Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Apr. 30, 2014 | Jun. 13, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Santo Mining Corp. | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--07-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 422,346,953 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001499275 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Apr-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Santo_Mining_Corp_Balance_Shee
Santo Mining Corp. - Balance Sheets (USD $) | Apr. 30, 2014 | Jul. 31, 2013 |
CURRENT ASSETS | ' | ' |
Cash | $42,658 | $20,653 |
Prepaid expenses | ' | 78,728 |
Total Current Assets | 42,658 | 99,381 |
Mineral claims | 186,915 | 186,915 |
Website, net of amortization & impairment of $0 and $3,102, respectively | ' | 3,102 |
Deposits | 10,000 | 137,247 |
TOTAL ASSETS | 239,573 | 426,645 |
CURRENT LIABILITIES | ' | ' |
Accounts payable and accrued expenses | 185,800 | 119,648 |
Stock payable | 263,604 | 392,400 |
Derivative liability | 300,605 | 149,451 |
Related party payable | 149,696 | 149,696 |
Convertible notes payable, net of discount of $222,878 and $31,140, respectively | 252,698 | 41,416 |
TOTAL LIABILITIES | 1,152,403 | 852,611 |
STOCKHOLDERS' DEFICIT | ' | ' |
Preferred stock, 500,000,000 shares authorized, $0.00001 par value; none issued and outstanding | 0 | 0 |
Common stock, 5,000,000,000 shares authorized, $0.00001 par value; 290,016,767 and 67,577,489 shares issued and outstanding, respectively | 2,900 | 676 |
Additional paid-in capital | 1,983,242 | 1,118,733 |
Deficit accumulated during the development stage | -2,898,972 | -1,545,375 |
TOTAL STOCKHOLDERS' DEFICIT | -912,830 | -425,966 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $239,573 | $426,645 |
Santo_Mining_Corp_Balance_Shee1
Santo Mining Corp. - Balance Sheets (Parentheticals) (USD $) | Apr. 30, 2014 | Jul. 31, 2013 |
Website, net of amortization (in Dollars) | $0 | $3,102 |
Convertible notes payable, net of discount (in Dollars) | $222,878 | $31,140 |
Series A Preferred stock, shares authorized | 500,000 | 500,000 |
Series A Preferred stock, shares issued | 100,000 | 100,000 |
Series A Preferred stock, shares outstanding | 100,000 | 100,000 |
Preferred stock par value (in Dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized | 500,000,000 | 500,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 5,000,000,000 | 5,000,000,000 |
Common stock, shares issued | 290,016,767 | 67,577,489 |
Common stock, shares outstanding | 290,016,767 | 67,577,489 |
Santo_Mining_Corp_Statement_of
Santo Mining Corp. - Statement of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2014 | Apr. 30, 2013 | |
OPERATING EXPENSES: | ' | ' | ' | ' |
General and administrative | $273,389 | $276,263 | $677,121 | $558,480 |
Impairment of assets | ' | ' | 2,859 | ' |
Total operating expenses | 273,389 | 276,263 | 679,980 | 558,480 |
Change in fair value of derivative liability | 65,440 | 212 | 55,083 | 212 |
Interest expense | -514,588 | -379 | -728,700 | -379 |
Total other expense | -449,148 | -167 | -673,617 | -167 |
Net loss | ($727,537) | ($276,430) | ($1,353,597) | ($558,647) |
Basic and diluted loss per common share (in Dollars per share) | ($0.02) | $0 | ($0.01) | ($0.01) |
Basic and diluted weighted average number of common shares outstanding (in Shares) | 26,470,663 | 66,251,271 | 120,588,697 | 64,823,026 |
Santo_Mining_Corp_Statement_of1
Santo Mining Corp. - Statement of Cash Flows (USD $) | 9 Months Ended | |
Apr. 30, 2014 | Apr. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net loss | ($1,353,597) | ($558,647) |
Depreciation and amortization expense | 446,096 | 784 |
Share-based compensation | 198,762 | 167,132 |
Impairment of assets | 2,859 | ' |
Unrealized (gain) loss on change in derivative values | -55,083 | -212 |
Changes in operating assets and liabilities: | ' | ' |
Prepaid expense and other assets | 205,975 | ' |
Accounts payable and accrued expenses | 274,493 | 78,223 |
Net cash used in operating activities | -280,495 | -312,720 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Payment of deposit on mineral claims | ' | -106,247 |
Purchase of mineral claims | ' | -29,523 |
Payments for website | ' | -210 |
Net cash used in investing activities | ' | -135,980 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Proceeds from sale of common stock | ' | 390,200 |
Proceeds from issuance of convertible notes payable, net | 302,500 | 53,000 |
Net cash provided by financing activities | 302,500 | 443,200 |
Net change in cash | 22,005 | -5,500 |
Cash, beginning of period | 20,653 | 50,793 |
Cash, end of period | 42,658 | 45,293 |
SUPPLEMENTAL CASH FLOWS DISCLOSURES: | ' | ' |
Income taxes paid | 0 | 0 |
NONCASH INVESTING AND FINANCING ACTIVITIES: | ' | ' |
Shares issued for prepaid expenses | ' | 103,500 |
Shares transferred between related parties for mineral claims | ' | 6,654 |
Shares issued for purchase of mineral claims (in Shares) | ' | 392,400 |
Liability accrued for purchase of mineral claims | ' | 70,000 |
Fair value of derivative liability | 206,237 | 7,102 |
Shares issued for stock payable (in Shares) | 167,400 | ' |
Shares issued for accounts payable | $208,341 | ' |
Shares issued for convertible debts (in Shares) | 330,834 | ' |
NOTE_1_DESCRIPTION_OF_BUSINESS
NOTE 1 - DESCRIPTION OF BUSINESS | 9 Months Ended |
Apr. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Business Description and Basis of Presentation [Text Block] | ' |
NOTE 1 – DESCRIPTION OF BUSINESS | |
Santo Mining Corp. (referred to as we, the “Company” or “Santo Mining”) was incorporated in the State of Nevada on July 8, 2009. | |
The Company’s original business operations were divided into two segments: 1) through an informative and interactive website, where both dentists and patients can access dental information and have online consultations; and 2) mobile teeth whitening service. | |
In 2012, the Company’s management decided to redirect the Company’s business focus towards identifying and pursuing options regarding the acquisition of mineral exploration property with the focus on gold and other precious metals in north western Dominican Republic. | |
On July 30, 2012, the Company entered into a mineral property acquisition agreement (the "Acquisition Agreement") with GEXPLO, SRL (the "Vendor") and Rosa Habeila Feliz Ruiz, the Company’s former officer and director, whereby the Company agreed to acquire from the Vendor an undivided one hundred percent (100%) interest in and to a mineral claim known as Alexia, which is located in the province of Dajabon, in the municipalities of Dajabon and Partido, specifically in the sections Chaucey, La Gorra and Partido Arriba, covering Los Indios, Pueblo Nuevo, Hatico Viejo, El Junco, La Gallina, Tahuique and Charo located in the Dajabon 5874-I (11) and Loma de Cabrera 5874-II (19) topographical sheets. Pursuant to the terms of the Acquisition Agreement, in consideration of an undivided 100% interest in and to the Alexia Claim, the Vendor received 6,456,600 shares of the Company’s common stock transferred from Ms. Ruiz and the cancellation of the promissory note for $59,770 from the Company to the Vendor dated May 31, 2012. | |
After the Company completed its acquisition of Alexia, the Company began to operate in the mining business. |
NOTE_2_SUMMARY_OF_SIGNIFICANT_
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended | |||||||
Apr. 30, 2014 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Significant Accounting Policies [Text Block] | ' | |||||||
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||
The summary of significant accounting policies presented below is designed to assist in understanding Santo Mining’s financial statements. Such financial statements and accompanying notes are the representations of the Company’s management, which is responsible for the integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) in all material respects and have been consistently applied in preparing the accompanying financial statements. | ||||||||
Use of Estimates | ||||||||
The Company prepares its financial statements in conformity with GAAP, which 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. | ||||||||
Foreign Currency Adjustments—Functional Currency is the U.S. Dollar | ||||||||
The Company's functional currency for all operations worldwide is the U.S. dollar. Nonmonetary assets and liabilities are translated at historical rates and monetary assets and liabilities are translated at exchange rates in effect at the end of the year. Income statement accounts are translated at average rates for the year. Any translation adjustments are reflected as a separate component of stockholders’ equity and have no effect on current earnings. Gains and losses resulting from foreign currency transactions are included in current results of operations. | ||||||||
Reclassifications | ||||||||
Certain amounts have been reclassified to conform to the current period presentation. | ||||||||
Cash and Cash Equivalents | ||||||||
Santo Mining considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. | ||||||||
Mineral Exploration and Development Costs | ||||||||
All exploration expenditures are expensed as incurred. Costs of acquisition and option costs of mineral rights are capitalized upon acquisition. Mine development costs incurred to develop new ore deposits, to expand the capacity of mines or to develop mine areas substantially in advance of production are also capitalized once proven and probable reserves exist, and the property is determined to be a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. If the Company does not continue with exploration after the completion of the feasibility study, the cost of mineral rights will be expensed at that time. Costs of abandoned projects, including related property and equipment costs, are charged to mining costs. To determine if these costs are in excess of their recoverable amount, periodic evaluations of the carrying value of capitalized costs and any related property and equipment costs are performed. These evaluations are based upon expected future cash flows and/or estimated salvage value. And no impairment charges have been recorded by the Company. As of April 30, 2014, the Company capitalized $186,915 of mineral claim acquisition costs. | ||||||||
Website | ||||||||
Website is carried at cost, with amortization provided on a straight-line basis over its estimated useful lives of five years. The Company determined during the nine months ended April 30, 2014, it will no longer use the website previously purchased and impaired the remaining book value of $2,859. | ||||||||
Income Taxes | ||||||||
Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company computes a deferred tax asset for net operating losses carried forward. The potential benefit of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years. | ||||||||
Fair Value Measurement | ||||||||
The Company values its derivative instruments under FASB ASC 820 which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. | ||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). | ||||||||
The three levels of the fair value hierarchy are as follows: | ||||||||
Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities. | ||||||||
Level 2 – Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reported date. | ||||||||
Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. The Company uses Level 3 to value its derivative instruments. | ||||||||
The following table sets forth by level with the fair value hierarchy the Company’s financial assets and liabilities measured at fair value on April 30, 2014. | ||||||||
Level 1 | Level 2 | Level 3 | Total | |||||
Liabilities | ||||||||
Derivative liability | $ - | $ - | $ 300,605 | $ 300,605 | ||||
Stock-based Compensation | ||||||||
The Company estimates the fair value of each stock option award at the grant date by using the Black-Scholes option pricing model and common shares based on the last quoted market price of the Company’s common stock on the date of the share grant. The fair value determined represents the cost for the award and is recognized over the vesting period during which an employee is required to provide service in exchange for the award. As share-based compensation expense is recognized based on awards ultimately expected to vest, the Company reduces the expense for estimated forfeitures based on historical forfeiture rates. Previously recognized compensation costs may be adjusted to reflect the actual for feature rate for the entire award at the end of the vesting period. Excess tax benefits, if any, are recognized as an addition to paid-in capital. | ||||||||
Basic and Diluted Earnings (Loss) Per Common Share | ||||||||
The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an “as converted” basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For all periods presented, there were no potentially dilutive securities outstanding. | ||||||||
Subsequent Events | ||||||||
The Company evaluated events subsequent to April 30, 2014 through the date the financial statements were issued for disclosure considerations. | ||||||||
Recently Issued Accounting Pronouncements | ||||||||
In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders’ equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company evaluated and adopted ASU 2014-10 for the reporting period ended April 30, 2014. |
NOTE_3_GOING_CONCERN
NOTE 3. - GOING CONCERN | 9 Months Ended |
Apr. 30, 2014 | |
Going Concern Note [Abstract] | ' |
Going Concern Note | ' |
NOTE 3 – GOING CONCERN | |
These financial statements have been prepared on a going concern basis, which implies Santo Mining will continue to meet its obligations and continue its operations for the next twelve months. As of April 30, 2014, Santo Mining has not generated revenues, has working capital deficit and has accumulated losses of $2,898,972 since its inception. These factors raise substantial doubt regarding Santo Mining’s ability to continue as a going concern. The continuation of Santo Mining as a going concern is dependent upon financial support from its stockholders, the ability of Santo Mining to obtain necessary equity financing to continue operations, and the attainment of profitable operations. Realization value may be substantially different from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should Santo Mining be unable to continue as a going concern. |
NOTE_4_MINERAL_CLAIMS
NOTE 4. - MINERAL CLAIMS | 9 Months Ended |
Apr. 30, 2014 | |
Impaired Long-Lived Assets Held and Used, Method for Determining Fair Value [Abstract] | ' |
Impaired Long-Lived Assets Held and Used, Method for Determining Fair Value | ' |
NOTE 4 – MINERAL CLAIMS | |
When this report uses the word “property” or “claim” it refers to a “concession application” which according to the Dominican Mining Law grants the holder with certain preferential rights including future exclusive rights to prospect, explore and exploit metallic minerals within its designated boundaries. | |
On July 30, 2012, under the Acquisition Agreement, Ms. Ruiz agreed to transfer 6,456,600 shares of the Company’s common stock she owned to GEXPLO SRL (“GEXPLO”), a company owned by Mr. Alain French, the Company’s new President, Chief Executive Officer and Director, for a mineral right previously owned by GEXPLO. The Company recorded $4,142 (original costs incurred by GEXPLO to obtain the claim) for the mineral right and the same amount in paid-in capital for the shares transferred as the result of this related party transaction. | |
On September 17, 2012, the Company exercised its right of first refusal to purchase two additional mineral properties, the Walter Claim and the Maria Claim, from GEXPLO pursuant to the Acquisition Agreement. In exchange for the Walter Claim and the Maria Claim, Rosa Habeila Feliz Ruiz, the Secretary of the Company, transferred 13,181,460 of her shares of the Company’s common stock to the Vendor. The Vendor is owned by Alain French, our President, Chief Executive Officer and Director. | |
On October 12, 2012, the Company amended the Acquisition Agreement with GEXPLO and Rosa Habeila Feliz Ruiz, an officer and director of the Company. Pursuant to the Amendment, the Company would no longer have right of first refusal to purchase the Shalee and Daniel claims and instead would have right of first refusal to purchase the Henry, Francesca, Kato f/k/a Eliza, and Nathaniel claims. | |
On October 12, 2012, the Company exercised its right of first refusal to purchase four additional mineral properties, the Henry Claim, the Francesca Claim, the Kato f/k/a Claim and the Nathaniel Claim, from the Vendor pursuant to the Acquisition Agreement. In exchange for the Claims, Rosa Habeila Feliz Ruiz transferred 12,644,943 of her shares of the Company’s common stock to the Vendor. The Vendor is owned by Alain French, our President, Chief Executive Officer and Director. | |
On March 25, 2013, the Company agreed to purchase from Alain French 100% right, title and interest in the “RICHARD” Mineral Exploration Concession Application in the Dominican Republic, consisting of 220 Hectares located in Dominican Republic, and any deposits of minerals on RICHARD for $10,000 cash and 1,000,000 shares of the Company’s common stock, par value $0.00001. As of July 31, 2013, the Company has recorded mineral claims of $10,000 for the costs incurred by Mr. French. The Company also recorded stock-based compensation and a stock payable in the amount of $167,400 for the 1,000,000 shares to be issued to Mr. French. | |
On April 3, 2013, the Company agreed to purchase from Alain French 100% right, title and interest in the “CHARLES” Mineral Exploration Concession Application in the Dominican Republic consisting of 220 Hectares located in Dominican Republic, and any deposits of minerals on CHARLES for an initial payment of $10,000 at closing, a second payment of $50,000 in 90 days, and 1,500,000 shares of the Company’s common stock, par value $0.00001. As of April 30, 2014, the Company has recorded mineral claims of $60,000 for the costs incurred by Mr. French. The Company also recorded stock-based compensation and a stock payable in the amount of $225,000 for the 1,500,000 shares to be issued to Mr. French. | |
In 2013, the Company recorded $6,654 (original costs incurred by GEXPLO to obtain the claim) for the mineral right and the same amount in paid-in capital for the shares transferred as the result of this related party transaction. | |
In November 2013, the Company made $100,000 deposit to Campania Minera Los Angeles Del Desierto CA De CV, a Mexican company pursuant to the License Agreement entered in March 2013 to develop and mine three metallic concessions located in Mexico. The Company is required to make payments totaling $210,000 and 1,000,000 shares of the Company’s common stock. |
NOTE_5_RELATED_PARTY_TRANSACTI
NOTE 5. - RELATED PARTY TRANSACTIONS | 9 Months Ended |
Apr. 30, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
NOTE 5 – RELATED PARTY TRANSACTIONS | |
As of April 30, 2014 and July 31, 2013, the Company had a payable of $79,696 to Ms. Ruiz, a former officer and director of the Company, for the advances she made to the Company to cover incorporation costs of the Company and ongoing legal and accounting fees related to the Company’s SEC reporting obligations. These advances bear no interest, are unsecured and are due on demand. | |
On May 31, 2012, the Company entered into a promissory note with GEXPLO, SRL, a company owned by the Company’s then corporate secretary (and current President, Secretary, Treasurer and Director), Mr. Alain French. The total amount loaned was $59,770 as of May 31, 2012 for exploration expenses that the Company paid on GEXPLO’s behalf for Alexia Claim which was acquired by the Company in July 2012. The loan is non-interest bearing and matured on December 31, 2012. The loan was cancelled by the Company as consideration in the Acquisition Agreement, on July 30, 2012. See Note 4 for the shares transferred between Ms. Ruiz and GEXPLO. | |
Through April 30, 2014, the Company had made advances to GEXPLO, a company owned by the Company's President, Secretary, Treasurer and Director, for a total of $140,142 for exploration expenses he was going to pay on the Company's behalf. These advances were originally recorded as deposit. During the nine months ended April 30, 2014, GEXPLO paid the Company’s exploration expense and the entire deposit amount was expensed by the Company. | |
As described in Note 4, as of April 30, 2014, the Company accrued related party payable of $70,000 for mineral claims, the Richard Claim and the Charles Claim, the Company acquired from Alain French during the third quarter of 2013. |
NOTE_6_CONVERTIBLE_NOTES
NOTE 6. - CONVERTIBLE NOTES | 9 Months Ended | |||||||||||||||||
Apr. 30, 2014 | ||||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||||
Debt Disclosure [Text Block] | ' | |||||||||||||||||
NOTE 6 – CONVERTIBLE NOTES PAYABLE | ||||||||||||||||||
On April 16, 2013, the Company borrowed $53,000 from Asher Enterprises, Inc. (“Asher”) under a Convertible Promissory Note. The note is unsecured, bears interest at 8% per annum and matures on January 22, 2014. The note is convertible into common stock of the Company and the conversion price shall equal the variable conversion price of 47% multiplied by the average of the lowest three (3) trading prices for the common stock during the thirty (30) trading day period ending on the latest complete trading day prior to the conversion date. | ||||||||||||||||||
On July 1, 2013, the Company borrowed $32,500 from Asher under a Convertible Promissory Note. The note is unsecured, bears interest at 8% per annum and matures on April 3, 2014. The note is convertible into common stock of the Company and the conversion price shall equal the variable conversion price of 50% multiplied by the average of the lowest three (3) trading prices for the common stock during the thirty (30) trading day period ending on the latest complete trading day prior to the conversion date. | ||||||||||||||||||
On October 23, 2013, the Company borrowed $32,500 from Asher under a Convertible Promissory Note. The note is unsecured, bears interest at 8% per annum and matures on July 25, 2014. The note is convertible into common stock of the Company and the conversion price shall equal the variable conversion price of 50% multiplied by the average of the lowest three (3) trading prices for the common stock during the thirty (30) trading day period ending on the latest complete trading day prior to the conversion date. | ||||||||||||||||||
On January 8, 2014, the Company borrowed $32,500 from Asher under a Convertible Promissory Note. The note is unsecured, bears interest at 8% per annum and matures on October 10, 2014. The note is convertible into common stock of the Company and the conversion price shall equal the variable conversion price of 50% multiplied by the average of the lowest three (3) trading prices for the common stock during the thirty (30) trading day period ending on the latest complete trading day prior to the conversion date. | ||||||||||||||||||
On March 20, 2014, the Company borrowed $32,500 from Asher under a Convertible Promissory Note. The note is unsecured, bears interest at 8% per annum and matures on December 20, 2014. The note is convertible into common stock of the Company and the conversion price shall equal the variable conversion price of 50% multiplied by the average of the lowest three (3) trading prices for the common stock during the thirty (30) trading day period ending on the latest complete trading day prior to the conversion date. | ||||||||||||||||||
The Company analyzed the Asher Notes for derivative accounting consideration under FASB ASC 470 and determined that the embedded conversion feature qualified for accounting treatment as a financial derivative (See Note 7). | ||||||||||||||||||
For the nine months ended April 30, 2014, the Company recorded a debt discount of $96,705, as result of the embedded conversion feature being a financial derivative, for proceeds received. | ||||||||||||||||||
The discounts on these convertible notes are amortized by the Company through interest expense over the life of the notes. During the nine months ended April 30, 2014, the Company recorded $144,232 amortization of the debt discount on the Asher Notes. | ||||||||||||||||||
A summary of value changes to Asher Notes for the period ended from July 31, 2013 to April 30, 2014 is as follows: | ||||||||||||||||||
Asher | Asher | Asher | Asher | Asher | Total | |||||||||||||
Note #1 | Note #2 | Note #3 | Note #4 | Note #5 | ||||||||||||||
Carrying value at July 31, 2013 | $ | 19,993 | $ | 3,533 | $ | - | $ | - | $ | - | $ | 23,526 | ||||||
Additional borrowing | - | - | 32,500 | 32,500 | 32,500 | 97,500 | ||||||||||||
Less: repayment of principal | -53,000 | -32,500 | -32,500 | -12,794 | - | -130,794 | ||||||||||||
Less: discount related to fair value of the embedded | ||||||||||||||||||
conversion feature | - | - | -32,500 | -31,705 | -32,500 | -96,705 | ||||||||||||
Add: amortization of discount | 33,007 | 28,967 | 32,500 | 30,310 | 19,448 | 144,232 | ||||||||||||
Carrying value at April 30, 2014 | $ | - | $ | - | $ | - | $ | 18,311 | $ | 19,448 | $ | 37,759 | ||||||
On June 12, 2013, the Company issued to JMJ Financial (“JMJ”) convertible promissory note in the principal amount of $335,000 (the “Note”) with a maturity date of one year from the effective date of each payment for total consideration of $300,000 (the “Consideration”) (there was an original issue discount (the “OID”) of $35,000). As of July 31, 2013, the Company received $60,000 cash from JMJ and recorded $7,000 OID. The interest rate of the Note is 0% if repaid within the first 90 days, and shall increase to 12% after 90 days. | ||||||||||||||||||
On September 25, 2013 and December 10, 2013, JMJ advanced the Company additional $25,000 and $30,000, respectively. The Company recorded $2,917 original issuance discount on the September 25 advances. | ||||||||||||||||||
On March 31, 2014, JMJ advanced the Company an additional $20,000. The Company recorded a $20,000 discount on the advance. | ||||||||||||||||||
Pursuant to the terms of the Note, JMJ may elect to convert all or part of the outstanding unpaid principal and accrued interest into shares of the Company’s common stock (up to an amount that would result in JMJ Financial holding no more than 4.99% of the outstanding shares of common stock of the Company) at a conversion price of the lesser of: (i) $0.138, or (ii) 60% of the lowest trade price in the 25 trading days preceding the conversion. | ||||||||||||||||||
The Company analyzed the Convertible Promissory Notes for derivative accounting consideration under FASB ASC 470 and determined that the embedded conversion feature qualified for accounting treatment as a financial derivative (See Note 7). | ||||||||||||||||||
For the six months ended April 30, 2014, the Company recorded a debt discount of $65,384, as result of the embedded conversion feature being a financial derivative, for proceeds received. | ||||||||||||||||||
The discounts on these convertible notes are amortized by the Company through interest expense over the life of the notes. During the nine months ended April 30, 2014, the Company recorded $75,797 amortization of the debt discount on the JMJ Notes. | ||||||||||||||||||
A summary of value changes to JMJ Notes for the period ended from July 31, 2013 to April 30, 2014 is as follows: | ||||||||||||||||||
JMJ Note #1 | JMJ Note #2 | JMJ Note #3 | JMJ Note #4 | Total | ||||||||||||||
Carrying value at July 31, 2013 | $ | 17,890 | $ | - | $ | - | $ | - | $ | 17,890 | ||||||||
Additional borrowing | 27,917 | 30,000 | 20,000 | 77,917 | ||||||||||||||
Less: repayment of principal | -18,432 | - | - | - | -18,432 | |||||||||||||
Less: discount related to fair value of | ||||||||||||||||||
the embedded conversion feature | - | -20,129 | -22,338 | -20,000 | -62,467 | |||||||||||||
Less: original issuance discount | - | -2,917 | - | - | -2,917 | |||||||||||||
Add: amortization of discount | 50,837 | 13,701 | 8,629 | 2,630 | 75,797 | |||||||||||||
Carrying value at April 30, 2014 | $ | 50,295 | $ | 18,572 | $ | 16,291 | $ | 2,630 | $ | 87,788 | ||||||||
Hanover Notes: | ||||||||||||||||||
On February 6, 2014, the Company issued a 8% Convertible Promissory Note (the “Hanover Note”) to Hanover, in the principal amount of $90,000, with a maturity date of December 7, 2014. The Note is convertible into shares of the Company’s common stock at any time beginning on the date that is 180 days following the date of the Note and ending on the Maturity Date, at a fixed price of $0.06 per share. The Note is subject to customary default provisions, including failure to issue common stock upon conversion. Upon the occurrence of an event of default, the interest rate shall be increased to 18% per annum. | ||||||||||||||||||
LG Capital Notes: | ||||||||||||||||||
On April 4, 2014, the Company issued a 10% Convertible Promissory Note (the “LG Capital Note”) to LG Capital, in the principal amount of $40,000, with a maturity date of April 4, 2015. The Note is convertible into shares of the Company’s common stock at any time beginning on the date that is 180 days following the date of the Note and ending on the Maturity Date, at a price for each share of Common Stock equal to 50% of the lowest closing bid price for the twenty prior trading days including the date of conversion. The Company recorded a debt discount for the beneficial conversion feature calculated in the amount of $40,000. During the nine months ended April 30, 2014, the Company recorded $2,849 amortization of the debt discount on the LG Capital Notes. Upon the occurrence of an event of default, the interest rate shall be increased to 24% per annum. |
NOTE_7_DERIVATIVE_LIABILITY
NOTE 7 - DERIVATIVE LIABILITY | 9 Months Ended | |||||
Apr. 30, 2014 | ||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | |||||
NOTE 7 – DERIVATIVE LIABILITY | ||||||
The Company has determined that the variable conversion price under its Asher and JMJ notes causes the embedded conversion feature to be a financial derivative. The Company may not have enough authorized common shares to settle its obligation if the note holder elects to convert the note to common shares when the trading price is lower than certain threshold. | ||||||
The fair value of the conversion feature is recognized as a financial derivative at issuance and is measured at fair value at each reporting period. The fair values of the financial derivative were calculated using a modified binomial valuation model with the following assumptions at the loan origination date and April 30, 2014: | ||||||
July 31, | On Various Debt | April 30, | ||||
2013 | Origination Date | 2014 | ||||
Market value of common stock on measurement date (1) | $0.11 | $0.0013 - $0.0024 | $0.00 | |||
Adjusted conversion price (2) | 0.083 | 0.001 – 0.004 | $0.00 | |||
Risk free interest rate (3) | 0.04% - 0.08% | 0.02% - 0.11% | 0.02% - 0.11% | |||
Life of the note in years | 0.48 - 0.86 | 0.0 - 0.65 | 0.0 - 0.65 | |||
Expected volatility (4) | 192% | 223% | 220% | |||
Expected dividend yield (5) | - | - | - | |||
(1) The market value of common stock is based on closing market price as of July 31, 2013, on each debt origination date and April 30, 2014. | ||||||
(2) The adjusted conversion price is calculated based on conversion terms described in the note agreement. | ||||||
(3) The risk-free interest rate was determined by management using the 1 year Treasury Bill as of the respective Offering or measurement date. | ||||||
(4) The volatility factor was estimated by management using the historical volatilities of the Company’s stock. | ||||||
(5) Management determined the dividend yield to be 0% based upon its expectation that it will not pay dividends for the foreseeable future. | ||||||
The following table provides a summary of the changes in fair value of the derivative financial instruments measured at fair value on a recurring basis using significant unobservable inputs: | ||||||
Financial Derivatives | ||||||
Fair value at July 31, 2013 | $ | 149,451 | ||||
Fair value of new financial derivatives | 206,237 | |||||
Change in fair value of derivative liability | -55,083 | |||||
Fair value at April 30, 2014 | $ | 300,605 | ||||
NOTE_8_EQUITY_TRANSACTIONS
NOTE 8 - EQUITY TRANSACTIONS | 9 Months Ended |
Apr. 30, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' |
NOTE 8 – EQUITY TRANSACTIONS | |
During the nine months ended April 30, 2014, the Company had the following equity transactions: | |
Preferred Stock | |
On March 11, 2014, the board of directors of the Company determined that it was in the best interests of the Company to file a Certificate of Designation that authorized the issuance of up to 500,000 shares of a new series of preferred stock, par value $0.00001 per share, designated "Series A Preferred Stock," for which the board of directors established the rights, preferences and limitations thereof. The board of directors authorized the Series A Preferred Stock pursuant to the authority given to the board of directors under the Articles of Incorporation, which authorizes the issuance of up to 500,000,000 shares of preferred stock, par value $0.00001 per share, and authorizes the board of directors, by resolution, to establish any or all of the unissued shares of preferred stock, not then allocated to any series into one or more series and to fix and determine the designation of each such shares, the number of shares which shall constitute such series and certain preferences, limitations and relative rights of the shares of each series so established. The Certificate of Designation was filed as an amendment to the Company’s Articles of Incorporation with the State of Nevada on March 11, 2014. | |
Each holder of outstanding shares of Series A Preferred Stock shall be entitled to 5,000 votes for each share of Series A Preferred Stock held on the record date for the determination of stockholders entitled to vote at each meeting of stockholders of the Company. | |
On March 13, 2014, the Company filed an amendment to the Company’s articles of incorporation with the Secretary of State of Nevada, to increase the Company’s authorized common stock from 450,000,000 shares of common stock, par value $0.00001 per share, to 5,000,000,000 shares of common stock, par value $0.00001 per share. | |
On March 11, 2014, the Company issued an aggregate of 100,000 shares of Series A Preferred Stock to Mr. Alain French, the Company’s President, Chief Executive Officer, Secretary and Treasurer, in consideration for services rendered to the Company, including for and as incentive to continue to assist and provide services to the Company. These shares were valued at $100,871. | |
As a holder of outstanding shares of Series A Preferred Stock, Mr. French is entitled to 5,000 votes for each share of Series A Preferred Stock held on the record date for the determination of stockholders entitled to vote at each meeting of stockholders of the Company. | |
The shares of preferred stock described above were not registered under the Securities Act of 1933 and are restricted securities. The shares were issued pursuant to the registration exemption afforded the Company under Section 4(2) of the Securities Act due to the fact that Mr. French is the Chief Executive Officer and Director of the Company. Mr. French acquired these shares for his own account. The certificates representing these shares will bear a restricted legend providing that they cannot be sold except pursuant to an effective registration statement or an exemption from registration. | |
Common Stock | |
On August 14, 2013, the Company and Hanover executed an addendum (the “Addendum”) to the Purchase Agreement, pursuant to which Hanover would receive 536,172 of the shares on August 14, 2013 and 536,171 of the shares if the registration statement was not deemed effective within 30 calendar days. The first 536,172 shares, valued at $42,358, were issued by the Company and the expense was recorded. On January 22, 2014, the Company and Hanover entered into a termination agreement (the “Termination Agreement”), to cancel the Agreements, the Addendum, and all of the transactions contemplated thereby. Pursuant to the Termination Agreement, Hanover has agreed to cancel all shares of the Company’s common stock previously issued to Hanover, and to cancel the Company’s obligation to issue the final 536,171 shares. | |
6,000,000 shares of the Company’s common stock, valued at $16,800, were issued to a vendor for services. | |
1,000,000 shares of the Company’s common stock were issued to Campania Minera Los Angeles Del Desierto CA De CV, for the stock payable of 167,400 previously recorded by the Company. | |
137,814,179 shares of common stock, with a fair value of $330,834, were issued to several creditors for the conversion of outstanding convertible debts. | |
2,226,656 shares of common stock were cancelled by the Company. | |
On October 2, 2013, the Company entered into an Amended Settlement and Agreement and Release (the “Settlement Agreement”) with IBC Funds, LLC, a Nevada limited liability company (“IBC”) pursuant to which the Company agreed to issue common stock to IBC in exchange for the settlement of $123,028 (the “Settlement Amount”) of past-due accounts payable of the Company. | |
Pursuant to the terms of the Settlement Agreement approved by the Order, on October 3, 2013, the Company agreed to issue to IBC shares (the “Settlement Shares”) of the Company’s Common Stock. The Settlement Agreement provides that the Settlement Shares will be issued in one or more tranches, as necessary, sufficient to satisfy the Settlement Amount through the issuance of freely trading securities issued pursuant to Section 3(a)(10) of the Securities Act. Pursuant to the Settlement Agreement, IBC may deliver a request to the Company which states the dollar amount (designated in U.S. Dollars) of Common Stock to be issued to IBC (the “Share Request”). The parties agree that the total amount of Common Stock to be delivered by the Company to satisfy the Share Request shall be issued at a forty-five percent (45%) discount to lowest price based upon the average of the volume weighted average price of the Common Stock over the ten (10) trading day period preceding the Share Request. Additional tranche requests shall be made as requested by IBC until the Settlement Amount is paid in full so long as the number of shares requested does not make IBC the owner of more than 4.99% of the outstanding shares of Common Stock at any given time. | |
On October 11, 2013, the Circuit Court of the Twelfth Judicial Circuit for Sarasota County, Florida (the “Court”), entered an order (the “Order”) approving, among other things, the fairness of the terms and conditions of an exchange pursuant to Section 3(a)(10) of the Securities Act of 1933, as amended (the “Securities Act”), in accordance with a stipulation of settlement, pursuant to the Settlement Agreement between the Company and IBC, in the matter entitled IBC Funds, LLC v. Santo Mining Corp. (the “Action”). IBC commenced the Action against the Company to recover an aggregate of $123,028 of past-due accounts payable of the Company (the “Claim”), which IBC had purchased from certain vendors of the Company pursuant to the terms of separate receivable purchase agreements between IBC and each of such vendors (the “Assigned Accounts”). The Assigned Accounts relate to certain legal, accounting, and financial services provided to the Company. The Order provides for the full and final settlement of the Claim and the Action. The Settlement Agreement became effective and binding upon the Company and IBC upon execution of the Order by the Court on October 11, 2013. | |
For the nine months ended April 30, 2014, the Company issued 79,315,583 shares of its common stock, valued at $208,341, to IBC to settle all outstanding debt. | |
As of April 30, 2014, the Company had 290,016,767 shares of common stock outstanding. |
NOTE_9_SUBSEQUENT_EVENTS
NOTE 9 - SUBSEQUENT EVENTS | 9 Months Ended |
Apr. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
NOTE 9 – SUBSEQUENT EVENTS | |
Subsequent to April 30, 2014, 132,330,186 shares of common stock were issued to several creditors for the conversion of outstanding convertible debts. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Apr. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates | |
The Company prepares its financial statements in conformity with GAAP, which 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 | |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' |
Foreign Currency Adjustments—Functional Currency is the U.S. Dollar | |
The Company's functional currency for all operations worldwide is the U.S. dollar. Nonmonetary assets and liabilities are translated at historical rates and monetary assets and liabilities are translated at exchange rates in effect at the end of the year. Income statement accounts are translated at average rates for the year. Any translation adjustments are reflected as a separate component of stockholders’ equity and have no effect on current earnings. Gains and losses resulting from foreign currency transactions are included in current results of operations | |
Reclassifications [Text Block] | ' |
Certain amounts have been reclassified to conform to the current period presentation | |
Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
Cash and Cash Equivalents | |
Santo Mining considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents | |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' |
Mineral Exploration and Development Costs | |
All exploration expenditures are expensed as incurred. Costs of acquisition and option costs of mineral rights are capitalized upon acquisition. Mine development costs incurred to develop new ore deposits, to expand the capacity of mines or to develop mine areas substantially in advance of production are also capitalized once proven and probable reserves exist, and the property is determined to be a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. If the Company does not continue with exploration after the completion of the feasibility study, the cost of mineral rights will be expensed at that time. Costs of abandoned projects, including related property and equipment costs, are charged to mining costs. To determine if these costs are in excess of their recoverable amount, periodic evaluations of the carrying value of capitalized costs and any related property and equipment costs are performed. These evaluations are based upon expected future cash flows and/or estimated salvage value. And no impairment charges have been recorded by the Company. As of April 30, 2014, the Company capitalized $186,915 of mineral claim acquisition costs | |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | ' |
Website | |
Website is carried at cost, with amortization provided on a straight-line basis over its estimated useful lives of five years. The Company determined during the nine months ended April 30, 2014, it will no longer use the website previously purchased and impaired the remaining book value | |
Income Tax, Policy [Policy Text Block] | ' |
Income Taxes | |
Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company computes a deferred tax asset for net operating losses carried forward. The potential benefit of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years | |
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' |
Fair Value Measurement | |
The Company values its derivative instruments under FASB ASC 820 which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. | |
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). | |
The three levels of the fair value hierarchy are as follows: | |
Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities. | |
Level 2 – Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reported date. | |
Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. The Company uses Level 3 to value its derivative instruments. | |
The following table sets forth by level with the fair value hierarchy the Company’s financial assets and liabilities measured at fair value on April 30, 2014 | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' |
Stock-based Compensation | |
The Company estimates the fair value of each stock option award at the grant date by using the Black-Scholes option pricing model and common shares based on the last quoted market price of the Company’s common stock on the date of the share grant. The fair value determined represents the cost for the award and is recognized over the vesting period during which an employee is required to provide service in exchange for the award. As share-based compensation expense is recognized based on awards ultimately expected to vest, the Company reduces the expense for estimated forfeitures based on historical forfeiture rates. Previously recognized compensation costs may be adjusted to reflect the actual for feature rate for the entire award at the end of the vesting period. Excess tax benefits, if any, are recognized as an addition to paid-in capital | |
Earnings Per Share, Policy [Policy Text Block] | ' |
Basic and Diluted Earnings (Loss) Per Common Share | |
The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an “as converted” basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For all periods presented, there were no potentially dilutive securities outstanding | |
Subsequent Events, Policy [Policy Text Block] | ' |
Subsequent Events | |
The Company evaluated events subsequent to April 30, 2014 through the date the financial statements were issued for disclosure considerations | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | ' |
Recently Issued Accounting Pronouncements |
NOTE_2_SUMMARY_OF_SIGNIFICANT_1
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended | |||||||
Apr. 30, 2014 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Schedule of Derivative Assets at Fair Value [Table Text Block] | ' | |||||||
Level 1 | Level 2 | Level 3 | Total | |||||
Liabilities | ||||||||
Derivative liability | $ - | $ - | $ 300,605 | $ 300,605 |
NOTE_6_CONVERTIBLE_NOTES_Table
NOTE 6. - CONVERTIBLE NOTES (Tables) | 9 Months Ended | |||||||||||||||||
Apr. 30, 2014 | ||||||||||||||||||
AsherNote | ' | |||||||||||||||||
NOTE 6. - CONVERTIBLE NOTES (Tables) [Line Items] | ' | |||||||||||||||||
Schedule of Debt [Table Text Block] | ' | |||||||||||||||||
Asher | Asher | Asher | Asher | Asher | Total | |||||||||||||
Note #1 | Note #2 | Note #3 | Note #4 | Note #5 | ||||||||||||||
Carrying value at July 31, 2013 | $ | 19,993 | $ | 3,533 | $ | - | $ | - | $ | - | $ | 23,526 | ||||||
Additional borrowing | - | - | 32,500 | 32,500 | 32,500 | 97,500 | ||||||||||||
Less: repayment of principal | -53,000 | -32,500 | -32,500 | -12,794 | - | -130,794 | ||||||||||||
Less: discount related to fair value of the embedded | ||||||||||||||||||
conversion feature | - | - | -32,500 | -31,705 | -32,500 | -96,705 | ||||||||||||
Add: amortization of discount | 33,007 | 28,967 | 32,500 | 30,310 | 19,448 | 144,232 | ||||||||||||
Carrying value at April 30, 2014 | $ | - | $ | - | $ | - | $ | 18,311 | $ | 19,448 | $ | 37,759 | ||||||
JMJFinancial | ' | |||||||||||||||||
NOTE 6. - CONVERTIBLE NOTES (Tables) [Line Items] | ' | |||||||||||||||||
Schedule of Debt [Table Text Block] | ' | |||||||||||||||||
JMJ Note #1 | JMJ Note #2 | JMJ Note #3 | JMJ Note #4 | Total | ||||||||||||||
Carrying value at July 31, 2013 | $ | 17,890 | $ | - | $ | - | $ | - | $ | 17,890 | ||||||||
Additional borrowing | 27,917 | 30,000 | 20,000 | 77,917 | ||||||||||||||
Less: repayment of principal | -18,432 | - | - | - | -18,432 | |||||||||||||
Less: discount related to fair value of | ||||||||||||||||||
the embedded conversion feature | - | -20,129 | -22,338 | -20,000 | -62,467 | |||||||||||||
Less: original issuance discount | - | -2,917 | - | - | -2,917 | |||||||||||||
Add: amortization of discount | 50,837 | 13,701 | 8,629 | 2,630 | 75,797 | |||||||||||||
Carrying value at April 30, 2014 | $ | 50,295 | $ | 18,572 | $ | 16,291 | $ | 2,630 | $ | 87,788 |
NOTE_7_DERIVATIVE_LIABILITY_Ta
NOTE 7 - DERIVATIVE LIABILITY (Tables) | 9 Months Ended | |||||
Apr. 30, 2014 | ||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||
July 31, | On Various Debt | April 30, | ||||
2013 | Origination Date | 2014 | ||||
Market value of common stock on measurement date (1) | $0.11 | $0.0013 - $0.0024 | $0.00 | |||
Adjusted conversion price (2) | 0.083 | 0.001 – 0.004 | $0.00 | |||
Risk free interest rate (3) | 0.04% - 0.08% | 0.02% - 0.11% | 0.02% - 0.11% | |||
Life of the note in years | 0.48 - 0.86 | 0.0 - 0.65 | 0.0 - 0.65 | |||
Expected volatility (4) | 192% | 223% | 220% | |||
Expected dividend yield (5) | - | - | - | |||
Schedule of Derivative Instruments [Table Text Block] | ' | |||||
Financial Derivatives | ||||||
Fair value at July 31, 2013 | $ | 149,451 | ||||
Fair value of new financial derivatives | 206,237 | |||||
Change in fair value of derivative liability | -55,083 | |||||
Fair value at April 30, 2014 | $ | 300,605 |
NOTE_1_DESCRIPTION_OF_BUSINESS1
NOTE 1 - DESCRIPTION OF BUSINESS (Details) (USD $) | 0 Months Ended | 9 Months Ended | |||
Jul. 30, 2012 | Dec. 31, 2014 | Apr. 30, 2014 | Jul. 31, 2013 | Apr. 30, 2013 | |
Disclosure Text Block [Abstract] | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Acquisitions | 6,456,600 | ' | ' | ' | 392,400 |
Stock Repurchased During Period, Value | $59,770 | $0.00 | $0.00 | $0.11 | ' |
NOTE_2_SUMMARY_OF_SIGNIFICANT_2
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $) | 9 Months Ended | ||
Apr. 30, 2014 | Jul. 31, 2013 | Apr. 03, 2013 | |
Accounting Policies [Abstract] | ' | ' | ' |
Mineral Rights | $186,915 | $225,000 | $10,000 |
Asset Impairment Charges | $2,859 | ' | ' |
NOTE_2_SUMMARY_OF_SIGNIFICANT_3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - The following table sets forth by level with the fair value hierarchy the Companybs financial assets (USD $) | Apr. 30, 2014 |
Liabilities | ' |
Derivative liability | $300,605 |
NOTE_3_GOING_CONCERN_Details
NOTE 3. - GOING CONCERN (Details) (USD $) | Apr. 30, 2014 |
Going Concern Note [Abstract] | ' |
Retained Earnings (Accumulated Deficit) | $2,898,972 |
NOTE_4_MINERAL_CLAIMS_Details
NOTE 4. - MINERAL CLAIMS (Details) (USD $) | 0 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||
Mar. 25, 2013 | Oct. 12, 2012 | Sep. 17, 2012 | Jun. 30, 2012 | Apr. 30, 2013 | Jul. 31, 2013 | Apr. 30, 2014 | Mar. 15, 2014 | Mar. 14, 2014 | Nov. 30, 2013 | Jul. 02, 2013 | Apr. 03, 2013 | Jul. 31, 2013 | Apr. 03, 2013 | Nov. 30, 2013 | |
RICHARD | CHARLES | CHARLES | |||||||||||||
NOTE 4. - MINERAL CLAIMS (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Purchase of Assets (in Shares) | 1,000,000 | 12,644,943 | 13,181,460 | 6,456,600 | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,500,000 | ' |
Stock Issued During Period, Value, Purchase of Assets | ' | ' | ' | $4,142 | ' | $6,654 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Acquisitions | 10,000 | ' | ' | ' | 103,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $0.00 | ' | ' | ' | ' | $0.00 | $0.00 | $0.00 | $0.00 | ' | ' | $0.00 | ' | ' | ' |
Related Party Transaction, Amounts of Transaction | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mineral Rights | ' | ' | ' | ' | ' | 225,000 | 186,915 | ' | ' | ' | ' | 10,000 | 167,400 | ' | 210,000 |
MineralRightsPayable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' |
MineralRightsPayableTerm | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90 | ' | ' | ' | ' |
Related Party Costs | ' | ' | ' | ' | ' | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deposits Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' |
MineralRightsFairValue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000 |
NOTE_5_RELATED_PARTY_TRANSACTI1
NOTE 5. - RELATED PARTY TRANSACTIONS (Details) (USD $) | 21 Months Ended | |||
Apr. 30, 2014 | 31-May-12 | Apr. 30, 2013 | Apr. 30, 2014 | |
RosaRuiz | GEXPLO | |||
NOTE 5. - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ' | ' | ' | ' |
Due to Related Parties | ' | $59,770 | $79,696 | $140,142 |
Related Party Transaction, Expenses from Transactions with Related Party | $70,000 | ' | ' | ' |
NOTE_6_CONVERTIBLE_NOTES_Detai
NOTE 6. - CONVERTIBLE NOTES (Details) (USD $) | 0 Months Ended | 1 Months Ended | 9 Months Ended | |||||||||||||||||
Apr. 03, 2014 | Apr. 04, 2014 | Mar. 20, 2014 | Feb. 06, 2014 | Jan. 08, 2014 | Oct. 23, 2013 | Jun. 12, 2013 | Feb. 22, 2014 | Apr. 30, 2014 | Dec. 31, 2014 | Apr. 07, 2014 | Mar. 31, 2014 | Feb. 07, 2014 | Sep. 25, 2013 | Sep. 24, 2013 | Sep. 12, 2013 | Jul. 31, 2013 | Jul. 12, 2013 | Jul. 01, 2013 | Apr. 19, 2013 | |
NOTE 6. - CONVERTIBLE NOTES (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Notes Payable | ' | ' | $32,500 | ' | $32,500 | $32,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $32,500 | $53,000 |
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | ' | ' | ' | ' | 8.00% | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | 8.00% |
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 50.00% | ' | 50.00% | 0.06% | 50.00% | 50.00% | 60.00% | 47.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate During Period | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Beneficial Conversion Feature | ' | 40,000 | ' | ' | ' | ' | ' | ' | -96,705 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable, Noncurrent | ' | ' | ' | 90,000 | ' | ' | ' | ' | ' | ' | 40,000 | 20,000 | ' | 25,000 | 2,917 | ' | 60,000 | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000 | ' | 30,000 | ' | ' | 65,384 | 35,000 | ' | ' |
Derivative, Fixed Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ' | ' | ' | ' |
Sale of Stock, Percentage of Ownership after Transaction | ' | ' | ' | ' | ' | ' | 4.99% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | $0.14 | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | $0.08 | ' | ' | ' |
Amortization of Debt Discount (Premium) | ' | 2,849 | ' | ' | ' | ' | ' | ' | 75,797 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' | 18.00% | ' | ' | ' | ' | ' | ' | ' |
JMJFinancial | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NOTE 6. - CONVERTIBLE NOTES (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable, Noncurrent | ' | ' | ' | ' | ' | ' | 335,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000 | ' | ' | ' |
Amortization of Debt Discount (Premium) | ' | ' | ' | ' | ' | ' | ' | ' | 75,797 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
PromissoryNote | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NOTE 6. - CONVERTIBLE NOTES (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Beneficial Conversion Feature | ' | ' | ' | ' | ' | ' | ' | ' | ($96,705) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NOTE_6_CONVERTIBLE_NOTES_Detai1
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Note for the period ended April 30, 2013 is (USD $) | 0 Months Ended | 9 Months Ended | |
Apr. 04, 2014 | Apr. 30, 2014 | Jul. 31, 2013 | |
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Note for the period ended April 30, 2013 is [Line Items] | ' | ' | ' |
Carrying value at July 31, 2013 | ' | $222,878 | $31,140 |
Additional borrowing | ' | 97,500 | ' |
Less: repayment of principal | ' | -130,794 | ' |
conversion feature | 40,000 | -96,705 | ' |
Add: amortization of discount | ' | 144,232 | ' |
Carrying value at April 30, 2014 | ' | 37,759 | ' |
FirstAsherNote | ' | ' | ' |
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Note for the period ended April 30, 2013 is [Line Items] | ' | ' | ' |
Carrying value at July 31, 2013 | ' | 19,993 | ' |
Less: repayment of principal | ' | -53,000 | ' |
Add: amortization of discount | ' | 33,007 | ' |
SecondAsherNote | ' | ' | ' |
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Note for the period ended April 30, 2013 is [Line Items] | ' | ' | ' |
Carrying value at July 31, 2013 | ' | 3,533 | ' |
Less: repayment of principal | ' | -32,500 | ' |
Add: amortization of discount | ' | 28,967 | ' |
ThirdAsherNote | ' | ' | ' |
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Note for the period ended April 30, 2013 is [Line Items] | ' | ' | ' |
Additional borrowing | ' | 32,500 | ' |
Less: repayment of principal | ' | -32,500 | ' |
conversion feature | ' | -32,500 | ' |
Add: amortization of discount | ' | 32,500 | ' |
FourthAsherNote | ' | ' | ' |
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Note for the period ended April 30, 2013 is [Line Items] | ' | ' | ' |
Additional borrowing | ' | 32,500 | ' |
Less: repayment of principal | ' | -12,794 | ' |
conversion feature | ' | -31,705 | ' |
Add: amortization of discount | ' | 30,310 | ' |
Carrying value at April 30, 2014 | ' | 18,311 | ' |
FifthAsherNote | ' | ' | ' |
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Note for the period ended April 30, 2013 is [Line Items] | ' | ' | ' |
Additional borrowing | ' | 32,500 | ' |
conversion feature | ' | -32,500 | ' |
Add: amortization of discount | ' | 19,448 | ' |
Carrying value at April 30, 2014 | ' | $19,448 | ' |
NOTE_6_CONVERTIBLE_NOTES_Detai2
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Notes for the year ended July 31, 2013 is a (USD $) | 0 Months Ended | 9 Months Ended | |
Apr. 04, 2014 | Apr. 30, 2014 | Jul. 31, 2013 | |
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Notes for the year ended July 31, 2013 is a [Line Items] | ' | ' | ' |
Carrying value at July 31, 2013 | ' | $222,878 | $31,140 |
Additional borrowing | ' | 97,500 | ' |
Less: repayment of principal | ' | -130,794 | ' |
the embedded conversion feature | 40,000 | -96,705 | ' |
Less: original issuance discount | ' | -2,917 | ' |
Add: amortization of discount | 2,849 | 75,797 | ' |
Carrying value at April 30, 2014 | ' | 37,759 | ' |
JMJFinancial | ' | ' | ' |
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Notes for the year ended July 31, 2013 is a [Line Items] | ' | ' | ' |
Carrying value at July 31, 2013 | ' | 17,890 | ' |
Less: repayment of principal | ' | -18,432 | ' |
Add: amortization of discount | ' | 50,837 | ' |
Carrying value at April 30, 2014 | ' | 50,295 | ' |
JMJFinancialNote2 | ' | ' | ' |
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Notes for the year ended July 31, 2013 is a [Line Items] | ' | ' | ' |
Additional borrowing | ' | 27,917 | ' |
the embedded conversion feature | ' | -20,129 | ' |
Less: original issuance discount | ' | -2,917 | ' |
Add: amortization of discount | ' | 13,701 | ' |
Carrying value at April 30, 2014 | ' | 18,572 | ' |
JMJFinancialNote3 | ' | ' | ' |
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Notes for the year ended July 31, 2013 is a [Line Items] | ' | ' | ' |
Additional borrowing | ' | 30,000 | ' |
the embedded conversion feature | ' | -22,338 | ' |
Add: amortization of discount | ' | 8,629 | ' |
Carrying value at April 30, 2014 | ' | 16,291 | ' |
JMJFinancialNote4 | ' | ' | ' |
NOTE 6. - CONVERTIBLE NOTES (Details) - A summary of value changes to the Convertible Promissory Notes for the year ended July 31, 2013 is a [Line Items] | ' | ' | ' |
Additional borrowing | ' | 20,000 | ' |
the embedded conversion feature | ' | -20,000 | ' |
Add: amortization of discount | ' | 2,630 | ' |
Carrying value at April 30, 2014 | ' | $2,630 | ' |
NOTE_7_DERIVATIVE_LIABILITY_De
NOTE 7 - DERIVATIVE LIABILITY (Details) - The fair value of the conversion feature is recognized as a financial derivative at issuance and is (USD $) | 0 Months Ended | 9 Months Ended | |||
Jul. 30, 2012 | Dec. 31, 2014 | Apr. 30, 2014 | Jul. 31, 2013 | Jun. 12, 2013 | |
The fair value of the conversion feature is recognized as a financial derivative at issuance and is [Abstract] | ' | ' | ' | ' | ' |
Market value of common stock on measurement date (1) | $59,770 | $0.00 | $0.00 | $0.11 | ' |
Adjusted conversion price (2) | ' | $0.00 | $0.00 | $0.08 | $0.14 |
Risk free interest rate (3) | ' | 0.02% | 0.02% | 0.04% | ' |
Life of the note in years | ' | $0.65 | $0.65 | $0.48 | ' |
Expected volatility (4) | ' | 223.00% | 220.00% | 192.00% | ' |
NOTE_7_DERIVATIVE_LIABILITY_De1
NOTE 7 - DERIVATIVE LIABILITY (Details) - Financial Derivativies (USD $) | 3 Months Ended | 9 Months Ended | |||
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2014 | Apr. 30, 2013 | Jul. 31, 2013 | |
Financial Derivativies [Abstract] | ' | ' | ' | ' | ' |
Fair value at | $222,878 | ' | $222,878 | ' | $31,140 |
Fair value of new financial derivatives | 65,440 | 212 | 55,083 | 212 | ' |
Change in fair value of derivative liability | ' | ' | ($55,083) | ' | ' |
NOTE_8_EQUITY_TRANSACTIONS_Det
NOTE 8 - EQUITY TRANSACTIONS (Details) (USD $) | 0 Months Ended | 1 Months Ended | 2 Months Ended | 6 Months Ended | ||||||||
Oct. 02, 2013 | Aug. 18, 2013 | Aug. 19, 2013 | Aug. 14, 2013 | Mar. 14, 2014 | Oct. 02, 2013 | Jan. 31, 2014 | Apr. 30, 2014 | Mar. 15, 2014 | Jul. 31, 2013 | Apr. 03, 2013 | Mar. 25, 2013 | |
NOTE 8 - EQUITY TRANSACTIONS (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
undefined | ' | ' | ' | ' | 500,000 | ' | ' | 500,000 | ' | 500,000 | ' | ' |
SeriesAPreferredStockParValuePerShare (in Dollars per share) | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Authorized | ' | ' | ' | ' | 500,000,000 | ' | ' | 500,000,000 | ' | 500,000,000 | ' | ' |
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | ' | ' | ' | ' | $0.00 | ' | ' | $0.00 | ' | $0.00 | ' | ' |
Preferred Stock, Voting Rights | ' | ' | ' | ' | '5,000 | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares Authorized | ' | ' | ' | ' | 450,000,000 | ' | ' | 5,000,000,000 | 5,000,000,000 | 5,000,000,000 | ' | ' |
Common Stock, Par or Stated Value Per Share (in Dollars per share) | ' | ' | ' | ' | $0.00 | ' | ' | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
undefined | ' | ' | ' | ' | ' | ' | ' | 100,000 | 100,000 | 100,000 | ' | ' |
Employee Stock Ownership Plan (ESOP), Fair Value of Shares Subject to Repurchase Obligation (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | $100,871 | ' | ' | ' |
Share-based Goods and Nonemployee Services Transaction, Shares Approved for Issuance | ' | ' | ' | 536,172 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | 6,000,000 | 1,000,000 | 536,172 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures (in Dollars) | ' | 16,800 | 167,400 | 42,358 | ' | ' | 208,341 | ' | ' | ' | ' | ' |
Debt Conversion, Converted Instrument, Shares Issued | ' | ' | 137,814,179 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Converted Instrument, Amount (in Dollars) | ' | ' | 330,834 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Number of Shares, Common Stock Subject to Repurchase or Cancellation | ' | ' | 2,226,656 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of Stock and Warrants for Services or Claims (in Dollars) | $123,028 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 45.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum | 4.99% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Goods and Nonemployee Services Transaction, Modification of Terms, Number of Vendors Affected | ' | ' | ' | ' | ' | 123,028 | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Outstanding | ' | ' | ' | ' | ' | ' | 290,016,767 | 290,016,767 | ' | 67,577,489 | ' | ' |
IBC | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NOTE 8 - EQUITY TRANSACTIONS (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | ' | ' | ' | ' | ' | 79,315,583 | ' | ' | ' | ' | ' |
NOTE_9_SUBSEQUENT_EVENTS_Detai
NOTE 9 - SUBSEQUENT EVENTS (Details) | 1 Months Ended |
31-May-14 | |
Subsequent Events [Abstract] | ' |
Debt Conversion, Converted Instrument, Warrants or Options Issued | 132,330,186 |