47,537 |
Repayment to related party | 0 | 0 | -2,205 |
Issuance of common shares for cash | 0 | 0 | 1,349,500 |
Issuance of convertible debentures | 0 | 0 | 3,000,000 |
Issuance cost of convertible debentures | 0 | 0 | -25,000 |
Issuance of convertible promissory notes | 425,000 | 0 | 1,175,000 |
Net cash provided by financing activities | 425,000 | 0 | 5,544,832 |
Increase (decrease) in cash and cash equivalents | -129,166 | -557,784 | 119,458 |
Cash and cash equivalents - beginning of period | 248,624 | 1,239,603 | 0 |
Cash and cash equivalents - end of period | 119,458 | 681,819 | 119,458 |
Non-cash investing and financing activities: | ' | ' | ' |
Common stock issued for debt | 572,681 | 619,600 | 5,114,292 |
Cash paid for: | ' | ' | ' |
Interest | 0 | 0 | 0 |
Income taxes | $0 | $0 | $0 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (Deficit) (USD $) | Preferred Shares [Member] | Common Shares [Member] | Additional Paid-in Capital [Member] | Deficit Accumulated During the Exploration Stage [Member] | Total |
Beginning Balance at May. 31, 2006 | ' | ' | ' | ' | ' |
Common shares issued to a founder at $0.01 cash per share, June 6, 2006 | ' | $20,000 | ' | ' | $20,000 |
Common shares issued to a founder at $0.01 cash per share, June 6, 2006 (Shares) | ' | 20,000,000 | ' | ' | ' |
Net loss for the period | ' | ' | ' | -2,687 | -2,687 |
Ending Balance at Jun. 30, 2006 | ' | 20,000 | ' | -2,687 | 17,313 |
Ending Balance (Shares) at Jun. 30, 2006 | ' | 20,000,000 | ' | ' | ' |
Common shares issued to founders at $0.01 per share, July 1, 2006 | ' | 10,000 | ' | ' | 10,000 |
Common shares issued to founders at $0.01 per share, July 1, 2006 (Shares) | ' | 10,000,000 | ' | ' | ' |
Common shares issued for cash at $0.04 per share, December 11, 2006 | ' | 17,375 | 52,125 | ' | 69,500 |
Common shares issued for cash at $0.04 per share, December 11, 2006 (Shares) | ' | 17,375,000 | ' | ' | ' |
Net loss for the period | ' | ' | ' | -59,320 | -59,320 |
Ending Balance at Jun. 30, 2007 | ' | 47,375 | 52,125 | -62,007 | 37,493 |
Ending Balance (Shares) at Jun. 30, 2007 | ' | 47,375,000 | ' | ' | ' |
Net loss for the period | ' | ' | ' | -22,888 | -22,888 |
Ending Balance at Jun. 30, 2008 | ' | 47,375 | 52,125 | -84,895 | 14,605 |
Ending Balance (Shares) at Jun. 30, 2008 | ' | 47,375,000 | ' | ' | ' |
Net loss for the period | ' | ' | ' | -31,624 | -31,624 |
Ending Balance at Jun. 30, 2009 | ' | 47,375 | 52,125 | -116,519 | -17,019 |
Ending Balance (Shares) at Jun. 30, 2009 | ' | 47,375,000 | ' | ' | ' |
Net loss for the period | ' | ' | ' | -20,639 | -20,639 |
Ending Balance at Jun. 30, 2010 | ' | 47,375 | 52,125 | -137,158 | -37,658 |
Beginning Balance (Shares) at Jun. 30, 2010 | ' | 47,375,000 | ' | ' | ' |
Common shares issued for cash at $1.00 per share, January 27, 2011 | ' | 250 | 249,750 | ' | 250,000 |
Common shares issued for cash at $1.00 per share, January 27, 2011 (Shares) | ' | 250,000 | ' | ' | ' |
Common shares issued for cash at $5.25 per share, April 28, 2011 | ' | 191 | 999,809 | ' | 1,000,000 |
Common shares issued for cash at $5.25 per share, April 28, 2011 (Shares) | ' | 190,476 | ' | ' | ' |
Common shares issued for mining expenses and related finder's fees | ' | 500 | 49,500 | ' | 50,000 |
Common shares issued for mining expenses and related finder's fees (Shares) | ' | 500,000 | ' | ' | ' |
Common shares issued for settlement of mining expenses | ' | 200 | 739,800 | ' | 740,000 |
Common shares issued for settlement of mining expenses (Shares) | ' | 200,000 | ' | ' | ' |
Common shares issued for director fees | ' | 2,300 | 17,592,700 | ' | 17,595,000 |
Common shares issued for director fees (Shares) | ' | 2,300,000 | ' | ' | ' |
Common shares issued for investor relations | ' | 300 | 701,700 | ' | 702,000 |
Common shares issued for investor relations (Shares) | ' | 300,000 | ' | ' | ' |
Options issued for mining expenses | ' | ' | 4,940,000 | ' | 4,940,000 |
Net loss for the period | ' | ' | ' | -25,891,334 | -25,891,334 |
Ending Balance at Jun. 30, 2011 | ' | 51,116 | 25,325,384 | -26,028,492 | -651,992 |
Ending Balance (Shares) at Jun. 30, 2011 | ' | 51,115,476 | ' | ' | ' |
Common shares issued for consulting fees | ' | 366 | 367,634 | ' | 368,000 |
Common shares issued for consulting fees (Shares) | ' | 366,364 | ' | ' | ' |
Common shares issued for debt conversion | ' | 2,935 | 1,713,756 | ' | 1,716,691 |
Common shares issued for debt conversion (Shares) | ' | 2,934,432 | ' | ' | ' |
Net loss for the period | ' | ' | ' | -2,390,439 | -2,390,439 |
Ending Balance at Jun. 30, 2012 | ' | 54,417 | 27,406,774 | -28,418,931 | -957,740 |
Ending Balance (Shares) at Jun. 30, 2012 | ' | 54,416,272 | ' | ' | ' |
Common shares issued for consulting fees | ' | 868 | 156,132 | ' | 157,000 |
Common shares issued for consulting fees (Shares) | ' | 867,397 | ' | ' | ' |
Common shares issued for director fees | ' | 300 | 53,700 | ' | 54,000 |
Common shares issued for director fees (Shares) | ' | 300,000 | ' | ' | ' |
Common shares issued for investor relations | ' | 649 | 131,351 | ' | 132,000 |
Common shares issued for investor relations (Shares) | ' | 648,604 | ' | ' | ' |
Common shares issued for mining expenses | ' | 373 | 89,627 | ' | 90,000 |
Common shares issued for mining expenses (Shares) | ' | 372,375 | ' | ' | ' |
Common shares issued for debt conversion | ' | 17,250 | 2,807,670 | ' | 2,824,920 |
Common shares issued for debt conversion (Shares) | ' | 17,249,661 | ' | ' | ' |
Common shares issued for exercise of warrants | ' | 1,028 | 1,271,247 | ' | 1,272,275 |
Common shares issued for exercise of warrants (Shares) | ' | 1,028,113 | ' | ' | ' |
Common shares exchanged for preferred shares | 20,000 | -20,000 | ' | ' | ' |
Common shares exchanged for preferred shares (Shares) | 20,000,000 | -20,000,000 | ' | ' | ' |
Net loss for the period | ' | ' | ' | -5,038,309 | -5,038,309 |
Ending Balance at Jun. 30, 2013 | 20,000 | 54,885 | 31,916,501 | -33,457,240 | -1,465,854 |
Ending Balance (Shares) at Jun. 30, 2013 | 20,000,000 | 54,882,422 | ' | ' | ' |
Common shares issued for consulting fees | ' | 645 | 81,522 | ' | 82,167 |
Common shares issued for consulting fees (Shares) | ' | 645,415 | ' | ' | ' |
Common shares issued for investor relations | ' | ' | ' | ' | 0 |
Options issued for mining expenses | ' | ' | ' | ' | 0 |
Common shares issued for debt conversion | ' | 6,784 | 565,897 | ' | 572,681 |
Common shares issued for debt conversion (Shares) | ' | 6,784,475 | ' | ' | ' |
Common shares issued for exercise of warrants | ' | 3,669 | 499,606 | ' | 503,275 |
Common shares issued for exercise of warrants (Shares) | ' | 3,668,769 | ' | ' | ' |
Net loss for the period | ' | ' | ' | -595,524 | -595,524 |
Ending Balance at Sep. 30, 2013 | $20,000 | $65,983 | $33,063,526 | ($34,052,764) | ($903,255) |
Ending Balance (Shares) at Sep. 30, 2013 | 20,000,000 | 65,981,081 | ' | ' | ' |
Organization
Organization | 3 Months Ended |
Sep. 30, 2013 | |
Organization [Text Block] | ' |
1. Organization | |
Lithium Exploration Group, Inc. (formerly Mariposa Resources, Ltd.) (the “Company”) was incorporated on May 31, 2006 in the State of Nevada, U.S.A. It is based in Scottsdale, Arizona, USA. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America, and the Company’s fiscal year end is June 30. | |
Effective November 30, 2010, the Company changed its name to “Lithium Exploration Group, Inc.,” by way of a merger with its wholly-owned subsidiary Lithium Exploration Group, Inc., which was formed solely for the change of name. | |
A wholly owned subsidiary, 1617437 Alberta Ltd. was incorporated in the province of Alberta, Canada on July 8, 2011. Effective October 2, 2013, the subsidiary changed its name to “Alta Disposal Ltd.” | |
The Company is an exploration stage company that engages principally in the acquisition, exploration, and development of resource properties. Prior to June 25, 2009, the Company had the right to conduct exploration work on 20 mineral mining claims in Esmeralda County, Nevada, U.S.A. On July 31, 2009, the Company acquired an option to enter into a joint venture for the management and ownership of the Jack Creek Project, a mining project located in Elko County, Nevada. On September 25, 2009, the joint venture was terminated and the Company entered into an agreement with Beeston Enterprises Ltd., under which the Company was granted an option to acquire an undivided 50% interest in eight mineral claims located in the Clinton Mining District of British Columbia, Canada. On December 16, 2010, the Company entered into an Assignment Agreement to acquire an undivided 100% right, title and interest in and to certain mineral permits located in the Province of Alberta, Canada (see Note 5). On November 8, 2011, the Company entered into a letter agreement with Glottech-USA. Pursuant to the terms of the agreement, the Company was granted an exclusive license to use and distribute the technology within the Swan Hills region of Alberta as well as a non-exclusive right to distribute the technology within Canada. | |
Exploration Stage Company | |
The Company is considered to be in the exploration stage as defined in FASC 915-10-05 “ Development Stage Entities, ” and interpreted by the Securities and Exchange Commission for mining companies in Industry Guide 7. The Company is devoting substantially all of its efforts to development of business plans and the acquisition of mineral properties. |
Significant_Accounting_Policie
Significant Accounting Policies | 3 Months Ended |
Sep. 30, 2013 | |
Significant Accounting Policies [Text Block] | ' |
2. Significant Accounting Policies | |
Basis of presentation and consolidation | |
The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. | |
The consolidated financial statements include the accounts of the Company and its subsidiary Alta Disposal Ltd. Intercompany accounts and transactions have been eliminated in consolidation. | |
Use of Estimates | |
The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. Significant estimates that may materially change in the near term include the valuation of derivative liabilities and the underlying warrants, as well as fair value of investments. | |
Cash and Cash Equivalents | |
Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with original maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $119,458 and $248,624 in cash and cash equivalents at September 30, 2013 and June 30, 2013, respectively. | |
Concentration of Risk | |
The Company maintains cash balances at a financial institution which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits for banks located in the US. As of September 30, 2013 and June 30, 2013, the Company had $nil and $25,935, respectively, in deposits in excess of federally insured limits in its US bank. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk of loss on its cash in bank accounts. | |
Prepaid expenses | |
Prepaid expenses mainly consist of legal retainers, deposit for mineral property exploration, and shares issued for investor relations. Legal retainers and deposit for mineral property exploration will be expensed in the period when services are completed. Shares issued for investor relations are amortized as investor relation expenses over service term. | |
Start-Up Costs | |
In accordance with FASC 720-15-20 “ Start-Up Costs,” the Company expenses all costs incurred in connection with the start-up and organization of the Company. | |
Mineral Acquisition and Exploration Costs | |
The Company has been in the exploration stage since its formation on May 31, 2006 and has not yet realized any revenue from its planned operations. It is primarily engaged in the acquisition, exploration, and development of mining properties. Mineral property acquisition and exploration costs are expensed as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs incurred to develop such property are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserves. | |
Concentrations of Credit Risk | |
The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. | |
Net Income or (Loss) per Share of Common Stock | |
The Company has adopted FASC Topic No. 260, “ Earnings Per Share ,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. | |
Potentially dilutive securities are not presented in the computation of EPS since their effects are anti-dilutive. | |
Foreign Currency Translations | |
The Company’s functional and reporting currency is the US dollar. All transactions initiated in other currencies are translated into US dollars using the exchange rate prevailing on the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated into the US dollar at the rate of exchange in effect at the balance sheet date. Unrealized exchange gains and losses arising from such transactions are deferred until realization and are included as a separate component of stockholders’ equity (deficit) as a component of comprehensive income or loss. Upon realization, the amount deferred is recognized in income in the period when it is realized. | |
No significant realized exchange gain or losses were recorded from inception (May 31, 2006) to September 30, 2013. | |
Comprehensive Income (Loss) | |
FASC Topic No. 220, “ Comprehensive Income,” establishes standards for reporting and display of comprehensive income and its components in a full set of general-purpose financial statements. From inception (May 31, 2006) to September 30 2013, the Company had no items of other comprehensive income. Therefore, net loss equals comprehensive loss from inception (May 31, 2006) to September 30, 2013. | |
Risks and Uncertainties | |
The Company operates in the resource exploration industry that is subject to significant risks and uncertainties, including financial, operational, technological, and other risks associated with operating a resource exploration business, including the potential risk of business failure. | |
Environmental Expenditures | |
The operations of the Company have been, and may in the future be, affected from time to time in varying degree by changes in environmental regulations, including those for future reclamation and site restoration costs. Both the likelihood of new regulations and their overall effect upon the Company vary greatly and are not predictable. The Company's policy is to meet or, if possible, surpass standards set by relevant legislation by application of technically proven and economically feasible measures. | |
Environmental expenditures that relate to ongoing environmental and reclamation programs are charged against earnings as incurred or capitalized and amortized depending on their future economic benefits. All of these types of expenditures incurred since inception have been charged against earnings due to the uncertainty of their future recoverability. Estimated future reclamation and site restoration costs, when the ultimate liability is reasonably determinable, are charged against earnings over the estimated remaining life of the related business operation, net of expected recoveries. | |
Warrants | |
We value our warrants with provisions resulting in derivative liabilities at fair value using the lattice model according to ASC-815-10-55. We revalue our warrants at the end of every period at fair value and record the difference in other income (expense) in the consolidated statement of operations. | |
Convertible Debentures and Convertible Promissory Notes | |
We value our convertible debentures and convertible promissory notes with provisions resulting in beneficial conversion features from the embedded derivative at fair value according to ASC-840-10-25-14, rather than have its conversion feature bifurcated and reported separately due to ASC-815-15-25-1b. Because the value of the derivative related to the warrant exceeds the proceeds of the loan, the Company allocated 100% of the proceeds to the warrant derivative and took a day one loss for the difference between the proceeds and the fair value of the warrants, resulting in a debt discount on the full fair value of the debenture because no proceeds were available to be allocated to the debt or its beneficial conversion feature. That debt discount is accreted to interest expense over the stated life of the note using the interest method in accordance with ASC 470-20-35-7a and 835-30-35-2. Unaccreted debt discount on the date of conversion is accreted to interest expense on that date. | |
Fair Value of Financial Instruments | |
ASC 820, “Fair Value Measurements and Disclosures” requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: | |
Level 1 - Quoted prices in active markets for identical assets or liabilities; | |
Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and | |
Level 3 - Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. | |
The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, prepaid expenses, deposit, accounts payable and accrued liabilities, and due to a related party approximate their fair values because of the short maturity of these instruments. | |
The Company’s Level 3 financial liabilities consist of the derivative liability of the Company’s secured convertible promissory notes and debentures issued to investors, and the derivative warrants issued in connection with these convertible promissory notes and debentures. There is no current market for these securities such that the determination of fair value requires significant judgment or estimation. The Company used a lattice model which incorporates transaction details such as Company stock price, contractual terms, maturity, risk free rates, as well as assumptions about future financings, volatility, and holder behavior as of the date of issuance and each balance sheet date. | |
Recent Accounting Pronouncements | |
Recent accounting pronouncements that are listed below did not, and are not currently expected to, have a material effect on the Company’s financial statements, but will be implemented in the Company’s future financial reporting when applicable. | |
FASB Statements: | |
In June 2009 the FASB established the Accounting Standards Codification ("Codification" or "ASC") as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). Rules and interpretive releases of the Securities and Exchange Commission ("SEC") issued under authority of federal securities laws are also sources of GAAP for SEC registrants. Existing GAAP was not intended to be changed as a result of the Codification, and accordingly the change did not impact our financial statements. The ASC does change the way the guidance is organized and presented. | |
Accounting Standards Updates ("ASUs") through ASU No. 2013-11 which contain technical corrections to existing guidance or affect guidance to specialized industries or entities were recently issued. These updates have no current applicability to the Company or their effect on the financial statements would not have been significant. |
Capital_Stock
Capital Stock | 3 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Capital Stock [Text Block] | ' | ||||||||||||
3. Capital Stock | |||||||||||||
Authorized Stock | |||||||||||||
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. | |||||||||||||
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. | |||||||||||||
Share Issuances | |||||||||||||
For the period ended September 30, 2013: | |||||||||||||
On July 1, 2013, the Company issued 80,000 common shares at a market price of $0.10 per share for consulting fees. | |||||||||||||
On July 1, 2013, the Company issued 37,594 common shares at the weighted average price of $0.1330 per share for consulting fees. | |||||||||||||
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). | |||||||||||||
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). | |||||||||||||
On July 15, 2013, the Company issued 181,818 common shares at a market price of $0.11 per share for consulting fees. | |||||||||||||
On July 15, 2013, the Company issued 54,545 common shares at a market price of $0.11 per share for consulting fees. | |||||||||||||
On August 1, 2013, the Company issued 48,485 common shares at a market price of $0.1650 per share for consulting fees. | |||||||||||||
On August 1, 2013, the Company issued 46,997 common shares at a weighted average price of $0.1454 per share for consulting fees. | |||||||||||||
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). | |||||||||||||
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). | |||||||||||||
On August 15, 2013, the Company issued 28,736 common shares at a market price of $0.2088 per share for consulting fees. | |||||||||||||
On September 1, 2013, the Company issued 57,469 common shares at a weighted average price of $0.1450 per share for consulting fees. | |||||||||||||
On September 1, 2013, the Company issued 61,069 common shares at a market price of $0.1310 per share for consulting fees. | |||||||||||||
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). | |||||||||||||
On September 15, 2013, the Company issued 48,702 common shares at a market price of $0.1232 per share for consulting fees. | |||||||||||||
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). | |||||||||||||
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). | |||||||||||||
For the year ended June 30, 2013: | |||||||||||||
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). | |||||||||||||
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). | |||||||||||||
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). | |||||||||||||
On October 25, 2012, the Company cancelled 20,000,000 common shares and in exchange, 20,000,000 preferred shares were issued. | |||||||||||||
On November 1, 2012, the Company issued 62,500 common shares at a market price of $0.24 per share for mining expenses. | |||||||||||||
On November 13, 2012, the Company issued 41,667 common shares at a market price of $0.24 per share for investor relation expenses. | |||||||||||||
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). | |||||||||||||
On December 1, 2012, the Company issued 55,556 common shares at a market price of $0.27 per share for mining expenses. | |||||||||||||
On December 13, 2012, the Company issued 38,462 common shares at a market price of $0.26 per share for investor relation expenses. | |||||||||||||
On January 2, 2013, the Company issued 55,556 common shares at a market price of $0.27 per share for mining expenses. | |||||||||||||
On January 14, 2013, the Company issued 40,000 common shares at a market price of $0.25 per share for investor relation expenses. | |||||||||||||
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). | |||||||||||||
On February 1, 2013, the Company issued 78,947 common shares at a market price of $0.19 per share for mining expenses. | |||||||||||||
On February 14, 2013, the Company issued 41,667 common shares at a market price of $0.24 per share for investor relation expenses. | |||||||||||||
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). | |||||||||||||
On March 1, 2013, the Company issued 48,387 common shares at a market price of $0.31 per share for mining expenses. | |||||||||||||
On March 1, 2013, the Company issued 25,806 common shares at a market price of $0.31 per share for consulting fees. | |||||||||||||
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). | |||||||||||||
On March 14, 2013, the Company issued 47,619 common shares at a market price of $0.21 per share for investor relation expenses. | |||||||||||||
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). | |||||||||||||
On March 15, 2013, the Company issued 38,876 common shares at a market price of $0.2315 per share for consulting fees. | |||||||||||||
On March 15, 2013, the Company issued 95,238 common shares at a market price of $0.21 per share for consulting fees. | |||||||||||||
On March 27, 2013, the Company issued 389,189 common shares at a market price of $0.185 per share for investor relation expenses. | |||||||||||||
On April 1, 2013, the Company issued 71,429 common shares at a market price of $0.21 per share for mining expenses. | |||||||||||||
On April 1, 2013, the Company issued 38,095 common shares at a market price of $0.21 per share for consulting fees. | |||||||||||||
On April 15, 2013, the Company issued 100,000 common shares at a market price of $0.20 per share for consulting fees. | |||||||||||||
On April 15, 2013, the Company issued 57,007 common shares at a market price of $0.2105 per share for consulting fees. | |||||||||||||
On April 15, 2013, the Company issued 50,000 common shares at a market price of $0.20 per share for investor relation expenses. | |||||||||||||
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). | |||||||||||||
On April 29, 2013, the Company issued 300,000 common shares at a market price of $0.18 per share for director fees. | |||||||||||||
On May 1, 2013, the Company issued 47,059 common shares at a market price of $0.17 per share for consulting fees. | |||||||||||||
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). | |||||||||||||
On May 15, 2013, the Company issued 113,636 common shares at a market price of $0.1760 per share for consulting fees. | |||||||||||||
On May 15, 2013, the Company issued 70,588 common shares at a market price of $0.17 per share for consulting fees. | |||||||||||||
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). | |||||||||||||
On June 1, 2013, the Company issued 50,000 common shares at a market price of $0.16 per share for consulting fees. | |||||||||||||
On June 14, 2013, the Company issued 142,857 common shares at a market price of $0.14 per share for consulting fees. | |||||||||||||
On June 15, 2013, the Company issued 88,235 common shares at a market price of $0.136 per share for consulting fees. | |||||||||||||
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: | |||||||||||||
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 | |||||||||
Cumulative Totals | 65,981,081 | $ | 25,414,450 | ||||||||||
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). | |||||||||||||
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. |
Provision_For_Income_Taxes
Provision For Income Taxes | 3 Months Ended |
Sep. 30, 2013 | |
Provision For Income Taxes [Text Block] | ' |
4. Provision for Income Taxes | |
The Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income, regardless of when reported for tax purposes. Deferred taxes are provided in the financial statements under FASC 740-20-20 to give effect to the resulting temporary differences which may arise from differences in the bases of fixed assets, depreciation methods, allowances, and start-up costs based on the income taxes expected to be payable in future years. | |
Exploration stage deferred tax assets arising as a result of net operating loss carryforwards have been offset completely by a valuation allowance due to the uncertainty of their utilization in future periods. Operating loss carryforwards generated during the period from May 31, 2006 (date of inception) through September 30, 2013 of $10,188,080 will begin to expire in 2026. Accordingly, deferred tax assets were offset by the valuation allowance that increased by approximately $74,779 and $358,641 during the periods ended September 30, 2013 and 2012, respectively. | |
The Company follows the provisions of uncertain tax positions as addressed in FASC 740-10-65-1. The Company recognized approximately no increase in the liability for unrecognized tax benefits. | |
The Company has no tax position at September 30, 2013 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. No such interest or penalties were recognized during the periods presented. The Company had no accruals for interest and penalties at September 30, 2013. The Company’s utilization of any net operating loss carry forward may be unlikely as a result of its intended exploration stage activities. The tax years for June 30, 2013, June 30, 2012 and June 30, 2011 are still open for examination by the Internal Revenue Service (IRS). |
Mineral_Property_Costs
Mineral Property Costs | 3 Months Ended | ||
Sep. 30, 2013 | |||
Mineral Property Costs [Text Block] | ' | ||
5. Mineral Property Costs | |||
Mineral Claims, Clinton Mining District | |||
On September 25, 2009, and amended June 24, 2010, the Company entered into an Option Agreement under which the Company was granted an option to acquire an undivided 50% interest in eight mineral claims located in the Clinton Mining District, Province of British Columbia, Canada (the “Claims”), which Claims total in excess of 3,900 hectares, in consideration of the issuance of 1,500,000 common shares of the Company on or before December 31, 2010. The Claims were subject to a two percent net smelter royalty which can be paid out for the sum of $1,000,000 (CAD). The Company can earn an undivided 50% interest in the Claims by carrying out a $100,000 (CAD) exploration and development program on the Claims on or before December 31, 2010, plus an additional $200,000 (CAD) exploration and development program on the Claims on or before September 25, 2011. | |||
In the event that the Company acquires an interest in the Claims, the Company and the Optionor have further agreed, at the request of either party, to negotiate a joint venture agreement for further exploration and development of the Claims. | |||
On April 29, 2011, the Company entered into a mutual release agreement. The Company is released from any obligations related to the Claims for considerations of a cash payment of CDN $54,624 (US$57,901) and the issuance of 200,000 common shares of the Company. The shares have been valued at a market price of $3.70 for a total of $740,000. The total amount of $797,901 has been recorded as mining expenses. | |||
Mineral Permit | |||
On December 16, 2010, the Company entered into an Assignment Agreement to acquire the following: | |||
a. ) | An undivided 100% right, title and interest in and to certain mineral permits located in the Province of Alberta, Canada. | ||
b. ) | All of the assignor’s right, title and interest in and to the Option Agreement. | ||
In consideration for the Assignment, the Company agreed to pay US$90,000 by way of cash or stock of equal value (consisting of amounts previously paid by the Assignor pursuant to the Option Agreement). The full $90,000 (consisting of option payments ‘i’ and ‘vi’ below) was expensed and included in the December 31, 2011 accounts payable balance. The Option shall be in good standing and exercisable by the Company by paying the following amounts on or before the dates specified in the following schedule: | |||
i.) | CDN $40,000 (paid) upon execution of the agreement; | ||
ii.) | CDN $60,000 (paid) on or before January 1, 2012; | ||
iii.) | CDN $100,000 on or before January 1, 2013 (amended); | ||
iv.) | CDN $300,000 on or before January 1, 2014; and | ||
v.) | Paying all such property payments as may be required to maintain the mineral permits in good standing. | ||
vi.) | The Optionee shall provide a refundable amount of CDN$50,000 (paid) to the Optionor by November 2, 2010, which shall be applied by the Optionor towards work assessment expenses acceptable to the Government of Alberta, with any unused portion to be applied against payments required to maintain the permits underlying the property in good standing. | ||
On December 31, 2012, the Company entered into an agreement to amend the original payment requirement of CDN$100,000 due on January 1, 2013 to the following payments: CDN $20,000 (paid) cash payment due on January 1, 2013 and CDN $80,000 by a 15% one year promissory note starting January 1, 2013. The promissory note is interest free until March 31, 2013. After then, interest will accrue on the principal balance then in arrears at the rate of 15% per annum. No payments shall be payable until December 31, 2013. At any time, the Optionor may elect to convert the remaining balance of CDN $80,000 plus accrued interest into common shares of the Company at 75% of the closing market price of the Company’s common shares on the election day. The full $100,000 (consisting of cash payment of $20,000 and note payable of $80,000) was expensed. The note is subject to be measured at its fair value in accordance with ASC 480-10-25-14. The fair value at issuance was $106,667. An additional $26,667 was charged to mining expense. An interest expense of CDN$3,058 (US$2,899) was accrued as at June 30, 2013. On July 3, 2013, the Optionor elected to convert the promissory note of CDN $80,000 (US $75,844) plus accrued interest of CDN $3,058 (US $2,899) for the total amount of CDN $83,058 (US $78,743) into 954,461 common shares of the Company at a price of US $0.0825 per share. | |||
Glottech Technology | |||
On March 17, 2011 and subsequently amended on November 18, 2011, the Company entered into a letter agreement to acquire one initial unit of proprietary and patented mechanical ultrasound technology for use in water purification, inclusive of its process of separating from water, as the primary fluid stock, the salt and other minerals and by –products contained therein, with Glottech – USA. | |||
To acquire the unit, the Company must make the following payments: | |||
a) | US$25,000 upon execution of the agreement (paid); | ||
b) | US$75,000 within 180 days of execution of the agreement (paid); | ||
c) | US$700,000 within 10 days of receipt of invoice from Glottech –USA LLC if the payment in b) is made (paid). | ||
d) | The Company also granted an option to acquire 2,000,000 shares for $1.00 to Glottech – USA upon receipt of the operational ultrasonic generator that they are building for Lithium Exploration Group. The 2,000,000 shares are to be paid from outstanding shares owned by Alex Walsh, company CEO. During the year ended June 30, 2011, the option resulting in additional mining expenses of $4,940,000 was valued using the fair market value of the shares to be issued. On October 1, 2012, Alex Walsh and GD International entered into an agreement to transfer 2,000,000 common shares owned by Alex Walsh to GD International. The shares were received by GD International on October 29, 2012. | ||
Commencing as of the end of an initial sixty day testing and training period following satisfactory delivery and physical setup of the technology, and continuing thereafter for as long as the technology remains in the possession of the Company, the Company shall pay continuing monthly royalties in an amount equal to $2.00 per physical ton of water processed pursuant to the usage of the technology. | |||
On June 12, 2012, the Company filed a complaint with the court of common pleas of Chester County, Pennsylvania against Glottech – USA, LLC, Eldredge, Inc., and the Eldredge Companies, Inc. The complaint seeks an order of the court granting possession of the unit, in its current state, to the Company. | |||
Effective August 14, 2012, the Company entered into an option agreement with GD Glottech-International, Limited (“GD International”) to protect our license and distribution rights in the event that GD-Glottech-USA, LLC (“GD USA”) is unable to perform and honor the obligations contingent to a letter agreement dated November 8, 2011. | |||
Pursuant to the terms of the option agreement, we are required to provide an initial deposit of $150,000 to be held in escrow for the option to obtain a license on the patent rights, as set forth in the option agreement. A further $15,000 was required for exercising the option agreement and it will be credited to future fees when patents rights are exercised. We exerised this option agreement on September 1, 2012 and released the funds to GD International. | |||
On October 1, 2012, the Company entered into a sales agency agreement with GD International. The agreement shall replace all agreements entered previously. Pursuant to the agreement, the Company is appointed as GD International’s sales agent for the technology within the territory. As a consideration, 2,000,000 common shares of the Company shall be issued to GD International (issued: see d) above). GD International retains all right, title and interest in the technology. The term of this agreement will be an initial period of five years. The term shall be automatically renewable thereafter for successive five year periods provided that the Company has sold not less than 25 or more technology units during each applicable five year period. | |||
On May 2, 2013, the Company entered into an agreement to retain the future use of the unit. Pursuant to the agreement, the Company must make the following payments: | |||
a) | US$20,000 within three days of execution of the agreement (paid); | ||
b) | US$30,000 within three days upon the testing of the unit has been successfully completed. |
Convertible_Debenture
Convertible Debenture | 3 Months Ended |
Sep. 30, 2013 | |
Convertible Debenture [Text Block] | ' |
6. Convertible Debenture | |
On May 15, 2012, the Company entered into a securities purchase agreement with an investor. Pursuant to the terms of the agreement, the investor acquired convertible debentures with an aggregate face value of $1,680,000, at an original issuance discount of $180,000 ; resulting in $1,500,000 net proceeds to the Company. The debenture is due on May 15, 2013 and carries no interest, with an effective interest rate of 561.35% . The debenture is convertible at the lower of $0.45 and 65% of the lowest reported sales price of the common stock for the 20 days immediately prior to conversion date subject to various prescribed conditions. The debenture is also subject to be measured at its fair value in accordance with ASC 480-10-25-14, rather than have its conversion feature bifurcated and reported separately. The fair value at issuance was $2,584,615. On February 19, 2013, $154,000 in face value of the debenture was converted to 2,000,000 common shares at a price of $0.077 per share in accordance with the terms of the agreement. On March 8, 2013, $154,000 in face value of the debenture was converted to 2,000,000 common shares at a price of $0.077 per share in accordance with the terms of the agreement. On March 15, 2013, $190,000 in face value of the debenture was converted to 2,000,000 common shares at a price of $0.095 per share in accordance with the terms of the agreement. On April 23, 2013, $161,000 in face value of the debenture was converted to 2,000,000 common shares at a price of $0.0805 per share in accordance with the terms of the agreement. On May 13, 2013, $150,000 in face value of the debenture was converted to 2,000,000 common shares at a price of $0.075 per share in accordance with the terms of the agreement. On May 30, 2013, $180,000 in face value of the debenture was converted to 2,400,000 common shares at a price of $0.075 per share in accordance with the terms of the agreement. On July 9, 2013, $90,000 in face value of the debenture was converted to 2,000,000 common shares at a price of $0.045 per share in accordance with the terms of the agreement. On August 14, 2013, $44,326 in face value of the debenture was converted to 844,300 common shares at a price of $0.525 per share in accordance with the terms of the agreement. On September 19, 2013, $63,000 in face value of the debenture was converted to 1,400,000 common shares at a price of $0.045 per share in accordance with the terms of the agreement. The debenture was extended on July 23, 2013 for 12 months and will expire on May 15, 2014. As of September 30, 2013, the debenture has a remaining balance of $759,499 in fair value ($493,674 in face value). | |
On September 17, 2012, the Company entered into an amended agreement to revise the conversion price of the debenture entered into on May 15, 2012. The debenture is now convertible at the lower of $0.20 and 65% of the lowest reported sales price of the common stock for the 20 days immediately prior to conversion date subject to various prescribed conditions. |
Convertible_Promissory_Notes
Convertible Promissory Notes | 3 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Convertible Promissory Notes [Text Block] | ' | |||||||||
7. Convertible Promissory Notes | ||||||||||
On February 13, 2013, the Company entered into a securities purchase agreement with one investor. Pursuant to the terms of the agreement, the investor acquired a convertible promissory note with an aggregate face value of $1,100,000, at an issuance discount of $100,000 ; resulting in $1,000,000 net proceeds to the Company. On February 13, 2013, $100,000 net proceeds were received with an issuance discount of $10,000 for an aggregate face value of $110,000. On April 24, 2013, $50,000 net proceeds were received with an issuance discount of $5,000 for an aggregate face value of $55,000. On June 4, 2013, $50,000 net proceeds were received with an issuance discount of $5,000 for an aggregate face value of $55,000. On June 27, 2013, $50,000 net proceeds were received with an issuance discount of $5,000 for an aggregate face value of $55,000. On August 14, 2013, $75,000 net proceeds were received with an issuance discount of $7,500 for an aggregate face value of $82,500. On August 13, 2013, $110,000 in face value of the note was converted to 1,585,714 common shares at a price of $0.0735 per share in accordance with the term of the agreement. As of September 30, 2013, total net proceeds of $225,000 were received with an issuance discount of $22,500 for an aggregate face value of $247,500. There is no guarantee the investor will make additional payments. The note of $247,500 is due on February 13, 2016 and carries a one time interest rate of 5% over the term of note, with an effective interest rate of 171.61% . The note is convertible at the lower of $0.25 and 70% of the lowest reported sales price of the common stock for the 20 days immediately prior to conversion date subject to various prescribed conditions. The convertible note has a fixed stated principal amount but is not convertible into a fixed number of shares, so the conversion feature is considered an imbedded derivative. However, the convertible note as a standalone instrument is to be measured at its fair value in accordance with ASC 480-10-25-14, rather than have its conversion feature bifurcated and reported separately. The fair value at issuance was $353,571. During the period ended September 30, 2013, an interest expense of $990 was accrued. | ||||||||||
Effective March 1, 2013, the Company entered into another securities purchase agreement with another investor. Pursuant to the terms of the agreement, the investor acquired a convertible promissory note with an aggregate face value of $672,000, at an issuance discount of $72,000 ; resulting in $600,000 net proceeds to the Company. | ||||||||||
On March 1, 2013, $150,000 net proceeds were received with an issuance discount of $18,000 for an aggregate face value of $168,000. The note of $168,000 is due on March 1, 2014 and carries no interest, with an effective interest rate of 561.36% . The note is convertible at the lower of 50% of the lowest reported sale price of the common stock for the 20 trading days immediately prior to (i) the closing date on March 1, 2013 or (ii) 50% of the lowest reported sale price for the 20 days prior the conversion date of the Note. The convertible note has a fixed stated principal amount but is not convertible into a fixed number of shares, so the conversion feature is considered an imbedded derivative. However, the convertible note as a standalone instrument is to be measured at its fair value in accordance with ASC 480-10-25-14, rather than have its conversion feature bifurcated and reported separately. The fair value at issuance was $336,000. | ||||||||||
On April 1, 2013, an additional $150,000 of net proceeds were received with an issuance discount of $18,000 for an aggregate face value of $168,000. The note of $168,000 is due on April 1, 2014 and carries no interest, with an effective interest rate of 561.36% . The note is convertible at the lower of 50% of the lowest reported sale price of the common stock for the 20 trading days immediately prior to (i) the closing date on March 1, 2013 or (ii) 50% of the lowest reported sale price for the 20 days prior the conversion date of the Note. The convertible note has a fixed stated principal amount but is not convertible into a fixed number of shares, so the conversion feature is considered an imbedded derivative. However, the convertible note as a standalone instrument is to be measured at its fair value in accordance with ASC 480-10-25-14, rather than have its conversion feature bifurcated and reported separately. The fair value at issuance was $336,000. | ||||||||||
On May 1, 2013, an additional $100,000 of net proceeds were received with an issuance discount of $12,000 for an aggregate face value of $112,000. The note of $112,000 is due on May 1, 2014 and carries no interest, with an effective interest rate of 561.36% . The note is convertible at the lower of 50% of the lowest reported sale price of the common stock for the 20 trading days immediately prior to (i) the closing date on March 1, 2013 or (ii) 50% of the lowest reported sale price for the 20 days prior the conversion date of the Note. The convertible note has a fixed stated principal amount but is not convertible into a fixed number of shares, so the conversion feature is considered an imbedded derivative. However, the convertible note as a standalone instrument is to be measured at its fair value in accordance with ASC 480-10-25-14, rather than have its conversion feature bifurcated and reported separately. The fair value at issuance was $224,000. | ||||||||||
On June 1, 2013, an additional $100,000 of net proceeds were received with an issuance discount of $12,000 for an aggregate face value of $112,000. The note of $112,000 is due on June 1, 2014 and carries no interest, with an effective interest rate of 561.36% . The note is convertible at the lower of 50% of the lowest reported sale price of the common stock for the 20 trading days immediately prior to (i) the closing date on March 1, 2013 or (ii) 50% of the lowest reported sale price for the 20 days prior the conversion date of the Note. The convertible note has a fixed stated principal amount but is not convertible into a fixed number of shares, so the conversion feature is considered an imbedded derivative. However, the convertible note as a standalone instrument is to be measured at its fair value in accordance with ASC 480-10-25-14, rather than have its conversion feature bifurcated and reported separately. The fair value at issuance was $224,000. | ||||||||||
On July 1, 2013, the final tranche of $100,000 of net proceeds were received with an issuance discount of $12,000 for an aggregate face value of $112,000. The note of $112,000 is due on July 1, 2014 and carries no interest, with an effective interest rate of 561.36% . The note is convertible at the lower of 50% of the lowest reported sale price of the common stock for the 20 trading days immediately prior to (i) the closing date on March 1, 2013 or (ii) 50% of the lowest reported sale price for the 20 days prior to the conversion date of the Note. The convertible note has a fixed stated principal amount but is not convertible into a fixed number of shares, so the conversion feature is considered an imbedded derivative. However, the convertible note as a standalone instrument is to be measured at its fair value in accordance with ASC 480-10-25-14, rather than have its conversion feature bifurcated and reported separately. The fair value at issuance was $224,000. | ||||||||||
Effective September 13, 2013, the Company entered into another securities purchase agreement with an investor. Pursuant to the terms of the agreement, the investor acquired a convertible promissory note with aggregate net proceeds of $500,000, | ||||||||||
On September 16, 2013, $250,000 net proceeds were received. The note of $250,000 is due on March 16, 2015 and carries an annual interest rate of 15%, with an effective interest rate of 227.33% . The note is convertible at the lower of 50% of the lowest reported sale price of the common stock for the 20 trading days immediately prior to (i) the closing date on September 16, 2013 or (ii) 50% of the lowest reported sale price for the 20 days prior the conversion date of the Note. The convertible note has a fixed stated principal amount but is not convertible into a fixed number of shares, so the conversion feature is considered an imbedded derivative. However, the convertible note as a standalone instrument is to be measured at its fair value in accordance with ASC 480-10-25-14, rather than have its conversion feature bifurcated and reported separately. The fair value at issuance was $500,000. During the period ended September 30, 2013, an interest expense of $1,563 was accrued. | ||||||||||
Pursuant to the agreement, the final tranche of $250,000 net proceeds was received in October 2013. The investor has the option during the 18 months period following September 13, 2013 to purchase additional convertible notes upon the same term and conditions for up to $1,500,000. | ||||||||||
Along with the promissory note issued on February 13, 2013, the Company issued warrants for 540,540 shares of the Company at an exercise price of $0.185 expiring February 13, 2018, 263,158 shares of the Company at an exercise price of $0.190 expiring April 24, 2018, 297,619 shares of the Company at an exercise price of $0.168 expiring June 4, 2018, 400,000 shares of the Company at an exercise price of $0.125 expiring June 27, 2018 and 334,821 shares of the Company at an exercise price of $0.224 expiring August 14, 2018 respectively. Along with the promissory note issued on March 1, 2013, the Company issued warrants to acquire a total of 3,632,433 shares of the Company for a period of five years at an exercise price of $0.185. Along with the promissory note entered on September 16, 2013, the Company issued warrants to acquire a total of 2,777,778 shares of the Company for a period of five years at an exercise price of $0.09. | ||||||||||
The warrants bear a cashless exercise provision. The warrants also include anti-dilution protection with respect to lower priced issuances of common stock or securities convertible or exchangeable into common stock, which provision resulted in derivative liability treatment under ASC topic 815-10-55. Fair values at issuance totaled $94,594, $1,126,054, $50,000, $50,595, $48,000, $75,000 and $368,333 for warrants issued on February 13, 2013, March 1, 2013, April 24, 2013, June 4, 2013, June 27, 2013, August 14, 2013 and September 16, 2013 respectively. | ||||||||||
On September 6, 2013, 3,632,433 warrants were exercised for 2,375,052 common shares of the Company at a deemed price of $0.19 in accordance with the terms of the agreement. A loss of $83,546 was recorded when the warrants were valued prior to the warrants exercise. On September 23, 2013, 540,540 warrants were exercised for 1,293,717 common shares of the Company at a deemed price of $0.04 in accordance with the term of the agreement. A loss of $2,432 was recorded when the warrants were valued prior to the warrants exercise. | ||||||||||
The Company used the Lattice Model for valuing warrants using the following assumptions: | ||||||||||
. | Risk-free interest rates: 0.70% - 1.65% | |||||||||
. | Term: 5 years | |||||||||
. | Dividend yield: 0% | |||||||||
. | Underlying stock prices: $0.12 - $0.31 | |||||||||
. | Volatilities: 485% - 489% | |||||||||
At September 30, 2013, the warrants were valued at $476,585 resulting in a gain of $62,826 in the period ended September 30, 2013. The corresponding debt discount of the promissory notes was accreted to interest expense over the terms of notes of 3 years, 1 year and 18 months respectively. During the period ended September 30, 2013, an accretion of $91,972 was recognized as interest expense. | ||||||||||
Warrants | Weighted | Weighted | ||||||||
Outstanding | Average | Average | ||||||||
Exercise | Remaining | |||||||||
Price | life | |||||||||
Balance, June 30, 2013 | 5,133,750 | $ | 0.18 | 4.71 years | ||||||
Warrants issued | 3,112,599 | $ | 0.104 | 4.95 years | ||||||
Exercised | (4,172,973 | ) | $ | 0.185 | - | |||||
Cancelled | - | $ | - | - | ||||||
Expired | - | $ | - | - | ||||||
Balance, September 30, 2013 | 4,073,376 | $ | 0.117 | 4.89 years |
Related_Party_Transactions
Related Party Transactions | 3 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Text Block] | ' |
8. Related Party Transactions | |
During the period ended September 30, 2013, the Company incurred consulting fees of $61,000 (2012 - $9,000) with directors and officers. | |
As of September 30, 2013, the Company was obligated to a director for a non-interest bearing demand loan with a balance of $45,332 (June 30, 2013 - $45,332). The Company plans to pay the loan back as cash flows become available. | |
These transactions are in the normal course of operations and are measured at the exchange amount of consideration established and agreed to by the related parties. |
Going_Concern_and_Liquidity_Co
Going Concern and Liquidity Considerations | 3 Months Ended |
Sep. 30, 2013 | |
Going Concern and Liquidity Considerations [Text Block] | ' |
9. Going Concern and Liquidity Considerations | |
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. As at September 30, 2013, the Company had a working capital deficiency of $1,257,165 and an accumulated deficit of $34,052,764. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the next twelve months. | |
The ability of the Company to emerge from the exploration stage is dependent upon, among other things, obtaining additional financing to continue operations, explore and develop the mineral properties and the discovery, development and sale of ore reserves. | |
In response to these problems, management intends to raise additional funds through public or private placement offerings. | |
These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Commitments
Commitments | 3 Months Ended | ||
Sep. 30, 2013 | |||
Commitments [Text Block] | ' | ||
10. Commitments | |||
Employment Agreements | |||
On January 12, 2012, the Company entered into an employment agreement with a director and officer. Commencing on January 12, 2012, the director and officer will be employed for 24 months ending on January 12, 2014. Pursuant to the agreement, annual salary of US$120,000 is payable monthly in cash or if the Company does not have available cash, in shares of the Company’s common stock. | |||
On May 1, 2012, the Company entered into an employment agreement with an officer. Commencing on May 1, 2012, the officer will be employed for 12 months ending on May 1, 2013. Pursuant to the agreement, annual salary of US$100,000 is payable monthly or in more frequent installments in cash. On May 1, 2012, the officer received 26,041 common shares of the Company at a market price of $0.96 per share for a total of $25,000 as a signing bonus (Note 3). The agreement expired on May 1, 2013. | |||
Consulting Agreements | |||
On January 12, 2012, the Company entered into two consulting agreements with consultants to provide services as members of the Board of Directors in regards to the Company’s management and operations. The compensation for the services to be provided by each consultant will be 150,000 shares of the Company’s common stock issuable at the beginning of each year from an effective date of April 27, 2011 to April 27, 2014, of which 150,000 shares have already been issued to each consultant in each of their first, second and third years of service (Note 3). | |||
On May 15, 2012, the Company entered into a consulting agreement with a contractor to provide services in regards to the Company’s management and operations. Resulting from the consulting agreement the contractor became an officer of the Company. Commencing on May 15, 2012, the officer will be employed for 12 months ending on May 15, 2013. Pursuant to the agreement, a monthly salary of US$3,000 is payable in cash. On May 15, 2012, the officer received 40,323 common shares of the Company at a market price of $0.62 per share for a total of $25,000 as a signing bonus (Note 3). The agreement was terminated and replaced by a new agreement on March 15, 2013. Pursuant to the new agreement, a monthly salary of US$12,000 is payable in cash and/or common shares of the Company at the discretion of the Company for six months starting March 15, 2013. On September 15, 2013, the contract was renewed for an additional four months expiring December 2013. | |||
On March 1, 2013, the Company entered into an agreement with a contractor to provide the services regarding the Company’s management and operation. Pursuant to the agreement, the contractor will receive a number of common shares of the Company valued at $8,000 and $8,000 in cash per month for five months starting March 1, 2013. The contract expired in July 2013. | |||
On May 1, 2013, the Company entered into an agreement with a consultant to provide consulting services in regards to the Company’s operation. Pursuant to the agreement, the consultant will receive $8,333.33 per month in cash and/or common shares of the Company starting from May 1, 2013 and will continue for a period of eight months. | |||
On June 3, 2013, the Company entered into an agreement with a consultant to provide consulting services of internship-market research and financial modeling. Pursuant to the agreement, the consultant will receive $2,000 per month in cash for two months starting June 3, 2013. The contract expired in July 2013. | |||
On July 25, 2013, the Company entered into a Consulting Agreement with Advanced Capital Trading, LLC, pursuant to which Advanced Capital will perform financial consulting services for the Company for a period of three months with an extension of an additional three months based on performance, such services to commence effective August 1, 2013. Compensation payable to Advanced Capital of $10,000 was paid upon execution of the Consulting Agreement. | |||
On September 16, 2013, the Company and Advanced Capital entered into an Expanded Services Agreement which extended the term of the commitment for an additional three months through January 2014. | |||
Acquisition of Tero Oilfield Services Ltd | |||
On August 20, 2013, the Company entered into a letter of intent with Tero Oilfield Services Ltd. (“Tero”), a private company, pursuant to which Tero agreed to sell to the Company 75% of the issued and outstanding common shares of Tero (“Acquisition”) in exchange for an aggregate of $1,500,000, comprised of: | |||
i). | a non-refundable cash deposit of $50,000 to the shareholder of Tero within 10 days of entering the LOI (US$48,832 paid) | ||
ii). | a payment of $950,000 in cash at the earlier of closing or December 1, 2013 to the shareholder of Tero | ||
iii). | a secured convertible debenture to the shareholder of Tero in the amount of $500,000 payable on December 1, 2014 (the “Debenture”). The Debenture shall be convertible into common shares at a price determined by the Company and Tero prior to close of the Acquisition | ||
In connection with the LOI and the Acquisition, the Company shall loan $500,000 to Tero for the settlement of debt owed to Smith Group Holdings Inc. |
Subsequent_Events
Subsequent Events | 3 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Text Block] | ' |
11. Subsequent Events | |
Acquisition of Blue Tap Resources | |
On June 11, 2013, the Company entered into a letter of intent for the acquisition of Blue Tap Resources (“Blue Tap”). | |
Pursuant to the agreement, the Company will purchase not less than 51% of the issued and outstanding securities of Blue Tap. This purchase will be undertaken initially by the making available of $150,000 CDN to be used by Blue Tap, under the Company’s fund control and supervision, for the purposes of carrying out the required step to obtain approval for, and the return of, the facility to active operation as a water disposal facility. The Company will agree to make available an additional $150,000 CDN to be applied toward liability security deposits required under the Alberta Regulatory Framework at the time which it is required. The first two payments of $150,000 to Blue Tap for the aggregate of $300,000 shall be considered a bridge loan, with such terms and repayment provisions to be specified in the Transaction Agreement, until and unless the following conditions are satisfied for the funding of the additional $150,000. Provided that initial efforts to return the facility to revenue producing status are successful and efforts toward obtaining approvals to move the facility to Class 1A waste designation are ongoing with progress satisfactory to the Company, an additional $150,000 CDN will be made available for purposes of continued facility development. Upon funding of $450,000 CDN under the preceding terms, the Company, through its wholly owned subsidiary, Alta Disposal Ltd., shall be considered to have purchased a 51% equity interest in Blue Tap. | |
Closing of the transaction was subject to a number of conditions. The parties negotiated the definitive terms of the Transaction Agreement. | |
As of September 30, 2013, CDN $10,000 (US $10,170) was paid by the Company as a deposit. | |
On July 29, 2013, in anticipation of the completion of a formal agreement with Blue Tap embodying the terms of the LOI, the Company entered into a Convertible Debenture Agreement (the “Debenture”) with Blue Tap pursuant to which the Company has agreed to deliver to Blue Tap up to CDN$300,000 (approximately USD$291,000) payable in two installments of CDN$150,000 deliverable respectively upon execution of the Debenture, and within 5 business days following receipt of regulatory approval for the reactivation of Blue Tap’s waste water disposal facility. Delivery of the first installment of CDN$150,000 has been satisfied. The funds advanced shall be secured against all present and future assets and undertakings of Blue Tap and shall be convertible at the Company’s option into a number of common shares of Blue Tap equal to 51% of its issued and outstanding voting stock. In the event that the Company does not acquire a 51% interest in Blue Tap, the principal amount of the Debenture shall be payable in full by July 30, 2014. The principal amount will bear no interest until maturity, whereafter it will bear interest of 8% per annum. | |
On October 18, 2013, the Company, through its wholly owned subsidiary, Alta Disposal Ltd., completed the acquisition of 51% of shares of Blue Tap for total payment of $450,000 CDN. As of September 30, 2013, CDN $300,000 (US$294,908) was paid regarding the acquisition. | |
The acquisition of Blue Tap was completed through the Company’s newly incorporated, wholly owned subsidiary, Alta Disposal Ltd., which was formed in the Province of Alberta for the sole purpose of the transaction with Blue Tap. Concurrent with the closing of the acquisition, Alta entered into a Unanimous Shareholders and Management Agreement (the “Shareholders Agreement”) dated October 18, 2013 with Excel Petroleum Ltd. (which holds 49% of Blue Tap) and Blue Tap itself. Pursuant to the Shareholders Agreement, Alta may continue to fund the current capital requirements of Blue Tap up to an aggregate of $420,000 in consideration of additional shares of Blue Tap at the rate of 163,250 shares (equivalent to approximately 5% of Blue Tap’s common shares on a diluted basis) for each $105,000 funded until Alta holds an aggregate of 70% of Blue Tap’s outstanding common shares. If Alta elects to fund the on-going capital requirements of Blue Tap beyond the aggregate of $870,000 any such funds advanced by Alta will be deemed to be funds loaned by Alta to Blue Tap on a non-interest bearing, unsecured bridge loan basis. Any such funds provided to Blue Tap will be repayable from cash flow generated by Blue Tap. Funds loaned prior to June 30, 2014 will not be due and payable until June 30, 2014 and thereafter will not be due and payable until at least 6 months following the date of any such loan. | |
The Shareholders Agreement additionally provides for the engagement of Valeura Energy Inc. as the operator of Blue Tap’s lands, wells, the facilities, pipelines and disposal wells pursuant to an Operating Agreement between Blue Tap and Valeura dated July 9, 2013. Valeura will retain a 10% working interest in Blue Tap’s lands until completion of the initial work on the disposal well project and will re-convey that interest to Blue Tap provided that Blue Tap has paid Valeura a cash payment of $2,500 per month for acting as Operator of the Disposal Well and the Lands and upon payment of an amount of $10,000 to Valeura upon completion of the project. The disposal well work program must be mutually approved by Blue Tap and Valeura. Blue Tap will be responsible for all costs and expenses relating to the work program. | |
Issuances of common shares | |
On October 1, 2013, the Company issued 66,667 common shares at a market price of $0.12 per share for consulting fees. | |
On October 1, 2013, the Company issued 71,716 common shares at a weighted average price of $0.1162 per share for consulting fees. | |
On October 9, 2013, the Company issued 1,300,000 common shares at a deemed price of $0.045 per share for debt conversion. | |
On October 15, 2013, the Company issued 95,643 common shares at a market price of $0.0941 per share for consulting fees. | |
On October 18, 2013, the Company converted 20,000,000 preferred shares to common shares on a one for one basis. | |
On October 23, 2013, the Company issued 501,355 common shares for warrants exercise. | |
On November 11, 2013, the Company issued 1,387,500 common shares at a deemed price of $0.042 per share for an aggregate of $58,275 pursuant to a conversion of a convertible note. . | |
The Company has evaluated subsequent events from October 1, 2013 through the date of this report, and determined there are no other items to disclose. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2013 | |
Use of Estimates [Policy Text Block] | ' |
Use of Estimates | |
The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. Significant estimates that may materially change in the near term include the valuation of derivative liabilities and the underlying warrants, as well as fair value of investments. | |
Cash and Cash Equivalents [Policy Text Block] | ' |
Cash and Cash Equivalents | |
Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with original maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $119,458 and $248,624 in cash and cash equivalents at September 30, 2013 and June 30, 2013, respectively. | |
Concentration of Risk [Policy Text Block] | ' |
Concentration of Risk | |
The Company maintains cash balances at a financial institution which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits for banks located in the US. As of September 30, 2013 and June 30, 2013, the Company had $nil and $25,935, respectively, in deposits in excess of federally insured limits in its US bank. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk of loss on its cash in bank accounts. | |
Prepaid expenses [Policy Text Block] | ' |
Prepaid expenses | |
Prepaid expenses mainly consist of legal retainers, deposit for mineral property exploration, and shares issued for investor relations. Legal retainers and deposit for mineral property exploration will be expensed in the period when services are completed. Shares issued for investor relations are amortized as investor relation expenses over service term. | |
Start-Up Costs [Policy Text Block] | ' |
Start-Up Costs | |
In accordance with FASC 720-15-20 “ Start-Up Costs,” the Company expenses all costs incurred in connection with the start-up and organization of the Company. | |
Mineral Acquisition and Exploration Costs [Policy Text Block] | ' |
Mineral Acquisition and Exploration Costs | |
The Company has been in the exploration stage since its formation on May 31, 2006 and has not yet realized any revenue from its planned operations. It is primarily engaged in the acquisition, exploration, and development of mining properties. Mineral property acquisition and exploration costs are expensed as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs incurred to develop such property are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserves. | |
Concentrations of Credit Risk [Policy Text Block] | ' |
Concentrations of Credit Risk | |
The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. | |
Net Income or (Loss) per Share of Common Stock [Policy Text Block] | ' |
Net Income or (Loss) per Share of Common Stock | |
The Company has adopted FASC Topic No. 260, “ Earnings Per Share ,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. | |
Potentially dilutive securities are not presented in the computation of EPS since their effects are anti-dilutive. | |
Foreign Currency Translations [Policy Text Block] | ' |
Foreign Currency Translations | |
The Company’s functional and reporting currency is the US dollar. All transactions initiated in other currencies are translated into US dollars using the exchange rate prevailing on the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated into the US dollar at the rate of exchange in effect at the balance sheet date. Unrealized exchange gains and losses arising from such transactions are deferred until realization and are included as a separate component of stockholders’ equity (deficit) as a component of comprehensive income or loss. Upon realization, the amount deferred is recognized in income in the period when it is realized. | |
No significant realized exchange gain or losses were recorded from inception (May 31, 2006) to September 30, 2013. | |
Comprehensive Income (Loss) [Policy Text Block] | ' |
Comprehensive Income (Loss) | |
FASC Topic No. 220, “ Comprehensive Income,” establishes standards for reporting and display of comprehensive income and its components in a full set of general-purpose financial statements. From inception (May 31, 2006) to September 30 2013, the Company had no items of other comprehensive income. Therefore, net loss equals comprehensive loss from inception (May 31, 2006) to September 30, 2013. | |
Risks and Uncertainties [Policy Text Block] | ' |
Risks and Uncertainties | |
The Company operates in the resource exploration industry that is subject to significant risks and uncertainties, including financial, operational, technological, and other risks associated with operating a resource exploration business, including the potential risk of business failure. | |
Environmental Expenditures [Policy Text Block] | ' |
Environmental Expenditures | |
The operations of the Company have been, and may in the future be, affected from time to time in varying degree by changes in environmental regulations, including those for future reclamation and site restoration costs. Both the likelihood of new regulations and their overall effect upon the Company vary greatly and are not predictable. The Company's policy is to meet or, if possible, surpass standards set by relevant legislation by application of technically proven and economically feasible measures. | |
Environmental expenditures that relate to ongoing environmental and reclamation programs are charged against earnings as incurred or capitalized and amortized depending on their future economic benefits. All of these types of expenditures incurred since inception have been charged against earnings due to the uncertainty of their future recoverability. Estimated future reclamation and site restoration costs, when the ultimate liability is reasonably determinable, are charged against earnings over the estimated remaining life of the related business operation, net of expected recoveries. | |
Warrants [Policy Text Block] | ' |
Warrants | |
We value our warrants with provisions resulting in derivative liabilities at fair value using the lattice model according to ASC-815-10-55. We revalue our warrants at the end of every period at fair value and record the difference in other income (expense) in the consolidated statement of operations. | |
Convertible Debentures and Convertible Promissory Notes [Policy Text Block] | ' |
Convertible Debentures and Convertible Promissory Notes | |
We value our convertible debentures and convertible promissory notes with provisions resulting in beneficial conversion features from the embedded derivative at fair value according to ASC-840-10-25-14, rather than have its conversion feature bifurcated and reported separately due to ASC-815-15-25-1b. Because the value of the derivative related to the warrant exceeds the proceeds of the loan, the Company allocated 100% of the proceeds to the warrant derivative and took a day one loss for the difference between the proceeds and the fair value of the warrants, resulting in a debt discount on the full fair value of the debenture because no proceeds were available to be allocated to the debt or its beneficial conversion feature. That debt discount is accreted to interest expense over the stated life of the note using the interest method in accordance with ASC 470-20-35-7a and 835-30-35-2. Unaccreted debt discount on the date of conversion is accreted to interest expense on that date. | |
Fair Value of Financial Instruments [Policy Text Block] | ' |
Fair Value of Financial Instruments | |
ASC 820, “Fair Value Measurements and Disclosures” requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: | |
Level 1 - Quoted prices in active markets for identical assets or liabilities; | |
Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and | |
Level 3 - Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. | |
The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, prepaid expenses, deposit, accounts payable and accrued liabilities, and due to a related party approximate their fair values because of the short maturity of these instruments. | |
The Company’s Level 3 financial liabilities consist of the derivative liability of the Company’s secured convertible promissory notes and debentures issued to investors, and the derivative warrants issued in connection with these convertible promissory notes and debentures. There is no current market for these securities such that the determination of fair value requires significant judgment or estimation. The Company used a lattice model which incorporates transaction details such as Company stock price, contractual terms, maturity, risk free rates, as well as assumptions about future financings, volatility, and holder behavior as of the date of issuance and each balance sheet date. | |
Recent Accounting Pronouncements [Policy Text Block] | ' |
Recent Accounting Pronouncements | |
Recent accounting pronouncements that are listed below did not, and are not currently expected to, have a material effect on the Company’s financial statements, but will be implemented in the Company’s future financial reporting when applicable. | |
FASB Statements [Policy Text Block] | ' |
FASB Statements: | |
In June 2009 the FASB established the Accounting Standards Codification ("Codification" or "ASC") as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). Rules and interpretive releases of the Securities and Exchange Commission ("SEC") issued under authority of federal securities laws are also sources of GAAP for SEC registrants. Existing GAAP was not intended to be changed as a result of the Codification, and accordingly the change did not impact our financial statements. The ASC does change the way the guidance is organized and presented. | |
Accounting Standards Updates ("ASUs") through ASU No. 2013-11 which contain technical corrections to existing guidance or affect guidance to specialized industries or entities were recently issued. These updates have no current applicability to the Company or their effect on the financial statements would not have been significant. |
Capital_Stock_Tables
Capital Stock (Tables) | 3 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Schedule of Equity Issuances [Table Text Block] | ' | ||||||||||||
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 | |||||||||
Cumulative Totals | 65,981,081 | $ | 25,414,450 |
Convertible_Promissory_Notes_T
Convertible Promissory Notes (Tables) | 3 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Schedule of Stockholders' Equity Warrants Activity [Table Text Block] | ' | |||||||||
Warrants | Weighted | Weighted | ||||||||
Outstanding | Average | Average | ||||||||
Exercise | Remaining | |||||||||
Price | life | |||||||||
Balance, June 30, 2013 | 5,133,750 | $ | 0.18 | 4.71 years | ||||||
Warrants issued | 3,112,599 | $ | 0.104 | 4.95 years | ||||||
Exercised | (4,172,973 | ) | $ | 0.185 | - | |||||
Cancelled | - | $ | - | - | ||||||
Expired | - | $ | - | - | ||||||
Balance, September 30, 2013 | 4,073,376 | $ | 0.117 | 4.89 years |
Organization_Narrative_Details
Organization (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2013 | |
Organization 1 | 20 |
Organization 2 | 50.00% |
Organization 3 | 100.00% |
Significant_Accounting_Policie1
Significant Accounting Policies (Narrative) (Details) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Significant Accounting Policies 1 | $119,458 |
Significant Accounting Policies 2 | 248,624 |
Significant Accounting Policies 3 | 0 |
Significant Accounting Policies 4 | $25,935 |
Significant Accounting Policies 5 | 100.00% |
Capital_Stock_Narrative_Detail
Capital Stock (Narrative) (Details) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Capital Stock 1 | 100,000,000 |
Capital Stock 2 | 100,000,000 |
Capital Stock 3 | $0.00 |
Capital Stock 4 | 600,000,000 |
Capital Stock 5 | 500,000,000 |
Capital Stock 6 | $0.00 |
Capital Stock 7 | 100,000,000 |
Capital Stock 8 | $0.00 |
Capital Stock 9 | 80,000 |
Capital Stock 10 | $0.10 |
Capital Stock 11 | 37,594 |
Capital Stock 12 | $0.13 |
Capital Stock 13 | 954,461 |
Capital Stock 14 | $0.08 |
Capital Stock 15 | $105,410 |
Capital Stock 16 | 2,000,000 |
Capital Stock 17 | $0.05 |
Capital Stock 18 | 138,462 |
Capital Stock 19 | 181,818 |
Capital Stock 20 | $0.11 |
Capital Stock 21 | 54,545 |
Capital Stock 22 | $0.11 |
Capital Stock 23 | 48,485 |
Capital Stock 24 | $0.17 |
Capital Stock 25 | 46,997 |
Capital Stock 26 | $0.15 |
Capital Stock 27 | 1,585,714 |
Capital Stock 28 | $0.07 |
Capital Stock 29 | 163,693 |
Capital Stock 30 | 844,300 |
Capital Stock 31 | $0.05 |
Capital Stock 32 | 68,194 |
Capital Stock 33 | 28,736 |
Capital Stock 34 | $0.21 |
Capital Stock 35 | 57,469 |
Capital Stock 36 | $0.14 |
Capital Stock 37 | 61,069 |
Capital Stock 38 | $0.13 |
Capital Stock 39 | 2,375,052 |
Capital Stock 40 | $0.19 |
Capital Stock 41 | 446,789 |
Capital Stock 42 | 48,702 |
Capital Stock 43 | $0.12 |
Capital Stock 44 | 1,400,000 |
Capital Stock 45 | $0.05 |
Capital Stock 46 | 96,923 |
Capital Stock 47 | 1,293,717 |
Capital Stock 48 | $0.04 |
Capital Stock 49 | 56,486 |
Capital Stock 50 | 1,504,415 |
Capital Stock 51 | $0.19 |
Capital Stock 52 | 289,600 |
Capital Stock 53 | 815,047 |
Capital Stock 54 | $0.16 |
Capital Stock 55 | 130,000 |
Capital Stock 56 | 1,581,028 |
Capital Stock 57 | $0.13 |
Capital Stock 58 | 200,000 |
Capital Stock 59 | 20,000,000 |
Capital Stock 60 | 20,000,000 |
Capital Stock 61 | 62,500 |
Capital Stock 62 | $0.24 |
Capital Stock 63 | 41,667 |
Capital Stock 64 | $0.24 |
Capital Stock 65 | 949,171 |
Capital Stock 66 | $0.12 |
Capital Stock 67 | 111,053 |
Capital Stock 68 | 55,556 |
Capital Stock 69 | $0.27 |
Capital Stock 70 | 38,462 |
Capital Stock 71 | $0.26 |
Capital Stock 72 | 55,556 |
Capital Stock 73 | $0.27 |
Capital Stock 74 | 40,000 |
Capital Stock 75 | $0.25 |
Capital Stock 76 | 1,028,113 |
Capital Stock 77 | $0.25 |
Capital Stock 78 | 257,028 |
Capital Stock 79 | 78,947 |
Capital Stock 80 | $0.19 |
Capital Stock 81 | 41,667 |
Capital Stock 82 | $0.24 |
Capital Stock 83 | 2,000,000 |
Capital Stock 84 | $0.08 |
Capital Stock 85 | 154,000 |
Capital Stock 86 | 48,387 |
Capital Stock 87 | $0.31 |
Capital Stock 88 | 25,806 |
Capital Stock 89 | $0.31 |
Capital Stock 90 | 2,000,000 |
Capital Stock 91 | $0.08 |
Capital Stock 92 | 154,000 |
Capital Stock 93 | 47,619 |
Capital Stock 94 | $0.21 |
Capital Stock 95 | 2,000,000 |
Capital Stock 96 | $0.10 |
Capital Stock 97 | 190,000 |
Capital Stock 98 | 38,876 |
Capital Stock 99 | $0.23 |
Capital Stock 100 | 95,238 |
Capital Stock 101 | $0.21 |
Capital Stock 102 | 389,189 |
Capital Stock 103 | $0.19 |
Capital Stock 104 | 71,429 |
Capital Stock 105 | $0.21 |
Capital Stock 106 | 38,095 |
Capital Stock 107 | $0.21 |
Capital Stock 108 | 100,000 |
Capital Stock 109 | $0.20 |
Capital Stock 110 | 57,007 |
Capital Stock 111 | $0.21 |
Capital Stock 112 | 50,000 |
Capital Stock 113 | $0.20 |
Capital Stock 114 | 2,000,000 |
Capital Stock 115 | $0.08 |
Capital Stock 116 | 161,000 |
Capital Stock 117 | 300,000 |
Capital Stock 118 | $0.18 |
Capital Stock 119 | 47,059 |
Capital Stock 120 | $0.17 |
Capital Stock 121 | 2,000,000 |
Capital Stock 122 | $0.08 |
Capital Stock 123 | 150,000 |
Capital Stock 124 | 113,636 |
Capital Stock 125 | $0.18 |
Capital Stock 126 | 70,588 |
Capital Stock 127 | $0.17 |
Capital Stock 128 | 2,400,000 |
Capital Stock 129 | $0.08 |
Capital Stock 130 | $180,000 |
Capital Stock 131 | 50,000 |
Capital Stock 132 | $0.16 |
Capital Stock 133 | 142,857 |
Capital Stock 134 | $0.14 |
Capital Stock 135 | 88,235 |
Capital Stock 136 | $0.14 |
Capital Stock 137 | 10 |
Capital Stock 353 | 11,778,615 |
Capital Stock 354 | 18,516,037 |
Capital Stock 355 | 872,375 |
Capital Stock 356 | 948,604 |
Capital Stock 357 | 200,000 |
Capital Stock 358 | 24,428,393 |
Capital Stock 359 | 1,028,113 |
Capital Stock 360 | 1,585,714 |
Capital Stock 361 | 3,668,769 |
Capital Stock 362 | 954,461 |
Capital Stock 363 | 2,000,000 |
Capital Stock 364 | 20,000,000 |
Capital Stock 365 | $0.00 |
Capital Stock 366 | 4,073,376 |
Capital Stock 367 | 300,000 |
Capital Stock 368 | 300,000 |
Provision_For_Income_Taxes_Nar
Provision For Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Provision For Income Taxes 1 | $10,188,080 |
Provision For Income Taxes 2 | 74,779 |
Provision For Income Taxes 3 | $358,641 |
Mineral_Property_Costs_Narrati
Mineral Property Costs (Narrative) (Details) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2013 | |
USD ($) | CAD | |
D | ||
ha | ||
Mineral Property Costs 1 | 50.00% | 50.00% |
Mineral Property Costs 2 | 3,900 | 3,900 |
Mineral Property Costs 3 | 1,500,000 | 1,500,000 |
Mineral Property Costs 4 | $1,000,000 | ' |
Mineral Property Costs 5 | 50.00% | 50.00% |
Mineral Property Costs 6 | 100,000 | ' |
Mineral Property Costs 7 | 200,000 | ' |
Mineral Property Costs 8 | ' | 54,624 |
Mineral Property Costs 9 | 57,901 | ' |
Mineral Property Costs 10 | 200,000 | 200,000 |
Mineral Property Costs 11 | 3.7 | ' |
Mineral Property Costs 12 | 740,000 | ' |
Mineral Property Costs 13 | 797,901 | ' |
Mineral Property Costs 14 | 100.00% | 100.00% |
Mineral Property Costs 15 | 90,000 | ' |
Mineral Property Costs 16 | 90,000 | ' |
Mineral Property Costs 17 | ' | 40,000 |
Mineral Property Costs 18 | ' | 60,000 |
Mineral Property Costs 19 | ' | 100,000 |
Mineral Property Costs 20 | ' | 300,000 |
Mineral Property Costs 21 | ' | 50,000 |
Mineral Property Costs 22 | ' | 100,000 |
Mineral Property Costs 23 | ' | 20,000 |
Mineral Property Costs 24 | ' | 80,000 |
Mineral Property Costs 25 | 15.00% | 15.00% |
Mineral Property Costs 26 | 15.00% | 15.00% |
Mineral Property Costs 27 | ' | 80,000 |
Mineral Property Costs 28 | 75.00% | 75.00% |
Mineral Property Costs 29 | 100,000 | ' |
Mineral Property Costs 30 | 20,000 | ' |
Mineral Property Costs 31 | 80,000 | ' |
Mineral Property Costs 32 | 106,667 | ' |
Mineral Property Costs 33 | 26,667 | ' |
Mineral Property Costs 34 | ' | 3,058 |
Mineral Property Costs 35 | 2,899 | ' |
Mineral Property Costs 36 | ' | 80,000 |
Mineral Property Costs 37 | 75,844 | ' |
Mineral Property Costs 38 | ' | 3,058 |
Mineral Property Costs 39 | 2,899 | ' |
Mineral Property Costs 40 | ' | 83,058 |
Mineral Property Costs 41 | 78,743 | ' |
Mineral Property Costs 42 | 954,461 | 954,461 |
Mineral Property Costs 43 | $0.08 | ' |
Mineral Property Costs 44 | 25,000 | ' |
Mineral Property Costs 45 | 75,000 | ' |
Mineral Property Costs 46 | 180 | 180 |
Mineral Property Costs 47 | 700,000 | ' |
Mineral Property Costs 48 | 10 | 10 |
Mineral Property Costs 49 | 2,000,000 | 2,000,000 |
Mineral Property Costs 50 | 1 | ' |
Mineral Property Costs 51 | 2,000,000 | 2,000,000 |
Mineral Property Costs 52 | 4,940,000 | ' |
Mineral Property Costs 53 | 2,000,000 | 2,000,000 |
Mineral Property Costs 54 | 2 | ' |
Mineral Property Costs 55 | 150,000 | ' |
Mineral Property Costs 56 | 15,000 | ' |
Mineral Property Costs 57 | 2,000,000 | 2,000,000 |
Mineral Property Costs 58 | 25 | 25 |
Mineral Property Costs 59 | 20,000 | ' |
Mineral Property Costs 60 | $30,000 | ' |
Convertible_Debenture_Narrativ
Convertible Debenture (Narrative) (Details) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
M | |
D | |
Convertible Debenture 1 | $1,680,000 |
Convertible Debenture 2 | 180,000 |
Convertible Debenture 3 | 1,500,000 |
Convertible Debenture 4 | 561.35% |
Convertible Debenture 5 | 0.45 |
Convertible Debenture 6 | 65.00% |
Convertible Debenture 7 | 20 |
Convertible Debenture 8 | 2,584,615 |
Convertible Debenture 9 | 154,000 |
Convertible Debenture 10 | 2,000,000 |
Convertible Debenture 11 | $0.08 |
Convertible Debenture 12 | 154,000 |
Convertible Debenture 13 | 2,000,000 |
Convertible Debenture 14 | $0.08 |
Convertible Debenture 15 | 190,000 |
Convertible Debenture 16 | 2,000,000 |
Convertible Debenture 17 | $0.10 |
Convertible Debenture 18 | 161,000 |
Convertible Debenture 19 | 2,000,000 |
Convertible Debenture 20 | $0.08 |
Convertible Debenture 21 | 150,000 |
Convertible Debenture 22 | 2,000,000 |
Convertible Debenture 23 | $0.08 |
Convertible Debenture 24 | 180,000 |
Convertible Debenture 25 | 2,400,000 |
Convertible Debenture 26 | $0.08 |
Convertible Debenture 27 | 90,000 |
Convertible Debenture 28 | 2,000,000 |
Convertible Debenture 29 | $0.05 |
Convertible Debenture 30 | 44,326 |
Convertible Debenture 31 | 844,300 |
Convertible Debenture 32 | $0.53 |
Convertible Debenture 33 | 63,000 |
Convertible Debenture 34 | 1,400,000 |
Convertible Debenture 35 | $0.05 |
Convertible Debenture 36 | 12 |
Convertible Debenture 37 | 759,499 |
Convertible Debenture 38 | 493,674 |
Convertible Debenture 39 | $0.20 |
Convertible Debenture 40 | 65.00% |
Convertible Debenture 41 | 20 |
Convertible_Promissory_Notes_N
Convertible Promissory Notes (Narrative) (Details) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Y | |
D | |
M | |
Convertible Promissory Notes 1 | $1,100,000 |
Convertible Promissory Notes 2 | 100,000 |
Convertible Promissory Notes 3 | 1,000,000 |
Convertible Promissory Notes 4 | 100,000 |
Convertible Promissory Notes 5 | 10,000 |
Convertible Promissory Notes 6 | 110,000 |
Convertible Promissory Notes 7 | 50,000 |
Convertible Promissory Notes 8 | 5,000 |
Convertible Promissory Notes 9 | 55,000 |
Convertible Promissory Notes 10 | 50,000 |
Convertible Promissory Notes 11 | 5,000 |
Convertible Promissory Notes 12 | 55,000 |
Convertible Promissory Notes 13 | 50,000 |
Convertible Promissory Notes 14 | 5,000 |
Convertible Promissory Notes 15 | 55,000 |
Convertible Promissory Notes 16 | 75,000 |
Convertible Promissory Notes 17 | 7,500 |
Convertible Promissory Notes 18 | 82,500 |
Convertible Promissory Notes 19 | 110,000 |
Convertible Promissory Notes 20 | 1,585,714 |
Convertible Promissory Notes 21 | $0.07 |
Convertible Promissory Notes 22 | 225,000 |
Convertible Promissory Notes 23 | 22,500 |
Convertible Promissory Notes 24 | 247,500 |
Convertible Promissory Notes 25 | 247,500 |
Convertible Promissory Notes 26 | 5.00% |
Convertible Promissory Notes 27 | 171.61% |
Convertible Promissory Notes 28 | 0.25 |
Convertible Promissory Notes 29 | 70.00% |
Convertible Promissory Notes 30 | 20 |
Convertible Promissory Notes 31 | 353,571 |
Convertible Promissory Notes 32 | 990 |
Convertible Promissory Notes 33 | 672,000 |
Convertible Promissory Notes 34 | 72,000 |
Convertible Promissory Notes 35 | 600,000 |
Convertible Promissory Notes 36 | 150,000 |
Convertible Promissory Notes 37 | 18,000 |
Convertible Promissory Notes 38 | 168,000 |
Convertible Promissory Notes 39 | 168,000 |
Convertible Promissory Notes 40 | 561.36% |
Convertible Promissory Notes 41 | 50.00% |
Convertible Promissory Notes 42 | 20 |
Convertible Promissory Notes 43 | 50.00% |
Convertible Promissory Notes 44 | 20 |
Convertible Promissory Notes 45 | 336,000 |
Convertible Promissory Notes 46 | 150,000 |
Convertible Promissory Notes 47 | 18,000 |
Convertible Promissory Notes 48 | 168,000 |
Convertible Promissory Notes 49 | 168,000 |
Convertible Promissory Notes 50 | 561.36% |
Convertible Promissory Notes 51 | 50.00% |
Convertible Promissory Notes 52 | 20 |
Convertible Promissory Notes 53 | 50.00% |
Convertible Promissory Notes 54 | 20 |
Convertible Promissory Notes 55 | 336,000 |
Convertible Promissory Notes 56 | 100,000 |
Convertible Promissory Notes 57 | 12,000 |
Convertible Promissory Notes 58 | 112,000 |
Convertible Promissory Notes 59 | 112,000 |
Convertible Promissory Notes 60 | 561.36% |
Convertible Promissory Notes 61 | 50.00% |
Convertible Promissory Notes 62 | 20 |
Convertible Promissory Notes 63 | 50.00% |
Convertible Promissory Notes 64 | 20 |
Convertible Promissory Notes 65 | 224,000 |
Convertible Promissory Notes 66 | 100,000 |
Convertible Promissory Notes 67 | 12,000 |
Convertible Promissory Notes 68 | 112,000 |
Convertible Promissory Notes 69 | 112,000 |
Convertible Promissory Notes 70 | 561.36% |
Convertible Promissory Notes 71 | 50.00% |
Convertible Promissory Notes 72 | 20 |
Convertible Promissory Notes 73 | 50.00% |
Convertible Promissory Notes 74 | 20 |
Convertible Promissory Notes 75 | 224,000 |
Convertible Promissory Notes 76 | 100,000 |
Convertible Promissory Notes 77 | 12,000 |
Convertible Promissory Notes 78 | 112,000 |
Convertible Promissory Notes 79 | 112,000 |
Convertible Promissory Notes 80 | 561.36% |
Convertible Promissory Notes 81 | 50.00% |
Convertible Promissory Notes 82 | 20 |
Convertible Promissory Notes 83 | 50.00% |
Convertible Promissory Notes 84 | 20 |
Convertible Promissory Notes 85 | 224,000 |
Convertible Promissory Notes 86 | 500,000 |
Convertible Promissory Notes 87 | 250,000 |
Convertible Promissory Notes 88 | 250,000 |
Convertible Promissory Notes 89 | 15.00% |
Convertible Promissory Notes 90 | 227.33% |
Convertible Promissory Notes 91 | 50.00% |
Convertible Promissory Notes 92 | 20 |
Convertible Promissory Notes 93 | 50.00% |
Convertible Promissory Notes 94 | 20 |
Convertible Promissory Notes 95 | 500,000 |
Convertible Promissory Notes 96 | 1,563 |
Convertible Promissory Notes 97 | 250,000 |
Convertible Promissory Notes 98 | 18 |
Convertible Promissory Notes 99 | 1,500,000 |
Convertible Promissory Notes 100 | 540,540 |
Convertible Promissory Notes 101 | 0.185 |
Convertible Promissory Notes 102 | 263,158 |
Convertible Promissory Notes 103 | 0.19 |
Convertible Promissory Notes 104 | 297,619 |
Convertible Promissory Notes 105 | 0.168 |
Convertible Promissory Notes 106 | 400,000 |
Convertible Promissory Notes 107 | 0.125 |
Convertible Promissory Notes 108 | 334,821 |
Convertible Promissory Notes 109 | 0.224 |
Convertible Promissory Notes 110 | 3,632,433 |
Convertible Promissory Notes 111 | 0.185 |
Convertible Promissory Notes 112 | 2,777,778 |
Convertible Promissory Notes 113 | 0.09 |
Convertible Promissory Notes 114 | 94,594 |
Convertible Promissory Notes 115 | 1,126,054 |
Convertible Promissory Notes 116 | 50,000 |
Convertible Promissory Notes 117 | 50,595 |
Convertible Promissory Notes 118 | 48,000 |
Convertible Promissory Notes 119 | 75,000 |
Convertible Promissory Notes 120 | 368,333 |
Convertible Promissory Notes 121 | 3,632,433 |
Convertible Promissory Notes 122 | 2,375,052 |
Convertible Promissory Notes 123 | 0.19 |
Convertible Promissory Notes 124 | 83,546 |
Convertible Promissory Notes 125 | 540,540 |
Convertible Promissory Notes 126 | 1,293,717 |
Convertible Promissory Notes 127 | 0.04 |
Convertible Promissory Notes 128 | 2,432 |
Convertible Promissory Notes 129 | 0.70% |
Convertible Promissory Notes 130 | 1.65% |
Convertible Promissory Notes 131 | 5 |
Convertible Promissory Notes 132 | 0.00% |
Convertible Promissory Notes 133 | 0.12 |
Convertible Promissory Notes 134 | 0.31 |
Convertible Promissory Notes 135 | 485.00% |
Convertible Promissory Notes 136 | 489.00% |
Convertible Promissory Notes 137 | 476,585 |
Convertible Promissory Notes 138 | 62,826 |
Convertible Promissory Notes 139 | 3 |
Convertible Promissory Notes 140 | 1 |
Convertible Promissory Notes 141 | 18 |
Convertible Promissory Notes 142 | $91,972 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions 1 | $61,000 |
Related Party Transactions 2 | 9,000 |
Related Party Transactions 3 | 45,332 |
Related Party Transactions 4 | $45,332 |
Going_Concern_and_Liquidity_Co1
Going Concern and Liquidity Considerations (Narrative) (Details) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Going Concern And Liquidity Considerations 1 | $1,257,165 |
Going Concern And Liquidity Considerations 2 | $34,052,764 |
Commitments_Narrative_Details
Commitments (Narrative) (Details) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
D | |
M | |
Commitments 1 | 24 |
Commitments 2 | $120,000 |
Commitments 3 | 12 |
Commitments 4 | 100,000 |
Commitments 5 | 26,041 |
Commitments 6 | $0.96 |
Commitments 7 | 25,000 |
Commitments 8 | 150,000 |
Commitments 9 | 150,000 |
Commitments 10 | 12 |
Commitments 11 | 3,000 |
Commitments 12 | 40,323 |
Commitments 13 | $0.62 |
Commitments 14 | 25,000 |
Commitments 15 | 12,000 |
Commitments 16 | 8,000 |
Commitments 17 | 8,000 |
Commitments 18 | 8,333.33 |
Commitments 19 | 2,000 |
Commitments 20 | 10,000 |
Commitments 21 | 75.00% |
Commitments 22 | 1,500,000 |
Commitments 23 | 50,000 |
Commitments 24 | 10 |
Commitments 25 | 48,832 |
Commitments 26 | 950,000 |
Commitments 27 | 500,000 |
Commitments 28 | $500,000 |
Subsequent_Events_Narrative_De
Subsequent Events (Narrative) (Details) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2013 | |
USD ($) | CAD | |
D | ||
M | ||
Subsequent Events 1 | 51.00% | 51.00% |
Subsequent Events 2 | $150,000 | ' |
Subsequent Events 3 | 150,000 | ' |
Subsequent Events 4 | 150,000 | ' |
Subsequent Events 5 | 300,000 | ' |
Subsequent Events 6 | 150,000 | ' |
Subsequent Events 7 | 150,000 | ' |
Subsequent Events 8 | 450,000 | ' |
Subsequent Events 9 | 51.00% | 51.00% |
Subsequent Events 10 | ' | 10,000 |
Subsequent Events 11 | 10,170 | ' |
Subsequent Events 12 | ' | 300,000 |
Subsequent Events 13 | 291,000 | ' |
Subsequent Events 14 | ' | 150,000 |
Subsequent Events 15 | 5 | 5 |
Subsequent Events 16 | ' | 150,000 |
Subsequent Events 17 | 51.00% | 51.00% |
Subsequent Events 18 | 51.00% | 51.00% |
Subsequent Events 19 | 8.00% | 8.00% |
Subsequent Events 20 | 51.00% | 51.00% |
Subsequent Events 21 | 450,000 | ' |
Subsequent Events 22 | ' | 300,000 |
Subsequent Events 23 | 294,908 | ' |
Subsequent Events 24 | 49.00% | 49.00% |
Subsequent Events 25 | 420,000 | ' |
Subsequent Events 26 | 163,250 | 163,250 |
Subsequent Events 27 | 5.00% | 5.00% |
Subsequent Events 28 | 105,000 | ' |
Subsequent Events 29 | 70.00% | 70.00% |
Subsequent Events 30 | 870,000 | ' |
Subsequent Events 31 | 6 | 6 |
Subsequent Events 32 | 10.00% | 10.00% |
Subsequent Events 33 | 2,500 | 2,500 |
Subsequent Events 34 | 10,000 | ' |
Subsequent Events 35 | 66,667 | 66,667 |
Subsequent Events 36 | $0.12 | ' |
Subsequent Events 37 | 71,716 | 71,716 |
Subsequent Events 38 | $0.12 | ' |
Subsequent Events 39 | 1,300,000 | 1,300,000 |
Subsequent Events 40 | $0.05 | ' |
Subsequent Events 41 | 95,643 | 95,643 |
Subsequent Events 42 | $0.09 | ' |
Subsequent Events 43 | 20,000,000 | 20,000,000 |
Subsequent Events 44 | 501,355 | 501,355 |
Subsequent Events 45 | 1,387,500 | 1,387,500 |
Subsequent Events 46 | $0.04 | ' |
Subsequent Events 47 | $58,275 | ' |
Schedule_of_Equity_Issuances_D
Schedule of Equity Issuances (Details) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Capital Stock Schedule Of Equity Issuances 1 | $20,000,000 |
Capital Stock Schedule Of Equity Issuances 2 | 0.001 |
Capital Stock Schedule Of Equity Issuances 3 | 20,000 |
Capital Stock Schedule Of Equity Issuances 4 | 10,000,000 |
Capital Stock Schedule Of Equity Issuances 5 | 0.001 |
Capital Stock Schedule Of Equity Issuances 6 | 10,000 |
Capital Stock Schedule Of Equity Issuances 7 | 17,375,000 |
Capital Stock Schedule Of Equity Issuances 8 | 0.004 |
Capital Stock Schedule Of Equity Issuances 9 | 69,500 |
Capital Stock Schedule Of Equity Issuances 10 | 250,000 |
Capital Stock Schedule Of Equity Issuances 11 | 0.1 |
Capital Stock Schedule Of Equity Issuances 12 | 25,000 |
Capital Stock Schedule Of Equity Issuances 13 | 250,000 |
Capital Stock Schedule Of Equity Issuances 14 | 1 |
Capital Stock Schedule Of Equity Issuances 15 | 250,000 |
Capital Stock Schedule Of Equity Issuances 16 | 250,000 |
Capital Stock Schedule Of Equity Issuances 17 | 0.1 |
Capital Stock Schedule Of Equity Issuances 18 | 25,000 |
Capital Stock Schedule Of Equity Issuances 19 | 2,300,000 |
Capital Stock Schedule Of Equity Issuances 20 | 7.65 |
Capital Stock Schedule Of Equity Issuances 21 | 17,595,000 |
Capital Stock Schedule Of Equity Issuances 22 | 200,000 |
Capital Stock Schedule Of Equity Issuances 23 | 3.7 |
Capital Stock Schedule Of Equity Issuances 24 | 740,000 |
Capital Stock Schedule Of Equity Issuances 25 | 190,476 |
Capital Stock Schedule Of Equity Issuances 26 | 5.25 |
Capital Stock Schedule Of Equity Issuances 27 | 1,000,000 |
Capital Stock Schedule Of Equity Issuances 28 | 300,000 |
Capital Stock Schedule Of Equity Issuances 29 | 2.34 |
Capital Stock Schedule Of Equity Issuances 30 | 702,000 |
Capital Stock Schedule Of Equity Issuances 31 | 2,000,000 |
Capital Stock Schedule Of Equity Issuances 32 | 0.2925 |
Capital Stock Schedule Of Equity Issuances 33 | 585,000 |
Capital Stock Schedule Of Equity Issuances 34 | 610,795 |
Capital Stock Schedule Of Equity Issuances 35 | 0.352 |
Capital Stock Schedule Of Equity Issuances 36 | 215,000 |
Capital Stock Schedule Of Equity Issuances 37 | 323,637 |
Capital Stock Schedule Of Equity Issuances 38 | 0.81 |
Capital Stock Schedule Of Equity Issuances 39 | 262,146 |
Capital Stock Schedule Of Equity Issuances 40 | 300,000 |
Capital Stock Schedule Of Equity Issuances 41 | 1.06 |
Capital Stock Schedule Of Equity Issuances 42 | 318,000 |
Capital Stock Schedule Of Equity Issuances 43 | 26,041 |
Capital Stock Schedule Of Equity Issuances 44 | 0.96 |
Capital Stock Schedule Of Equity Issuances 45 | 25,000 |
Capital Stock Schedule Of Equity Issuances 46 | 40,323 |
Capital Stock Schedule Of Equity Issuances 47 | 0.62 |
Capital Stock Schedule Of Equity Issuances 48 | 25,000 |
Capital Stock Schedule Of Equity Issuances 49 | 1,504,415 |
Capital Stock Schedule Of Equity Issuances 50 | 0.1925 |
Capital Stock Schedule Of Equity Issuances 51 | 289,600 |
Capital Stock Schedule Of Equity Issuances 52 | 815,047 |
Capital Stock Schedule Of Equity Issuances 53 | 0.1595 |
Capital Stock Schedule Of Equity Issuances 54 | 130,000 |
Capital Stock Schedule Of Equity Issuances 55 | 1,581,028 |
Capital Stock Schedule Of Equity Issuances 56 | 0.1265 |
Capital Stock Schedule Of Equity Issuances 57 | 200,000 |
Capital Stock Schedule Of Equity Issuances 58 | -20,000,000 |
Capital Stock Schedule Of Equity Issuances 59 | 0.001 |
Capital Stock Schedule Of Equity Issuances 60 | -20,000 |
Capital Stock Schedule Of Equity Issuances 61 | 62,500 |
Capital Stock Schedule Of Equity Issuances 62 | 0.24 |
Capital Stock Schedule Of Equity Issuances 63 | 15,000 |
Capital Stock Schedule Of Equity Issuances 64 | 41,667 |
Capital Stock Schedule Of Equity Issuances 65 | 0.24 |
Capital Stock Schedule Of Equity Issuances 66 | 10,000 |
Capital Stock Schedule Of Equity Issuances 67 | 949,171 |
Capital Stock Schedule Of Equity Issuances 68 | 0.117 |
Capital Stock Schedule Of Equity Issuances 69 | 111,053 |
Capital Stock Schedule Of Equity Issuances 70 | 55,556 |
Capital Stock Schedule Of Equity Issuances 71 | 0.27 |
Capital Stock Schedule Of Equity Issuances 72 | 15,000 |
Capital Stock Schedule Of Equity Issuances 73 | 38,462 |
Capital Stock Schedule Of Equity Issuances 74 | 0.26 |
Capital Stock Schedule Of Equity Issuances 75 | 10,000 |
Capital Stock Schedule Of Equity Issuances 76 | 55,556 |
Capital Stock Schedule Of Equity Issuances 77 | 0.27 |
Capital Stock Schedule Of Equity Issuances 78 | 15,000 |
Capital Stock Schedule Of Equity Issuances 79 | 40,000 |
Capital Stock Schedule Of Equity Issuances 80 | 0.25 |
Capital Stock Schedule Of Equity Issuances 81 | 10,000 |
Capital Stock Schedule Of Equity Issuances 82 | 1,028,113 |
Capital Stock Schedule Of Equity Issuances 83 | 0.25 |
Capital Stock Schedule Of Equity Issuances 84 | 257,028 |
Capital Stock Schedule Of Equity Issuances 85 | 78,947 |
Capital Stock Schedule Of Equity Issuances 86 | 0.19 |
Capital Stock Schedule Of Equity Issuances 87 | 15,000 |
Capital Stock Schedule Of Equity Issuances 88 | 41,667 |
Capital Stock Schedule Of Equity Issuances 89 | 0.24 |
Capital Stock Schedule Of Equity Issuances 90 | 10,000 |
Capital Stock Schedule Of Equity Issuances 91 | 2,000,000 |
Capital Stock Schedule Of Equity Issuances 92 | 0.077 |
Capital Stock Schedule Of Equity Issuances 93 | 154,000 |
Capital Stock Schedule Of Equity Issuances 94 | 48,387 |
Capital Stock Schedule Of Equity Issuances 95 | 0.31 |
Capital Stock Schedule Of Equity Issuances 96 | 15,000 |
Capital Stock Schedule Of Equity Issuances 97 | 25,806 |
Capital Stock Schedule Of Equity Issuances 98 | 0.31 |
Capital Stock Schedule Of Equity Issuances 99 | 8,000 |
Capital Stock Schedule Of Equity Issuances 100 | 2,000,000 |
Capital Stock Schedule Of Equity Issuances 101 | 0.077 |
Capital Stock Schedule Of Equity Issuances 102 | 154,000 |
Capital Stock Schedule Of Equity Issuances 103 | 47,619 |
Capital Stock Schedule Of Equity Issuances 104 | 0.21 |
Capital Stock Schedule Of Equity Issuances 105 | 10,000 |
Capital Stock Schedule Of Equity Issuances 106 | 38,876 |
Capital Stock Schedule Of Equity Issuances 107 | 0.2315 |
Capital Stock Schedule Of Equity Issuances 108 | 9,000 |
Capital Stock Schedule Of Equity Issuances 109 | 95,238 |
Capital Stock Schedule Of Equity Issuances 110 | 0.21 |
Capital Stock Schedule Of Equity Issuances 111 | 20,000 |
Capital Stock Schedule Of Equity Issuances 112 | 2,000,000 |
Capital Stock Schedule Of Equity Issuances 113 | 0.095 |
Capital Stock Schedule Of Equity Issuances 114 | 190,000 |
Capital Stock Schedule Of Equity Issuances 115 | 389,189 |
Capital Stock Schedule Of Equity Issuances 116 | 0.185 |
Capital Stock Schedule Of Equity Issuances 117 | 72,000 |
Capital Stock Schedule Of Equity Issuances 118 | 71,429 |
Capital Stock Schedule Of Equity Issuances 119 | 0.21 |
Capital Stock Schedule Of Equity Issuances 120 | 15,000 |
Capital Stock Schedule Of Equity Issuances 121 | 38,095 |
Capital Stock Schedule Of Equity Issuances 122 | 0.21 |
Capital Stock Schedule Of Equity Issuances 123 | 8,000 |
Capital Stock Schedule Of Equity Issuances 124 | 50,000 |
Capital Stock Schedule Of Equity Issuances 125 | 0.2 |
Capital Stock Schedule Of Equity Issuances 126 | 10,000 |
Capital Stock Schedule Of Equity Issuances 127 | 100,000 |
Capital Stock Schedule Of Equity Issuances 128 | 0.2 |
Capital Stock Schedule Of Equity Issuances 129 | 20,000 |
Capital Stock Schedule Of Equity Issuances 130 | 57,007 |
Capital Stock Schedule Of Equity Issuances 131 | 0.2105 |
Capital Stock Schedule Of Equity Issuances 132 | 12,000 |
Capital Stock Schedule Of Equity Issuances 133 | 2,000,000 |
Capital Stock Schedule Of Equity Issuances 134 | 0.0805 |
Capital Stock Schedule Of Equity Issuances 135 | 161,000 |
Capital Stock Schedule Of Equity Issuances 136 | 300,000 |
Capital Stock Schedule Of Equity Issuances 137 | 0.18 |
Capital Stock Schedule Of Equity Issuances 138 | 54,000 |
Capital Stock Schedule Of Equity Issuances 139 | 47,059 |
Capital Stock Schedule Of Equity Issuances 140 | 0.17 |
Capital Stock Schedule Of Equity Issuances 141 | 8,000 |
Capital Stock Schedule Of Equity Issuances 142 | 2,000,000 |
Capital Stock Schedule Of Equity Issuances 143 | 0.075 |
Capital Stock Schedule Of Equity Issuances 144 | 150,000 |
Capital Stock Schedule Of Equity Issuances 145 | 113,636 |
Capital Stock Schedule Of Equity Issuances 146 | 0.176 |
Capital Stock Schedule Of Equity Issuances 147 | 20,000 |
Capital Stock Schedule Of Equity Issuances 148 | 70,588 |
Capital Stock Schedule Of Equity Issuances 149 | 0.17 |
Capital Stock Schedule Of Equity Issuances 150 | 12,000 |
Capital Stock Schedule Of Equity Issuances 151 | 2,400,000 |
Capital Stock Schedule Of Equity Issuances 152 | 0.075 |
Capital Stock Schedule Of Equity Issuances 153 | 180,000 |
Capital Stock Schedule Of Equity Issuances 154 | 50,000 |
Capital Stock Schedule Of Equity Issuances 155 | 0.16 |
Capital Stock Schedule Of Equity Issuances 156 | 8,000 |
Capital Stock Schedule Of Equity Issuances 157 | 142,857 |
Capital Stock Schedule Of Equity Issuances 158 | 0.14 |
Capital Stock Schedule Of Equity Issuances 159 | 20,000 |
Capital Stock Schedule Of Equity Issuances 160 | 88,235 |
Capital Stock Schedule Of Equity Issuances 161 | 0.136 |
Capital Stock Schedule Of Equity Issuances 162 | 12,000 |
Capital Stock Schedule Of Equity Issuances 163 | 80,000 |
Capital Stock Schedule Of Equity Issuances 164 | 0.1 |
Capital Stock Schedule Of Equity Issuances 165 | 8,000 |
Capital Stock Schedule Of Equity Issuances 166 | 37,594 |
Capital Stock Schedule Of Equity Issuances 167 | 0.133 |
Capital Stock Schedule Of Equity Issuances 168 | 5,000 |
Capital Stock Schedule Of Equity Issuances 169 | 954,461 |
Capital Stock Schedule Of Equity Issuances 170 | 0.0825 |
Capital Stock Schedule Of Equity Issuances 171 | 105,410 |
Capital Stock Schedule Of Equity Issuances 172 | 2,000,000 |
Capital Stock Schedule Of Equity Issuances 173 | 0.045 |
Capital Stock Schedule Of Equity Issuances 174 | 138,462 |
Capital Stock Schedule Of Equity Issuances 175 | 181,818 |
Capital Stock Schedule Of Equity Issuances 176 | 0.11 |
Capital Stock Schedule Of Equity Issuances 177 | 20,000 |
Capital Stock Schedule Of Equity Issuances 178 | 54,545 |
Capital Stock Schedule Of Equity Issuances 179 | 0.11 |
Capital Stock Schedule Of Equity Issuances 180 | 6,000 |
Capital Stock Schedule Of Equity Issuances 181 | 48,485 |
Capital Stock Schedule Of Equity Issuances 182 | 0.165 |
Capital Stock Schedule Of Equity Issuances 183 | 8,000 |
Capital Stock Schedule Of Equity Issuances 184 | 46,997 |
Capital Stock Schedule Of Equity Issuances 185 | 0.1454 |
Capital Stock Schedule Of Equity Issuances 186 | 6,833 |
Capital Stock Schedule Of Equity Issuances 187 | 1,585,714 |
Capital Stock Schedule Of Equity Issuances 188 | 0.0735 |
Capital Stock Schedule Of Equity Issuances 189 | 163,693 |
Capital Stock Schedule Of Equity Issuances 190 | 844,300 |
Capital Stock Schedule Of Equity Issuances 191 | 0.0525 |
Capital Stock Schedule Of Equity Issuances 192 | 68,194 |
Capital Stock Schedule Of Equity Issuances 193 | 28,736 |
Capital Stock Schedule Of Equity Issuances 194 | 0.2088 |
Capital Stock Schedule Of Equity Issuances 195 | 6,000 |
Capital Stock Schedule Of Equity Issuances 196 | 57,469 |
Capital Stock Schedule Of Equity Issuances 197 | 0.145 |
Capital Stock Schedule Of Equity Issuances 198 | 8,333 |
Capital Stock Schedule Of Equity Issuances 199 | 61,069 |
Capital Stock Schedule Of Equity Issuances 200 | 0.131 |
Capital Stock Schedule Of Equity Issuances 201 | 8,000 |
Capital Stock Schedule Of Equity Issuances 202 | 2,375,052 |
Capital Stock Schedule Of Equity Issuances 203 | 0.19 |
Capital Stock Schedule Of Equity Issuances 204 | 446,789 |
Capital Stock Schedule Of Equity Issuances 205 | 48,702 |
Capital Stock Schedule Of Equity Issuances 206 | 0.1232 |
Capital Stock Schedule Of Equity Issuances 207 | 6,000 |
Capital Stock Schedule Of Equity Issuances 208 | 1,400,000 |
Capital Stock Schedule Of Equity Issuances 209 | 0.045 |
Capital Stock Schedule Of Equity Issuances 210 | 96,923 |
Capital Stock Schedule Of Equity Issuances 211 | 1,293,717 |
Capital Stock Schedule Of Equity Issuances 212 | 0.04 |
Capital Stock Schedule Of Equity Issuances 213 | 56,486 |
Capital Stock Schedule Of Equity Issuances 214 | 65,981,081 |
Capital Stock Schedule Of Equity Issuances 215 | $25,414,450 |
Schedule_of_Stockholders_Equit
Schedule of Stockholders' Equity Warrants Activity (Details) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Y | |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 1 | $5,133,750 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 2 | 0.18 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 3 | 4.71 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 4 | 3,112,599 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 5 | 0.104 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 6 | 4.95 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 7 | -4,172,973 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 8 | 0.185 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 9 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 10 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 11 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 12 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 13 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 14 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 15 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 16 | $4,073,376 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 17 | 0.117 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 18 | 4.89 |