Creative Waste Solutions (CWSS) 10-Q 14 May 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Mar. 31, 2014	14-May-14
Document And Entity Information	'	'
Entity Registrant Name	'SILVERSTAR MINING CORP.	'
Entity Central Index Key	'0001385329	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--09-30	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	15,929,200
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Mar. 31, 2014	Sep. 30, 2013
Current Assets:	'	'
Cash and cash equivalents	$81	$5,869
Prepaid expense	9,000	249
Total current assets	9,081	6,118
Investment in mineral property	29,893	29,893
Total Assets	38,974	36,011
Current Liabilities:	'	'
Accounts payable and accrued expenses	106,089	42,866
Convertible debentures	104,666	201,807
Advances - related parties	11,344	6,655
Advances	96,151	'
Share issuance liability	'	88,125
Total current liabilities	318,250	339,453
Total liabilities	318,250	339,453
Stockholders' Equity (Deficit)	'	'
Common stock; $0.001 par value, 225,000,000 shares authorized, 12,959,200 and 299,429 shares issued and outstanding, respectively	12,959	299
Additional paid-in capital	1,784,791	1,615,425
Accumulated deficit	-2,077,026	-1,919,166
Total stockholders' deficit	-279,276	-303,442
Total Liabilities and Stockholders' Equity (Deficit)	$38,974	$36,011

Consolidated_Balance_Sheets_Un1

Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Mar. 31, 2014	Sep. 30, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	225,000,000	225,000,000
Common stock, shares issued	12,959,200	299,429
Common stock, shares outstanding	12,959,200	299,429

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended		124 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Operating Expenses:	'	'	'	'	'
Legal & accounting	$16,071	$18,304	$65,031	$44,667	$429,413
General and administrative	17,511	12,682	80,241	27,243	697,604
Amortization	'	78,917	'	78,917	'
Impairment loss	'	'	'	'	818,296
Loss from operations	-33,582	-109,903	-145,272	-150,827	-1,945,313
Other Income/(Expense)	'	'	'	'	'
Interest income	'	218	'	'	361
Interest expense	-5,394	-4,286	-12,588	-69,722	-133,057
Exchange gain	'	'	'	218	983
Total other income (expenses)	-5,394	-4,068	-12,588	-69,504	-131,713
Less non-controlling interest	'	-23,675	'	-23,675	'
Net loss	($38,976)	($90,296)	($157,860)	($196,656)	($2,077,026)
Net income(loss) per common share attributable to common stockholders (basic and diluted)	$0	($0.47)	($0.03)	($1.09)	'
Weighted average common shares outstanding (basic and diluted):	12,745,315	191,721	6,999,542	180,322	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended		124 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Cash flows from operating activities	'	'	'
Net loss	($157,860)	($196,656)	($2,077,026)
Adjustments to reconcile net loss to net cash provided by operating activities:	'	'	'
Amortization expense	'	78,917	'
Write down of mineral properties	'	'	811,696
Contribution to capital by related parties	'	12,000	215,500
Write down of web site	'	'	6,600
Changes in operating assets and liabilities	'	'	'
Accounts payable and accrued expense	49,177	-6,606	92,043
Accrued interest	11,431	7,222	69,053
Prepaids	-8,751	3,000	-9,000
Shares to be issued	-88,125	150,815	'
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	-194,128	25,017	-891,134
CASH FLOWS FROM INVESTING ACTIVITIES	'	'	'
Acquisition of mineral properties	'	-17,142	-191,489
Web site development	'	'	-6,600
NET CASH USED IN INVESTING ACTIVITIES	'	-17,142	-198,089
CASH FLOWS FROM FINANCING ACTIVITIES	'	'	'
Proceeds from the sale of common stock	'	'	736,380
Proceeds from conversion of warrants to stock	87,501	'	87,501
Costs for share issuance	'	'	-1,255
Proceeds from convertible notes	'	'	159,184
Proceeds from advances- related parity	11,344	'	17,999
Proceeds from advances	89,496	17,500	89,496
NET CASH PROVIDED BY FINANCING ACTIVITIES	188,341	17,500	1,089,305
Net increase (decrease) in cash	-5,787	25,375	'
Cash, beginning of period	5,869	558	'
Cash, end of period	81	25,933	81
SUPPLEMENTAL CASH FLOWS INFORMATION	'	'	'
Interest paid	'	'	'
Income taxes paid	'	'	'
NONCASH INVESTING AND FINANCING ACTIVITIES:	'	'	'
Common stock issued for debt	$94,525	'	$94,525

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	6 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization and Basis of Presentation	'
	NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION
	Silverstar Mining Corp. (the “Company”) was incorporated under the laws of the State of Nevada on December 5, 2003. On March 4, 2008, the Company completed a merger with its wholly-owned subsidiary, Silverstar Mining Corp., which was incorporated by the Company solely to effect the name change of the Company to Silverstar Mining Corp. The Company was incorporated for the purpose to promote and carry on any lawful business for which a corporation may be incorporated under the laws of the State of Nevada.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (SEC), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s September 30, 2013 Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year end September 30, as reported on Form 10-K, have been omitted.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates.
	Development Stage Company
	The Company has not earned any revenue from operations. Accordingly, the Company’s activities have been accounted for as those of a “Development Stage Company” as set forth in Financial Accounting Standards Board Statement Accounting Standards Codification (“ASC”) Topic 915. Among the disclosures required by ASC Topic 915 are that the Company’s financial statements be identified as those of a development stage company, and that the statement of operations, stockholders’ deficit and cash flows disclose activity since the date of the Company’s inception.
	Principles of Consolidation
	The consolidated financial statements of the Company include the Company and its wholly-owned and majority-owned subsidiaries. All material intercompany balances and transactions have been eliminated.
	The Company consolidates foreign subsidiary accounts by using the average of the exchange rate on the first day of the period being reported and the exchange rate on the last day of the same period for the translation of the income statement and the exchange rate on the closing date of the period for the translation of currency for the balance sheet.
	Cash and cash equivalents
	For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with a maturity of three months or less and money market accounts to be cash equivalents.
	Net loss per share of common stock
	Basic net loss per common share is computed by dividing net loss available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. The Company had no common stock equivalents and potentially dilutive securities outstanding during the period from December 5, 2003 (inception) through March 31, 2014.
	Recently Issued Accounting Pronouncements
	The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on their financial position, results of operations or cash flows.

Going_Concern

Going Concern	6 Months Ended
	Mar. 31, 2014
Going Concern	'
Going Concern	'
	NOTE 3 - GOING CONCERN
	As shown in the accompanying financial statements, Silverstar Mining has an accumulated deficit of $2,077,026 as of March 31, 2014 and incurred a net loss of $157,860 for the six months period ended March 31, 2014. Unless the Company is able to attain profitability and increases in stockholders’ equity continue, these conditions raise substantial doubt as to Silverstar Mining’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might be necessary if Silverstar Mining is unable to continue as a going concern.
	Silverstar Mining continues to review its expense structure reviewing costs and their reduction to move towards profitability. The Company’s expenses are planned to decrease as a percent of revenue resulting in profitability and increased shareholders’ equity.

Convertible_Debentures

Convertible Debentures	6 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Convertible Debentures	'
	NOTE 4 - CONVERTIBLE DEBENTURES
	On July 22, 2013 the Company entered into settlement agreements with all Demand Loan note holders converting the Demand Loans to Convertible Debentures with rights to convert any portion of the unpaid principle and/or accrued interest into restricted common shares of the Company at any time within forty-eight months from the settlement date. The Company may repay principal amounts due at any time without premium or penalty.
	On December 23, 2013 the Company converted $34,523 of convertible debt and interest into 12,416,670 shares of common stock.
	On March 19, 2014 the Company converted $60,002 of convertible debt and interest into 171,434 shares of common stock.
	As of March 31, 2014 the amount of convertible debt outstanding was $104,666 plus accrued interest of $14,064 for a total of $118,730.

Related_Parties

Related Parties	6 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Parties	'
	NOTE 5 - RELATED PARTIES
	On January 9, 2013 the Company issued 24,750 common shares to a note holder that was entitled to this amount of shares based on the terms pursuant to a note payable of $30,000. The Company was obligated to issue an additional 250 common shares to satisfy the terms of the note.
	On March 28, 2013 warrants to purchase 80,000 common shares were exercised by related parties yielding proceeds of $49,000 in cash received and a subscriptions receivable of $7,000.
	During the six month period ended March 31, 2013, an officer and director of the Company made contributions to capital for management fees in the amount of $9,000 and rent in the amount of $3,000 for a total of $12,000.
	During the six months ended March 31, 2014 an officer has advanced the Company $10,616. The advances do not have any repayment terms and are not interest bearing. As of March 31, 2014 the total advances by the officer was $11,344.

Equity

Equity	6 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Equity	'
	NOTE 6 - EQUITY
	On January 9, 2013 the Company issued 24,750 common shares to a note holder that was entitled to this amount of shares based on the terms pursuant to a note payable of $30,000. The Company was obligated to issue an additional 250 common shares to satisfy the terms of the note.
	On March 28, 2013 warrants to purchase 80,000 common shares were exercised by related parties yielding proceeds of $49,000 in cash received and a subscriptions receivable of $7,000.
	On December 23, 2013 the Company issued 12,416,670 shares of common stock with a value of $34,523 for debt.
	On March 19, 2014 the Company issued 171,434 shares of common stock with a value of $60,002 for debt.
	On March 26, 2014 the Company issued 71,667 shares of common stock with a value of $87,501 which was offset against the liability “shares to be issued “of $88,125. The difference of $624 was offset against interest expense.

Subsequent_Events

Subsequent Events	6 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	NOTE 7 - SUBSEQUENT EVENTS
	On April 20, 2014 the Company issued 3,000,000 shares of common stock for the conversion of convertible debt of $7,500.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates.
Development Stage Company	'
	Development Stage Company
	The Company has not earned any revenue from operations. Accordingly, the Company’s activities have been accounted for as those of a “Development Stage Company” as set forth in Financial Accounting Standards Board Statement Accounting Standards Codification (“ASC”) Topic 915. Among the disclosures required by ASC Topic 915 are that the Company’s financial statements be identified as those of a development stage company, and that the statement of operations, stockholders’ deficit and cash flows disclose activity since the date of the Company’s inception.
Principles of Consolidation	'
	Principles of Consolidation
	The consolidated financial statements of the Company include the Company and its wholly-owned and majority-owned subsidiaries. All material intercompany balances and transactions have been eliminated.
	The Company consolidates foreign subsidiary accounts by using the average of the exchange rate on the first day of the period being reported and the exchange rate on the last day of the same period for the translation of the income statement and the exchange rate on the closing date of the period for the translation of currency for the balance sheet.
Cash and Cash Equivalents	'
	Cash and cash equivalents
	For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with a maturity of three months or less and money market accounts to be cash equivalents.
Net loss per share of common stock	'
	Net loss per share of common stock
	Basic net loss per common share is computed by dividing net loss available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. The Company had no common stock equivalents and potentially dilutive securities outstanding during the period from December 5, 2003 (inception) through March 31, 2014.
Recently Issued Accounting Pronouncements	'
	Recently Issued Accounting Pronouncements
	The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on their financial position, results of operations or cash flows.

Going_Concern_Details_Narrativ

Going Concern (Details Narrative) (USD $)	3 Months Ended		6 Months Ended		124 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Sep. 30, 2013
Going Concern	'	'	'	'	'	'
Accumulated deficit	$2,077,026	'	$2,077,026	'	$2,077,026	$1,919,166
Net loss for the period	$38,976	$90,296	$157,860	$196,656	$2,077,026	'

Convertible_Debentures_Details

Convertible Debentures (Details Narrative) (USD $)	0 Months Ended		6 Months Ended
	Mar. 19, 2014	Dec. 23, 2013	Mar. 31, 2014	Sep. 30, 2013
Debt Disclosure [Abstract]	'	'	'	'
Conversion of convertible debt	$60,002	$34,523	'	'
Converstion of debt into common stock	171,434	12,416,670	'	'
Convertible debentures	'	'	104,666	201,807
Accrued interest	'	'	14,064	'
Outstanding convertible debt pluss interest	'	'	$118,730	'

Related_Parties_Details_Narrat

Related Parties (Details Narrative) (USD $)	0 Months Ended			6 Months Ended		124 Months Ended
	Mar. 26, 2014	Mar. 28, 2013	Jan. 09, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Sep. 30, 2013
Common shares issued, shares	71,667	'	24,750	'	'	'	'
Common shares issued	$87,501	'	$30,000	'	'	'	'
Additional common shares issued for notes	'	'	250	'	'	'	'
Warrants exercised to purchase of common stock, number	'	80,000	'	'	'	'	'
Warrants exercised to purchase of common stock	'	49,000	'	'	'	'	'
Subsciption receivable	'	7,000	'	'	'	'	'
Contributions to capital for management fees by officer and director	'	'	'	'	9,000	'	'
Contributions of rent by officer and director	'	'	'	'	3,000	'	'
Contribution to capital by related parties	'	'	'	'	12,000	215,500	'
Proceeds from advances- related parity	'	'	'	11,344	'	17,999	'
Advances - related parties	'	'	'	11,344	'	11,344	6,655
Officer [Member]	'	'	'	'	'	'	'
Proceeds from advances- related parity	'	'	'	10,616	'	'	'
Advances - related parties	'	'	'	$11,344	'	$11,344	'

Equity_Details_Narrative

Equity (Details Narrative) (USD $)	0 Months Ended
	Mar. 26, 2014	Mar. 19, 2014	Dec. 23, 2013	Mar. 28, 2013	Jan. 09, 2013
Equity Details Narrative	'	'	'	'	'
Common shares issued, shares	71,667	'	'	'	24,750
Common shares issued	$87,501	'	'	'	$30,000
Excess of stock issued for satisfy the terms of the note	'	'	'	'	250
Warrants exercised to purchase of common stock, number	'	'	'	80,000	'
Warrants exercised to purchase of common stock	'	'	'	49,000	'
Subsciption receivable	'	'	'	7,000	'
Common stock shares issued during period for debt	'	171,434	12,416,670	'	'
Common stock shares issued value during period for debt	'	60,002	34,523	'	'
Common stpck shares issued during period for offset against the liability	88,125	'	'	'	'
Offset against interest expense	$624	'	'	'	'

Subsequent_Events_Details_Narr

Subsequent Events (Details Narrative) (USD $)	0 Months Ended
	Mar. 19, 2014	Dec. 23, 2013	Apr. 20, 2014
			Subsequent Event [Member]
Converstion of debt into common stock	171,434	12,416,670	3,000,000
Conversion of convertible debt	$60,002	$34,523	$7,500