VNUE (VNUE) 10-Q 20 Jan 15 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Nov. 30, 2014	Jan. 19, 2015
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	30-Nov-14
Trading Symbol	tgri
Entity Registrant Name	Tierra Grande Resources Inc.
Entity Central Index Key	1376804
Current Fiscal Year End Date	-26
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		107,019,712
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Nov. 30, 2014	31-May-14
Current Assets
Cash	$5,667	$33,106
Subscription receivable	0	50,000
Total Assets	5,667	83,106
Current Liabilities
Accounts payable and accrued liabilities	8,267	27,997
Total Liabilities	8,267	27,997
Stockholders' (Deficit) Equity
Preferred Stock, 20,000,000 shares authorized, $0.0001 par value, None issued and outstanding	0	0
Common Stock, 750,000,000 shares authorized, $0.0001 par value 107,019,712 shares and 100,769,712 shares issued and outstanding, respectively	10,702	10,077
Additional Paid-in Capital	9,315,328	9,270,028
Deficit	-9,328,630	-9,224,996
Total Stockholders' (Deficit) Equity	-2,600	55,109
Total Liabilities and Stockholders' (Deficit) Equity	$5,667	$83,106

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets [Parenthetical] (USD $)	Nov. 30, 2014	31-May-14
Preferred Stock, shares authorized	20,000,000	20,000,000
Preferred Stock, par value (in dollars per share)	$0.00	$0.00
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, shares authorized	750,000,000	750,000,000
Common Stock, par value (in dollars per share)	$0.00	$0.00
Common Stock, shares issued	107,019,712	100,769,712
Common Stock, shares outstanding	107,019,712	100,769,712

Consolidated_Statements_of_Exp

Consolidated Statements of Expenses (USD $)	3 Months Ended		6 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Expenses
General and administrative	$10,235	$10,826	$46,354	$31,449
Exploration mineral property costs	0	65,009	0	65,009
Professional fees	18,128	18,416	57,280	23,852
Total Expenses	28,363	94,251	103,634	120,310
Net Loss	($28,363)	($94,251)	($103,634)	($120,310)
Net Loss Per Share - Basic and Diluted	$0	$0	$0	$0
Weighted Average Shares Outstanding	107,019,712	88,572,000	103,921,000	83,644,000

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
Operating Activities
Net loss	($103,634)	($120,310)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization	0	478
Shares issued for services	25,925	0
Changes in operating assets and liabilities
Accounts payable and accrued liabilities	-19,730	72,327
Prepaid expenses and other current assets	0	-300
Net Cash Used in Operating Activities	-97,439	-47,805
Financing Activities
Proceeds from the issuance of common stock	70,000	140,000
Net Cash Provided by Financing Activities	70,000	140,000
(Decrease) Increase In Cash	-27,439	92,195
Cash - Beginning of Period	33,106	39,983
Cash - End of Period	5,667	132,178
Supplemental Disclosures:
Interest paid	0	0
Income tax paid	$0	$0

Nature_of_Operations_and_Conti

Nature of Operations and Continuance of Business	6 Months Ended
	Nov. 30, 2014
Nature of Operations and Continuance of Business [Text Block]	1	Nature of Operations and Continuance of Business
		The Company was incorporated in the State of Nevada on April 4, 2006. The Company’s principal business is the acquisition and exploration of mineral properties. Effective April 10, 2013, the Company changed its name from Buckingham Exploration Inc. to Tierra Grande Resources Inc. On August 9, 2010, the Company incorporated 0887717 B.C. Ltd., a wholly-owned subsidiary in British Columbia, Canada. On February 28, 2013, the Company acquired a 100% interest in Tierra Grande Resources, S.A.C. (“Tierra”), a company incorporated in Peru, in consideration for $10.

Going_Concern

Going Concern	6 Months Ended
	Nov. 30, 2014
Going Concern [Text Block]	2	Going Concern
		These consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has not generated revenues since inception and has not paid any dividends and is unlikely to pay dividends or generate earnings in the immediate or foreseeable future. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. As at November 30, 2014, the Company has working capital deficit of $2,600 and an accumulated deficit of $9,328,630. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
		As at November 30, 2014, the Company had $5,667 cash in the bank. The Company requires a minimum of $200,000 to proceed with their plan of operations over the next twelve months. If they achieve less than the full amount of financing that they require they will scale back planned exploration activities and day to day operations in order to reduce exploration expenses and general and administrative expenses to a level appropriate to the financial resources available. There can be no assurance that the Company will be able to raise sufficient funds to pay the expected operating expenses for the next twelve months.

Interim_Financial_Statements

Interim Financial Statements	6 Months Ended
	Nov. 30, 2014
Interim Financial Statements [Text Block]	3	Interim Financial Statements
		The unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Securities and Exchange Commission (“SEC”) Form 10-Q. They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Therefore, these unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended May 31, 2014, included in the Company’s Annual Report on Form 10-K filed on September 15, 2014 with the SEC.
		The financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Company’s financial position at November 30, 2014, and the results of its operations and cash flows for the three months and six months ended November 30, 2014 and 2013. The results of operations for the three months and six months ended November 30, 2014, are not necessarily indicative of the results to be expected for future quarters or the full year.
		The accompanying unaudited interim consolidated financial statements include the accounts of Tierra Grande Resources Inc. and its wholly owned subsidiaries 0887717 B.C. Ltd. and Tierra Grande Resources, S.A.C. All significant intercompany balances and transactions have been eliminated in the consolidation.

Related_Party_Transactions_and

Related Party Transactions and Balances	6 Months Ended
	Nov. 30, 2014
Related Party Transactions and Balances [Text Block]	4	Related Party Transactions and Balances
		On August 31, 2014, the Company issued an aggregate of 4,250,000 shares of common stock with a fair value of $25,925 to certain directors, officers and employees for agreeing to act as directors, officers or employees of the Company.

Common_Stock

Common Stock	6 Months Ended
	Nov. 30, 2014
Common Stock [Text Block]	5	Common Stock
		Common stock issued during the six months ended November 30, 2014:
		a)	On August 27, 2014, the Company issued 2,000,000 shares of common stock at $0.01 per share for proceeds of $20,000 under a private placement.
		b)	On August 31, 2014, the Company issued an aggregate of 4,250,000 shares of common stock with a fair value of $25,925 to certain directors, officers and employees for agreeing to act as directors, officers or employees of the Company.
		c)	During the six months ended November 30, 2014, the Company received $50,000 for the subscription receivable for previously issued shares.

Subsequent_Event

Subsequent Event	6 Months Ended
	Nov. 30, 2014
Subsequent Event [Text Block]	6	Subsequent Event
		On December 29, 2014, the directors of the Company authorized an increase in the Company’s authorized capital stock from 500,000,000 shares of common stock to 750,000,000 shares of common stock.

Nature_of_Operations_and_Conti1

Nature of Operations and Continuance of Business (Narrative) (Details) (USD $)	6 Months Ended
	Nov. 30, 2014
Nature Of Operations And Continuance Of Business 1	100.00%
Nature Of Operations And Continuance Of Business 2	$10

Going_Concern_Narrative_Detail

Going Concern (Narrative) (Details) (USD $)	6 Months Ended
	Nov. 30, 2014
Going Concern 1	$2,600
Going Concern 2	9,328,630
Going Concern 3	5,667
Going Concern 4	$200,000

Related_Party_Transactions_and1

Related Party Transactions and Balances (Narrative) (Details) (USD $)	6 Months Ended
	Nov. 30, 2014
Related Party Transactions And Balances 1	4,250,000
Related Party Transactions And Balances 2	$25,925

Common_Stock_Narrative_Details

Common Stock (Narrative) (Details) (USD $)	6 Months Ended
	Nov. 30, 2014
Common Stock 1	2,000,000
Common Stock 2	$0.01
Common Stock 3	$20,000
Common Stock 4	4,250,000
Common Stock 5	25,925
Common Stock 6	$50,000

Subsequent_Event_Narrative_Det

Subsequent Event (Narrative) (Details)	6 Months Ended
	Nov. 30, 2014
Subsequent Event 1	500,000,000
Subsequent Event 2	750,000,000