Capital Stock | 9 Months Ended |
Mar. 31, 2015 |
Capital Stock [Text Block] | 3. Capital Stock |
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On January 19, 2015, the Company's board of directors consented to effect a reverse stock split of the Company’s issued and outstanding shares of common stock on a basis of 20 old shares of common stock for one 1 new share of common stock. The reverse stock split was reviewed and approved for filing by the FNRA effective February 25, 2015. The Company’s authorized capital will not be affected by the reverse stock split. The split is reflected retrospectively in the accompanying financial statements. |
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Authorized Stock |
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At inception, the Company authorized 100,000,000 common shares and 100,000,000 preferred shares, both with a par value of $0.001 per share. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought. |
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Effective April 8, 2009, the Company increased the number of authorized shares to 600,000,000 shares, of which 500,000,000 shares are designated as common stock par value $0.001 per share, and 100,000,000 shares are designated as preferred stock, par value $0.001 per share. |
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On October 25, 2012, the Company designated 20,000,000 series A convertible preferred stock with a par value of $0.001 per share and stated value of $100 per share. The designated preferred stock is convertible at the option of the holder, at any time beginning one year from the date such shares are issued, into common stock of the Company with a par value of $0.001. All shares of common stock of the Company, shall be of junior rank to all series A preferred stock in respect to the preferences as to distributions and payments upon the liquidation, dissolution and winding up of the Company. All other shares of preferred stock shall be of junior rank to all series A preferred shares in respect to the preferences as to distributions and payments upon the liquidation, dissolution and winding up of the Company. |
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On January 3, 2014, the Company designated 2,000,000 series B convertible preferred stock with a par value $0.001 per share, issuable only in consideration of the extinguishment of existing debt convertible in to the Company’s common stock with a par value of $0.001. The designated preferred stock shall be issued on the basis of 1 preferred stock for each $1 of convertible debt. The series B convertible preferred stock shall be subordinate to and rank junior to all indebtedness of the Company now or hereafter outstanding. |
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On October 17, 2014, the Company amended its Articles of Incorporation, which amendment was filed with the Nevada Secretary of State on October 17, 2014, to increase the authorized capital of its common shares from 500,000,000 common shares, par value $0.001 to 2,000,000,000 common shares, par value $0.001. The Company's authorized capital consists of 2,000,000,000 common shares and 100,000,000 preferred shares, all with a par value of$0.001. |
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Share Issuances |
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Common Stock Issuance |
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For the period ended March 31, 2015: |
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On July 1, 2014, the Company issued 9,978 common shares at a market price of $1.00 per share for consulting fees. |
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On July 4, 2014, the Company issued 27,076 common shares at a market price of $1.20 per share for consulting fees. |
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On July 9, 2014, the Company issued 485,700 common shares at a deemed price of $0.20 per share for warrants exercise of $117,962 (Note 6). |
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On July 16, 2014, the Company issued 90,000 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $46,769 (Note 6). |
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On July 30, 2014, the Company issued 905,683 common shares at a deemed price of $0.40 per share for warrants exercise of $386,433 (Note 6). |
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On August 1, 2014, the Company issued 53,134 common shares at a deemed price of $0.40 per share for promissory note and interest conversion of $25,000 (Note 6). |
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On August 1, 2014, the Company issued 12,262 common shares at a market price of $0.04 per share for consulting fees. |
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On August 5, 2014, the Company issued 1,032,273 common shares at a deemed price of $0.04 per share for warrants exercise of $41,244 (Note 6). |
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On August 8, 2014, the Company issued 445,228 common shares at a deemed price of $0.40 per share for warrants exercise of $136,555 (Note 6). |
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On August 12, 2014, the Company issued 160,003 common shares at a deemed price of $0.40 per share for warrants exercise of $59,953 (Note 6). |
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On August 28, 2014, the Company issued 519,527 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $205,984 (Note 6). |
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On September 1, 2014, the Company issued 17,510 common shares at a market price of $0.03 per share for consulting fees. |
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On September 1, 2014, the Company issued 58,366 common shares at a market price of $0.03 per share for consulting fees. |
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On September 3, 2014, the Company issued 150,000 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $42,135 (Note 6). |
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On September 3, 2014, the Company issued 25,000 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $9,717 (Note 6). |
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On September 4, 2014, the Company issued 45,455 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $20,000 (Note 6). |
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On September 4, 2014, the Company issued 29,167 common shares at a deemed price of $1.60 per share for warrants exercise of $2,322 (Note 6). |
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On September 8, 2014, the Company issued 55,314 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $20,510 (Note 6). |
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On September 10, 2014, the Company issued 336,712 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $62,375 (Note 6). |
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On September 10, 2014, the Company issued 76,923 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $20,000 (Note 6). |
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On September 11, 2014, the Company issued 130,386 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $30,777 (Note 6). |
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On September 11, 2014, the Company issued 279,951 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $39,712 (Note 6). |
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On September 11, 2014, the Company issued 82,645 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $20,000 (Note 6). |
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On September 12, 2014, the Company issued 495,050 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $100,000 (Note 6). |
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On September 12, 2014, the Company issued 143,462 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $30,781 (Note 6). |
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On September 15, 2014, the Company issued 279,208 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $54,804 (Note 6). |
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On September 15, 2014, the Company issued 95,716 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $20,529 (Note 6). |
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On September 15, 2014, the Company issued 547,348 common shares at a deemed price of $0.04 per share for warrants exercise of $22,207 (Note 6). |
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On September 16, 2014, the Company issued 190,515 common shares at a deemed price of $0.20 per share for promissory note and interest conversion of $40,447 (Note 6). |
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On September 17, 2014, the Company issued 70,707 common shares at a deemed price of $0.10 per share for promissory note and interest conversion of $14,000 (Note 6). |
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On September 23, 2014, the Company issued 73,894 common shares at a deemed price of $0.06 per share for promissory note and interest conversion of $9,311 (Note 6). |
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On September 23, 2014, the Company issued 192,308 common shares at a deemed price of $0.06 per share for promissory note and interest conversion of $25,000 (Note 6). |
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On September 23, 2014, the Company issued 90,909 common shares at a deemed price of $0.06 per share for promissory note and interest conversion of $7,692 (Note 6). |
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On September 23, 2014, the Company issued 500,000 common shares at a deemed price of $0.06 per share for promissory note and interest conversion of $55,000 (Note 6). |
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On September 24, 2014, the Company issued 454,545 common shares at a deemed price of $0.06 per share for promissory note and interest conversion of $48,585 (Note 6). |
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On September 29, 2014, the Company issued 302,387 common shares at a deemed price of $0.06 per share for promissory note and interest conversion of $37,050 (Note 6). |
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On September 29, 2014, the Company issued 250,000 common shares at a deemed price of $0.06 per share for promissory note and interest conversion of $31,500 (Note 6). |
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On October 1, 2014, the Company issued 12,048 common shares at a market price of $0.01 per share for consulting fees. |
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On October 2, 2014, the Company issued 227,273 common shares at a deemed price of $0.06 per share for promissory note and interest conversion of $24,292 (Note 6). |
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On October 3, 2014, the Company issued 500,000 common shares at a deemed price of $0.06 per share for promissory note and interest conversion of $38,462 (Note 6). |
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On October 6, 2014, the Company issued 500,000 common shares at a deemed price of $0.06 per share for promissory note and interest conversion of $38,462 (Note 6). |
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On October 7, 2014, the Company issued 550,000 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $37,231 (Note 6). |
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On October 9, 2014, the Company issued 333,333 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $30,000 (Note 6). |
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On October 13, 2014, the Company issued 681,818 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $46,154 (Note 6). |
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On October 13, 2014, the Company issued 534,091 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $45,669 (Note 6). |
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On October 16, 2014, the Company issued 365,854 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $30,000 (Note 6). |
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On October 20, 2014, the Company issued 555,556 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $38,867 (Note 6). |
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On October 21, 2014, the Company issued 500,000 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $29,150 (Note 6). |
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On October 21, 2014, the Company issued 1,000,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $44,615 (Note 6). |
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On October 22, 2014, the Company issued 381,549 common shares at a market price of $0.06 per share for consulting fees. |
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On October 22, 2014, the Company issued 950,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $38,694 (Note 6). |
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On October 22, 2014, the Company issued 100,000 common shares at a market price of $0.06 per share for investor relations fees. |
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On October 23, 2014, the Company issued 294,118 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $20,000 (Note 6). |
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On October 24, 2014, the Company issued 441,176 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $30,000 (Note 6). |
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On October 27, 2014, the Company issued 1,100,415 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $66,113 (Note 6). |
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On October 27, 2014, the Company issued 1,000,000 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $58,301 (Note 6). |
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On October 27, 2014, the Company issued 750,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $43,500 (Note 6). |
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On October 27, 2014, the Company issued 167,288 common shares at a deemed price of $0.04 per share for promissory note and interest conversion of $7,948 (Note 6). |
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On October 27, 2014, the Company issued 1,135,655 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $62,934 (Note 6). |
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On October 31, 2014, the Company issued 750,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $26,538 (Note 6). |
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On October 31, 2014, the Company issued 625,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $30,000 (Note 6). |
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On November 3, 2014, the Company issued 750,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $34,500 (Note 6). |
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On November 4, 2014, the Company issued 869,565 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $38,867 (Note 6). |
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On November 6, 2014, the Company issued 995,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $28,578 (Note 6). |
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On November 10, 2014, the Company issued 990,476 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $32,000 (Note 6). |
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On November 13, 2014, the Company issued 1,000,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $27,692 (Note 6). |
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On November 14, 2014, the Company issued 1,052,632 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $40,000 (Note 6). |
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On November 17, 2014, the Company issued 789,474 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $30,000 (Note 6). |
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On November 18, 2014, the Company issued 1,282,051 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $30,769 (Note 6). |
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On November 18, 2014, the Company issued 1,438,673 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $47,335 (Note 6). |
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On November 19, 2014, the Company issued 1,700,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $37,202 (Note 6). |
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On December 1, 2014, the Company issued 1,500,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $32,308 (Note 6). |
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On December 3, 2014, the Company issued 1,071,429 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $17,500 (Note 6). |
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On December 4, 2014, the Company issued 1,500,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $34,980 (Note 6). |
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On December 5, 2014, the Company issued 1,363,636 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $29,150 (Note 6). |
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On December 5, 2014, the Company issued 1,500,000 common shares at a deemed price of $0.02 per share for promissory note and interest conversion of $23,077 (Note 6). |
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On December 8, 2014, the Company issued 1,333,333 common shares at a deemed price of $0.01 per share for promissory note and interest conversion of $23,320 (Note 6). |
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On December 8, 2014, the Company issued 1,750,000 common shares at a deemed price of $0.008 per share for promissory note and interest conversion of $18,846 (Note 6). |
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On December 9, 2014, the Company issued 1,285,714 common shares at a deemed price of $0.008 per share for promissory note and interest conversion of $17,498 (Note 6). |
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On December 10, 2014, the Company issued 2,250,000 common shares at a deemed price of $0.006 per share for promissory note and interest conversion of $20,769 (Note 6). |
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On December 10, 2014, the Company issued 2,415,000 common shares at a deemed price of $0.006 per share for promissory note and interest conversion of $19,818 (Note 6). |
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On December 10, 2014, the Company issued 1,700,000 common shares at a deemed price of $0.006 per share for promissory note and interest conversion of $20,400 (Note 6). |
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On December 11, 2014, the Company issued 1,694,560 common shares at a deemed price of $0.008 per share for promissory note and interest conversion of $22,862 (Note 6). |
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On December 12, 2014, the Company issued 3,722,374 common shares at a deemed price of $0.006 per share for promissory note and interest conversion of $42,334 (Note 6). |
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On December 15, 2014, the Company issued 2,500,000 common shares at a deemed price of $0.006 per share for promissory note and interest conversion of $23,077 (Note 6). |
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On December 16, 2014, the Company issued 1,857,143 common shares at a deemed price of $0.008 per share for promissory note and interest conversion of $13,000 (Note 6). |
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On December 17, 2014, the Company issued 3,085,000 common shares at a deemed price of $0.006 per share for promissory note and interest conversion of $25,317 (Note 6). |
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On December 17, 2014, the Company issued 2,520,000 common shares at a deemed price of $0.006 per share for promissory note and interest conversion of $29,120 (Note 6). |
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On December 18, 2014, the Company issued 3,000,000 common shares at a deemed price of $0.006 per share for promissory note and interest conversion of $27,692 (Note 6). |
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On March 11, 2015, the Company issued 2,004 common shares at a deemed price of $0.02 per share to the depository trust as a result of the reverse stock split. |
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On March 16, 2015, the Company issued 7,235,023 common shares at a deemed price of $0.04 per share for warrants exercise of $12,924 (Note 6). |
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On March 31, 2015, the Company issued 4,166,712 common shares at a deemed price of $0.12 per share for promissory note and interest conversion of $46,524 (Note 6). |
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As at March 31, 2015, 1,196,677 (June 30, 2014- 677,889) were issued to directors and officers of the Company. 925,802 (June 30, 2014- 925,802) were issued to independent investors. 43,619 (June 30, 2014- 43,619) were issued for mining expenses. 38,442 (June 30, 2014 – 38,442) were issued for related party consulting expenses. 147,430 (June 30, 2014 – 47,430) were issued for investor relation expenses. 10,000 (June 30, 2014- 10,000) were issued for debt settlement. 2,150,056 (June 30, 2014 – 2,150,056) were issued for debenture and interest conversion. 51,406 (June 30, 2014 – 51,406) were issued for exercise of warrants attached to convertible debentures. 70,091,388 (June 30, 2014 – 1,063,291) were issued for promissory note and interest conversions. 11,300,402 (June 30, 2014 – 459,977) were issued for exercise of warrants attached to convertible promissory notes. 47,723 (June 30, 2014 – 47,723) were issued for note payable conversion. 100,000 (June 30, 2014 - 100,000) were issued for a mining option settlement. 1,000,000 (June 30, 2014 - 1,000,000) were issued for the conversion of Series A Convertible Preferred shares. 5,982,272 (June 30, 2014 – 5,982,272) were issued for the conversion of Series B Convertible Preferred shares. 2,004 (June 30, 2014 – nil) were issued to depository trust as a result of the reverse stock split. The Company has no stock option plan, warrants or other dilutive securities, other than warrants issued to acquire 1,897,970 shares of the Company regarding convertible promissory notes (Note 6). |
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On January 3, 2014, the Company entered into a convertible debt settlement agreement with one investor. Pursuant to the terms of the agreement, the investor acquired 1,134,500 convertible Series B Preferred Shares to extinguish the balance of convertible debts with an aggregate principal amount of $1,134,500. The conversion price of the Series B Preferred Shares shall be 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 of the applicable convertible debt instrument of the Corporation from which the applicable Series B Preferred Shares were converted, or (ii) 50% of the lowest reported sale price for the 20 days prior to the conversion date of the Series B Preferred Shares. |
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As at June 30, 2014, all of the Series B Preferred Shares issued on the January 3, 2014 debt settlement agreement were converted into 2,982,271 common shares of the Company for a total fair value of $3,639,623 of which a gain of $331,127 was recorded. |