Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Entity Registrant Name | 'GoldLand Holdings Corp. | ' |
Entity Central Index Key | '0001444839 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 398,288,809 |
BALANCE_SHEET
BALANCE SHEET (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
ASSETS | ' | ' |
Cash and cash equivalents | ' | ' |
Prepaid expenses | 494,549 | 52,498 |
Other assets | 3,000 | 3,000 |
Total current assets | 497,549 | 55,498 |
Mining Properties | 360,000 | 360,000 |
Total Assets | 857,549 | 415,498 |
Liabilities: | ' | ' |
Accounts payable | 99,520 | 70,470 |
Due to related parties | 713,129 | 1,168,882 |
Total current liabilities (all current) | 812,649 | 1,239,352 |
Stockholders' deficit: | ' | ' |
Preferred stock, 5,000,000 shares authorized | ' | ' |
Common stock, par value $0.0001, 400,000,000 shares authorized, 398,288,809 and 318,604,604 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively | 39,829 | 31,860 |
Additional paid in capital | 12,166,113 | 10,598,127 |
Accumulated deficit | -12,161,042 | -11,453,841 |
Total stockholders' deficit | 44,900 | -823,854 |
Total Liabilities and Stockholders' Equity (Deficit) | $857,549 | $415,498 |
BALANCE_SHEET_Parenthetical
BALANCE SHEET (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
BALANCE SHEET [Abstract] | ' | ' |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Common stock, par value per share | $0.00 | $0.00 |
Common stock, shares authorized | 400,000,000 | 400,000,000 |
Common stock, shares issued | 398,288,809 | 318,604,604 |
Common stock, shares outstanding | 398,288,809 | 318,604,604 |
STATEMENT_OF_OPERATIONS
STATEMENT OF OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
STATEMENT OF OPERATIONS [Abstract] | ' | ' | ' | ' |
Revenues: | $250,000 | $250,000 | $750,000 | $750,000 |
Expenses: | ' | ' | ' | ' |
Consulting fees | 12,965 | 14,986 | 60,441 | 121,291 |
Compensation expense | 455,176 | 383,714 | 1,365,528 | 1,151,142 |
General and administrative | 21,332 | 6,301 | 31,232 | 17,116 |
Total expenses | 489,473 | 405,001 | 1,457,201 | 1,289,549 |
Loss from operations | -239,473 | -155,001 | -707,201 | -539,549 |
Interest expense | ' | ' | ' | ' |
Net Loss | ($239,473) | ($155,001) | ($707,201) | ($539,549) |
Net loss per common share - basic and fully diluted | ' | ' | ' | ' |
Weighted average number of common shares outstanding - basic and fully diluted | 398,288,809 | 276,332,070 | 397,046,058 | 274,697,227 |
STATEMENT_OF_CASH_FLOWS
STATEMENT OF CASH FLOWS (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Cash flows from operating activities: | ' | ' |
Net income (loss) | ($707,201) | ($539,549) |
Adjustments to reconcile net earnings (loss) to net cash (used in) operating activities: | ' | ' |
Issuance of common stock for services | 49,251 | 103,500 |
Issuance of common stock for compensation | 1,526,704 | ' |
Increase (decrease) in operating assets and liabilities: | ' | ' |
Accounts payable and accrued expenses | 29,050 | -19,342 |
Prepaid expenses | -442,051 | -370,587 |
Due to related party | -455,753 | 826,227 |
Net cash provided by (used in) operating activities | ' | 249 |
Net increase (decrease) in cash and cash equivalents | ' | 249 |
Cash and equivalents at beginning of period | ' | 276 |
Cash and equivalents at end of period | ' | 525 |
SUPPLEMENTARY DISCLOSURE OF NONCASH TRANSACTIONS | ' | ' |
Shares issued for services | 49,251 | 103,500 |
Shares issued for compensation | 1,526,704 | ' |
Non-cash lease income | ($750,000) | ($750,000) |
STATEMENT_OF_STOCKHOLDERS_DEFI
STATEMENT OF STOCKHOLDERS' DEFICIT (USD $) | Total | Common Stock [Member] | Preferred Stock [Member] | Additional Paid in Capital [Member] | Accumulated Deficit [Member] |
Balance at Dec. 31, 2012 | ($823,854) | $31,860 | ' | ' | ' |
Balance, shares at Dec. 31, 2012 | ' | 318,604,604 | ' | ' | ' |
Shares issued for compensation | 1,526,704 | ' | ' | ' | ' |
Shares issued for compensation, shares | ' | 76,335,188 | ' | ' | ' |
Balance at Jan. 31, 2013 | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2012 | -823,854 | 31,860 | ' | 10,598,127 | -11,453,841 |
Balance, shares at Dec. 31, 2012 | ' | 318,604,604 | ' | ' | ' |
Shares issued for services | 49,251 | 335 | ' | 48,916 | ' |
Shares issued for services, shares | ' | 3,349,017 | ' | ' | ' |
Shares issued for compensation | 1,526,704 | 7,634 | ' | 1,519,070 | ' |
Shares issued for compensation, shares | ' | 76,335,188 | ' | ' | ' |
Net loss | -707,201 | ' | ' | ' | -707,201 |
Balance at Sep. 30, 2013 | $44,900 | $39,829 | ' | $12,166,113 | ($12,161,042) |
Balance, shares at Sep. 30, 2013 | ' | 398,288,809 | ' | ' | ' |
ORGANIZATION_AND_DESCRIPTION_O
ORGANIZATION AND DESCRIPTION OF BUSINESS | 9 Months Ended |
Sep. 30, 2013 | |
ORGANIZATION AND DESCRIPTION OF BUSINESS [Abstract] | ' |
ORGANIZATION AND DESCRIPTION OF BUSINESS | ' |
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS | |
GoldLand Holdings Co, (the "Company," "we" or "us") was originally formed as Montrose Ventures, Inc. in the State of Delaware on May 25, 1989. On April 23, 1996, the Company's name was changed to Java Group, Inc., and on September 1, 2004 the name was changed to Consolidated General Corp. On August 7, 2007, the Company's name was changed to GoldCorp Holdings Co. On October 15, 2010, our name was changed to GoldLand Holdings Co. | |
The Company owns land and lease claims on War Eagle Mountain in the state of Idaho. The Company has entered into a lease agreement with Silver Falcon Mining, Inc. ("Silver Falcon") under which Silver Falcon is entitled to mine the land and the Company is entitled to lease payments of $1,000,000 per year and a 15% royalty on all minerals extracted by Silver Falcon from tailing piles on our land or through shafts or adits located on our land. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2013 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Revenue Recognition | |
Revenue is recognized when earned according to lease and royalty agreements. Lease income is recognized as earned on a monthly basis according to the terms of the lease. Royalty income is recognized as minerals are extracted and refined. | |
Cash and Cash Equivalents | |
Cash and cash equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Because of the short maturity of these investments, the carrying amounts approximate their fair value. | |
Facilities and equipment | |
Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and recorded at cost. The facilities and equipment are depreciated using the straight-line method at rates sufficient to depreciate such costs over the estimated productive lives, which do not exceed the related estimated mine lives, of such facilities based on proven and probable reserves. | |
Impairment of Long-Lived Assets | |
The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. An impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the assets, including goodwill, if any. An impairment loss is measured and recorded based on discounted estimated future cash flows. Future cash flows are estimated based on quantities of recoverable minerals, expected gold and other commodity prices (considering current and historical prices, price trends and related factors), production levels and operating costs of production and capital, all based on life-of-mine plans. Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization other than proven and probable reserves and other material that is not part of the measured, indicated or inferred resource base, are included when determining the fair value of mine site reporting units at acquisition and, subsequently, in determining whether the assets are impaired. The term "recoverable minerals" refers to the estimated amount of gold or other commodities that will be obtained after taking into account losses during mineral processing and treatment. Estimates of recoverable minerals from such exploration stage mineral interests are risk adjusted based on management's relative confidence in such materials. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. The Company's estimates of future cash flows are based on numerous assumptions and it is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable minerals, gold and other commodity prices, production levels and operating costs of production and capital are each subject to significant risks and uncertainties. | |
Goodwill | |
The Company evaluates, on at least an annual basis during the fourth quarter, the carrying amount of goodwill to determine whether current events and circumstances indicate that such carrying amount may no longer be recoverable. To accomplish this, the Company compares the estimated fair value of its reporting units to their carrying amounts. If the carrying value of a reporting unit exceeds its estimated fair value, the Company compares the implied fair value of the reporting unit's goodwill to its carrying amount, and any excess of the carrying value over the fair value is charged to earnings. The Company's fair value estimates are based on numerous assumptions and it is possible that actual fair value will be significantly different than the estimates, as actual future quantities of recoverable minerals, gold and other commodity prices, production levels and operating costs of production and capital are each subject to significant risks and uncertainties. | |
Stock Based Compensation | |
The Company has issued and may issue stock in lieu of cash for certain transactions. The fair value of the stock, which is based on comparable cash purchases, third party quotations, or the value of services, whichever is more readily determinable, is used to value the transaction | |
Use of Estimates | |
The Company's Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of the Company's Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related 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. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ significantly from these estimates under different assumptions or conditions. | |
Basic and Diluted Per Common Share | |
Basic earnings per common share is computed by dividing income available to common stockholders by the weighted average number of common shares assumed to be outstanding during the period of computation. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Because we have incurred net losses, basic and diluted loss per share are the same since additional potential common shares would be anti-dilutive. | |
Research and Development | |
The Company expenses research and development costs as incurred. |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2013 | |
RELATED PARTY TRANSACTIONS [Abstract] | ' |
RELATED PARTY TRANSACTIONS | ' |
NOTE 3 - RELATED PARTY TRANSACTIONS | |
In January 2013, Silver Falcon issued 12,000,000 shares of its Class A Common Stock valued at $294,000 to various officers of Goldland (who are also Silver Falcon officers) to pay compensation owed to them by Goldland for part of the year 2013. The value of the shares issued by Silver Falcon was recorded as an amount due to related party on our balance sheet. | |
As of September 30, 2013, the amount due to Silver Falcon was $ 708,629, the amount due to Diamond Creek Mill, Inc., a wholly-owned subsidiary of Silver Falcon, was $2,650, the amount due from Pierre Quilliam was $4,100, the amount due from Palmirs, Inc., a wholly-owned subsidiary of Silver Falcon, was $800, and the amount due to Bisell Investments, LLC was $6,750. The amounts are non-interest bearing, unsecured demand loans. | |
Silver Falcon is obligated to pay Goldland $83,333 per month as rent under a mining lease. Instead of paying the rent in cash, Silver Falcon has, since January 1, 2012, satisfied its rental obligation by reductions in the amount it is owed from Goldland. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2013 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
NOTE 4 - COMMITMENTS AND CONTINGENCIES | |
In August 2010, Richard (Robert) Corrigan, acting as a debtor in possession in his personal bankruptcy case, filed an adversary proceeding against us to recover amounts due under a consulting agreement dated July 1, 2009. The consulting agreement provided that Mr. Corrigan would provide certain consulting, mapping and assaying services on three lode claims owned by us on War Eagle Mountain. The consulting agreement provided that Mr. Corrigan's compensation would be a bonus of $150,000, which would be payable in the form of 150,000 shares of common stock, and monthly consulting payments of $5,000 per month. The consulting agreement also provided that Mr. Corrigan was entitled to monthly transportation expenses of $250 per month. We terminated Mr. Corrigan on December 8, 2009 for nonperformance. In 2011, Mr. Corrigan's case was converted to a Chapter 7 case. In November 2011, Mr. Corrigan's bankruptcy trustee filed an amended complaint in the adversary proceeding, in which Chapter 7 trustee seeks recovery of the $150,000 bonus and the balance of the unpaid consulting fees and travel expense allowance of $60,900, for a total of $210,900, plus interest and attorney's fees. | |
On June 19, 2013, the Company learned that the District Court for the Third Judicial District of the State of Idaho for the County of Owyhee entered a default judgment against the Company in the case. The default judgment grants a judgment against the Company in the amount of $284,449. The Company retained new counsel who filed a motion to vacate the default judgment. On September 19, 2013, the court entered a memorandum opinion setting aside the default judgment. As a result, the Company plans to continue defending the action vigorously. |
CAPITAL_STOCK
CAPITAL STOCK | 9 Months Ended |
Sep. 30, 2013 | |
CAPITAL STOCK [Abstract] | ' |
CAPITAL STOCK | ' |
NOTE 5 - CAPITAL STOCK | |
At September 30, 2013, the Company's authorized capital stock was 400,000,000 shares of Common Stock, par value $0.0001 per share, and 5,000,000 shares of Preferred Stock, par value $0.0001 per share. On that date, the Company had outstanding 398,288,809 shares of Common Stock, and no shares of Preferred Stock. During the three months ended September 30, 2013, the Company did not issue any shares of common stock. |
GOING_CONCERN
GOING CONCERN | 9 Months Ended |
Sep. 30, 2013 | |
GOING CONCERN [Abstract] | ' |
GOING CONCERN | ' |
NOTE 6 - GOING CONCERN | |
These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. However, the Company has incurred a net loss of ($707,201) for the nine months ended September 30, 2013. The Company has remained in business primarily through the deferral of salaries by management, loans from the Company's chief executive officer, loans from a significant shareholder, and the issuance of shares of common stock to procure certain services. The Company intends on financing its future development activities from the same sources, until such time that funds provided by operations are sufficient to fund working capital requirements. | |
These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time. |
PREPAID_EXPENSES
PREPAID EXPENSES | 9 Months Ended |
Sep. 30, 2013 | |
PREPAID EXPENSES [Abstract] | ' |
PREPAID EXPENSES | ' |
NOTE 7 - PREPAID EXPENSES | |
In January 2013, Silver Falcon issued 12,000,000 shares of its Class A Common Stock valued at $294,000 to various officers of Goldland (who are also Silver Falcon officers) to pay compensation owed to them by Goldland for the year 2013. In January 2013, the Company issued 76,335,188 of common stock valued at $1,526,704 to pay compensation to our officers for 2013. We capitalized these payments as a prepaid expense, and are amortizing the amounts over the twelve months of 2013. |
ACQUISITION_OF_CASINO_EQUIPMEN
ACQUISITION OF CASINO EQUIPMENT AND RELATED TRANSACTIONS | 9 Months Ended |
Sep. 30, 2013 | |
ACQUISITION OF CASINO EQUIPMENT AND RELATED TRANSACTIONS [Abstract] | ' |
ACQUISITION OF CASINO EQUIPMENT AND RELATED TRANSACTIONS | ' |
NOTE 8 - ACQUISITION OF CASINO EQUIPMENT AND RELATED TRANSACTIONS | |
On September 19, 2013, our wholly-owned subsidiary, Universal Entertainment SAS, Inc., entered into an Asset Purchase Agreement with Universal Entertainment SAS, Ltd., a corporation formed under the laws of the Country of Colombia, to acquire certain casino equipment (the "Equipment"). The Asset Purchase Agreement was subsequently amended in November 2013. Under the Asset Purchase Agreement, as amended, the Company agreed to effect the following transactions: | |
· | |
The Company will acquire the Equipment for 17,450,535 shares of the Company's Common Stock after giving effect to a proposed one for ten reverse stock split. | |
· | |
At closing of the purchase of the Equipment, the Company will enter into a lease (the "Lease") of the Equipment to VOMBLOM & POMARE S.A., a company formed under the laws of Colombia, which provides for lease payments of $700,000 per year, payable $58,333 per month, and a term of five years with one five year renewal option. | |
· | |
The Company will effect a one for ten reverse split of its common stock. | |
· | |
The Company will issue 17,000,000 shares of post-split common stock to various officers, directors and significant shareholders as compensation for past services and support of the Company. | |
· | |
The Company will enter into agreements to cancel all of its outstanding options for $100 payable to each of the optionholders. | |
· | |
The Company will enter into consulting agreements with six individuals, which provide for cumulative annual compensation of $1,235,000 payable in shares of the Company's common stock on a trimester basis, and the issuance of 19,977,980 shares of post-split common stock as signing bonuses. | |
The Asset Purchase Agreement includes a number or representations and warranties of the seller, including that the seller is duly organized and in good standing; that the seller is authorized to enter into the Asset Purchase Agreement and consummate the transactions provided for therein; that the Company will acquire good title to the Equipment free and clear of all liens, claims or encumbrances; that the seller is not acquiring the Company's shares with a view to redistribute them; that the seller has reviewed the Company's SEC filings | |
The closing of the Equipment Acquisition is conditioned on the completion of a one for ten reverse split of the Company's common stock, all of the representations and warranties of both parties being true as of the closing date, the execution of the Lease, the issuance of the bonus shares described below, the cancellation of the options described below, the execution of the consulting agreements described below, among other things. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2013 | |
SUBSEQUENT EVENTS [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE 9 - SUBSEQUENT EVENTS | |
In November 2013, the Company amended the Asset Purchase Agreement to purchase certain casino equipment, as described in Note 8 herein. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy) | 9 Months Ended |
Sep. 30, 2013 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' |
Revenue Recognition | ' |
Revenue Recognition | |
Revenue is recognized when earned according to lease and royalty agreements. Lease income is recognized as earned on a monthly basis according to the terms of the lease. Royalty income is recognized as minerals are extracted and refined. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
Cash and cash equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Because of the short maturity of these investments, the carrying amounts approximate their fair value. | |
Facilities and equipment | ' |
Facilities and equipment | |
Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and recorded at cost. The facilities and equipment are depreciated using the straight-line method at rates sufficient to depreciate such costs over the estimated productive lives, which do not exceed the related estimated mine lives, of such facilities based on proven and probable reserves. | |
Impairment of Long-Lived Assets | ' |
Impairment of Long-Lived Assets | |
The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. An impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the assets, including goodwill, if any. An impairment loss is measured and recorded based on discounted estimated future cash flows. Future cash flows are estimated based on quantities of recoverable minerals, expected gold and other commodity prices (considering current and historical prices, price trends and related factors), production levels and operating costs of production and capital, all based on life-of-mine plans. Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization other than proven and probable reserves and other material that is not part of the measured, indicated or inferred resource base, are included when determining the fair value of mine site reporting units at acquisition and, subsequently, in determining whether the assets are impaired. The term "recoverable minerals" refers to the estimated amount of gold or other commodities that will be obtained after taking into account losses during mineral processing and treatment. Estimates of recoverable minerals from such exploration stage mineral interests are risk adjusted based on management's relative confidence in such materials. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. The Company's estimates of future cash flows are based on numerous assumptions and it is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable minerals, gold and other commodity prices, production levels and operating costs of production and capital are each subject to significant risks and uncertainties. | |
Goodwill | ' |
Goodwill | |
The Company evaluates, on at least an annual basis during the fourth quarter, the carrying amount of goodwill to determine whether current events and circumstances indicate that such carrying amount may no longer be recoverable. To accomplish this, the Company compares the estimated fair value of its reporting units to their carrying amounts. If the carrying value of a reporting unit exceeds its estimated fair value, the Company compares the implied fair value of the reporting unit's goodwill to its carrying amount, and any excess of the carrying value over the fair value is charged to earnings. The Company's fair value estimates are based on numerous assumptions and it is possible that actual fair value will be significantly different than the estimates, as actual future quantities of recoverable minerals, gold and other commodity prices, production levels and operating costs of production and capital are each subject to significant risks and uncertainties. | |
Stock Based Compensation | ' |
Stock Based Compensation | |
The Company has issued and may issue stock in lieu of cash for certain transactions. The fair value of the stock, which is based on comparable cash purchases, third party quotations, or the value of services, whichever is more readily determinable, is used to value the transaction | |
Use of Estimates | ' |
Use of Estimates | |
The Company's Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of the Company's Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related 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. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may differ significantly from these estimates under different assumptions or conditions. | |
Basic and Diluted Per Common Share | ' |
Basic and Diluted Per Common Share | |
Basic earnings per common share is computed by dividing income available to common stockholders by the weighted average number of common shares assumed to be outstanding during the period of computation. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Because we have incurred net losses, basic and diluted loss per share are the same since additional potential common shares would be anti-dilutive. | |
Research and Development | ' |
Research and Development | |
The Company expenses research and development costs as incurred. |
ORGANIZATION_AND_DESCRIPTION_O1
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
ORGANIZATION AND DESCRIPTION OF BUSINESS [Abstract] | ' |
Royalty percentage | 15.00% |
Annual lease payment | $1,000,000 |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details) (USD $) | 1 Months Ended | 9 Months Ended | |
Jan. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |
Related Party Transaction [Line Items] | ' | ' | ' |
Due to related parties | ' | $713,129 | $1,168,882 |
Shares issued for compensation | 1,526,704 | 1,526,704 | ' |
Silver Falcon Mining, Inc. [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Due to related parties | ' | 708,629 | ' |
Shares issued for compensation, shares | 12,000,000 | ' | ' |
Shares issued for compensation | 294,000 | ' | ' |
Monthly rent owed from related party | ' | 83,333 | ' |
Diamond Creek Mill, Inc. [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Due to related parties | ' | 2,650 | ' |
Palmirs, Inc. [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Receivable from related parties | ' | 800 | ' |
Pierre Quilliam [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Receivable from related parties | ' | 4,100 | ' |
Bisell Investments, LLC [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Due to related parties | ' | $6,750 | ' |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Details) (USD $) | 0 Months Ended | 9 Months Ended |
Jun. 19, 2013 | Sep. 30, 2013 | |
Loss Contingencies [Line Items] | ' | ' |
Payments sought in lawsuit | ' | $210,900 |
Amount of judgment | 284,449 | ' |
Shares of stock sought in lawsuit | ' | 150,000 |
Monthly consulting payments | ' | 5,000 |
Travel allowance | ' | 250 |
Bonus Claimed [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Payments sought in lawsuit | ' | 150,000 |
Unpaid Consulting Fees and Travel Expense Allowances Claimed [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Payments sought in lawsuit | ' | $60,900 |
CAPITAL_STOCK_Details
CAPITAL STOCK (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
CAPITAL STOCK [Abstract] | ' | ' |
Common stock, shares authorized | 400,000,000 | 400,000,000 |
Common stock, par value per share | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, par or stated value per share | $0.00 | ' |
Common stock, shares outstanding | 398,288,809 | 318,604,604 |
GOING_CONCERN_Details
GOING CONCERN (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
GOING CONCERN [Abstract] | ' | ' | ' | ' |
Net income (loss) | ($239,473) | ($155,001) | ($707,201) | ($539,549) |
PREPAID_EXPENSES_Details
PREPAID EXPENSES (Details) (USD $) | 1 Months Ended | 9 Months Ended |
Jan. 31, 2013 | Sep. 30, 2013 | |
Related Party Transaction [Line Items] | ' | ' |
Shares issued for compensation | $1,526,704 | $1,526,704 |
Common Stock [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Shares issued for compensation, shares | 76,335,188 | 76,335,188 |
Shares issued for compensation | ' | 7,634 |
Silver Falcon Mining, Inc. [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Shares issued for compensation, shares | 12,000,000 | ' |
Shares issued for compensation | $294,000 | ' |
ACQUISITION_OF_CASINO_EQUIPMEN1
ACQUISITION OF CASINO EQUIPMENT AND RELATED TRANSACTIONS (Details) (Scenario, Forecast [Member], USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Property, Plant and Equipment [Line Items] | ' |
Shares issued for casino equipment, shares | 17,450,535 |
Stock split ratio | 0.1 |
Annual lease payment | $700,000 |
Monthly lease payment | 58,333 |
Lease term | '5 years |
Lease renewal term | '5 years |
Shares issued for services, shares | 17,000,000 |
Payment per option | 100 |
Consultants [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Compensation commitment | $1,235,000 |
Shares issued to consultants | 19,977,980 |