Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 12, 2018 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Core Lithium Corp. | |
Entity Central Index Key | 1,742,550 | |
Trading Symbol | CORX | |
Document Fiscal Year Focus | 2,018 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Period Focus | Q3 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Ex Transition Period | false | |
Entity Common Stock, Shares Outstanding | 67,794,661 |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
CURRENT ASSETS | ||
Cash | $ 157 | |
Total Current Assets | 157 | 0 |
LONG TERM ASSETS | ||
TOTAL ASSETS | 157 | 0 |
CURRENT LIABILITIES | ||
Accounts payable and accrued interest | 121,586 | 40,944 |
Accounts payable and accrued interest - Related Party | 36,500 | 18,000 |
Advances, Related Party | 44,824 | 31,948 |
Convertible notes payable | 229,784 | 183,275 |
Total Current Liabilities | 432,694 | 274,167 |
TOTAL LIABILITIES | 432,694 | 274,167 |
STOCKHOLDERS' DEFICIENCY | ||
Common stock 1,666,666,667 shares authorized, at $0.001 par value; 67,794,661 shares issued and outstanding as of September 30, 2018 | 67,795 | 61,395 |
Additional paid in capital | 6,415,892 | 6,321,783 |
Accumulated Deficit | (6,916,224) | (6,657,345) |
Total Stockholders' Deficiency | (432,537) | (274,167) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | 157 | 0 |
Preferred stock - Series A | ||
STOCKHOLDERS' DEFICIENCY | ||
Preferred stock value | 0 | 0 |
Preferred stock - Series B | ||
STOCKHOLDERS' DEFICIENCY | ||
Preferred stock value | $ 0 | $ 0 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, authorized | 1,666,666,667 | 1,666,666,667 |
Common stock, issued | 67,794,661 | 67,794,661 |
Common stock, outstanding | 67,794,661 | 67,794,661 |
Preferred stock - Series A | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 4,820,000 | 4,820,000 |
Preferred stock, issued | ||
Preferred stock, outstanding | ||
Preferred stock - Series B | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 5,000,000 | 5,000,000 |
Preferred stock, issued | ||
Preferred stock, outstanding |
Statement of Operations (Unaudi
Statement of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
EXPENSES | ||||
General and administrative | $ 44,811 | $ 18,873 | $ 129,156 | $ 30,670 |
Officer Compensation | 9,000 | 9,000 | 27,000 | 9,000 |
Shares issued for Services | 0 | 0 | 48,000 | 0 |
TOTAL EXPENSES | 53,811 | 27,873 | 204,156 | 39,670 |
Other Expenses | ||||
Interest Expense | 3,454 | 185,358 | 54,723 | 189,634 |
TOTAL OTHER EXPENSES (INCOME) | 3,454 | 185,358 | 54,723 | 189,634 |
NET INCOME (LOSS) | $ (57,265) | $ (213,231) | $ (258,879) | $ (229,304) |
NET LOSS PER COMMON SHARE | ||||
Basic | $ 0 | $ (0.31) | $ 0 | $ (0.33) |
Fully diluted | $ 0 | $ (0.31) | $ 0 | $ (0.33) |
WEIGHTED AVERAGE OUTSTANDING SHARES | ||||
Basic | 66,801,328 | 694,661 | 67,137,308 | 694,661 |
Fully diluted | 250,598,340 | 694,661 | 250,598,340 | 694,661 |
Condensed Statements of Cash F
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (258,879) | $ (229,304) |
Adjustments to reconcile net loss to net cash use in operating activities: | ||
Shares issued for services | 48,000 | |
Shares issued for debt conversion | 6,000 | |
Debt discounts | 46,509 | |
Changes in operating assets and liabilities | ||
Accounts payable | 80,641 | 10,024 |
Accounts payable - Related Party | 18,500 | 5,198 |
Loans Due to related party | 12,877 | 30,370 |
Net cash (used in) operating activities | (46,352) | (183,712) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Net cash (used in) investing activities | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from convertible debt | 46,509 | |
Exchange Of Promissory Note to Convertible Note | 183,275 | |
Net cash provided by financing activities | 46,509 | 183,275 |
Net Increase (Decrease) in Cash | 157 | (437) |
Cash at Beginning of Period | (437) | |
CASH AT END OF PERIOD | 157 | |
SUPPLEMENTAL DISCLOSURE OF NON CASH | ||
Shares for services | 400,000 | |
Shares issued for debt | 6,000,000 | |
Shares issued for property |
Organization and Description of
Organization and Description of Business | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS Core Lithium Corp. (the “Company”) was originally incorporated under the name “Top Flight Software, Inc.” under the laws of the state of Nevada on December 29, 1994. The Company was originally formed to develop and market specialized software applications for pigeon breeders and racers. Pursuant to our Restated Articles of Incorporation, as filed with the Nevada Secretary of State on December 16, 2013, the Company is authorized to issue 1,666,666,667 shares of common stock, par value $0.001 per share, and 100,000,000 shares of preferred stock, par value $0.001 per share and 100,000,000 shares of preferred stock, par value $0.001 per share, 4,820,000 shares of which are designated as Series A Convertible Preferred Stock, and 5,000,000 of which are designated as Series B Convertible Preferred Stock. We do not have any other classes of stock. On August 23, 2004, the Company filed a Certificate of Designation with the Nevada Secretary of State designating 4,000,000 shares of preferred stock as Series A Convertible Preferred Stock. On December 22, 2004, the Company filed a Certificate of Amendment to the Certificate of Designation amending the Certificate of Designation to increase the authorized number of shares of Series A Convertible Preferred Stock to 4,820,000. Pursuant to the Company’s Certificate of Designation filed with the Nevada Secretary of State on August 23, 2004, as amended, each share of Series A Convertible Preferred Stock is entitled to two (2) votes (i.e., the number of votes equal to the number of shares of common stock into which such share of Series A Convertible Stock is convertible) on all matters submitted to a vote of the stockholders. Except as may be otherwise required by law, the holders of our common stock and preferred stock shall vote as a single class on all matters submitted to a vote of the stockholders. On August 25, 2008, the Company filed a Certificate of Designation with the Nevada Secretary of State designating 5,000,000 shares of preferred stock as Series B Convertible Preferred Stock. Pursuant to the Certificate of Designation filed with the Nevada Secretary of State on August 25, 2008, each share of Series B Convertible Preferred Stock is entitled to one thousand (1,000) votes on all matters submitted to a vote of the stockholders. Except as may be otherwise required by law, the holders of our common stock and preferred stock shall vote as a single class on all matters submitted to a vote of the stockholders. The Series B Convertible Preferred Stock is convertible into common stock at a conversion rate of seven hundred fifty (750) shares of common stock for one (1) share of Series B Convertible Preferred Stock, subject to adjustment. Conversion may occur in increments of up to two hundred thousand (200,000) shares of Series B Convertible Preferred Stock, unless otherwise approved by the Board of Directors. On September 15, 2017, the Company effected a 1-for-110 reverse stock split of the Company’s issued and outstanding common stock and changed its name to “All American Energy Corp.” On April 11, 2018, the Company changed its name to “Core Lithium Corp” in furtherance of its new business plan involving the exploration, mining and development of lithium assets in North America. We are now in the process of developing and carrying out a new business opportunity as an exploration stage mining company engaged in the identification, acquisition, and exploration of metals and minerals, with a focus on lithium mineralization on our mineral properties located in Quebec, Canada. We intend to conduct exploration and development programs on our recently acquired properties as described in further detail below. On December 17, 2017, we entered into a Definitive Agreement for Quadra Lithium Claims (the “Contigo Agreement”) with Contigo Resources Ltd., a corporation formed under the laws of British Columbia, Canada (“Contigo”), pursuant to which the Company acquired all of Contigo’s interest in fifty-six (56) mineral exploration titles issued by the Province of Quebec named the “Quadra Lithium Claims.” Since we are an exploration stage company, there is no assurance that a commercially viable mineral reserve exists on any of our current or future properties. To date, we do not know if an economically viable mineral reserve exists on our property, and there is no assurance that we will discover one. Even if we do eventually discover mineral reserves on our property, there can be no assurance that we will be able to develop our property into a producing mine and extract those resources. Both mineral exploration and development involve a high degree of risk, and few properties which are explored are ultimately developed into producing mines. |
Going Concern
Going Concern | 9 Months Ended |
Sep. 30, 2018 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 2 – GOING CONCERN The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating cost and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. As reflected in the accompanying financial statements, for the nine months ended September 30, 2018, the Company incurred a net loss of $258,879 and used cash in operating activities of $46,352. As of September 30, 2018, the Company has an accumulated deficit of $6,916,224 and a stockholders’ deficit of $432,537. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s December 31, 2017 financial statements, has raised substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these financial statements are issued. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan to obtain such resources for the Company include, obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans. The Company’s continued existence is dependent upon the Company’s ability to obtain additional debt and/or equity financing to advance its exploration activities. There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company. In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES UNAUDITED INTERIM FINANICAL STATEMENTS The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The interim financial statements should be read in conjunction with the annual financial statements included in the Form 10-12G/A as of December 31, 2017 and filed with the Securities and Exchange Commission on August 22, 2018. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. BASIS OF PRESENTATION AND USE OF ESTIMATES The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to accounting and reporting by exploration stage companies. An exploration stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues. CASH AND CASH EQUIVALENTS The Company considers all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. Cash and cash equivalents totaled $157 at September 30, 2018 and $0 at December 31, 2017. CASH FLOWS REPORTING The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by ASC 230, Statement of Cash Flows, to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period. RELATED PARTIES The Company follows ASC 850, “Related Party Disclosures,” for the identification of related parties and disclosure of related party transactions. STOCK-BASED COMPENSATION When applicable, the Company will account for stock-based payments to employees in accordance with ASC 718, “Stock Compensation” (“ASC 718”). Stock-based payments to employees include grants of stock, grants of stock options and issuance of warrants that are recognized in the consolidated statement of operations based on their fair values at the date of grant. The Company accounts for stock-based payments to non-employees in accordance with ASC 505-50, “Equity-Based Payments to Non-Employees.” Stock-based payments to non-employees include grants of stock, grants of stock options and issuances of warrants that are recognized in the consolidated statement of operations based on the value of the vested portion of the award over the requisite service period as measured at its then-current fair value as of each financial reporting date. FINANCIAL INSTRUMENTS The Company’s balance sheet includes financial instruments, including cash, accounts payable, accrued expenses and notes payable. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2018. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. BENEFICIAL CONVERSION FEATURES In accordance with FASB ASC 470-20, “Debt with Conversion and Other Options” the Company records a beneficial conversion feature (“BCF”) related to the issuance of convertible debt or preferred stock instruments that have conversion features at fixed rates that are in-the-money when issued. The BCF for the convertible instruments is recognized and measured by allocating a portion of the proceeds equal to the intrinsic value of that feature to additional paid-in capital. The intrinsic value is generally calculated at the commitment date as the difference between the conversion price and the fair value of the common stock or other securities into which the security is convertible, multiplied by the number of shares into which the security is convertible. If certain other securities are issued with the convertible security, the proceeds are allocated among the different components. The portion of the proceeds allocated to the convertible security is divided by the contractual number of the conversion shares to determine the effective conversion price, which is used to measure the BCF. The effective conversion price is used to compute the intrinsic value. The value of the BCF is limited to the basis that is initially allocated to the convertible security. REVENUE AND COST RECOGNITION The Company currently has no source of revenue. Therefore, the Company has not yet adopted any policy regarding the recognition of revenue or cost. INCOME TAXES A provision for income taxes is determined in accordance with the provisions of FASB Accounting Standards Codification (“ASC”) Topic 740, Accounting for Income Taxes (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their consolidated financial statements, uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the consolidated financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company has no material uncertain tax positions for any of the reporting periods presented. BASIC AND DILUTED NET INCOME (LOSS) PER SHARE Earnings per share is calculated in accordance with ASC Topic 260, Earnings Per Share. Basic net incomes (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common and common equivalent shares outstanding as if shares had been issued on the exercise of the common share rights unless the exercise becomes anti-dilutive and then the basic and diluted per share amounts are the same. As of September 30, 2018 and December 31, 2017, the Company 250,598,340 and 186,633,947, respectively, of common stock equivalents outstanding, calculated using the if-converted method. IMPAIRMENT OF LONG-LIVED ASSETS The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets. MINERAL PROPERTY ACQUISITION AND EXPLORATION COSTS Mineral property acquisition costs are initially capitalized when incurred. These costs are then assessed for impairment when factors are present to indicate the carrying costs may not be recoverable. Mineral exploration costs are expensed when incurred. FOREIGN CURRENCY TRANSLATIONS Part of the transactions of the Company were completed in Canadian dollars and have been translated to US dollars as incurred, at the exchange rate in effect at the time, and therefore, no gain or loss from the translation is recognized. The functional currency is US dollars. ENVIRONMENTAL REQUIREMENTS At the report date, environmental requirements related to the mineral claim acquired are unknown and therefore any estimate of any future cost cannot be made. RECENT ACCOUNTING PRONOUNCEMENTS In June 2018, the FASB issued Accounting Standards Update (“ASU”) ASU 2018-07, Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which simplifies the accounting for share-based payments granted to nonemployees for goods and services and aligns most of the guidance on such payments to nonemployees with the requirements for share-based payments granted to employees. ASU 2018-07 is effective on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact of this ASU on its financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances. |
Mineral Properties
Mineral Properties | 9 Months Ended |
Sep. 30, 2018 | |
Extractive Industries [Abstract] | |
MINERAL PROPERTIES | NOTE 4 - MINERAL PROPERTIES On December 17, 2017, we entered into a Definitive Agreement for Quadra Lithium Claims (the “Contigo Agreement”) with Contigo Resources Ltd., a corporation formed under the laws of British Columbia, Canada (“Contigo”), pursuant to which the Company acquired all of Contigo’s interest in fifty-six (56) mineral exploration titles issued by the Province of Quebec named the “Quadra Lithium Claims.” The geographic area underlying the Quadra Lithium Claims totals approximately 7,840 acres in the James Bay region of Northern Quebec, Canada. Pursuant to the terms of the Contigo Agreement, as consideration for all of Contigo’s interest in the Quadra Lithium Claims, we agreed to: (i) issue a total of 700,000 restricted shares of common stock to Contigo and its affiliate within sixty (60) days following the effective date of the Contigo Agreement, (ii) pay $20,000 USD to Contigo within one hundred twenty (120) days following the effective date of the Contigo Agreement, and (iii) grant a 2% “Net Smelter Returns Royalty” to Contigo on the Quadra Lithium Claims and on any claims or property the Company comes to own within two (2) kilometers of the limits of the Quadra Lithium Claims. The Contigo Agreement describes “Net Smelter Returns” as the actual proceeds received from any mint, smelter, refinery or other purchaser from the sale of mineral products, or proceeds received from an insurer in respect of mineral products. The Contigo Agreement provides further that the Company may purchase 1% of the Net Smelter Returns upon payment of $750,000 USD to Contigo. We plan to conduct exploration activities on the Quadra Lithium Claims. The Company has incurred expenditures of $3,842 renewing the mining claims and planning the exploration during the quarter. The company recognized an impairment loss of $90,000 for period ending December 31, 2017. This was due to that the company has not conducted any exploration on the property to date; and secondly that, no mineral resource having been identified on the property to date. The Mining Claims are known as the “Quadra Lithium Claims” total approximately 7,840 acres in the James Bay region of Northern Quebec, Canada The Quadra Lithium Claims are as follows: Claim Number Expiration Date Hectares Acres Required Fees Titleholder(s) Administrative Region 2450682 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450684 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450685 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450686 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450687 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450688 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450689 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450690 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450691 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450692 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450693 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450694 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450695 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450696 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450697 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450698 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450699 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450700 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450701 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450702 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450703 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450704 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450705 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450706 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450707 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450708 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450709 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450710 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450711 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450712 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450713 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450714 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450715 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450716 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450717 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450720 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450721 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450722 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450723 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450724 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450725 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450726 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450727 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450728 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450732 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450733 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450735 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450736 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450737 06/21/20 52.86 130.62 148.48 Core Lithium Corp. Nord-du-Québec 2450738 06/21/20 52.86 130.62 148.48 Core Lithium Corp. Nord-du-Québec 2450739 06/21/20 52.86 130.62 148.48 Core Lithium Corp. Nord-du-Québec 2450767 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450774 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450776 06/21/20 52.86 130.62 148.48 Core Lithium Corp. Nord-du-Québec 2466763 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2466764 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec |
Convertible Notes Payable
Convertible Notes Payable | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE NOTES PAYABLE | NOTE 5 - CONVERTIBLE NOTES PAYABLE Issue Date: Expiry Date: Amount of Loan: Interest Rate: 8/18/2017 2/28/2018 $ 183,275 5 % 5/17/2018 5/17/2019 $ 20,000 10 % 5/30/2018 5/30/2019 $ 26,508.50 10 % On August 18, 2017, we issued a Convertible Note in the principal amount of $183,275 to an accredited investor. The note was issued in exchange for a previous outstanding $183,275 promissory note agreement, which was assigned to the investor on January 13, 2017. The note has a four percent (4%) per annum interest rate and a maturity date of February 28, 2018. After the maturity date, the note accrues interest at five percent (5%) per annum until the note is paid in full. The note is convertible into shares of our common stock at any time for a conversion price of $0.001 per share, subject to adjustment; provided, however, that the holder shall not be allowed to convert all or any portion of the note to the extent that after giving effect to such conversion, the holder, together with its affiliates, would beneficially own in excess of 4.99% of the Company’s outstanding common stock. This note is currently in arrears and is due and payable on demand. During the period ended March 31, 2018, $6,000 of the debt was converted into 6,000,000 shares of common stock issued to two (2) accredited investors. We have not received any notice of default or demand for payment from the lender. However, we intend to pay off the amount owed under this note in the future when we have sufficient funding. Per ASC 470-50-40-10b, as this transaction added a substantive conversion feature to the debt, we have determined debt extinguishment accounting rules apply. However, as there was no difference between the reacquisition price and the net carrying amount of the old debt, no gain or loss was recorded. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the Company recognized the discount on the debt equal to the face value, in the amount of $183,275 for the year ended December 31, 2017. This discount was amortized to interest expense. On May 15, 2018, we issued a Convertible Debenture to an accredited investor for a revolving line of credit in the principal amount of up to $1,000,000. On May 17, 2018, the lender advanced $20,000 to the Company, and on May 30, 2018, the lender advanced an additional $26,508.50 to the Company. The debenture accrues interest at the rate of ten percent (10%) per annum, and the applicable repayment date for each advance made to the Company is the one-year anniversary of the date of such advance. The debenture is convertible into shares of our common stock at any time for a conversion price of $0.25 per share, subject to adjustment; provided, however, that the holder shall not be allowed to convert all or any portion of the debenture to the extent that after giving effect to such conversion, the holder, together with its affiliates, would beneficially own in excess of 4.999% of the Company’s outstanding common stock. Per ASC 470-50-40-10b, as this transaction added a substantive conversion feature to the debt, we have determined debt extinguishment accounting rules apply. However, as there was no difference between the reacquisition price and the net carrying amount of the old debt, no gain or loss was recorded. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the Company recognized the discount on the debt equal to the face value, in the amount of $46,508.50 for the nine-month period ended September 30, 2018. This discount was amortized to interest expense. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2018 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 6 - RELATED PARTY TRANSACTIONS During the period, the Company has paid its officer consulting fees of $8,500 The Company owed Mr. Vallos $36,500 in consulting fees under the consulting agreement as of September 30, 2018. As of September 30, 2018, Mr. Vallos had advanced the Company approximately $44,825 to pay vendors and service providers of the Company. This advance is considered a loan that bears no interest and no maturity date. Accordingly, as of September 30, 2018, the total outstanding amount payable to Mr. Vallos was $81,325, which includes $36,500 in consulting fees and $44,825 in advances. |
Promissory Note Payable
Promissory Note Payable | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
PROMISSORY NOTE PAYABLE | NOTE 7 - PROMISSORY NOTE PAYABLE During the period from April 15, 2013 through March 31, 2016, the (“Original Holder”) advanced $183,275 to the Company, which advances are evidenced by a Promissory Note dated June 30, 2016 in the face amount of $183,275 The Original Holder assigned the Original Note to Holder pursuant to a Securities Purchase Agreement dated January 13, 2017 On August 18, 2017, the Company and the Holder agreed to exchange an $183,275 promissory note agreement, which was assigned on January 13, 2017 for a new unsecured Convertible Promissory Note. The Note bears interest at a rate of 4% per annum and matures (the “Maturity Date”) on February 28, 2018. |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
STOCK-BASED COMPENSATION | NOTE 8 - STOCK-BASED COMPENSATION When applicable, the Company will account for stock-based payments to employees in accordance with ASC 718, “Stock Compensation” (“ASC 718”). Stock-based payments to employees include grants of stock, grants of stock options and issuance of warrants that are recognized in the consolidated statement of operations based on their fair values at the date of grant. The Company accounts for stock-based payments to non-employees in accordance with ASC 505-50, “Equity-Based Payments to Non-Employees.” Stock-based payments to non-employees include grants of stock, grants of stock options and issuances of warrants that are recognized in the consolidated statement of operations based on the value of the vested portion of the award over the requisite service period as measured at its then-current fair value as of each financial reporting date. The Company calculates the fair value of option grants and warrants issuances utilizing the Binomial pricing model. The amount of stock-based compensation recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest. ASC 718 requires forfeitures to be estimated at the time stock options are granted and warrants are issued to employees and non-employees, and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The term “forfeitures” is distinct from “cancellations” or “expirations” and represents only the unvested portion of the surrendered stock option or warrant. The Company estimates forfeiture rates for all unvested awards when calculating the expense for the period. In estimating the forfeiture rate, the Company monitors both stock option and warrants exercises as well as employee termination patterns. The resulting stock-based compensation expense for both employee and non-employee awards is generally recognized on a straight-line basis over the period in which the Company expects to receive the benefit, which is generally the vesting period. On December 15, 2017, we entered into an Amended Executive Consulting Agreement with Mr. Vallos, the sole executive officer and director of the Company, pursuant to which we issued 60,000,000 shares of restricted common stock that vested immediately to Mr. Vallos as compensation for his services to the Company. The securities were issued in reliance upon the exemption from registration for transactions by an issuer not involved in any public offering under Section 4(a)(2) of the Securities Act. At the issue date, the fair market value of the shares was $0.10 and a charge of $6,000,000 was expensed as Officer Compensation. On February 13, 2018, we entered into an Advisory Board Agreement with Ed Morrow, an advisor and consultant of the Company, pursuant to which we agreed to issue 250,000 shares of restricted common stock to Mr. Morrow. The shares will vest at the time issuance and shall be issued at the beginning of each fiscal year in which Mr. Morrow serves as a member of the Company’s Advisory Board as compensation for his services to the Company. We subsequently issued 250,000 shares of restricted common stock to Mr. Morrow on April 23, 2018 pursuant to the terms of the agreement. The securities were issued in reliance upon the exemption from registration for transactions by an issuer not involved in any public offering under Section 4(a)(2) of the Securities Act. At the issue date, the fair market value of the shares was $0.12 and a charge of $30,000 was expensed as Shares for Service. On February 13, 2018, we entered into an Advisory Board Agreement with Dov Zaidman, an advisor and consultant of the Company, pursuant to which we agreed to issue 150,000 shares of restricted common stock to Mr. Zaidman. The shares will vest at the time issuance and shall be issued at the beginning of each fiscal year in which Mr. Zaidman serves as a member of the Company’s Advisory Board as compensation for his services to the Company. We subsequently issued 150,000 shares of restricted common stock to Mr. Zaidman on April 23, 2018 pursuant to the terms of the agreement. The securities were issued in reliance upon the exemption from registration for transactions by an issuer not involved in any public offering under Section 4(a)(2) of the Securities Act. At the issue date, the fair market value of the shares was $0.12 and a charge of $18,000 was expensed as Shares for Service. |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
CONTINGENCIES | NOTE 9 - CONTINGENCIES LEGAL PROCEEDINGS The Company was named as one of multiple defendants in a pending lawsuit that was filed in 2011 in the United States District Court for the Northern District of Illinois (Case Number 1:11-cv-03482, United States of America et al. v. IBM Corporation et al. |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2018 | |
Stockholders' Equity Note [Abstract] | |
STOCKHOLDERS' EQUITY | NOTE 10 - STOCKHOLDERS’ EQUITY Common Stock During the nine months ended September 30, 2018, the Company had the following transactions in its common stock: For the convertible note issued August 18, 2017, $6,000 of debt was converted into an aggregate of 6,000,000 shares of common stock. Such shares were issued to two accredited investor holders in equal amounts of 3,000,000 shares each On February 13, 2018, the Company entered into an agreement with two consultants to provide services over the course of 12 months and issued 400,000 shares of common stock as compensation. The shares were valued at $48,000 has been expensed and included in compensation and related expenses on the consolidated statement of operations. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2018 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 11. SUBSEQUENT EVENTS Management has evaluated all activity and concluded that no subsequent events have occurred that would require recognition in the consolidated financial statements or disclosure in the notes to the consolidated financial statements. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
UNAUDITED INTERIM FINANICAL STATEMENTS | UNAUDITED INTERIM FINANICAL STATEMENTS The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The interim financial statements should be read in conjunction with the annual financial statements included in the Form 10-12G/A as of December 31, 2017 and filed with the Securities and Exchange Commission on August 22, 2018. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. |
BASIS OF PRESENTATION AND USE OF ESTIMATES | BASIS OF PRESENTATION AND USE OF ESTIMATES The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to accounting and reporting by exploration stage companies. An exploration stage company is one in which planned principal operations have not commenced or if its operations have commenced, there has been no significant revenues. |
CASH AND CASH EQUIVALENTS | CASH AND CASH EQUIVALENTS The Company considers all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. Cash and cash equivalents totaled $157 at September 30, 2018 and $0 at December 31, 2017. |
CASH FLOWS REPORTING | CASH FLOWS REPORTING The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by ASC 230, Statement of Cash Flows, to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period. |
RELATED PARTIES | RELATED PARTIES The Company follows ASC 850, “Related Party Disclosures,” for the identification of related parties and disclosure of related party transactions. |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION When applicable, the Company will account for stock-based payments to employees in accordance with ASC 718, “Stock Compensation” (“ASC 718”). Stock-based payments to employees include grants of stock, grants of stock options and issuance of warrants that are recognized in the consolidated statement of operations based on their fair values at the date of grant. The Company accounts for stock-based payments to non-employees in accordance with ASC 505-50, “Equity-Based Payments to Non-Employees.” Stock-based payments to non-employees include grants of stock, grants of stock options and issuances of warrants that are recognized in the consolidated statement of operations based on the value of the vested portion of the award over the requisite service period as measured at its then-current fair value as of each financial reporting date. |
FINANCIAL INSTRUMENTS | FINANCIAL INSTRUMENTS The Company’s balance sheet includes financial instruments, including cash, accounts payable, accrued expenses and notes payable. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2018. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. |
BENEFICIAL CONVERSION FEATURES | BENEFICIAL CONVERSION FEATURES In accordance with FASB ASC 470-20, “Debt with Conversion and Other Options” the Company records a beneficial conversion feature (“BCF”) related to the issuance of convertible debt or preferred stock instruments that have conversion features at fixed rates that are in-the-money when issued. The BCF for the convertible instruments is recognized and measured by allocating a portion of the proceeds equal to the intrinsic value of that feature to additional paid-in capital. The intrinsic value is generally calculated at the commitment date as the difference between the conversion price and the fair value of the common stock or other securities into which the security is convertible, multiplied by the number of shares into which the security is convertible. If certain other securities are issued with the convertible security, the proceeds are allocated among the different components. The portion of the proceeds allocated to the convertible security is divided by the contractual number of the conversion shares to determine the effective conversion price, which is used to measure the BCF. The effective conversion price is used to compute the intrinsic value. The value of the BCF is limited to the basis that is initially allocated to the convertible security. |
REVENUE AND COST RECOGNITION | REVENUE AND COST RECOGNITION The Company currently has no source of revenue. Therefore, the Company has not yet adopted any policy regarding the recognition of revenue or cost. |
INCOME TAXES | INCOME TAXES A provision for income taxes is determined in accordance with the provisions of FASB Accounting Standards Codification (“ASC”) Topic 740, Accounting for Income Taxes (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their consolidated financial statements, uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the consolidated financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company has no material uncertain tax positions for any of the reporting periods presented. |
BASIC AND DILUTED NET INCOME (LOSS) PER SHARE | BASIC AND DILUTED NET INCOME (LOSS) PER SHARE Earnings per share is calculated in accordance with ASC Topic 260, Earnings Per Share. Basic net incomes (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common and common equivalent shares outstanding as if shares had been issued on the exercise of the common share rights unless the exercise becomes anti-dilutive and then the basic and diluted per share amounts are the same. As of September 30, 2018 and December 31, 2017, the Company 250,598,340 and 186,633,947, respectively, of common stock equivalents outstanding, calculated using the if-converted method. |
IMPAIRMENT OF LONG-LIVED ASSETS | IMPAIRMENT OF LONG-LIVED ASSETS The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets. |
MINERAL PROPERTY ACQUISITION AND EXPLORATION COSTS | MINERAL PROPERTY ACQUISITION AND EXPLORATION COSTS Mineral property acquisition costs are initially capitalized when incurred. These costs are then assessed for impairment when factors are present to indicate the carrying costs may not be recoverable. Mineral exploration costs are expensed when incurred. |
FOREIGN CURRENCY TRANSLATIONS | FOREIGN CURRENCY TRANSLATIONS Part of the transactions of the Company were completed in Canadian dollars and have been translated to US dollars as incurred, at the exchange rate in effect at the time, and therefore, no gain or loss from the translation is recognized. The functional currency is US dollars. |
ENVIRONMENTAL REQUIREMENTS | ENVIRONMENTAL REQUIREMENTS At the report date, environmental requirements related to the mineral claim acquired are unknown and therefore any estimate of any future cost cannot be made. |
RECENT ACCOUNTING PRONOUNCEMENTS | RECENT ACCOUNTING PRONOUNCEMENTS In June 2018, the FASB issued Accounting Standards Update (“ASU”) ASU 2018-07, Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which simplifies the accounting for share-based payments granted to nonemployees for goods and services and aligns most of the guidance on such payments to nonemployees with the requirements for share-based payments granted to employees. ASU 2018-07 is effective on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact of this ASU on its financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances. |
Mineral Properties (Tables)
Mineral Properties (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Extractive Industries [Abstract] | |
Schedule of mining claims | Claim Number Expiration Date Hectares Acres Required Fees Titleholder(s) Administrative Region 2450682 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450684 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450685 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450686 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450687 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450688 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450689 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450690 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450691 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450692 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450693 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450694 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450695 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450696 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450697 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450698 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450699 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450700 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450701 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450702 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450703 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450704 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450705 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450706 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450707 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450708 06/21/20 52.91 130.743 148.48 Core Lithium Corp. Nord-du-Québec 2450709 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450710 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450711 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450712 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450713 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450714 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450715 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450716 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450717 06/21/20 52.9 130.719 148.48 Core Lithium Corp. Nord-du-Québec 2450720 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450721 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450722 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450723 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450724 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450725 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450726 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450727 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450728 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450732 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450733 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450735 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450736 06/21/20 52.87 130.644 148.48 Core Lithium Corp. Nord-du-Québec 2450737 06/21/20 52.86 130.62 148.48 Core Lithium Corp. Nord-du-Québec 2450738 06/21/20 52.86 130.62 148.48 Core Lithium Corp. Nord-du-Québec 2450739 06/21/20 52.86 130.62 148.48 Core Lithium Corp. Nord-du-Québec 2450767 06/21/20 52.89 130.694 148.48 Core Lithium Corp. Nord-du-Québec 2450774 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2450776 06/21/20 52.86 130.62 148.48 Core Lithium Corp. Nord-du-Québec 2466763 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec 2466764 06/21/20 52.88 130.669 148.48 Core Lithium Corp. Nord-du-Québec |
Convertible Notes Payable (Tabl
Convertible Notes Payable (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of convertible notes payable | Issue Date: Expiry Date: Amount of Loan: Interest Rate: 8/18/2017 2/28/2018 $ 183,275 5 % 5/17/2018 5/17/2019 $ 20,000 10 % 5/30/2018 5/30/2019 $ 26,508.50 10 % |
Organization and Description _2
Organization and Description of Business (Details) - $ / shares | 1 Months Ended | 9 Months Ended | ||||
Aug. 25, 2008 | Aug. 23, 2004 | Sep. 30, 2018 | Dec. 31, 2017 | Dec. 16, 2013 | Dec. 22, 2004 | |
Organization and Description of Business (Textual) | ||||||
Preferred stock, par value | $ 0.001 | |||||
Preferred stock, authorized | 100,000,000 | |||||
Common stock, par value | $ 0.001 | $ 0.001 | ||||
Common stock, authorized | 1,666,666,667 | 1,666,666,667 | ||||
Series A Preferred Stock [Member] | ||||||
Organization and Description of Business (Textual) | ||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | ||||
Preferred stock, authorized | 4,000,000 | 4,820,000 | 4,820,000 | 4,820,000 | ||
Preferred stock, voting rights | Each share of Series A Convertible Preferred Stock is entitled to two (2) votes (i.e., the number of votes equal to the number of shares of common stock into which such share of Series A Convertible Stock is convertible) on all matters submitted to a vote of the stockholders. | |||||
Series B Preferred Stock [Member] | ||||||
Organization and Description of Business (Textual) | ||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | ||||
Preferred stock, authorized | 5,000,000 | 5,000,000 | 5,000,000 | |||
Preferred stock, voting rights | Each share of Series B Convertible Preferred Stock is entitled to one thousand (1,000) votes on all matters submitted to a vote of the stockholders. | |||||
Convertible preferred stock, description | The Series B Convertible Preferred Stock is convertible into common stock at a conversion rate of seven hundred fifty (750) shares of common stock for one (1) share of Series B Convertible Preferred Stock, subject to adjustment. Conversion may occur in increments of up to two hundred thousand (200,000) shares of Series B Convertible Preferred Stock, unless otherwise approved by the Board of Directors. |
Going Concern (Details)
Going Concern (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Going Concern (Textual) | |||||
Net loss | $ (57,265) | $ (213,231) | $ (258,879) | $ (229,304) | |
Cash in operating activities | (46,352) | $ (183,712) | |||
Accumulated deficit | (6,916,224) | (6,916,224) | $ (6,657,345) | ||
Stockholders' deficit | $ (432,537) | $ (432,537) | $ (274,167) |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Summary of Significant Accounting Policies (Textual) | ||||||
Cash and cash equivalents total | $ 157 | $ 157 | $ 437 | |||
Percentage of other adjustments, tax benefit | 50.00% | |||||
Fully diluted | 250,598,340 | 694,661 | 250,598,340 | 694,661 | 186,633,947 |
Mineral Properties (Details)
Mineral Properties (Details) - Quadra Lithium Claims [Member] | 9 Months Ended |
Sep. 30, 2018USD ($) | |
2450682 [Member] | |
Claim Number | 2,450,682 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.9 |
Acres | 130.719 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450684 [Member] | |
Claim Number | 2,450,684 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.89 |
Acres | 130.694 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450685 [Member] | |
Claim Number | 2,450,685 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450686 [Member] | |
Claim Number | 2,450,686 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450687 [Member] | |
Claim Number | 2,450,687 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450688 [Member] | |
Claim Number | 2,450,688 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450689 [Member] | |
Claim Number | 2,450,689 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450690 [Member] | |
Claim Number | 2,450,690 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450691 [Member] | |
Claim Number | 2,450,691 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450692 [Member] | |
Claim Number | 2,450,692 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450693 [Member] | |
Claim Number | 2,450,693 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.87 |
Acres | 130.644 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450694 [Member] | |
Claim Number | 2,450,694 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.87 |
Acres | 130.644 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450695 [Member] | |
Claim Number | 2,450,695 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.87 |
Acres | 130.644 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450696 [Member] | |
Claim Number | 2,450,696 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.87 |
Acres | 130.644 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450697 [Member] | |
Claim Number | 2,450,697 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.87 |
Acres | 130.644 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450698 [Member] | |
Claim Number | 2,450,698 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.87 |
Acres | 130.644 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450699 [Member] | |
Claim Number | 2,450,699 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.87 |
Acres | 130.644 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450700 [Member] | |
Claim Number | 2,450,700 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.91 |
Acres | 130.743 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450701 [Member] | |
Claim Number | 2,450,701 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.91 |
Acres | 130.743 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450702 [Member] | |
Claim Number | 2,450,702 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.91 |
Acres | 130.743 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450703 [Member] | |
Claim Number | 2,450,703 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.91 |
Acres | 130.743 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450704 [Member] | |
Claim Number | 2,450,704 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.91 |
Acres | 130.743 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450705 [Member] | |
Claim Number | 2,450,705 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.91 |
Acres | 130.743 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450706 [Member] | |
Claim Number | 2,450,706 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.91 |
Acres | 130.743 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450707 [Member] | |
Claim Number | 2,450,707 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.91 |
Acres | 130.743 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450708 [Member] | |
Claim Number | 2,450,708 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.91 |
Acres | 130.743 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450709 [Member] | |
Claim Number | 2,450,709 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.9 |
Acres | 130.719 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450710 [Member] | |
Claim Number | 2,450,710 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.9 |
Acres | 130.719 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450711 [Member] | |
Claim Number | 2,450,711 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.9 |
Acres | 130.719 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450712 [Member] | |
Claim Number | 2,450,712 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.9 |
Acres | 130.719 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450713 [Member] | |
Claim Number | 2,450,713 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.9 |
Acres | 130.719 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450714 [Member] | |
Claim Number | 2,450,714 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.9 |
Acres | 130.719 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450715 [Member] | |
Claim Number | 2,450,715 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.9 |
Acres | 130.719 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450716 [Member] | |
Claim Number | 2,450,716 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.9 |
Acres | 130.719 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450717 [Member] | |
Claim Number | 2,450,717 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.9 |
Acres | 130.719 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450720 [Member] | |
Claim Number | 2,450,720 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.89 |
Acres | 130.694 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450721 [Member] | |
Claim Number | 2,450,721 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.89 |
Acres | 130.694 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450722 [Member] | |
Claim Number | 2,450,722 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.89 |
Acres | 130.694 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450723 [Member] | |
Claim Number | 2,450,723 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.89 |
Acres | 130.694 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450724 [Member] | |
Claim Number | 2,450,724 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.89 |
Acres | 130.694 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450725 [Member] | |
Claim Number | 2,450,725 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.89 |
Acres | 130.694 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450726 [Member] | |
Claim Number | 2,450,726 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.89 |
Acres | 130.694 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450727 [Member] | |
Claim Number | 2,450,727 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.89 |
Acres | 130.694 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450728 [Member] | |
Claim Number | 2,450,728 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.89 |
Acres | 130.694 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450732 [Member] | |
Claim Number | 2,450,732 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450733 [Member] | |
Claim Number | 2,450,733 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450735 [Member] | |
Claim Number | 2,450,735 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.87 |
Acres | 130.644 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450736 [Member] | |
Claim Number | 2,450,736 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.87 |
Acres | 130.644 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450737 [Member] | |
Claim Number | 2,450,737 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.86 |
Acres | 130.62 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450738 [Member] | |
Claim Number | 2,450,738 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.86 |
Acres | 130.62 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450739 [Member] | |
Claim Number | 2,450,739 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.86 |
Acres | 130.62 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450767 [Member] | |
Claim Number | 2,450,767 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.89 |
Acres | 130.694 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450774 [Member] | |
Claim Number | 2,450,774 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2450776 [Member] | |
Claim Number | 2,450,776 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.86 |
Acres | 130.62 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2466763 [Member] | |
Claim Number | 2,466,763 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
2466764 [Member] | |
Claim Number | 2,466,764 |
Expiration Date | Jun. 21, 2020 |
Hectares | 52.88 |
Acres | 130.669 |
Required Fees | $ 148.48 |
Titleholder(s) | Core Lithium Corp. |
Administrative Region | Nord-du-Quebec |
Mineral Properties (Details Tex
Mineral Properties (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended | |
Dec. 17, 2017 | Sep. 30, 2018 | Dec. 31, 2017 | |
Mineral Properties (Textual) | |||
Incurred expenditures | $ 3,842 | ||
Recognized impairment loss | $ 90,000 | ||
Total approximately acres | 7,840 acres | ||
Definitive Agreement [Member] | Quadra Lithium Claims [Member] | |||
Mineral Properties (Textual) | |||
Description of contigo agreement | Pursuant to which the Company acquired all of Contigo’s interest in fifty-six (56) mineral exploration titles issued by the Province of Quebec named the “Quadra Lithium Claims.” The geographic area underlying the Quadra Lithium Claims totals approximately 7,840 acres in the James Bay region of Northern Quebec, Canada. Pursuant to the terms of the Contigo Agreement, as consideration for all of Contigo’s interest in the Quadra Lithium Claims, we agreed to: (i) issue a total of 700,000 restricted shares of common stock to Contigo and its affiliate within sixty (60) days following the effective date of the Contigo Agreement, (ii) pay $20,000 USD to Contigo within one hundred twenty (120) days following the effective date of the Contigo Agreement, and (iii) grant a 2% “Net Smelter Returns Royalty” to Contigo on the Quadra Lithium Claims and on any claims or property the Company comes to own within two (2) kilometers of the limits of the Quadra Lithium Claims. | ||
Purchase of net smelter returns, percentage | 1.00% | ||
Upon payment of USD to Contigo | $ 750,000 |
Convertible Notes Payable (Deta
Convertible Notes Payable (Details) - Convertible Notes Payable [Member] | 9 Months Ended |
Sep. 30, 2018USD ($) | |
8/18/2017 [Member] | |
Issue Date: | Aug. 18, 2017 |
Expiry Date: | Feb. 28, 2018 |
Amount of Loan: | $ 183,275 |
Interest Rate: | 5.00% |
5/17/2018 [Member] | |
Issue Date: | May 17, 2018 |
Expiry Date: | May 17, 2019 |
Amount of Loan: | $ 20,000 |
Interest Rate: | 10.00% |
5/30/2018 [Member] | |
Issue Date: | May 30, 2018 |
Expiry Date: | May 30, 2019 |
Amount of Loan: | $ 26,509 |
Interest Rate: | 10.00% |
Convertible Notes Payable (De_2
Convertible Notes Payable (Details Textual) - Convertible Notes Payable [Member] | May 15, 2018USD ($)$ / shares | May 30, 2018USD ($) | May 17, 2018USD ($) | Mar. 31, 2018USD ($)shares | Aug. 18, 2017USD ($)$ / sharesshares | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 13, 2017USD ($) |
Convertible Notes Payable (Textual) | ||||||||
Converted into value of common stock issued | $ 6,000 | |||||||
Converted into shares of common stock issued | shares | 6,000,000 | |||||||
Accredited investor [Member] | ||||||||
Convertible Notes Payable (Textual) | ||||||||
Principal amount | $ 1,000,000 | $ 183,275 | $ 183,275 | |||||
Percentage of interest rate | 4.00% | |||||||
Maturity date | Feb. 28, 2018 | |||||||
Percentage of accrues interest | 10.00% | 5.00% | ||||||
Conversion price of per share | $ / shares | $ 0.25 | $ 0.001 | ||||||
Maximum percentage of outstanding common stock | 4.999% | 4.99% | ||||||
Converted into value of common stock issued | $ 6,000 | |||||||
Converted into shares of common stock issued | shares | 6,000,000 | |||||||
Number of accredited investors | 2 | |||||||
Recognized discount on debt | $ 46,509 | $ 183,275 | ||||||
Lender advanced amount | $ 26,509 | $ 20,000 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Related Party Transactions (Textual) | ||
Officer consulting fees | $ 8,500 | |
Advances, related party | 44,824 | $ 31,948 |
Mr. Vallos [Member] | Consulting Agreement [Member] | ||
Related Party Transactions (Textual) | ||
Officer consulting fees | 36,500 | |
Advances, related party | 44,825 | |
Outstanding payable | $ 81,325 |
Promissory Note Payable (Detail
Promissory Note Payable (Details) - USD ($) | 1 Months Ended | ||||
Aug. 18, 2017 | Sep. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2016 | Mar. 31, 2016 | |
Promissory Note Payable (Textual) | |||||
Convertible promissory note | $ 229,784 | $ 183,275 | |||
Commercial Paper [Member] | |||||
Promissory Note Payable (Textual) | |||||
Promissory note face amount | $ 183,275 | $ 183,275 | |||
Promissory note bears interest rate | 4.00% | ||||
Promissory note maturity date | Feb. 28, 2018 | ||||
Convertible promissory note | $ 183,275 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) - USD ($) | Dec. 15, 2017 | Apr. 23, 2018 | Feb. 13, 2018 |
Mr. Vallos [Member] | |||
Stock-based Compensation (Textual) | |||
Shares of restricted common stock | 60,000,000 | ||
Fair market value of shares | $ 0.10 | ||
Restricted common stock expense | $ 6,000,000 | ||
Mr. Morrow [Member] | |||
Stock-based Compensation (Textual) | |||
Shares of restricted common stock | 250,000 | 250,000 | |
Fair market value of shares | $ 0.12 | ||
Restricted common stock expense | $ 30,000 | ||
Mr. Zaidman [Member] | |||
Stock-based Compensation (Textual) | |||
Shares of restricted common stock | 150,000 | 150,000 | |
Fair market value of shares | $ 0.12 | ||
Restricted common stock expense | $ 18,000 |
Contingencies (Details)
Contingencies (Details) | 9 Months Ended |
Sep. 30, 2018 | |
Contingencies (Textual) | |
Number of defendants | 21 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) | 1 Months Ended | |
Feb. 13, 2018USD ($)shares | Aug. 18, 2017USD ($)shares | |
Consultants [Member] | ||
Stockholders' Equity (Textual) | ||
Common stock shares issued for services | 400,000 | |
Common stock value issued for services | $ | $ 48,000 | |
Number of consultants | 2 | |
Convertible note [Member] | ||
Stockholders' Equity (Textual) | ||
Converted into shares of common stock issued | 6,000,000 | |
Converted into value of common stock issued | $ | $ 6,000 | |
Convertible note [Member] | Accredited investor one [Member] | ||
Stockholders' Equity (Textual) | ||
Converted into shares of common stock issued | 3,000,000 | |
Convertible note [Member] | Accredited investor two [Member] | ||
Stockholders' Equity (Textual) | ||
Converted into shares of common stock issued | 3,000,000 |