WestMountain Gold (WMTN) 10-Q 23 Jun 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Apr. 30, 2014	Jun. 19, 2014
Document And Entity Information	'	'
Entity Registrant Name	'WESTMOUNTAIN GOLD, INC.	'
Entity Central Index Key	'0001421601	'
Document Type	'10-Q	'
Document Period End Date	30-Apr-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--10-31	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	25,936,997
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Apr. 30, 2014	Oct. 31, 2013
ASSETS	'	'
Cash and cash equivalents	$61	$82,376
Prepaid expenses	9,861	6,355
Inventory	53,733	66,485
Total current assets	63,655	155,216
EQUIPMENT, NET	451,000	528,973
OTHER ASSETS	'	'
Contractual rights	800,000	800,000
Mining claims, net	1,947,003	11,820
Security deposits	2,050	5,250
TOTAL ASSETS	3,263,708	1,501,259
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Accounts payable	1,293,379	1,315,070
Accounts payable - related parties	818,972	697,127
Accrued expenses	25,349	216,078
Accrued Interest	818,384	394,274
Accrued expenses - related parties	232,649	57,000
Forward contract	523,920	794,760
Derivative liability - warrants	1,745,750	2,000,000
Promissory note	5,083,248	3,083,248
Total current liabilities	10,541,651	8,557,557
COMMITMENTS AND CONTINGENCIES	'	'
STOCKHOLDERS' DEFICIT	'	'
Preferred stock, $.10 par value; 987,900 shares authorized, 0 shares issued and outstanding at April 30, 2014 and October 31, 2013, respectively, Preferred Series A Convertible Stock, $0.10 par value;12,100 shares authorized 12,100 shares authorized, 12,100 shares issued and outstanding at April 30, 2014 and October 31, 2013, respectively	1,210	1,210
Common stock, $0.001 par value; 200,000,000 shares authorized, 25,936,997 and 24,659,832 shares issued and outstanding at April 30, 2014 and October 31, 2013, respectively	25,937	24,659
Additional paid in capital	12,107,954	10,608,128
Accumulated deficit	-19,413,044	-17,690,295
Total stockholders' deficit	-7,277,943	-7,056,298
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$3,263,708	$1,501,259

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Apr. 30, 2014	Oct. 31, 2013
Stockholders Equity	'	'
Preferred Stock shares par value	$0.10	$0.10
Preferred Stock shares Authorized	987,900	987,900
Preferred Stock shares Issued	0	0
Preferred Stock shares Outstanding	0	0
Preferred Stock shares par value, Series A	$0.10	$0.10
Preferred Stock shares Authorized, Series A	12,100	12,100
Preferred Stock shares Issued, Series A	12,100	12,100
Preferred Stock shares Outstanding, Series A	12,100	12,100
Common Stock shares par value	$0.00	$0.00
Common Stock shares Authorized	200,000,000	200,000,000
Common Stock shares Issued	25,936,997	24,659,832
Common Stock shares Outstanding	25,936,997	24,659,832

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended		49 Months Ended
	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014
Income Statement [Abstract]	'	'	'	'	'
Revenue	$127,953	$0	$204,250	$0	$298,483
Cost Of Sales	71,660	0	136,775	0	185,775
Gross Profit	56,293	0	67,475	0	112,708
Operating Expenses	'	'	'	'	'
Selling, General, And Administrative Expenses	312,468	333,900	729,581	700,757	6,915,517
Exploration Expense	21,282	324,390	70,610	876,172	6,664,154
Total Operating Expenses	333,750	658,290	800,191	1,576,929	13,579,671
Loss from operations	-277,457	-658,290	-732,716	-1,576,929	-13,466,963
Other Income (expense):	'	'	'	'	'
Interest income	11	0	11	0	11
Interest expense, net	-569,535	-354,576	-666,277	-427,041	-2,569,091
Consulting income - Terra Mining Corporation	0	0	0	0	50,400
Financing fee	-261	0	-228,238	0	-431,872
Merger expense	0	0	0	0	-900,000
Gain/(Loss) on change - derivative liability warrants	254,250	0	254,250	0	-1,745,750
Loss on settlement of forward contract	0	0	-349,779	0	-349,779
Total other income/(expense)	-315,535	-354,576	-990,033	-427,041	-5,946,081
Net loss before income taxes	-592,992	-1,012,866	-1,722,749	-2,003,970	-19,413,044
Income tax expense (benefit)	0	0	0	0	0
Net loss	($592,992)	($1,012,866)	($1,722,749)	($2,003,970)	($19,413,044)
Basic net loss per share	($0.02)	($0.04)	($0.07)	($0.09)	'
Diluted net loss per share	($0.02)	($0.04)	($0.07)	($0.09)	'
Basic weighted average common shares outstanding	25,660,593	23,862,343	25,376,403	23,078,264	'
Diluted weighted average common shares outstanding	25,660,593	23,862,343	25,376,403	23,078,264	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended		49 Months Ended
	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'	'
Net loss	($1,722,749)	($2,003,970)	($19,413,044)
Adjustments to reconcile net loss to net cash used in operating activities	'	'	'
Depreciation and amortization	78,790	66,078	325,501
Warrant amortization expense	0	13,333	1,279,137
Issuance of common stock and warrants for services and expenses	347,275	140,250	3,841,970
Loss on forward contract	94,080	284,580	288,840
Loss on settlement of forward contract	349,779	0	349,779
Gain(loss) on derivative liability financing	-254,250	0	1,745,750
Issuance of common stock for fees	227,977	0	227,977
Issuance of common stock pre-merger	0	0	48,202
Changes in operating assets and liabilities:	'	'	'
Prepaid expenses and other current assets	-3,506	-34,318	-68,887
Inventory	12,752	0	-53,733
Other assets	3,200	0	3,200
Accrued Interest	424,110	0	775,803
Accounts payable and accrued expenses	-137,420	147,531	2,232,542
Accounts payable and accrued liabilities - related parties	297,494	0	297,494
Net cash provided by operating activities	-282,468	-1,386,516	-8,119,469
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'	'
Capital expenditures	0	-252,250	-771,769
Cash acquired in merger	0	0	101,252
Contractual rights	0	-100,000	-400,000
Cash paid for mining claims	-1,800,000	0	-1,815,903
Net cash used in investing activities	-1,800,000	-352,250	-2,886,420
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'	'
Proceeds from promissory note	2,000,000	0	5,757,433
Forward contract	0	600,000	600,000
Cash repayment of forward contract	-100,000	0	-100,000
Repayment of debenture notes	0	-30,717	-630,000
Proceeds from demand promissory notes	0	0	550,000
Proceeds from the issuance of preferred stock	0	0	605,000
Proceeds from the issuance of common stock pre-merger	0	0	34,000
Proceeds from issuance of common stock	100,153	1,139,752	4,189,517
NET CASH PROVIDED BY FINANCING ACTIVITIES	2,000,153	1,709,035	11,005,950
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	-82,315	-29,731	61
CASH AND CASH EQUIVALENTS, beginning of period	82,376	88,870	0
CASH AND CASH EQUIVALENTS, end of period	61	59,139	61
Supplemental disclosures of cash flow information:	'	'	'
Interest paid	0	0	29,588
Taxes paid	0	0	0
WestMountain items acquired in merger:	'	'	'
Other current assets	0	0	44,670
Fixed assets	0	0	649
Accounts payable and other accrued liabilities	0	0	-86,815
Non-cash investing and financing activities:	'	'	'
Common stock issued in exchange for account payable	0	35,300	85,300
Stock issuance for contractual rights	0	0	400,000
Common stock issued for convertible notes	0	0	602,500
Equity issued for settlement of forward contract	264,920	0	264,920
Equity issued for mining claims	136,000	0	136,000
Equity issued for accounts payable	$75,000	$0	$75,000

1_BUSINESS

1. BUSINESS	6 Months Ended
	Apr. 30, 2014
Business	'
Business	'
	WestMountain Gold, Inc. (“WMTN” or the “Company”) is an exploration stage mining company, determined in accordance with applicable Securities and Exchange Commission (“SEC”) guidelines, which pursues gold projects that the Company anticipates will have low operating costs and high returns on capital.
	WMTN’s wholly owned subsidiary, Terra Gold Corporation (“TGC”), was a joint venture partner with Raven Gold Alaska, Inc. (“Raven”) through February 12, 2014 on a gold system project (“the TMC Project”). On February 12, 2014, the Company, through its wholly owned subsidiary, Terra Gold Corp, acquired 100% ownership interest in the TMC Project from Raven, which is a wholly owned subsidiary of Corvus Gold Inc. (TSX:KOR, OTCQX:CORVF) for $1.8 million in cash and 200,000 shares of WMTN. The Company has budgeted expenditures for the TMC Project for the next twelve months of approximately $2,900,000, depending on additional financing, for general and administrative expenses and exploration.
	The Company is currently focused on mineral production from mineralized material at this Project in the state of Alaska. The TMC Project consists of 344 Alaska state mining claims plus an additional 5 unpatented lode mining claims held under lease (subject to a 3-4% net smelter return (“NSR”) royalty to the lessor, dependent upon the gold price) covering 223 square kilometers (22,300 hectares). The property is centered on an 8-km-long (800 hectares) trend of gold vein occurrences.  All government permits and reclamation plans for continued exploration through 2013 were renewed and the fees to maintain the Terra claims through 2014 were paid by the Company. The property lies approximately 200 km (20,000 hectares) west-northwest of Anchorage and is accessible via helicopter or fixed-wing aircraft. The property has haul roads, a mill facility and adjoining camp infrastructure, a tailings pond and other infrastructure. The remote camp is powered by diesel powered generators and water is supplied to the mill by spring fed sources and year round water wells.
	The Company is considered an exploration stage company under SEC criteria because it has not demonstrated the existence of proven or probable reserves at the TMC Project. Accordingly, as required under SEC guidelines and U.S. GAAP for companies in the exploration stage, substantially all of our expenditures in the mining properties to date, including construction of the mill, mine facilities and exploration , have been expensed as incurred and therefore do not appear as assets on our balance sheet. We expect construction expenditures and underground mine exploration and capital improvements will continue during 2014 and subsequent years. We expect to remain as an exploration stage company for the foreseeable future. We will not exit the exploration stage until such time that we demonstrate the existence of proven or probable reserves that meet SEC guidelines. Likewise, unless mineralized material is classified as proven or probable reserves, substantially all expenditures for mine exploration and construction will continue to be expensed as incurred.
	As of April 30, 2014, we have $3,852,115 plus accrued interest of $761,878 due to BOCO Investments LLC on four secured promissory notes, all of which are in default. We do not have the ability to repay the amount due. On April 15, 2014, we entered into a Loan and Note Modification Agreement with BOCO pursuant to which BOCO agreed to convert up to $3,000,000 of this debt into the Company’s anticipated debt-equity offering and to extend the maturity date on the remaining debt, all conditioned upon the Company raising at least $3,000,000 in that debt-equity offering by April 30, 2014. On June 2, 2014, the Loan and Note Modification Agreement has been amended as the $3,000,000 debt-equity offering did not occur (see Note 10 below).
	The Company’s principal source of liquidity for the next several years will need to be the continued raising of capital through the issuance of equity or debt.  WMTN plans to raise funds for each step of the TMC Project and as each step is successfully completed, raise the capital for the next phase.  WMTN believes this will reduce the cost of capital as compared to trying to raise all the anticipated capital at once up front.  However, since WMTN’s ability to raise additional capital will be affected by many factors, most of which are not within our control (see “Risk Factors”), no assurance can be given that WMTN will in fact be able to raise the additional capital as it is needed.
	The Company may choose to scale back operations to operate at break-even with a smaller level of business activity, while adjusting overhead depending on the availability of additional financing. In addition, the Company expects that it will need to raise additional funds if the Company decides to pursue more rapid expansion, appropriate responses to competitive pressures, or the acquisition of complementary businesses or technologies, or if it must respond to unanticipated events that require it to make additional investments. The Company cannot assure that additional financing will be available when needed on favorable terms, or at all.

2_GOING_CONCERN

2. GOING CONCERN	6 Months Ended
	Apr. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
GOING CONCERN	'
	The Company’s independent registered public accounting firm has expressed substantial doubt about the Company’s ability to continue as a going concern as a result of its history of net loss. The Company’s ability to achieve and maintain profitability and positive cash flow is dependent upon our ability to successfully execute the plans to pursue the TMC Project as described in this Form 10-Q. The outcome of these matters cannot be predicted at this time. These consolidated financial statements do not include any adjustments to the amounts and classifications of assets and liabilities that might be necessary should the Company be unable to continue its business.
	UNAUDITED FINANCIAL STATEMENTS
	The accompanying unaudited consolidated financial statements of WMTN and its subsidiaries have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The financial statements for the periods April 30, 2014 and 2013 are unaudited and include all adjustments necessary to a fair statement of the results of operations for the periods then ended. All such adjustments are of a normal, recurring nature. The results of the Company’s operations for any interim period are not necessarily indicative of the results of the Company’s operations for a full fiscal year. For further information, refer to the financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2013 as filed with the Securities and Exchange Commission (the “SEC”) on February 13, 2014.

3_SUMMARY_OF_SIGNIFICANT_ACCOU

3. SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES	6 Months Ended
	Apr. 30, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Principles	'
	Accounting Method
	The Company’s consolidated financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.
	Principles of Consolidation
	These consolidated financial statements include the Company’s consolidated financial position, results of operations, and cash flows. All material intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements.
	Foreign Currency Translation
	The consolidated financial statements are presented in US dollars.
	Cash and Cash Equivalents
	The Company classifies highly liquid temporary investments with an original maturity of three months or less when purchased as cash equivalents. The Company maintains cash balances at various financial institutions. Balances at US banks are insured by the Federal Deposit Insurance Corporation up to $250,000. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risk for cash on deposit.  As of April 30, 2014, the Company had no uninsured cash amounts.
	Equipment
	Equipment consists of machinery, furniture and fixtures and software, which are stated at cost less accumulated depreciation and amortization. Depreciation is computed by the straight-line method over the estimated useful lives or lease period of the relevant asset, generally 3 -5 years.
	Metal and Other Inventory
	Inventories were $53,733 and $66,485 as of April 30, 2014 and October 31, 2013, respectively. Inventories include doré. All inventories are stated at the lower of cost or market, with cost being determined using a weighted average cost method. Metal inventory costs include direct labor, materials, depreciation, as well as administrative overhead costs relating to mining activities.
	Mineral Properties
	Costs of acquiring mineral properties are capitalized by project area upon purchase of the associated claims. Costs to maintain the mineral rights and leases are expensed as incurred.  When a property reaches the production stage, the related capitalized costs will be amortized, using the units of production method on the basis of periodic estimates of ore reserves.
	Mineral properties are periodically assessed for impairment of value and any diminution in value.
	The Company has access to the camp by airplane. There is no road access from the camp to the project area where drilling and bulk sampling mining occurs. It is approximately 1 1/2 miles from camp to the project area.  Power generation is by diesel generator at the camp. Fuel is brought in for the generators by a cargo plane to the airstrip.
	Long-Lived Assets
	The Company reviews its long-lived assets for impairment when changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Long-lived assets under certain circumstances are reported at the lower of carrying amount or fair value. Assets to be disposed of and assets not expected to provide any future service potential to the Company are recorded at the lower of carrying amount or fair value (less the projected cost associated with selling the asset). To the extent carrying values exceed fair values, an impairment loss is recognized in operating results.  As of April 30, 2014, there are no impairments recognized.
	Alaska Reclamation and Remediation Liabilities
	The Company operates in Alaska. The State of Alaska Department of Natural Resources requires a pool of funds from all permittees with exploration and mining projects to cover reclamation. There is a $750 per acre disturbance reclamation bond that is required for disturbance of 5 acres or more and/or removal of more than 50,000 cubic yards of material. The Company exceeded the minimum requirements in 2013 and posted a reclamation bond of $22,358 on December 23, 2013.  The amount was expensed as an exploration cost during the period.
	Fair Value Measurements
	ASC Topic 820, Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.  This topic also establishes a fair value hierarchy, which requires classification based on observable and unobservable inputs when measuring fair value.  The fair value hierarchy distinguishes between assumptions based on market data (observable inputs) and an entity’s own assumptions (unobservable inputs).  The hierarchy consists of three levels:
	Level 1 – Quoted prices in active markets for identical assets and liabilities;
	Level 2 – Inputs other than level one inputs that are either directly or indirectly observable; and
	Level 3 – Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.
	Liabilities measured at fair value on a recurring basis are summarized as follows:
		Fair Value Measurements Using Inputs								Carrying Amount at
	Financial Instruments	Level 1			Level 2			Level 3		April 30,
										2014
	Liabilities:
	Forward contract	$	-		$	523,920		$	-	$	523,920
	Derivative Instruments -Warrants	$	-		$	1,745,750		$	-	$	1,745,750
	Total	$	-		$	2,269,670		$	-	$	2,269,670
		Fair Value Measurements Using Inputs								Carrying Amount at
	Financial Instruments	Level 1			Level 2			Level 3		October 31,
										2013
	Liabilities:
	Forward contract	$	-		$	794,760		$	-	$	794,760
	Derivative Instruments -Warrants	$	-		$	2,000,000		$	-	$	2,000,000
	Total	$	-		$	2,794,760		$	-	$	2,794,760
	Market price and estimated fair value of common stock used to measure the Derivative Instruments-Warrants at April 30, 2014 and October 31, 2013:
	Expected term (years)
		April 30,			October 31,
		2014			2013
	Market price and estimated fair value of common stock:	$	0.74		$	1.06
	Exercise price	$	0.59		$	0.75
	Expected term (years)		4			4.8
	Dividend yield		-			-
	Expected volatility		184	%		112	%
	Risk-free interest rate		1.69	%		0.95	%
	The risk-free rate of return reflects the interest rate for the United States Treasury Note with similar time-to-maturity to that of the warrants.
	The recorded value of other financial assets and liabilities, which consist primarily of cash and cash equivalents, accounts receivable, other current assets, and accounts payable and accrued expenses approximate the fair value of the respective assets and liabilities at April 30, 2014 and October 31, 2013 based upon the short-term nature of the assets and liabilities.
	Derivative Instruments – Warrants
	In May and June 2013, the Company received a total of $1.0 million and entered into Promissory Notes, Security
	Agreement, Loan Agreement and Warrants to Purchase Stock Agreement (collectively, the “Transaction Documents”) with BOCO Investments LLC (“BOCO”).
	In addition, the Company issued Warrants to BOCO to purchase 2,500,000 shares of common stock at an exercise price that is the lesser of $0.75 per share or a price per share equal to eighty percent (80%) of the lowest price at which a common s hare in the Company has been issued in any round of financing commenced or closed after the date of the Warrants and prior to Holder’s exercise of its rights under the Warrants. The Warrants expire in 2018, five years from the issuance date. There are no registration requirements. The Trans action Documents place certain operating restrictions on the Company.
	These warrants were not issued with the intent of effectively hedging any future cash flow, fair value of any asset, liability or any net investment in a foreign operation.  Therefore, the fair value of these warrants were recorded as a liability in the consolidated balance sheet and are marked to market each reporting period until they are exercised or expire or otherwise extinguished.
	During the second quarter of 2014, the Company recognized $254,250 of other income resulting from the decrease in the fair value of the warrant liability at April 30, 2014, as the value changed from the prior quarter.
	Forward Sale and Loan Agreements
	On March 20, 2013, the Company entered into forward sale and loan agreements with three accredited investors for an aggregate loan of $600,000. The Company was required to tender no less than 600 ounces of gold in bar form to the three accredited investors by September 15, 2013, but defaulted on this obligation.
	On November 1, 2013, the Company settled with one of the parties that had a forward sale and loan agreement for 200 ounces of gold; the Company agreed to issue 310,000 shares of common stock valued at $1.08 per share at the time of issuance, or $334,800 and warrants for an additional 310,000 shares of common stock with an exercise price of $1.50 per share valued at $279,899, using the Black-Scholes method, in full settlement of all claims. The Company recorded a loss of $349,779 to settle this forward contract. As of the date of this filing, the Company is in default under the other agreements. One of the lenders, URenergy, LLC, obtained a judgment against the Company on March 31, 2014 for the amount of $204,143 plus attorneys’ fees and costs. Although the Company has attempted to negotiate a settlement of this judgment, no formal settlement agreement was reached and URenergy LLC has commenced proceedings to execute on its judgment. The Company is continuing to negotiate with the other lender, Snowmass Mining Co., LLC, who is owed $450,000 (payable in cash or gold), together with interest thereon from September 15, 2013. The Company has paid Snowmass the sum of $100,000 during the six-months ended April 30, 2014.
	As of April 30, 2014, the value of the gold obligation is $500,000. The difference between the amount received and the fair value of the obligation will be recorded as additional interest expense or income at each reporting date based on the fair value of gold. During the six-months ended April 30, 2014, the Company recorded additional interest expense of $270,840 as the value of gold decreased from October 31, 2013. During the three months ended April 30, 2014, the Company repaid $100,000 of gold obligation in cash.
	During the three months ended April 30, 2014, the Company entered into a forward sales for 48.563 oz. of gold bullion at $1,305 per oz. The Company has delivered 30 oz, of the gold bullion and has recorded the fair value of the remaining 18.563 oz. of gold as a forward contract in the amount of $23,920.
Mineral Exploration and Development Costs
All exploration expenditures are expensed as incurred.  Significant property acquisition payments for active exploration properties are capitalized.  If no minable ore body is discovered, previously capitalized costs are expensed in the period the property is abandoned.  Expenditures to develop new mines, to define further mineralization in existing ore bodies, and to expand the capacity of operating mines, are capitalized and amortized on a unit of production basis over proven and probable reserves.
Should a property be abandoned, its capitalized costs are charged to operations.  The Company charges to operations the allocable portion of capitalized costs attributable to properties abandoned.  Capitalized costs are allocated to properties sold based on the proportion of claims sold to the claims remaining within the project area.
Provision for Income Taxes
Income taxes are provided based upon the liability method of accounting. Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end.  A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard.
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for income tax purposes.
Net Loss Per Share
Basic 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 for the periods presented.  Diluted net loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the income of the Company, subject to anti-dilution limitations. As of April 30, 2014, the Company had (i) warrants for the purchase of 14,068,880 common shares; (ii) 2,083,248 common shares related to convertible promissory notes; and (iii) 605,000 common shares related to the conversion of Series A Convertible Preferred Stock; which were considered but were not included in the computation of loss per share at April 30, 2014 because they would have been anti-dilutive.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Recent Accounting Pronouncements
A variety of proposed or otherwise potential accounting standards are currently under study by standard setting organizations and various regulatory agencies. Due to the tentative and preliminary nature of those proposed standards, management has not determined whether implementation of such proposed standards would be material to the consolidated financial statements.

4_AGREEMENTS

4. AGREEMENTS	6 Months Ended
	Apr. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Agreements	'
	Exploration, Development and Mine Operating Agreements
	Joint Venture Agreement
	On September 15, 2010, WMTN and its wholly owned subsidiary, TGC, and Raven signed an Exploration, Development and Mine Operating Agreement (“JV Agreement”) pertaining to the TMC Project. WMTN has made payments of cash and stock to Raven pursuant to the JV Agreement for the past three years.
	On February 12, 2014, the Company, through TGC, acquired 100% ownership interest in the TMC Project from Raven for $1.8 million in cash and 200,000 shares of WMTN.  No further payments are due to Raven from TGC under the JV Agreement, (including but not limited to any royalty or residual payments), and each party is fully released from its obligations to the other under JV Agreement.  As of April 30, 2014, the $1.8 million of cash paid to Raven is recorded as Mining Claims in the accompanying consolidated balance sheet along with the 200,000 shares of common stock of the Company has been issued. The shares of common stock had a fair market value of $136,000 on the date of grant.
	Share Exchange Agreement with TMC
	During the year ended October 31, 2010, WMTN entered into a Share Exchange Agreement with Gregory Schifrin, American Mining Corporation (“AMC”) and James Baughman to acquire 100% of the issued and outstanding shares of common stock of TMC in exchange for 1,500,000 shares of restricted common stock of WMTN, par value of $0.001 per share. These shares were valued at $150,000. The value of these shares were recorded as Contractual Rights because of TMCs JV agreement with Terra Gold and Raven Gold Alaska, Inc. to explore the mineral properties. On February 12, 2014, the Company has acquired 100% of the Terra Gold project.
	Amended Claims and Lease Agreements with Ben Porterfield
	On January 7, 2011, Terra Mining Corporation (“TMC”) entered into an Amended Claims Agreement with Ben Porterfield related to five mining claims known as Fish Creek 1-5 (ADL-648383 through ADL-648387), which claims have been assigned to the TMC Project. As part of this Amended Claims Agreement, Ben Porterfield consented to certain conveyances, assignments, contributions and transfers related to the above five mining claims.
	The Amended Lease Agreement, which incorporates the Lease dated March 22, 2005 and the September 27, 2010 Consent between Ben Porterfield and AngloGold Ashanti (USA) Exploration Inc., has a term of ten years, which can be extended for an additional ten years with thirty days written notice. The Amended Lease Agreement defines terms and conditions and requires the following minimum royalties:
		●	Payment of $100,000 annually on March 22, 2011 (paid).
		●	Payment of $100,000 annually on March 22, 2012 (paid), 2013 (paid) through March 22, 2015.
		●	Payment of $125,000 annually on March 22, 2016 through the termination of the Amended Claims Agreement.
	On May 23, 2014, the Company made its annual payment of $100,000 to Ben Porterfield to cure a default under the Amended Lease Agreement with Mr. Porterfield. See Note 10 below.
	The Company can terminate the Amended Lease Agreement with the payment of $875,000, less $75,000 paid during the years 2006-2011. The payment maybe paid over three annual payments.
	TMC has paid in total $400,000 to Ben Porterfield and WMTN issued 500,000 shares of WMTN restricted common stock on March 23, 2011. The common stock was recorded as Contractual Rights at $250,000 or $0.50 per share. Mr. Porterfield is to receive 200 tons of Bens Vein materials over the next two years. The investment in the exclusive rights to the mineral properties is accounted for at cost. As of April 30, 2014, the Company has capitalized $650,000 related to this Claims Agreement.
	The Amended Claims Agreement, which incorporates the Lease dated March 22, 2005, provides for a production royalty of 4% of the net smelter return for all minerals produced or sold. The Company may repurchase 1% of the production royalty right for $1,000,000 and an additional 1% for $3,000,000.
	The failure to operate in accordance with the Amended Claims or Lease Agreements could result in the Lease being terminated. On May 23, 2014, the Company paid the $100,000 payment to Ben Porterfield that was due on March 22, 2014 to cure the default on the lease agreement.

5_EQUIPMENT_NET

5. EQUIPMENT, NET	6 Months Ended
	Apr. 30, 2014
Property, Plant and Equipment [Abstract]	'
Equipment, Net	'
	Equipment, net consists of the following:
		Estamated Useful Lives	April 30,			October 31,
			2014			2013
	Mining and other equipment	3-5 years	$	772,418		$	772,418
	Less: accumulated depreciation			(321,418	)		(243,445	)
			$	451,000		$	528,973
	Depreciation expense for the six months ended April 30, 2014 and 2013 was $77,973 and $65,261 respectively.

6_CERTAIN_RELATIONS_AND_RELATE

6. CERTAIN RELATIONS AND RELATED PARTY TRANSACTIONS	6 Months Ended
	Apr. 30, 2014
Related Party Transactions [Abstract]	'
Certain Relations and Related Party Transactions	'
	The following relationships are material or are related as indicated.
	Related Party Transactions
	WMTN entered into a Consulting Agreement with WestMountain Asset Management, Inc. (“WASM and WASM Agreement”), a WMTN shareholder. Under the terms of the WASM Agreement, WASM agreed to advise WMTN on the acquisition of TMC, funding of WMTN and strengthening the WMTN balance sheet during the period ending December 31, 2011. WASM received a Warrant for 925,000 shares at $0.001 per share.   During the year ended October 31, 2011 WASM exercised 873,000 of the 925,000 warrants.  WMTN agreed to file a registration statement with the SEC with regard to the shares issuable upon exercise of the warrant within ninety days on a best efforts basis. As of January 21, 2014, WASM had exercised the remaining 52,000 warrants.
	The Company has three full-time and part-time employees. The Company shares offices with Minex Exploration LLP (“Minex”), an Idaho partnership affiliated with the Company’s Chief Executive Officer. Also, the Company utilizes Minex contractors for exploration and development of the Alaska property. The Company has recorded accounts payable- related party of $818,972 and $697,127 as of April 30, 2014 and October 31, 2013, respectively.
	Secured Promissory and Promissory Notes with BOCO
	From time to time, the Company entered into promissory notes and other agreements with BOCO related to loans from BOCO to the Company.  The current status of BOCO loans to the Company and their terms are described in Note 7, Promissory Notes and Note 10, Subsequent Events, below.
	Promissory Notes with Silver Verde May Mining Company, Inc.
	On April 30, 2012 the Company entered into Promissory Note Documents with Silver Verde May Mining Company Inc. (“SVM”), a party related to an existing shareholder and a Director of the Company. Under the Promissory Note Documents, the Company issued Convertible Promissory Notes (“SVM Notes”) in the principal amounts totaling $85,000. The Notes were due November 6, 2012and provide for interest at 5% payable in arrears. The SVM Notes are convertible into common stock as $1.00 per share. In addition, the Company issued 42,500 shares of restricted common stock to SVM in connection with the issuance of the SVM Notes that was expensed to interest at $1.00 per share or $42,500 during the three months ended April 30, 2012. On May 29, 2013, the Company entered into an Amendment to Convertible Promissory Note extending the due date to July 31, 2013. As of April 30, 2014, the principal and accrued interest due on the notes is $36,428.  As of April 30, 2014, the Company has repaid $53,867 to SVM. On October 31, 2013, the Company entered into the Second Amendment to Convertible Promissory Note extending the due date to October 31, 2014.

7_PROMISSORY_NOTES

7. PROMISSORY NOTES	6 Months Ended
	Apr. 30, 2014
Debt Disclosure [Abstract]	'
Promissory Notes	'
	As of April 30, 2014 and October 31, 2013, the Company has the following promissory notes outstanding:
		April 30,		October 31,
		2014		2013
	BOCO September 17, 2012 Promissory Note	$	1,852,115	$	1,852,115
	BOCO May 14, 2013 Promissory Note		500,000		500,000
	BOCO June 27, 2013 Promissory Note		500,000		500,000
	BOCO December 30, 2013 Promissory Note		1,000,000		-
	Dessi December 17, 2013 Promissory Note		1,000,000		-
	Andres Promisorry Notes		200,000		200,000
	Silver Verde May Promissory Notes		31,133		31,113
	Total	$	5,083,248	$	3,083,228
	Secured Promissory Notes dated September 17, 2012 in Default
	On September 17, 2012, the Company entered into an Amended and Restated Revolving Credit Loan and Security and Secured Convertible Promissory Note Agreements with BOCO, an existing lender to and shareholder in the Company. On October 1, 2012, the Company entered into a Warrant to Purchase Stock Agreement with BOCO related to this financing (such Agreements and Warrant, the “Transaction Documents”). This transaction consolidated previously issued promissory note agreements and warrants purchase agreements into one amended agreement.
	Under the Transaction Documents, the Company issued an Amended and Restated Secured Convertible Promissory Note (the “September 2012 Note”) in the principal amount of $1,852,115. The September 2012 Note was due July 31, 2013 and provided for interest at 18% payable in arrears. The Note and accrued interest are convertible into common stock at the lesser of $3.00 or the lowest price at which common shares in the Company are issued in any round of financing commencing after the date of this Note and prior to the conversion, at the discretion of BOCO. The September 2012 Note is secured by a security interest in the Company’s assets to secure the Company’s performance under the Note.   In addition, the Company issued a Warrant to purchase 1,852,115 shares of common stock at the lesser of $1.50 or the lowest price at which common shares in the Company are issued in any round of financing commencing after the date of this Note. The Warrant expires September 30, 2017. There are no registration requirements. The Transaction Documents place certain operating restrictions on the Company.  As of April 30, 2014, the principal and accrued interest due on the note is $2,327,129.
	The Transaction Documents also contain certain representations and warranties of the Company and BOCO, including customary investment-related representations provided by BOCO, as well as acknowledgements by BOCO that it has reviewed certain disclosures of the Company (including the periodic reports that the Company has filed with the SEC) and that the Company’s issuance of the shares has not been registered with the SEC or qualified under any state securities laws.  The Company provided customary representations regarding, among other things, its organization, subsidiaries, disclosure reports, absence of certain legal or governmental proceedings, financial statements, tax matters, insurance matters, real property and other assets, and compliance with applicable laws and regulations.  The representations and warranties made to BOCO are qualified in their entirety (to the extent applicable) by the Company’s disclosures in the reports it files with the SEC.  The Company also delivered confidential disclosure schedules qualifying certain of its representations and warranties in connection with executing and delivering the Transaction Documents.
	In addition to the Transaction Documents described above, on September 11, 2012, the Company entered into a Warrant to Purchase Stock Agreement with BOCO. The Company issued a Warrant to purchase 1,250,000 shares of common stock at $0.25 per share. The Warrant expires September 30, 2017. There are no registration requirements.
	On August 29, 2013, the Company entered into the First Amendment to the Amended and Restated Secured Convertible Promissory Note with BOCO. The First Amendment was effective August 1, 2013 and extended the due date under for the September 2012 Note from July 31, 2013 to October 31, 2013.  This note is in default.
	Promissory Note with BOCO dated May 14, 2013 in Default
	In May 2013, the Company entered into a Promissory Note, a Security Agreement and warrants to Purchase Stock Agreement and a Loan Agreement (collectively the “May 2013 Transaction Documents”) with BOCO.  Under the May 2013 Transaction Documents, the Company issued a Promissory Note (the “May 2013 Note”) to BOCO in the principal amount of $500,000.  The May 2013 Note was due October 31, 2013 and provides for interest at 15%, payable in arrears.  The May 2013 Note is secured by a security interest in the Company’s assets to secure the Company’s performance.   As of April 30, 2014, the principal and accrued interest due on the note is $647,945.  This note is in default.  The default interest rate in effect is 45% at April 30, 2014.
	In addition, the Company issued a Warrant to purchase 1,250,000 shares of common stock at an exercise price that is the lesser of $0.75 per share or a price per share equal to eighty percent (80%) of the lowest price at which a common share in the Company has been issued in any round of financing commenced or closed after the date of this Warrant and prior to Holder’s exercise of its rights under the Warrant. The Warrant expires May 17, 2018. There are no registration requirements. The May 2013 Transaction Documents place certain operating restrictions on the Company.
	The May 2013 Transaction Documents also contain certain representations and warranties of the Company and BOCO, including customary investment-related representations provided by BOCO, as well as acknowledgements by BOCO that it has reviewed certain disclosures of the Company (including the periodic reports that the Company has filed with the SEC) and that the Company’s issuance of the shares has not been registered with the SEC or qualified under any state securities laws.  The Company provided customary representations regarding, among other things, its organization, subsidiaries, disclosure reports, absence of certain legal or governmental proceedings, financial statements, tax matters, insurance matters, real property and other assets, and compliance with applicable laws and regulations.  The representations and warranties made to BOCO are qualified in their entirety (to the extent applicable) by the Company’s disclosures in the reports it files with the SEC.  The Company also delivered confidential disclosure schedules qualifying certain of its representations and warranties in connection with executing and delivering the May 2013 Transaction Documents.
	Promissory Note with BOCO dated June 27, 2013 in Default
	On June 27, 2013, the Company entered into a Promissory Note, a Security Agreement and a Loan Agreements with BOCO. On June 27, 2013, the Company entered into a Warrant to Purchase Stock Agreement with BOCO related to this financing. All Agreements and the Warrant are the (“June Transaction Documents”).
	Under the June 2013 Transaction Documents, the Company issued a Promissory Note (“June 2013 Note”) in the principal amount of $500,000. The June 2013 Note was due December 31, 2013 and provides for interest at 15%, payable in arrears. The June 2013 Note is secured by a security interest in the Company’s assets to secure the Company’s performance under the June 2013 Note.  As of April 30, 2014, the principal and accrued interest due on the note is $612,397.  This note is in default. The default interest rate in effect is 45% at April 30, 2014.
	In addition, the Company issued a Warrant to purchase 1,250,000 shares of common stock at an exercise price that is the lesser of $0.75 per share or a price per share equal to eighty percent (80%) of the lowest price at which a common share in the Company has been issued in any round of financing commenced or closed after the date of this Warrant and prior to Holder’s exercise of its rights under the Warrant. The Warrant expires June 27, 2018. There are no registration requirements. The June 2013 Transaction Documents place certain operating restrictions on the Company.
	The June 2013 Transaction Documents also contain certain representations and warranties of the Company and BOCO, including customary investment-related representations provided by BOCO, as well as acknowledgements by BOCO that it has reviewed certain disclosures of the Company (including the periodic reports that the Company has filed with the SEC) and that the Company’s issuance of the shares has not been registered with the SEC or qualified under any state securities laws.  The Company provided customary representations regarding, among other things, its organization, subsidiaries, disclosure reports, absence of certain legal or governmental proceedings, financial statements, tax matters, insurance matters, real property and other assets, and compliance with applicable laws and regulations.  The representations and warranties made to BOCO are qualified in their entirety (to the extent applicable) by the Company’s disclosures in the reports it files with the SEC.  The Company also delivered confidential disclosure schedules qualifying certain of its representations and warranties in connection with executing and delivering the June 2013 Transaction Documents.
	Promissory Note with BOCO dated December 31, 2013 in Default
	On December 31, 2013, the Company signed a Promissory Note with BOCO for an aggregate loan amount of $1,000,000 (the “BOCO Bridge Loan”). Repayment of the BOCO Bridge Loan is due December 16, 2014 by repayment in cash.  The note bears interest at 8% per annum until paid in full.  As of April 30, 2014, the principal and accrued interest due on the note is $1,026,521.  This note currently is in default.  $800,000 of the proceeds from this loan were used for the acquisition of 100% interest in the TMC project from Raven Gold Alaska, Inc.
	Promissory Note with Giuseppe Dessi dated December 17, 2013
	On December 17, 2013, the Company signed a Promissory Note with an accredited investor, Giuseppe Dessi, for an aggregate loan amount of $1,000,000 (the “Dessi Bridge Loan”). Repayment of the Dessi Bridge Loan is due December 16, 2014 by repayment in cash.  The note bears interest at 8% per annum until paid in full.  As of April 30, 2014, the principal and accrued interest due on the note is $1,029,370.  All of the proceeds from this loan were used to acquire 100% interest in the TMC project from Raven Gold Alaska, Inc.
	Andes Unsecured Promissory Notes
	On March 21, 2012 the Company entered into Promissory Note Documents with Fabin Andres and Bill Andres, existing shareholders in the Company. Under the Promissory Note Documents, the Company issued a Convertible Promissory Note to each of Fabin Andres and Bill Andres in the principal amount of $100,000 and $100,000, respectively (“the Andres Notes”). The Andres Notes were due in twelve months and provide for interest at 5% payable in arrears. The Andres Notes are convertible into common stock as $1.00 per share. In addition, the Company issued 50,000 shares of restricted common stock to each party that was expensed to interest at $1.00 per share or $100,000 during the three months ended April 30, 2012. On May 29, 2013, the Company entered into an Amendment Convertible Promissory Note extending the due date to October 31, 2013. As of April 30, 2014 the principal and accrued interest due on the notes is $221,014.  On October 31, 2013, the Company entered into the Second Amendment to Convertible Promissory Notes extending the due date to October 31, 2014.

8_EQUITY_TRANSACTIONS

8. EQUITY TRANSACTIONS	6 Months Ended
	Apr. 30, 2014
Equity [Abstract]	'
Equity Transactions	'
	Unless otherwise indicated, all of the following sales or issuances of Company securities were conducted under the exemption from registration as provided under Section 4(2) of the Securities Act of 1933 (and also qualified for exemption under 4(5), formerly 4(6) of the Securities Act of 1933, except as noted below). All of the shares issued were issued in transactions not involving a public offering, are considered to be restricted stock as defined in Rule 144 promulgated under the Securities Act of 1933 and stock certificates issued with respect thereto bear legends to that effect.
	We have compensated consultants and service providers with restricted common stock during the Company’s development stage or when our capital resources were not adequate to provide payment in cash.
	All of the following transactions were to accredited investors. All were structured to comply with the requirements of the safe harbor afforded by Rule 506 of Regulation D.
	During the six months ended April 30, 2014, the Company had the following unregistered sales of equity securities:
	On November 1, 2013, the Company issued 310,000 shares of common stock valued at $1.08, or $334,800, and 310,000 warrants with an exercise price of $1.50 to settle a forward sale and loan agreement with an accredited investor. The warrants were valued at $279,899. The Company recorded $349,779 as loss on settlement of forward contract.
	Lincoln Park Transaction.
	On November 20, 2013, we entered into a purchase agreement (the “Purchase Agreement”), together with a registration rights agreement (the “Registration Rights Agreement”), with Lincoln Park Capital Fund, LLC (“Lincoln Park”).
	Under the terms and subject to the conditions of the Purchase Agreement, Lincoln Park purchased 113,636 shares of our common stock (“Common Stock”) for $100,101 and we have the right to sell to and Lincoln Park is obligated to purchase up to an additional $10 million in shares of Common Stock, subject to certain limitations, from time to time, over the 24-month period commencing on the date that a registration statement, which we agreed to file with the Securities and Exchange Commission (the “SEC”) pursuant to the Registration Rights Agreement, is declared effective by the SEC and a final prospectus in connection therewith is filed.
	We may direct Lincoln Park, at our sole discretion and subject to certain conditions, to purchase shares of Common Stock in amounts up to 50,000 shares on any single business day so long as at least one business day have passed since the most recent purchase.  We also can accelerate the amount of Common Stock to be purchased under certain circumstances to up to 100,000 shares per purchase.  However, Lincoln Park’s committed obligation under any single purchase will not exceed $500,000. The purchase price of shares of Common Stock related to the future funding will be based on the prevailing market prices of such shares immediately preceding the date of sales, but in no event will shares be sold to Lincoln Park on a day the Common Stock closing price is less than the floor price ($0,50) as defined in the Purchase Agreement.  Our sales of shares of Common Stock to Lincoln Park under the Purchase Agreement are limited to no more than the number of shares that would result in the beneficial ownership by Lincoln Park and its affiliates, at any single point in time, of more than 9.99% of the then outstanding shares of the Common Stock.
	On November 1, 2013, the Company issued 310,000 shares of common stock valued at $1.08, or $334,800, and 310,000 warrants with an exercise price of $1.50 to settle a forward sale and loan agreement with an accredited investor. The warrants were valued at $279,899. The Company recorded $349,779 as loss on settlement of forward contract.
	On November 23, 2013, pursuant to the terms of a separation agreement, the Company issued 159,000 shares of common stock valued at $1.00 to an officer of the Company.  The $159,000 of expense was recorded as stock compensation expense during the period.
	On January 17, 2014 WASM exercised warrants with an exercise price of $0.001 per share to purchase 52,000 shares of common stock and the Company received cash proceeds of $52.
	On March 20, 2014, the Company entered into an agreement to reduce our payable for legal services by $75,000 in exchange for 150,000 shares of restricted common stock at a price of $0.50 per share along with a five year warrant for the purchase of 150,000 shares of our common stock at $0.50 per share.   The Company recognized an expense for the warrants of $123,995 after calculating their value using the Black-Scholes pricing model.  On the date of grant, utilizing the Black-Scholes model, the following assumptions were used: expected life of the options of 5 years, expected volatility of 180.81%, risk-free interest rate of 1.76% and no dividend yield.
	On April 25, 2014 the Company issued 50,000 shares of common stock and a five year warrant to purchase 50,000 shares of our common stock at $0.50 per share.  The Company recognized an expense of $33,500 for the issuance of the shares and an expense of $30,780 for the options after calculating their value using the Black-Scholes pricing model.   On the date of grant, utilizing the Black-Scholes model, the following assumptions were used: expected life of the options of 5 years, expected volatility of 140.61%, risk-free interest rate of 1.72% and no dividend yield.
	A summary of the warrants issued as of April 30, 2014 were as follows:
			30-Apr-14
			Shares				Weighted Average Exercise Price
	Outstanding at beginning of period			16,511,975			$	1.152
	Issued			510,000			$	1.108
	Exercised			(52,000	)		$	0.001
	Forfeited			-				-
	Expired			(2,901,095	)		$	0.804
	Outstanding at end of period			14,068,880			$	1.138
	Exerciseable at end of period			14,068,880
					30-Apr-14
	Number of Warrants				Weighted Average Remaining Life				Weighted Average Exercise Price		Shares Exercisable
		1,250,000				3.42			$	0.25		1,250,000
		450,000				2.34			$	0.5		450,000
		3,850,000				3.36			$	0.75		3,850,000
		1,626,746				1.07			$	1		1,626,746
		6,437,967				2.21			$	1.5		6,437,967
		254,167				0.78			$	2		254,167
		200,000				7.55			$	4		200,000
		14,068,880							$	1.138		14,068,880

9_COMMITMENTS_CONTINGENCIES_AN

9. COMMITMENTS, CONTINGENCIES AND LEGAL PROCEEDINGS	6 Months Ended
	Apr. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments, Contingencies, and Legal Proceedings	'
	Except as disclosed, there are no pending legal proceedings against us that are expected to have a material adverse effect on our cash flows, financial condition or results of operations.
	EMPLOYMENT AGREEMENTS
	On October 1, 2010, TMC signed an Employment Agreement with Gregory Schifrin, which was acquired by WMTN as a result of the acquisition of TMC in February 2011. Under the terms of the agreement, Mr. Schifrin was appointed Chief Executive Officer for an indefinite period at a salary of $120,000 per year. Mr. Schifrin is eligible for annual bonuses and incentive plans as determined by the Company’s Compensation Committee. Mr. Schifrin is also eligible for employee benefit programs, including 4 weeks of vacation per year, medical benefits and $500 per day spent on the Company’s project sites. Mr. Schifrin may resign with 60 days’ notice. If Mr. Schifrin is terminated without cause, including a change in control (after six months), he is to receive in a lump sum, two times his annual salary, two times his targeted annual bonus, two times his last year’s bonus and any accrued vacation.
	On November 1, 2013, the Company signed an Employment Agreement with Loni Knepper, and on January 6, 2014, she was appointed Chief Financial Officer.  Under the terms of the agreement, Ms. Knepper will be paid a salary of $105,000 per year and is eligible for annual bonuses and incentive plans determined by the Company’s Compensation Committee. On May 23, 2014 Ms. Knepper tendered notice of her resignation to the Company, effective May 26, 2014.  See Note 10 Subsequent Events.
	LEASES
	The Company is obligated under various non-cancelable operating leases for their various facilities and certain equipment and claims agreements.
	The aggregate unaudited future minimum lease payments, to the extent the leases have early cancellation options and excluding escalation charges, are as follows:
	Years Ended April 30,	Total
	2014	$	279,000
	2015	$	100,000
	2016	$	125,000
	2017	$	125,000
	2018	$	125,000
	Beyond	$	125,000
	Total	$	879,000

10_SUBSEQUENT_EVENTS

10. SUBSEQUENT EVENTS	6 Months Ended
	Apr. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	On May 23, 2014, the Company’s Chief Financial Officer, Loni Knepper, tendered notice of her resignation to the Company, effective May 26, 2014. The Company’s Chief Executive Officer, Greg Schifrin, will serve as interim CFO until such time as a replacement is found and appointed by the Company’s board of directors.
	On May 23, 2014, the Company made its annual payment of $100,000 to Ben Porterfield to cure a default under the Amended Lease Agreement with Mr. Porterfield. See Note 4 above.
	On June 2, 2014, the Company received the  Amendment to Loan and Note Modification Agreement dated as of May 27, 2014 (the “Amendment to Loan Modification Agreement”) between the Company and BOCO Investments, LLC (“BOCO”) executed by BOCO. The Amendment to Loan Modification Agreement modifies three Loan Agreements, Security Agreements and related Promissory Notes between the Company and BOCO (collectively, the “Loan Documents”) in the aggregate principal amount of $3,852,115 that are in default and extends the maturity date of the debt to December 31, 2015, subject, however, to the Company’s fulfillment of certain conditions pertaining to an anticipated debt-equity offering by the Company (the “Debt-Equity Offering”).  The deadline for meeting these conditions, which include the Company raising at least $3,000,000 in the Debt-Equity Offering, has been extended to June 30, 2014. As of June 23, 2014, the Company has not raised the $3,000,000 as required by the Amendment to Loan Modification Agreement.
	The Amendment to Loan Modification Agreement also includes a condition requiring Minex (See Note 6 above), a related party vendor to convert $400,000 of the amount owed to Minex into 888,889shares of the Company’s common stock at a price per share of $0.45 (the “Minex Conversion”).
	Upon completion of the Minex Conversion, raising $3,000,000 in the Debt-Equity Offering, and upon the fulfillment of certain other conditions pertaining to the Debt- Equity Offering, the Company and BOCO have agreed: (i) to provide for the payment and/or conversion of portions of the outstanding Promissory Notes, including all accrued interest thereon, in shares of common stock of the Company; (ii) to extend and re-price some of the warrants previously issued to BOCO in connection with the Loan Documents; (iii) to issue new, additional warrants to BOCO; and (iv) to provide for the investment of additional funds by BOCO in the  Debt-Equity Offering. There can be no assurance that the Company will be able to fulfill the terms of the Amendment to the Loan Modification Agreement by the June 30, 2014 deadline, as the Company has not raised the required $3,000,000 as of June 23, 2014.

Recovered_Sheet1

3. Summary of Significant Accounting Principles (Policies)	6 Months Ended
	Apr. 30, 2014
Accounting Policies [Abstract]	'
Accounting Method	'
	The Company’s consolidated financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.
Principles of Consolidation	'
	These consolidated financial statements include the Company’s consolidated financial position, results of operations, and cash flows. All material intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements.
Foreign Currency Translation	'
	The consolidated financial statements are presented in US dollars.
Cash and Cash Equivalents	'
	The Company classifies highly liquid temporary investments with an original maturity of three months or less when purchased as cash equivalents. The Company maintains cash balances at various financial institutions. Balances at US banks are insured by the Federal Deposit Insurance Corporation up to $250,000. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risk for cash on deposit.  As of April 30, 2014, the Company had no uninsured cash amounts.
Equipment	'
	Equipment consists of machinery, furniture and fixtures and software, which are stated at cost less accumulated depreciation and amortization. Depreciation is computed by the straight-line method over the estimated useful lives or lease period of the relevant asset, generally 3 -5 years.
Metal and Other Inventory	'
	Inventories were $53,733 and $66,485 as of April 30, 2014 and October 31, 2013, respectively. Inventories include doré. All inventories are stated at the lower of cost or market, with cost being determined using a weighted average cost method. Metal inventory costs include direct labor, materials, depreciation, as well as administrative overhead costs relating to mining activities.
Mineral Properties	'
	Costs of acquiring mineral properties are capitalized by project area upon purchase of the associated claims. Costs to maintain the mineral rights and leases are expensed as incurred.  When a property reaches the production stage, the related capitalized costs will be amortized, using the units of production method on the basis of periodic estimates of ore reserves.
	Mineral properties are periodically assessed for impairment of value and any diminution in value.
	The Company has access to the camp by airplane. There is no road access from the camp to the project area where drilling and bulk sampling mining occurs. It is approximately 1 1/2 miles from camp to the project area.  Power generation is by diesel generator at the camp. Fuel is brought in for the generators by a cargo plane to the airstrip.
Long-Lived Assets	'
	The Company reviews its long-lived assets for impairment when changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Long-lived assets under certain circumstances are reported at the lower of carrying amount or fair value. Assets to be disposed of and assets not expected to provide any future service potential to the Company are recorded at the lower of carrying amount or fair value (less the projected cost associated with selling the asset). To the extent carrying values exceed fair values, an impairment loss is recognized in operating results.  As of April 30, 2014, there are no impairments recognized.
Alaska Reclamation and Remediation Liabilities	'
	The Company operates in Alaska. The State of Alaska Department of Natural Resources requires a pool of funds from all permittees with exploration and mining projects to cover reclamation. There is a $750 per acre disturbance reclamation bond that is required for disturbance of 5 acres or more and/or removal of more than 50,000 cubic yards of material. The Company exceeded the minimum requirements in 2013 and posted a reclamation bond of $22,358 on December 23, 2013.  The amount was expensed as an exploration cost during the period.
Fair Value Measurements	'
	ASC Topic 820, Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.  This topic also establishes a fair value hierarchy, which requires classification based on observable and unobservable inputs when measuring fair value.  The fair value hierarchy distinguishes between assumptions based on market data (observable inputs) and an entity’s own assumptions (unobservable inputs).  The hierarchy consists of three levels:
	Level 1 – Quoted prices in active markets for identical assets and liabilities;
	Level 2 – Inputs other than level one inputs that are either directly or indirectly observable; and
	Level 3 – Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.
	Liabilities measured at fair value on a recurring basis are summarized as follows:
		Fair Value Measurements Using Inputs								Carrying Amount at
	Financial Instruments	Level 1			Level 2			Level 3		April 30,
										2014
	Liabilities:
	Forward contract	$	-		$	523,920		$	-	$	523,920
	Derivative Instruments -Warrants	$	-		$	1,745,750		$	-	$	1,745,750
	Total	$	-		$	2,269,670		$	-	$	2,269,670
		Fair Value Measurements Using Inputs								Carrying Amount at
	Financial Instruments	Level 1			Level 2			Level 3		October 31,
										2013
	Liabilities:
	Forward contract	$	-		$	794,760		$	-	$	794,760
	Derivative Instruments -Warrants	$	-		$	2,000,000		$	-	$	2,000,000
	Total	$	-		$	2,794,760		$	-	$	2,794,760
	Market price and estimated fair value of common stock used to measure the Derivative Instruments-Warrants at April 30, 2014 and October 31, 2013:
	Expected term (years)
		April 30,			October 31,
		2014			2013
	Market price and estimated fair value of common stock:	$	0.74		$	1.06
	Exercise price	$	0.59		$	0.75
	Expected term (years)		4			4.8
	Dividend yield		-			-
	Expected volatility		184	%		112	%
	Risk-free interest rate		1.69	%		0.95	%
	The risk-free rate of return reflects the interest rate for the United States Treasury Note with similar time-to-maturity to that of the warrants.
	The recorded value of other financial assets and liabilities, which consist primarily of cash and cash equivalents, accounts receivable, other current assets, and accounts payable and accrued expenses approximate the fair value of the respective assets and liabilities at April 30, 2014 and October 31, 2013 based upon the short-term nature of the assets and liabilities.
Derivative Instruments - Warrants	'
	In May and June 2013, the Company received a total of $1.0 million and entered into Promissory Notes, Security
	Agreement, Loan Agreement and Warrants to Purchase Stock Agreement (collectively, the “Transaction Documents”) with BOCO Investments LLC (“BOCO”).
	In addition, the Company issued Warrants to BOCO to purchase 2,500,000 shares of common stock at an exercise price that is the lesser of $0.75 per share or a price per share equal to eighty percent (80%) of the lowest price at which a common s hare in the Company has been issued in any round of financing commenced or closed after the date of the Warrants and prior to Holder’s exercise of its rights under the Warrants. The Warrants expire in 2018, five years from the issuance date. There are no registration requirements. The Trans action Documents place certain operating restrictions on the Company.
	These warrants were not issued with the intent of effectively hedging any future cash flow, fair value of any asset, liability or any net investment in a foreign operation.  Therefore, the fair value of these warrants were recorded as a liability in the consolidated balance sheet and are marked to market each reporting period until they are exercised or expire or otherwise extinguished.
	During the second quarter of 2014, the Company recognized $254,250 of other income resulting from the decrease in the fair value of the warrant liability at April 30, 2014, as the value changed from the prior quarter.
Forward Sale and Loan Agreements	'
	On March 20, 2013, the Company entered into forward sale and loan agreements with three accredited investors for an aggregate loan of $600,000. The Company was required to tender no less than 600 ounces of gold in bar form to the three accredited investors by September 15, 2013, but defaulted on this obligation.
	On November 1, 2013, the Company settled with one of the parties that had a forward sale and loan agreement for 200 ounces of gold; the Company agreed to issue 310,000 shares of common stock valued at $1.08 per share at the time of issuance, or $334,800 and warrants for an additional 310,000 shares of common stock with an exercise price of $1.50 per share valued at $279,899, using the Black-Scholes method, in full settlement of all claims. The Company recorded a loss of $349,779 to settle this forward contract. As of the date of this filing, the Company is in default under the other agreements. One of the lenders, URenergy, LLC, obtained a judgment against the Company on March 31, 2014 for the amount of $204,143 plus attorneys’ fees and costs. Although the Company has attempted to negotiate a settlement of this judgment, no formal settlement agreement was reached and URenergy LLC has commenced proceedings to execute on its judgment. The Company is continuing to negotiate with the other lender, Snowmass Mining Co., LLC, who is owed $450,000 (payable in cash or gold), together with interest thereon from September 15, 2013. The Company has paid Snowmass the sum of $100,000 during the six-months ended April 30, 2014.
	As of April 30, 2014, the value of the gold obligation is $500,000. The difference between the amount received and the fair value of the obligation will be recorded as additional interest expense or income at each reporting date based on the fair value of gold. During the six-months ended April 30, 2014, the Company recorded additional interest expense of $270,840 as the value of gold decreased from October 31, 2013. During the three months ended April 30, 2014, the Company repaid $100,000 of gold obligation in cash.
	During the three months ended April 30, 2014, the Company entered into a forward sales for 48.563 oz. of gold bullion at $1,305 per oz. The Company has delivered 30 oz, of the gold bullion and has recorded the fair value of the remaining 18.563 oz. of gold as a forward contract in the amount of $23,920.
Mineral Exploration and Development Costs	'
	All exploration expenditures are expensed as incurred.  Significant property acquisition payments for active exploration properties are capitalized.  If no minable ore body is discovered, previously capitalized costs are expensed in the period the property is abandoned.  Expenditures to develop new mines, to define further mineralization in existing ore bodies, and to expand the capacity of operating mines, are capitalized and amortized on a unit of production basis over proven and probable reserves.
	Should a property be abandoned, its capitalized costs are charged to operations.  The Company charges to operations the allocable portion of capitalized costs attributable to properties abandoned.  Capitalized costs are allocated to properties sold based on the proportion of claims sold to the claims remaining within the project area.
Provison for Income Taxes	'
	Income taxes are provided based upon the liability method of accounting. Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end.  A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard.
	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for income tax purposes.
Net Loss Per Share	'
	Basic 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 for the periods presented.  Diluted net loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the income of the Company, subject to anti-dilution limitations. As of April 30, 2014, the Company had (i) warrants for the purchase of 14,068,880 common shares; (ii) 2,083,248 common shares related to convertible promissory notes; and (iii) 605,000 common shares related to the conversion of Series A Convertible Preferred Stock; which were considered but were not included in the computation of loss per share at April 30, 2014 because they would have been anti-dilutive.
Use of Estimates	'
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Recent Accounting Pronouncements	'
	A variety of proposed or otherwise potential accounting standards are currently under study by standard setting organizations and various regulatory agencies. Due to the tentative and preliminary nature of those proposed standards, management has not determined whether implementation of such proposed standards would be material to the consolidated financial statements.

3_SUMMARY_OF_SIGNIFICANT_ACCOU1

3. SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (Tables)	6 Months Ended
	Apr. 30, 2014
Summary Of Significant Accounting Principles Tables	'
Financial Instruments	'
		Fair Value Measurements Using Inputs								Carrying Amount at
	Financial Instruments	Level 1			Level 2			Level 3		April 30,
										2014
	Liabilities:
	Forward contract	$	-		$	523,920		$	-	$	523,920
	Derivative Instruments -Warrants	$	-		$	1,745,750		$	-	$	1,745,750
	Total	$	-		$	2,269,670		$	-	$	2,269,670
		Fair Value Measurements Using Inputs								Carrying Amount at
	Financial Instruments	Level 1			Level 2			Level 3		October 31,
										2013
	Liabilities:
	Forward contract	$	-		$	794,760		$	-	$	794,760
	Derivative Instruments -Warrants	$	-		$	2,000,000		$	-	$	2,000,000
	Total	$	-		$	2,794,760		$	-	$	2,794,760
Assumptions for fair value	'
		April 30,			October 31,
		2014			2013
	Market price and estimated fair value of common stock:	$	0.74		$	1.06
	Exercise price	$	0.59		$	0.75
	Expected term (years)		4			4.8
	Dividend yield		-			-
	Expected volatility		184	%		112	%
	Risk-free interest rate		1.69	%		0.95	%

5_Equipment_Net_Tables

5. Equipment, Net (Tables)	6 Months Ended
	Apr. 30, 2014
Property, Plant and Equipment [Abstract]	'
Schedule of Equipment	'
		Estamated Useful Lives	April 30,			October 31,
			2014			2013
	Mining and other equipment	3-5 years	$	772,418		$	772,418
	Less: accumulated depreciation			(321,418	)		(243,445	)
			$	451,000		$	528,973

7_PROMISSORY_NOTES_Tables

7. PROMISSORY NOTES (Tables)	6 Months Ended
	Apr. 30, 2014
Promissory Notes Tables	'
Promissory notes outstanding	'
		April 30,		October 31,
		2014		2013
	BOCO September 17, 2012 Promissory Note	$	1,852,115	$	1,852,115
	BOCO May 14, 2013 Promissory Note		500,000		500,000
	BOCO June 27, 2013 Promissory Note		500,000		500,000
	BOCO December 30, 2013 Promissory Note		1,000,000		-
	Dessi December 17, 2013 Promissory Note		1,000,000		-
	Andres Promisorry Notes		200,000		200,000
	Silver Verde May Promissory Notes		31,133		31,113
	Total	$	5,083,248	$	3,083,228

8_Equity_Transactions_Tables

8. Equity Transactions (Tables)	6 Months Ended
	Apr. 30, 2014
Equity [Abstract]	'
Summary of the warrants issued	'
			30-Apr-14
			Shares				Weighted Average Exercise Price
	Outstanding at beginning of period			16,511,975			$	1.152
	Issued			510,000			$	1.108
	Exercised			(52,000	)		$	0.001
	Forfeited			-				-
	Expired			(2,901,095	)		$	0.804
	Outstanding at end of period			14,068,880			$	1.138
	Exerciseable at end of period			14,068,880
Schedule of Share Based Compensation	'
					30-Apr-14
	Number of Warrants				Weighted Average Remaining Life				Weighted Average Exercise Price		Shares Exercisable
		1,250,000				3.42			$	0.25		1,250,000
		450,000				2.34			$	0.5		450,000
		3,850,000				3.36			$	0.75		3,850,000
		1,626,746				1.07			$	1		1,626,746
		6,437,967				2.21			$	1.5		6,437,967
		254,167				0.78			$	2		254,167
		200,000				7.55			$	4		200,000
		14,068,880							$	1.138		14,068,880

Recovered_Sheet2

9. Commitments, Contingencies, and Legal Proceedings (Tables)	6 Months Ended
	Apr. 30, 2014
Commitments Contingencies And Legal Proceedings Tables	'
Schedule of minimum lease payments	'
	Years Ended April 30,	Total
	2014	$	279,000
	2015	$	100,000
	2016	$	125,000
	2017	$	125,000
	2018	$	125,000
	Beyond	$	125,000
	Total	$	879,000

3_SUMMARY_OF_SIGNIFICANT_ACCOU2

3. SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (Details) (USD $)	Apr. 30, 2014	Oct. 31, 2013
Financial Instruments Liabilities:	'	'
Forward contract	$523,920	$794,760
Derivative Instruments -Warrants	1,745,750	2,000,000
Total	2,269,670	2,794,760
Level 1	'	'
Financial Instruments Liabilities:	'	'
Forward contract	0	0
Derivative Instruments -Warrants	0	0
Total	0	0
Level 2	'	'
Financial Instruments Liabilities:	'	'
Forward contract	523,920	794,760
Derivative Instruments -Warrants	1,745,750	2,000,000
Total	2,269,670	2,794,760
Level 3	'	'
Financial Instruments Liabilities:	'	'
Forward contract	0	0
Derivative Instruments -Warrants	0	0
Total	$0	$0

3_SUMMARY_OF_SIGNIFICANT_ACCOU3

3. SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (Details 1) (USD $)	6 Months Ended	12 Months Ended
	Apr. 30, 2014	Oct. 31, 2013
Summary Of Significant Accounting Principles Details 1	'	'
Market price and estimated fair value of common stock:	$0.74	$1.06
Exercise price	$0.59	$0.75
Expected term (years)	'4 years	'4.8 years
Dividend yield	0.00%	0.00%
Expected volatility	184.00%	112.00%
Risk-free interest rate	1.69%	0.95%

Recovered_Sheet3

3. Summary of Significant Accounting Policies (Details Narrative) (USD $)	Apr. 30, 2014	Oct. 31, 2013	Apr. 30, 2014	Apr. 30, 2014	Apr. 30, 2014
			Warrant	Promissory notes	Series A Convertible Preferred Stock
Inventory	$53,733	$66,485	'	'	'
Anti-dilutive shares not included in the computation of loss per share	'	'	14,068,880	2,083,248	605,000

4_Agreements_Details_Narrative

4. Agreements (Details Narrative) (USD $)	Apr. 30, 2014
Agreements Details Narrative	'
Capitalized costs	$650,000

5_EQUIPMENT_NET_Details

5. EQUIPMENT, NET (Details) (USD $)	Apr. 30, 2014	Oct. 31, 2013
Equipment Net Details	'	'
Mining and other equipment (Estimated Useful life 3-5 years)	$772,418	$772,418
Less: accumulated depreciation	-321,418	-243,445
Property and Equipment, Net	$451,000	$528,973

5_Equipment_Net_Details_Narrat

5. Equipment, Net (Details Narrative) (USD $)	6 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Equipment Net Details Narrative	'	'
Depreciation expense	$77,973	$65,261

6_Related_Party_Transactions_D

6. Related Party Transactions (Details Narrative) (USD $)	Apr. 30, 2014	Oct. 31, 2013
Related Party Transactions Details Narrative	'	'
Accounts payable - related parties	$818,972	$697,127

7_PROMISSORY_NOTES_Details

7. PROMISSORY NOTES (Details) (USD $)	Apr. 30, 2014	Oct. 31, 2013
Promissory	$5,083,248	$3,083,228
BOCO 1	'	'
Promissory	1,852,115	1,852,115
BOCO 2	'	'
Promissory	500,000	500,000
BOCO 3	'	'
Promissory	500,000	500,000
BOCO 4	'	'
Promissory	1,000,000	0
Dessi Promissory Note	'	'
Promissory	1,000,000	0
Andres Promissory	'	'
Promissory	200,000	200,000
Silver Verde May Promissory	'	'
Promissory	$31,113	$31,113

8_Equity_Transactions_Details

8. Equity Transactions (Details) (USD $)	6 Months Ended
	Apr. 30, 2014
Equity Transactions Details	'
Shares outstanding, at beginning of period	16,511,975
Shares issued	510,000
Shares exercised	-52,000
Shares forfeited	0
Shares expired	-2,901,095
Shares outstanding at end of period	14,068,880
Shares exercisable at end of period	14,068,880
Weighted Average Exercise Price	'
Shares outstanding at beginning of period (in Dollars per share)	$1.15
Shares issued (in Dollars per share)	$1.11
Shares exercised (in Dollars per share)	$0.00
Shares forfeited (in Dollars per share)	$0
Shares expired (in Dollars per share)	$0.80
Shares outstanding at end of period (in Dollars per share)	$1.14

8_Equity_Transactions_Details_

8. Equity Transactions (Details 1) (USD $)	6 Months Ended
	Apr. 30, 2014
Number of Warrants	14,068,880
Weighted Average Exercise Price	$1.14
Shares Exercisable	14,068,880
Option 1	'
Number of Warrants	1,250,000
Weighted Average Remaining Life	'3 years 5 months 1 day
Weighted Average Exercise Price	$0.25
Shares Exercisable	1,250,000
Option 2	'
Number of Warrants	450,000
Weighted Average Remaining Life	'2 years 4 months 2 days
Weighted Average Exercise Price	$0.50
Shares Exercisable	450,000
Option 3	'
Number of Warrants	3,850,000
Weighted Average Remaining Life	'3 years 4 months 10 days
Weighted Average Exercise Price	$0.75
Shares Exercisable	3,850,000
Option 4	'
Number of Warrants	1,626,746
Weighted Average Remaining Life	'1 year 25 days
Weighted Average Exercise Price	$1
Shares Exercisable	1,626,746
Option 5	'
Number of Warrants	6,437,967
Weighted Average Remaining Life	'2 years 2 months 16 days
Weighted Average Exercise Price	$1.50
Shares Exercisable	6,437,967
Option 6	'
Number of Warrants	254,167
Weighted Average Remaining Life	'9 months 11 days
Weighted Average Exercise Price	$2
Shares Exercisable	254,167
Option 7	'
Number of Warrants	200,000
Weighted Average Remaining Life	'7 years 6 months 18 days
Weighted Average Exercise Price	$4
Shares Exercisable	200,000

9_Commitments_Contingencies_an1

9. Commitments, Contingencies, and Legal Proceedings (Details) (USD $)	Apr. 30, 2014
Commitments Contingencies And Legal Proceedings Details	'
2014	$279,000
2015	100,000
2016	125,000
2017	125,000
2018	125,000
Beyond	125,000
Total	$879,000