Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Apr. 30, 2014 | Jun. 10, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Cyclone Uranium Corp | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--01-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 159,562,125 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000844788 | ' |
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 | '2015 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Apr. 30, 2014 | Jan. 31, 2014 |
CURRENT ASSETS | ' | ' |
Cash | $995 | $2,582 |
Restricted deposits | 35,184 | 35,184 |
Prepaid and other current assets | 47,607 | 81,607 |
Total Current Assets | 83,786 | 119,373 |
OTHER ASSETS | ' | ' |
Mineral interests | 1,400,000 | 1,400,000 |
Total Other Assets | 1,400,000 | 1,400,000 |
TOTAL ASSETS | 1,483,786 | 1,519,373 |
CURRENT LIABILITIES | ' | ' |
Accounts payable and accrued expenses | 350,995 | 255,886 |
Accounts payable and accrued expenses - related party | 98,349 | 88,657 |
Accounts payable and accrued expenses - shareholders | 569,366 | 550,620 |
Notes payable-shareholders | 345,000 | 345,000 |
Note payable | 300,000 | 300,000 |
Total Current Liabilities | 1,663,710 | 1,540,163 |
STOCKHOLDERS' EQUITY (DEFICIT) | ' | ' |
Common stock, $0.001 par value, 600,000,000 shares authorized 149,562,125 and 149,562,125 shares issued and outstanding, respectively | 149,561 | 149,561 |
Additional paid-in capital | 21,281,064 | 21,268,482 |
Accumulated (deficit) prior to exploration stage | -15,353,115 | -15,353,115 |
Accumulated (deficit) during exploration stage | -6,257,434 | -6,085,718 |
Total Stockholders' Equity (Deficit) | -179,924 | -20,790 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $1,483,786 | $1,519,373 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $) | Apr. 30, 2014 | Jan. 31, 2014 |
Common stock par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 600,000,000 | 600,000,000 |
Common stock, shares issued | 149,562,125 | 149,562,125 |
Common stock, shares outstanding | 149,562,125 | 149,562,125 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 159 Months Ended | |
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2014 | |
REVENUE | ' | ' | $44,240 |
COSTS AND EXPENSES | ' | ' | ' |
Cost of revenue | ' | ' | 50,000 |
Exploration expense | 34,000 | 48,748 | 1,875,311 |
Impairment of mineral interests | ' | ' | 621,277 |
Write down of inventory to fair value | ' | ' | 125,000 |
General and administrative | 85,237 | 103,939 | 4,954,313 |
TOTAL OPERATING EXPENSES | 119,237 | 152,687 | 7,625,901 |
LOSS FROM OPERATIONS | -119,237 | -152,687 | -7,581,661 |
OTHER INCOME (EXPENSES) | ' | ' | ' |
Interest expense - related party | ' | ' | -162,032 |
Interest expense | -33,734 | -33,734 | -347,487 |
Interest expense - shareholder | -18,745 | -10,268 | -134,008 |
Relief of payables and other indebtedness | ' | ' | 66,935 |
Other income | ' | ' | 2,419,978 |
Interest income | ' | 106 | 37,709 |
TOTAL OTHER INCOME (EXPENSES) | -52,479 | -43,896 | 1,881,095 |
LOSS BEFORE TAXES | -171,716 | -196,583 | -5,700,566 |
INCOME TAXES | ' | ' | -556,868 |
NET LOSS | ($171,716) | ($196,583) | ($6,257,434) |
NET LOSS PER COMMON SHARE, BASIC AND DILUTED (in Dollars per share) | $0 | $0 | ' |
WEIGHTED AVERAGE NUMBER OF COMMON STOCK SHARES OUTSTANDING, BASIC AND DILUTED (in Shares) | 149,562,125 | 141,084,597 | ' |
STATEMENTS_OF_CASH_FLOWS
STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | 159 Months Ended |
Apr. 30, 2013 | Apr. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net loss | ($196,583) | ($6,257,434) |
Adjustments to reconcile net (loss) to net cash (used in) operating activities: | ' | ' |
Income from sale of mineral interests | ' | -2,235,000 |
Writedown of inventory to market value | ' | 125,000 |
Impairment of mineral interests | ' | 621,277 |
Relief of payables and other indebtedness | ' | -66,935 |
Depreciation | ' | 7,062 |
Common stock issued for services | ' | 419,814 |
Stock compensation | 44,718 | 1,256,950 |
Non cash interest expense | ' | 66,573 |
Changes in assets and liabilities: | ' | ' |
Inventory | ' | 50,000 |
Accounts receivable, related party | -800 | ' |
Prepaid and other current assets | 70,113 | 15,099 |
Accounts payable and accrued expenses | 41,115 | 901,211 |
Accounts payable and accrued expenses, related party | 573 | 10,046 |
Asset retirement obligation | ' | -52,000 |
Accounts payable and accrued expenses - shareholders | 16,043 | 604,066 |
Net cash used in operating activities | -24,821 | -4,534,271 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Proceeds from sale of mineral interests | ' | 2,235,000 |
Release of reclamation bonds | ' | 895,000 |
Net cash provided by investing activities | ' | 3,440,393 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Repayment of amounts due to Tournigan Energy, Inc. | ' | -330,000 |
Cash received from sale of common stock | 10,000 | 1,026,486 |
Proceeds from the exercise of stock options | ' | 35,000 |
Proceeds from notes payable | ' | 485,000 |
Proceeds from notes payable - shareholder | ' | 350,500 |
Repayment of note payable - shareholder | ' | -1,181,568 |
Capital contribution by shareholder | ' | 689,068 |
Net cash provided by financing activities | 10,000 | 1,074,486 |
INCREASE DECREASE IN CASH | -14,821 | -19,392 |
Cash, beginning of period | 21,323 | 20,387 |
Cash, end of period | 6,502 | 995 |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ' | ' |
Reclassification of capital contributions to note payable | ' | ' |
Initial debt discount to record warrants to additional paid in capital | ' | 556,868 |
Conversion of notes payable and accrued interest to common stock | ' | 329,181 |
Conversion of amounts due to shareholders to common stock | ' | 374,089 |
Common shares issued for stock subscriptions - shareholder | ' | 433,813 |
Conversion of amounts due to affiliate to stock subscription | ' | 131,282 |
Purchase of inventory via direct payment by shareholder | ' | 175,000 |
Contribution of accounts payable and accrued expenses - shareholder | ' | 50,000 |
New Fork Acquisition [Member] | ' | ' |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Cash received in acquisition | ' | 297,564 |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ' | ' |
Common shares issued for New Fork acquisition | 2,030,300 | 2,030,300 |
Tournigan Acquisition [Member] | ' | ' |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Cash received in acquisition | ' | 12,829 |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ' | ' |
Contribution of amounts due Tournigan Energy Ltd to capital | ' | $873,327 |
Nature_of_Operations_and_Basis
Nature of Operations and Basis of Presentation | 3 Months Ended |
Apr. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
NOTE 1 – Nature of Operations and Basis of Presentation | |
Cyclone Uranium Corporation (“Cyclone” or the “Company”), and its subsidiaries are engaged in the business of mining and mineral exploration. This includes locating, acquiring, exploring, improving, leasing and developing mineral interests, primarily in the field of uranium. | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) pursuant to Item 210 of Regulation S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2014. | |
The accounting policies followed by the Company are set forth in Note 1 to the Company’s consolidated financial statements in the Report on Form 10-K for the year ended January 31, 2014, and are supplemented throughout the notes to condensed consolidated financial statements. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes included in the Company’s Report on the Form 10-K for the year ended January 31, 2014. | |
The accompanying condensed consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions and balances have been eliminated in consolidation. |
Going_Concern
Going Concern | 3 Months Ended |
Apr. 30, 2014 | |
Going Concern [Abstract] | ' |
Going Concern [Text Block] | ' |
NOTE 2 - Going Concern | |
The Company has an accumulated deficit of $21,610,549 and has a working capital deficit of $1,579,924 at April 30, 2014. The Company has no current revenue producing operations and is in default on its $300,000, $150,000 and $35,000 notes payable. These conditions raise substantial doubt about the Company's ability to continue as a going concern. | |
The ability of the Company to achieve its operating goals and thus positive cash flows from operations is dependent upon the future market price of metals, future capital raising efforts, and the ability to achieve and sustain efficient revenue producing operations. Management's plans will require additional financing, reduced exploration activity or disposition of or joint ventures with respect to mineral properties. While the Company has been successful in capital raising endeavors in the past, there can be no assurance that its future efforts and anticipated operating improvements will be successful. | |
The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern. |
Notes_Payable
Notes Payable | 3 Months Ended |
Apr. 30, 2014 | |
Debt Disclosure [Abstract] | ' |
Debt Disclosure [Text Block] | ' |
NOTE 3 - Notes Payable - | |
Shareholders | |
In 2005, a shareholder advanced $30,000 to the Company for working capital purposes and to assist in identification of new mining properties. This loan is due on demand and bore interest at 5% per annum through January 31, 2009, at which time the interest rate increased to 10% per annum. During the years ended January 31, 2010 and 2009, the shareholder advanced an additional $50,000 and $80,000, respectively, under substantially identical terms. On August 31, 2011, the shareholder advanced a further $150,000 and added an additional $30,000 on October 27, 2011, for a loan total of $340,000 at January 31, 2012. The additional loans were drafted under identical terms of previous loans advanced to the Company. Payments of $180,000 were made on these loans during the year ended January 31, 2013. As of April 30, 2014 principal and interest due are $160,000 and $112,766. | |
On January 7, 2013, the Company entered into an agreement with a shareholder in the form of a promissory note payable, in the amount of $35,000. The terms of the note include an interest rate of 15% that is accrued and due upon maturity. The note and accrued interest was due and payable July 7, 2013. As of April 30, 2014, the Company had recorded $6,890 in accrued interest. In connection with the note payable, the Company issued a warrant to purchase 1,000,000 shares of common stock, exercisable on or before January 7, 2016 at $0.02 per share. The fair value of the warrant at the date of grant was $25,417 using a Black Scholes option pricing model using inputs described in Note 4, and the full expense was recorded as of the date of issuance. As of April 30, 2014, the Company is in default on the note. On April 30, 2014 the balance due, including interest is $41,890. We are currently engaged in discussions with the lender to extend the note. | |
On August 30, 2013, the Company entered into an agreement with a shareholder in the form of a promissory note payable, in the amount of $150,000. The terms of the note include an interest rate of 30% per annum. The note is due and payable 120 days from August 30, 2013. In addition, the Note was secured by a pledge of certain shares of common stock owned by James Baughman. In connection with the financing agreement, on August 30, 2013 the Company issued a warrant to purchase 5,000,000 shares of common stock, exercisable on or before August 30, 2016 at $0.02 per share. The fair value of the warrant at the date of grant was $119,698 using a Black Scholes option pricing model using inputs described in Note 4. The proceeds from the note were allocated to notes payable and warrants based on the relative fair value of the debt and warrants. The remaining amount of $66,573 was amortized and expensed over the life of the note which matured December 30, 2013. As of April 30, 2014, the Company was unable to repay the note, thus, the Company is in default on the note. On April 30, 2014 the balance due, including interest is $180,205. The Company is currently engaged in settlement negotiations with lender for payment of the note. | |
Non-affiliated | |
On August 31, 2012 the Company entered into a $300,000 bridge loan financing arrangement with an unaffiliated accredited investor, the proceeds of which were used to pay maintenance fees to the Bureau of Land Management and general operating expenses of the Company. The note payable bears interest at a rate of 15% per annum and was due and payable on or before October 30, 2012. As of April 30, 2014, the Company is in default on the note. The default interest rate is 45%. As of April 30, 2014 the balance due, including interest, is $515,156. The Note is secured by all of the property of the Company in addition to a pledge of certain shares of common stock owned by James Baughman, Maria Baughman, Purcell Group LLC and Publican Capital Corporation. The Company is currently engaged in settlement negotiations with lender for payment of the note. |
Common_Stock_Options_and_Warra
Common Stock Options and Warrants | 3 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 4 - Common Stock Options and Warrants | ||||||
The Company's 2012 Stock Option Plan adopted by the Board of Directors on September 17, 2012 states that the exercise price of each option will be granted at an amount that equals the fair market value at the date of grant. All options vest at a time determined at the discretion of the Company's Board of Directors. All options expire if not exercised within 10 years from the date of grant, unless stated otherwise by the Board of Directors upon issuance. | ||||||
The Company records stock-based compensation expense ratably over the vesting period for the fair value of options granted under the Company's 2012 Stock Option Plan. The Company estimates the fair value of each stock option at the grant date by using the Black-Scholes option-pricing model. | ||||||
On March 25, 2013 the Company issued stock options to purchase 4,000,000 shares of common stock to an individual providing contract CFO services to the Company, half of which vested upon issuance and twenty five percent will vest in each of the subsequent two years of service to the Company. The options were priced at $0.02 per share and will expire five years from the date of issuance. The fair value of the option grant was estimated on the date of grant utilizing the Black-Scholes option pricing model. The fair value of these options was determined to be $79,498 Based on the following assumptions: expected life of the options of 5 years, expected volatility of 243.9%, risk-free interest rate of 0.80% and no dividend yield. These options will be expensed over their vesting schedule. | ||||||
On March 25, 2013 the Company issued stock options to purchase 500,000 shares of common stock to an individual providing contract accounting services to the Company, half of which vested upon issuance and the other half will vest after one year of service to the Company. The options were priced at $0.02 per share and will expire five years from the date of issuance. The fair value of the options granted is estimated using the market price at the end of each quarter. The fair value of these options as of the date of grant was determined to be $9,937. On the date of grant, utilizing the Black-Scholes model, the following assumptions were used: expected life of the options of 5 years, expected volatility of 243.9%, risk-free interest rate of 0.80% and no dividend yield. These options will be expensed over their vesting schedule. | ||||||
Options | Number of | Weighted | ||||
Shares | Average | |||||
Exercise | ||||||
Price | ||||||
Outstanding at January 31, 2014 | 14,750,000 | $0.12 | ||||
Issued | - | - | ||||
Exercised | - | - | ||||
Expired/Cancelled | - | - | ||||
Outstanding at April 30, 2014 | 14,750,000 | $0.12 | ||||
Exercisable at April 30, 2014 | 13,750,000 | $0.13 | ||||
The following table summarizes information about stock options at April 30, 2014: | ||||||
Range | Weighted | Contractual | Weighted | Weighted | Weighted | |
of | Average | Life | Average | Average | Average | |
Prices | Number | Exercise | Number | Exercise | ||
Outstanding | Price | Exercisable | Price | |||
$0.02 | 4,500,000 | 3.91 yrs | $0.02 | 2,250,000 | $0.02 | |
$0.05 | 2,000,000 | 2.06 yrs | $0.05 | 2,000,000 | $0.05 | |
$0.06 | 5,650,000 | 1.68 yrs | $0.06 | 3,150,000 | $0.06 | |
$0.08 | 500,000 | 0.73 yrs | $0.08 | 500,000 | $0.08 | |
$0.30 | 100,000 | 0.73 yrs | $0.30 | 100,000 | $0.30 | |
$0.60 | 2,000,000 | 1.60 yrs | $0.60 | 2,000,000 | $0.60 | |
Warrants | Number of | Weighted | ||||
Shares | Average | |||||
Exercise | ||||||
Price | ||||||
Outstanding at January 31, 2014 | 18,064,000 | $0.08 | ||||
Issued | - | - | ||||
Exercised | - | - | ||||
Expired/Cancelled | - | - | ||||
Outstanding at April 30, 2014 | 18,064,000 | $0.08 | ||||
Exercisable at April 30, 2014 | 18,064,000 | $0.08 | ||||
On April 30, 2014, the Company had the following outstanding warrants: | ||||||
Exercise | Number | Remaining | Exercise Price | Weighted | ||
Price | of Shares | Contractual | Times Number | Average | ||
Life | of Shares | Exercise | ||||
Price | ||||||
$0.02 | 12,814,000 | 2.82 yrs | $256,280 | $0.02 | ||
$0.05 | 1,000,000 | 1.14 yrs | $50,000 | $0.05 | ||
$0.25 | 4,250,000 | 2.09 yrs | $1,000,000 | $0.25 | ||
18,064,000 | ||||||
Fair Value Considerations: | ||||||
GAAP establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. As presented in the tables below, this hierarchy consists of three broad levels: | ||||||
Level 1 valuations: | Quoted prices in active markets for identical assets and liabilities. | |||||
Level 2 valuations: | 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; and model-derived valuations whose inputs or significant value drivers are observable. | |||||
Level 3 valuations: | Significant inputs to valuation model are unobservable. | |||||
We classify assets and liabilities measured at fair value in their entirety based on the lowest level of input that is significant to their fair value measurement. We measure all our stock options issued to contractors that are required to be measured at fair value on a recurring basis using Level 3 inputs. Level 3 inputs are unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. On March 25, 2013, options to purchase 4,500,000 shares of common stock were issued to contractors, which require fair value measurement for the unvested options on a quarterly basis. | ||||||
The options were revalued again using the Black-Scholes option pricing model for the quarter ended April 30, 2014 based on the following assumptions: expected life of the options of 4.00 years, expected volatility of 209.6%, risk-free interest rate of 1.69% and a stock price of $0.019 per share. Based on these assumptions, the Company calculated that the value for the unvested options had increased by $7,613 during the quarter which was recorded as a stock option expense in the quarter ended April 30, 2014. |
Related_Party_Transactions
Related Party Transactions | 3 Months Ended |
Apr. 30, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
NOTE 5 - Related Party Transactions | |
During 2011, Minex Exploration which is controlled by our Director Gregory Schifrin, provided services to New Fork related to maintaining our mining claims in Sweetwater County, Wyoming for $86,358. As of April 30, 2014, $51,359 was owed to Minex Exploration for these services. |
Subsequent_Events
Subsequent Events | 3 Months Ended |
Apr. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Note 6 - Subsequent Events | |
On June 9, 2014 the Company, issued 10,000,000 shares of common stock for a $100,000 investment received from an accredited investor. Each share will also include one warrant exercisable at $0.05 per share with a term of five years from issuance. Based on the terms and conditions of the warrants, we have concluded that all of the warrants issued meet the criteria for equity classification. |
Common_Stock_Options_and_Warra1
Common Stock Options and Warrants (Tables) | 3 Months Ended | |||||
Apr. 30, 2014 | ||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||
Options | Number of | Weighted | ||||
Shares | Average | |||||
Exercise | ||||||
Price | ||||||
Outstanding at January 31, 2014 | 14,750,000 | $0.12 | ||||
Issued | - | - | ||||
Exercised | - | - | ||||
Expired/Cancelled | - | - | ||||
Outstanding at April 30, 2014 | 14,750,000 | $0.12 | ||||
Exercisable at April 30, 2014 | 13,750,000 | $0.13 | ||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | |||||
Range | Weighted | Contractual | Weighted | Weighted | Weighted | |
of | Average | Life | Average | Average | Average | |
Prices | Number | Exercise | Number | Exercise | ||
Outstanding | Price | Exercisable | Price | |||
$0.02 | 4,500,000 | 3.91 yrs | $0.02 | 2,250,000 | $0.02 | |
$0.05 | 2,000,000 | 2.06 yrs | $0.05 | 2,000,000 | $0.05 | |
$0.06 | 5,650,000 | 1.68 yrs | $0.06 | 3,150,000 | $0.06 | |
$0.08 | 500,000 | 0.73 yrs | $0.08 | 500,000 | $0.08 | |
$0.30 | 100,000 | 0.73 yrs | $0.30 | 100,000 | $0.30 | |
$0.60 | 2,000,000 | 1.60 yrs | $0.60 | 2,000,000 | $0.60 | |
Schedule Of Share Based Compensation Warrant Activity Table Text Block | ' | |||||
Warrants | Number of | Weighted | ||||
Shares | Average | |||||
Exercise | ||||||
Price | ||||||
Outstanding at January 31, 2014 | 18,064,000 | $0.08 | ||||
Issued | - | - | ||||
Exercised | - | - | ||||
Expired/Cancelled | - | - | ||||
Outstanding at April 30, 2014 | 18,064,000 | $0.08 | ||||
Exercisable at April 30, 2014 | 18,064,000 | $0.08 | ||||
Schedule Of Share Based Compensation Shares Authorized Under Warrants Plans By Exercise Price Range TableText Block | ' | |||||
Exercise | Number | Remaining | Exercise Price | Weighted | ||
Price | of Shares | Contractual | Times Number | Average | ||
Life | of Shares | Exercise | ||||
Price | ||||||
$0.02 | 12,814,000 | 2.82 yrs | $256,280 | $0.02 | ||
$0.05 | 1,000,000 | 1.14 yrs | $50,000 | $0.05 | ||
$0.25 | 4,250,000 | 2.09 yrs | $1,000,000 | $0.25 | ||
18,064,000 |
Going_Concern_Details
Going Concern (Details) (USD $) | Apr. 30, 2014 |
Going Concern (Details) [Line Items] | ' |
Retained Earnings (Accumulated Deficit) | ($21,610,549) |
Working Capital Deficit | 1,579,924 |
Note Payable 1 [Member] | ' |
Going Concern (Details) [Line Items] | ' |
Debt Default, Short-term Debt, Amount | 300,000 |
Note Payable 2 [Member] | ' |
Going Concern (Details) [Line Items] | ' |
Debt Default, Short-term Debt, Amount | 150,000 |
Note Payable 3 [Member] | ' |
Going Concern (Details) [Line Items] | ' |
Debt Default, Short-term Debt, Amount | $35,000 |
Notes_Payable_Details
Notes Payable (Details) (USD $) | 3 Months Ended | 12 Months Ended | 159 Months Ended | 1 Months Ended | 4 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||
Apr. 30, 2014 | Apr. 30, 2013 | Jan. 31, 2010 | Apr. 30, 2014 | Jan. 31, 2014 | Apr. 30, 2014 | Aug. 31, 2013 | Apr. 30, 2014 | Jan. 07, 2014 | Jan. 07, 2013 | Aug. 30, 2013 | Dec. 31, 2013 | Apr. 30, 2014 | Aug. 31, 2013 | Oct. 27, 2011 | Aug. 31, 2011 | Jan. 31, 2013 | Jan. 31, 2009 | Jan. 31, 2005 | Apr. 30, 2014 | Jan. 31, 2012 | |
Bridge Loan [Member] | Bridge Loan [Member] | Agreement with a Shareholder In Form of a Promissory Note Payable on January 7, 2013 [Member] | Agreement with a Shareholder In Form of a Promissory Note Payable on January 7, 2013 [Member] | Agreement with a Shareholder In Form of a Promissory Note Payable on January 7, 2013 [Member] | Agreement with a Shareholder In Form of a Promissory Note Payable on August 30, 2013 [Member] | Agreement with a Shareholder In Form of a Promissory Note Payable on August 30, 2013 [Member] | Agreement with a Shareholder In Form of a Promissory Note Payable on August 30, 2013 [Member] | Agreement with a Shareholder In Form of a Promissory Note Payable on August 30, 2013 [Member] | Shareholders Loan [Member] | Shareholders Loan [Member] | Shareholders Loan [Member] | Shareholders Loan [Member] | Shareholders Loan [Member] | Shareholders Loan [Member] | Shareholders Loan [Member] | ||||||
Notes Payable (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Related Party Debt | ' | ' | ' | $350,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $30,000 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | 15.00% | 30.00% | ' | ' | ' | ' | ' | ' | 10.00% | 5.00% | ' | ' |
Proceeds from Issuance of Debt | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 | 150,000 | ' | 80,000 | ' | ' | ' |
Notes Payable, Related Parties, Current | 345,000 | ' | ' | 345,000 | 345,000 | ' | ' | 41,890 | ' | ' | ' | ' | 180,205 | ' | ' | ' | ' | ' | ' | 160,000 | 340,000 |
Repayments of Related Party Debt | ' | ' | ' | 1,181,568 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 180,000 | ' | ' | ' | ' |
Interest Payable | ' | ' | ' | ' | ' | ' | ' | 6,890 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 112,766 | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,000 | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Share) | $0.08 | ' | ' | $0.08 | $0.08 | ' | ' | ' | $0.02 | ' | $0.02 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Not Settleable in Cash, Fair Value Disclosure | ' | ' | ' | ' | ' | ' | ' | ' | 25,417 | ' | 119,698 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable Expiration Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '120 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of Debt Discount (Premium) | ' | ' | ' | 66,573 | ' | ' | ' | ' | ' | ' | ' | 66,573 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bridge Loan | $515,156 | ' | ' | $515,156 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000 | ' | ' | ' | ' | ' | ' | ' |
Debt Default Short Term Debt Interest Rate | ' | ' | ' | ' | ' | 45.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common_Stock_Options_and_Warra2
Common Stock Options and Warrants (Details) (USD $) | 3 Months Ended | 0 Months Ended | ||||
Apr. 30, 2014 | Apr. 30, 2014 | Mar. 25, 2013 | Mar. 25, 2013 | Mar. 25, 2013 | Mar. 25, 2013 | |
Employee Stock Option [Member] | Individual Providing Contract CFO Services [Member] | Individual Providing Contract Accounting Services [Member] | Individual Providing Contract CFO Services [Member] | Contractors [Member] | ||
Twenty Twelve Stock Option Plan [Member] | Each of the Subsequent Two Years of Service [Member] | |||||
Common Stock Options and Warrants (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | ' | '10 years | '5 years | '5 years | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | ' | 4,000,000 | 500,000 | ' | 4,500,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | ' | ' | ' | ' | 25.00% | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | ' | ' | $0.02 | $0.02 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars) | ' | ' | $79,498 | $9,937 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '4 years | ' | '5 years | '5 years | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 209.60% | ' | 243.90% | 243.90% | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.69% | ' | 0.80% | 0.80% | ' | ' |
Share Price (in Dollars per share) | $0.02 | ' | ' | ' | ' | ' |
Stock or Unit Option Plan Expense (in Dollars) | $7,613 | ' | ' | ' | ' | ' |
Common_Stock_Options_and_Warra3
Common Stock Options and Warrants (Details) - Stock options activity (USD $) | 3 Months Ended |
Apr. 30, 2014 | |
Stock options activity [Abstract] | ' |
Outstanding at January 31, 2014 | 14,750,000 |
Outstanding at January 31, 2014 | $0.12 |
Issued | ' |
Issued | ' |
Exercised | ' |
Exercised | ' |
Expired/Cancelled | ' |
Expired/Cancelled | ' |
Outstanding at April 30, 2014 | 14,750,000 |
Outstanding at April 30, 2014 | $0.12 |
Exercisable at April 30, 2014 | 13,750,000 |
Exercisable at April 30, 2014 | $0.13 |
Common_Stock_Options_and_Warra4
Common Stock Options and Warrants (Details) - Information about stock options (USD $) | 3 Months Ended |
Apr. 30, 2014 | |
Range Of Price 0. 02 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Prices | $0.02 |
Weighted Average Number Outstanding (in Shares) | 4,500,000 |
Contractual Life | '3 years 332 days |
Weighted Average Exercise Price | $0.02 |
Weighted Average Number Exercisable (in Shares) | 2,250,000 |
Weighted Average Exercise Price | $0.02 |
Range Of Price 0. 05 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Prices | $0.05 |
Weighted Average Number Outstanding (in Shares) | 2,000,000 |
Contractual Life | '2 years 21 days |
Weighted Average Exercise Price | $0.05 |
Weighted Average Number Exercisable (in Shares) | 2,000,000 |
Weighted Average Exercise Price | $0.05 |
Range Of Price 0. 06 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Prices | $0.06 |
Weighted Average Number Outstanding (in Shares) | 5,650,000 |
Contractual Life | '1 year 248 days |
Weighted Average Exercise Price | $0.06 |
Weighted Average Number Exercisable (in Shares) | 3,150,000 |
Weighted Average Exercise Price | $0.06 |
Range Of Price 0. 08 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Prices | $0.08 |
Weighted Average Number Outstanding (in Shares) | 500,000 |
Contractual Life | '266 days |
Weighted Average Exercise Price | $0.08 |
Weighted Average Number Exercisable (in Shares) | 500,000 |
Weighted Average Exercise Price | $0.08 |
Range Of Price 0. 30 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Prices | $0.30 |
Weighted Average Number Outstanding (in Shares) | 100,000 |
Contractual Life | '266 days |
Weighted Average Exercise Price | $0.30 |
Weighted Average Number Exercisable (in Shares) | 100,000 |
Weighted Average Exercise Price | $0.30 |
Range Of Price 0. 60 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Prices | $0.60 |
Weighted Average Number Outstanding (in Shares) | 2,000,000 |
Contractual Life | '1 year 219 days |
Weighted Average Exercise Price | $0.60 |
Weighted Average Number Exercisable (in Shares) | 2,000,000 |
Weighted Average Exercise Price | $0.60 |
Common_Stock_Options_and_Warra5
Common Stock Options and Warrants (Details) - Warrant activity (USD $) | 3 Months Ended |
Apr. 30, 2014 | |
Warrant activity [Abstract] | ' |
Outstanding at January 31, 2014 | 18,064,000 |
Outstanding at January 31, 2014 (in Dollars per Item) | $0.08 |
Issued | ' |
Issued (in Dollars per share) | ' |
Exercised | ' |
Exercised (in Dollars per share) | ' |
Expired/Cancelled | ' |
Outstanding at April 30, 2014 | 18,064,000 |
Outstanding at April 30, 2014 (in Dollars per Share) | $0.08 |
Exercisable at April 30, 2014 | 18,064,000 |
Exercisable at April 30, 2014 (in Dollars per share) | $0.08 |
Common_Stock_Options_and_Warra6
Common Stock Options and Warrants (Details) - Information about outstanding warrants (USD $) | Apr. 30, 2014 | Jan. 31, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 |
Exercise Price 0. 02 [Member] | Exercise Price 0. 05 [Member] | Exercise Price 0. 25 [Member] | |||
Common Stock Options and Warrants (Details) - Information about outstanding warrants [Line Items] | ' | ' | ' | ' | ' |
Exercise Price | ' | ' | '$0.02 | '$0.05 | '$0.25 |
Number of Shares | 18,064,000 | 18,064,000 | 12,814,000 | 1,000,000 | 4,250,000 |
Remaining Contractual Life | ' | ' | '2 years 299 days | '1 year 51 days | '2 years 32 days |
Exercise Price Times Number of Shares (in Dollars) | ' | ' | $256,280 | $50,000 | $1,000,000 |
Weighted Average Exercise Price (in Dollars per Share) | $0.08 | $0.08 | $0.02 | $0.05 | $0.25 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (Minex Exploration [Member], USD $) | 12 Months Ended | |
Jan. 31, 2011 | Apr. 30, 2014 | |
Minex Exploration [Member] | ' | ' |
Related Party Transactions (Details) [Line Items] | ' | ' |
Related Party Transaction, Amounts of Transaction | $86,358 | ' |
Due to Related Parties, Current | ' | $51,359 |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | Apr. 30, 2014 | Jan. 31, 2014 | Jun. 09, 2014 |
Subsequent Event [Member] | |||
An Accredited Investor [Member] | |||
Subsequent Events (Details) [Line Items] | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | 10,000,000 |
Stock Issued During Period, Value, New Issues | ' | ' | $100,000 |
Number Of Warrants Included In Each Share Issuable To Investor | ' | ' | 1 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $0.08 | $0.08 | $0.05 |
Warrant Term | ' | ' | '5 years |