Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Oct. 31, 2014 | Dec. 11, 2014 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Cyclone Uranium Corp | |
Document Type | 10-Q | |
Current Fiscal Year End Date | -30 | |
Entity Common Stock, Shares Outstanding | 159,562,125 | |
Amendment Flag | FALSE | |
Entity Central Index Key | 844788 | |
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 | 31-Oct-14 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q3 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Oct. 31, 2014 | Jan. 31, 2014 |
CURRENT ASSETS | ||
Cash | $323 | $2,582 |
Restricted deposits | 35,184 | 35,184 |
Prepaid and other current assets | 1,000 | 81,607 |
Total Current Assets | 36,507 | 119,373 |
OTHER ASSETS | ||
Mineral interests | 1,400,000 | |
Total Other Assets | 1,400,000 | |
TOTAL ASSETS | 36,507 | 1,519,373 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 366,779 | 255,886 |
Accounts payable and accrued expenses - related party | 107,350 | 88,657 |
Accounts payable and accrued expenses - shareholders | 555,230 | 550,620 |
Notes payable-shareholders | 195,000 | 345,000 |
Note payable | 300,000 | 300,000 |
Total Current Liabilities | 1,524,359 | 1,540,163 |
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Common stock, $0.001 par value, 600,000,000 shares authorized 159,562,125 and 149,562,125 shares issued and outstanding, respectively | 159,561 | 149,561 |
Additional paid-in capital | 21,369,193 | 21,268,482 |
Accumulated (deficit) | -23,016,606 | -21,438,833 |
Total Stockholders' Equity (Deficit) | -1,487,852 | -20,790 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $36,507 | $1,519,373 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parentheticals) (USD $) | Oct. 31, 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 | 159,562,125 | 149,562,125 |
Common stock, shares outstanding | 159,562,125 | 149,562,125 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statement of Operations (unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2014 | Oct. 31, 2013 | |
REVENUE | ||||
COSTS AND EXPENSES | ||||
Exploration expense | 11,461 | 34,470 | 80,607 | 137,383 |
General and administrative | 37,504 | 36,102 | 144,186 | 266,494 |
TOTAL OPERATING EXPENSES | 48,965 | 70,572 | 224,793 | 403,877 |
LOSS FROM OPERATIONS | -48,965 | -70,572 | -224,793 | -403,877 |
OTHER INCOME (EXPENSES) | ||||
Interest expense - related party | ||||
Interest expense | -34,872 | -34,872 | -103,478 | -103,477 |
Interest expense - shareholder | -5,323 | -48,503 | -43,446 | -68,003 |
Impairment of mineral interests | -1,400,000 | -1,400,000 | ||
Relief of payables and other indebtedness | 188,836 | 188,836 | ||
Other income | 5,108 | 5,108 | 105 | |
TOTAL OTHER INCOME (EXPENSES) | -1,246,251 | -83,375 | -1,352,980 | -171,375 |
LOSS BEFORE TAXES | -1,295,216 | -153,947 | -1,577,773 | -575,252 |
INCOME TAXES | ||||
NET LOSS | ($1,295,216) | ($153,947) | ($1,577,773) | ($575,252) |
NET LOSS PER COMMON SHARE, BASIC AND DILUTED (in Dollars per share) | ($0.01) | $0 | ($0.01) | $0 |
WEIGHTED AVERAGE NUMBER OF COMMON STOCK SHARES OUTSTANDING, BASIC AND DILUTED (in Shares) | 157,388,212 | 149,404,516 | 154,836,850 | 144,622,632 |
Statements_Of_Cash_Flows_Unaud
Statements Of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
Oct. 31, 2014 | Oct. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | ($1,577,773) | ($575,252) |
Adjustments to reconcile net (loss) to net cash (used in) operating activities: | ||
Impairment of mineral interests | 1,400,000 | |
Relief of payables and other indebtedness | -188,836 | |
Stock based compensation | 10,711 | 52,193 |
Non cash interest expense | 33,286 | |
Changes in assets and liabilities: | ||
Prepaid and other current assets | 80,607 | 15,536 |
Accounts payable and accrued expenses | 110,893 | 109,055 |
Accounts payable and accrued expenses, related party | 18,693 | -8,030 |
Accounts payable and accrued expenses - shareholders | 43,446 | 40,492 |
Net cash used in operating activities | -102,259 | -332,720 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Cash received from sale of common stock | 100,000 | 170,000 |
Proceeds from notes payable | 150,000 | |
Net cash provided by financing activities | 100,000 | 320,000 |
INCREASE DECREASE IN CASH | -2,259 | -12,720 |
Cash, beginning of period | 2,582 | 21,323 |
Cash, end of period | $323 | $8,603 |
Nature_of_Operations_and_Basis
Nature of Operations and Basis of Presentation | 9 Months Ended |
Oct. 31, 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. | |
In June 2014, the FASB issued ASU No. 2014-10, which amended Accounting Standards Codification (ASC) Topic 915 Development Stage Entities. The amendment eliminates certain financial reporting requirements surrounding development stage entities, including an amendment to the variable interest entities guidance in ASC Topic 810, Consolidation. The amendment removes the definition of a development stage entity from the ASC, thereby removing the financial reporting distinction between development stage entities and other entities from U.S. GAAP. Consequently, the amendment eliminates the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. | |
This amendment is effective for fiscal years beginning after December 15, 2014, and interim periods therein. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued. The Company has made the election to early adopt this amendment effective June 30, 2014 and, as a result, the Company is no longer presenting or disclosing the information previously required under Topic 915. The early adoption was made to reduce data maintenance by removing all incremental financial reporting requirements for development stage entities. The adoption of this amendment alters the disclosure requirements of the Company, but it does not have any material impact on the Company’s financial position or results of operations for the current or any prior reporting periods. | |
In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-15, “Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). ASU 2014-15 is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. The amendments in this ASU are effective for reporting periods beginning after December 15, 2016, with early adoption permitted. We are currently assessing the impact the adoption of ASU 2014-15 will have on our financial statements and related disclosures. | |
Going_Concern
Going Concern | 9 Months Ended |
Oct. 31, 2014 | |
Going Concern [Abstract] | |
Going Concern [Text Block] | NOTE 2 - Going Concern |
The Company has an accumulated deficit of $23,016,606 and has a working capital deficit of $1,487,852 at October 31, 2014. The Company has no current revenue producing operations and is in default on all of its outstanding debt. 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 | 9 Months Ended |
Oct. 31, 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 October 31, 2014 principal and interest due are $160,000 and $126,189. | |
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 October 31, 2014, the Company had recorded $8,213 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 5, and the full expense was recorded as of the date of issuance. As of October 31, 2014, the Company is in default on the note. On October 31, 2014 the balance due, including interest is $44,536. 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 was 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, CEO of the Company. 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 5. 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. | |
On August 27, 2014, the Company entered into a Settlement Agreement and General Release document with the lender that releases the Company’s obligation to pay on this note in exchange for 400,000 common shares of WestMountain Gold, Inc. that had been pledged by James Baughman, which had been collateralized per the note. The principal balance due of $150,000, accrued interest of $38,836 and legal expenses of $2,500, for a total of $191,336, was due on this obligation. The Company recorded an accrual and legal expense for the $2,500. The principal and interest was recorded as other income as a debt extinguishment. With the release of this obligation, the Company has $-0- balance due on 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 October 31, 2014, the Company is in default on the note. The default interest rate is 45%. As of October 31, 2014 the balance due, including interest, is $584,900. 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. | |
Stockholders_Equity_Deficit
Stockholders' Equity (Deficit) | 9 Months Ended |
Oct. 31, 2014 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 4 – Stockholders’ Equity (Deficit) |
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 also includes 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_Warra
Common Stock Options and Warrants | 9 Months Ended | |||||
Oct. 31, 2014 | ||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 5 - 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. | ||||||
Weighted | ||||||
Average | ||||||
Number of | Exercise | |||||
Options | Shares | Price | ||||
Outstanding at January 31, 2014 | 14,750,000 | $0.12 | ||||
Issued | - | - | ||||
Exercised | - | - | ||||
Expired/Cancelled | - | - | ||||
Outstanding at October 31, 2014 | 14,750,000 | $0.12 | ||||
Exercisable at October 31, 2014 | 13,750,000 | $0.13 | ||||
The following table summarizes information about stock options at October 31, 2014: | ||||||
Weighted | Weighted Average | Weighted | Weighted | |||
Range | Average | Exercise | Average | Average | ||
of | Number | Contractual | Price | Number | Exercise | |
Prices | Outstanding | Life | Exercisable | Price | ||
$0.02 | 4,500,000 | 3.40 yrs | $0.02 | 3,500,000 | $0.02 | |
$0.05 | 2,000,000 | 1.55 yrs | $0.05 | 2,000,000 | $0.05 | |
$0.06 | 5,650,000 | 1.18 yrs | $0.06 | 3,150,000 | $0.06 | |
$0.08 | 500,000 | 0.22 yrs | $0.08 | 500,000 | $0.08 | |
$0.30 | 100,000 | 0.22 yrs | $0.30 | 100,000 | $0.30 | |
$0.60 | 2,000,000 | 1.35 yrs | $0.60 | 2,000,000 | $0.60 | |
Weighted | ||||||
Average | ||||||
Number of | Exercise | |||||
Warrants | Shares | Price | ||||
Outstanding at January 31, 2014 | 18,064,000 | $0.08 | ||||
Issued | 10,000,000 | $0.05 | ||||
Exercised | - | - | ||||
Expired/Cancelled | - | - | ||||
Outstanding at October 31, 2014 | 28,064,000 | $0.07 | ||||
Exercisable at October 31, 2014 | 28,064,000 | $0.07 | ||||
On October 31, 2014, the Company had the following outstanding warrants: | ||||||
Exercise Price | Weighted | |||||
Remaining | Times Number | Average | ||||
Exercise | Number | Contractual | of Shares | Exercise | ||
Price | of Shares | Life | Price | |||
$0.02 | 12,814,000 | 2.32 yrs | $256,280 | $0.02 | ||
$0.05 | 11,000,000 | 4.25 yrs | $550,000 | $0.05 | ||
$0.25 | 4,250,000 | 3.58 yrs | $1,000,000 | $0.25 | ||
28,064,000 | ||||||
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 October 31, 2014 based on the following assumptions: expected life of the options of 3.50 years, expected volatility of 205.34%, risk-free interest rate of 1.62% and a stock price of $0.01 per share. Based on these assumptions, the Company calculated that the value for the unvested options had decreased by $2,938 during the quarter which was recorded as a negative stock option expense in the quarter ended October 31, 2014. | ||||||
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Oct. 31, 2014 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 6 - 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 October 31, 2014, $51,359 was owed to Minex Exploration for these services. | |
Mineral_Interests_and_Maintena
Mineral Interests and Maintenance Fees | 9 Months Ended |
Oct. 31, 2014 | |
Mineral Interest And Maintenance Fees Disclosure [Abstract] | |
Mineral Interest And Maintenance Fees Disclosure [Text Block] | NOTE 7 – Mineral Interests and Maintenance Fees |
On September 2, 2014 the annual lease payments to the Bureau of Land Management were due for our federal mining claims covering about 10,000 acres of land in Arizona and Wyoming and account for substantially all of the assets in the Company. We were unable to raise the capital required to make these payments to the BLM and as a result have lost all rights and interests in these claims. As of October 31, 2014, the Company recorded a loss of $1.4 million related to the mineral interests. For the three months ended October 31, 2014, the Company recorded an exploration expense of $11,461. All prepaid expenses related to maintenance fees are now at $-0- on the Balance Sheet. | |
Management is currently assessing the options for the Company going forward. | |
Common_Stock_Options_and_Warra1
Common Stock Options and Warrants (Tables) | 9 Months Ended | |||||
Oct. 31, 2014 | ||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted | |||||
Average | ||||||
Number of | Exercise | |||||
Options | Shares | Price | ||||
Outstanding at January 31, 2014 | 14,750,000 | $0.12 | ||||
Issued | - | - | ||||
Exercised | - | - | ||||
Expired/Cancelled | - | - | ||||
Outstanding at October 31, 2014 | 14,750,000 | $0.12 | ||||
Exercisable at October 31, 2014 | 13,750,000 | $0.13 | ||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ||||||
Weighted | Weighted Average | Weighted | Weighted | |||
Range | Average | Exercise | Average | Average | ||
of | Number | Contractual | Price | Number | Exercise | |
Prices | Outstanding | Life | Exercisable | Price | ||
$0.02 | 4,500,000 | 3.40 yrs | $0.02 | 3,500,000 | $0.02 | |
$0.05 | 2,000,000 | 1.55 yrs | $0.05 | 2,000,000 | $0.05 | |
$0.06 | 5,650,000 | 1.18 yrs | $0.06 | 3,150,000 | $0.06 | |
$0.08 | 500,000 | 0.22 yrs | $0.08 | 500,000 | $0.08 | |
$0.30 | 100,000 | 0.22 yrs | $0.30 | 100,000 | $0.30 | |
$0.60 | 2,000,000 | 1.35 yrs | $0.60 | 2,000,000 | $0.60 | |
Schedule Of Share Based Compensation Warrant Activity [Table Text Block] | Weighted | |||||
Average | ||||||
Number of | Exercise | |||||
Warrants | Shares | Price | ||||
Outstanding at January 31, 2014 | 18,064,000 | $0.08 | ||||
Issued | 10,000,000 | $0.05 | ||||
Exercised | - | - | ||||
Expired/Cancelled | - | - | ||||
Outstanding at October 31, 2014 | 28,064,000 | $0.07 | ||||
Exercisable at October 31, 2014 | 28,064,000 | $0.07 | ||||
Schedule Of Share Based Compensation Shares Authorized Under Warrants Plans By Exercise Price Range [Table Text Block] | ||||||
Exercise Price | Weighted | |||||
Remaining | Times Number | Average | ||||
Exercise | Number | Contractual | of Shares | Exercise | ||
Price | of Shares | Life | Price | |||
$0.02 | 12,814,000 | 2.32 yrs | $256,280 | $0.02 | ||
$0.05 | 11,000,000 | 4.25 yrs | $550,000 | $0.05 | ||
$0.25 | 4,250,000 | 3.58 yrs | $1,000,000 | $0.25 | ||
28,064,000 |
Going_Concern_Details
Going Concern (Details) (USD $) | Oct. 31, 2014 | Jan. 31, 2014 |
Going Concern [Abstract] | ||
Retained Earnings (Accumulated Deficit) | ($23,016,606) | ($21,438,833) |
Working Capital Deficit | $1,487,852 |
Notes_Payable_Details
Notes Payable (Details) (USD $) | 0 Months Ended | 4 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||
Aug. 30, 2013 | Dec. 31, 2013 | Aug. 27, 2014 | Oct. 27, 2011 | Aug. 31, 2011 | Jan. 31, 2013 | Jan. 31, 2010 | Jan. 31, 2009 | Jan. 31, 2005 | Oct. 31, 2014 | Jun. 09, 2014 | Jan. 31, 2014 | Jan. 07, 2014 | Jan. 07, 2013 | Aug. 31, 2012 | Oct. 30, 2012 | Jan. 31, 2012 | |
Notes Payable (Details) [Line Items] | |||||||||||||||||
Notes Payable, Related Parties, Current | $195,000 | $345,000 | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $0.07 | $0.05 | $0.08 | ||||||||||||||
Bridge Loan | 584,900 | ||||||||||||||||
Agreement With A Shareholder In Form Of A Promissory Note Payable On January 7 2013 [Member] | |||||||||||||||||
Notes Payable (Details) [Line Items] | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 15.00% | ||||||||||||||||
Notes Payable, Related Parties, Current | 44,536 | ||||||||||||||||
Interest Payable, Current | 8,213 | ||||||||||||||||
Debt Instrument, Face Amount | 35,000 | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 1,000,000 | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $0.02 | ||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | 25,417 | ||||||||||||||||
Agreement With A Shareholder In Form Of A Promissory Note Payable On August 30 2013 [Member] | |||||||||||||||||
Notes Payable (Details) [Line Items] | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 30.00% | ||||||||||||||||
Debt Instrument, Face Amount | 150,000 | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 5,000,000 | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $0.02 | ||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | 119,698 | ||||||||||||||||
Notes Payable Expiration Period | 120 days | ||||||||||||||||
Amortization of Debt Discount (Premium) | 66,573 | ||||||||||||||||
Bridge Loan | 300,000 | ||||||||||||||||
Settlement Agreement [Member] | |||||||||||||||||
Notes Payable (Details) [Line Items] | |||||||||||||||||
Notes Payable, Related Parties, Current | 191,336 | 0 | |||||||||||||||
Interest Payable, Current | 38,836 | ||||||||||||||||
Debt Instrument, Face Amount | 150,000 | ||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 400,000 | ||||||||||||||||
Legal Fees | 2,500 | ||||||||||||||||
Bridge Loan [Member] | |||||||||||||||||
Notes Payable (Details) [Line Items] | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 15.00% | ||||||||||||||||
Debt Default Short Term Debt Interest Rate | 45.00% | ||||||||||||||||
Shareholders Loan [Member] | |||||||||||||||||
Notes Payable (Details) [Line Items] | |||||||||||||||||
Proceeds from Related Party Debt | 30,000 | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | 5.00% | |||||||||||||||
Proceeds from Issuance of Debt | 30,000 | 150,000 | 50,000 | 80,000 | |||||||||||||
Notes Payable, Related Parties, Current | 160,000 | 340,000 | |||||||||||||||
Repayments of Related Party Debt | 180,000 | ||||||||||||||||
Interest Payable, Current | $126,189 |
Stockholders_Equity_Deficit_De
Stockholders' Equity (Deficit) (Details) (USD $) | 0 Months Ended | |||
Jun. 09, 2014 | Oct. 31, 2014 | Jun. 09, 2014 | Jan. 31, 2014 | |
Stockholders' Equity Note [Abstract] | ||||
Stock Issued During Period, Shares, New Issues | 10,000,000 | |||
Stock Issued During Period, Value, New Issues (in Dollars) | $100,000 | |||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $0.07 | $0.05 | $0.08 | |
Warrant Expiration Term | 5 years |
Common_Stock_Options_and_Warra2
Common Stock Options and Warrants (Details) (USD $) | 9 Months Ended | 0 Months Ended |
Oct. 31, 2014 | Mar. 25, 2013 | |
Common Stock Options and Warrants (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 3 years 6 months | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 205.34% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.62% | |
Share Price (in Dollars per share) | $0.01 | |
Stock or Unit Option Plan Expense (in Dollars) | $2,938 | |
Individual Providing Contract CFO Services [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, Award Vesting Rights, Percentage | 25.00% | |
Individual Providing Contract CFO Services [Member] | ||
Common Stock Options and Warrants (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 4,000,000 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | 0.02 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars) | 79,498 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 243.90% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.80% | |
Individual Providing Contract Accounting Services [Member] | ||
Common Stock Options and Warrants (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 500,000 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | 0.02 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars) | 9,937 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 243.90% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.80% | |
Contractors [Member] | ||
Common Stock Options and Warrants (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 4,500,000 | |
Employee Stock Option [Member] | 2012 Stock Option Plan [Member] | ||
Common Stock Options and Warrants (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Common_Stock_Options_and_Warra3
Common Stock Options and Warrants (Details) - Stock options activity (USD $) | 9 Months Ended |
Oct. 31, 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 October 31, 2014 | 14,750,000 |
Outstanding at October 31, 2014 | $0.12 |
Exercisable at October 31, 2014 | 13,750,000 |
Exercisable at October 31, 2014 | $0.13 |
Common_Stock_Options_and_Warra4
Common Stock Options and Warrants (Details) - Information about stock options (USD $) | 9 Months Ended |
Oct. 31, 2014 | |
Range Of Price 0.02 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Weighted Average Number Outstanding | 4,500,000 |
Contractual Life | 3 years 146 days |
Weighted Average Exercise Price (in Dollars per share) | $0.02 |
Weighted Average Number Exercisable | 3,500,000 |
Weighted Average Exercise Price (in Dollars per share) | $0.02 |
Range Of Price 0.05 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Weighted Average Number Outstanding | 2,000,000 |
Contractual Life | 1 year 200 days |
Weighted Average Exercise Price (in Dollars per share) | $0.05 |
Weighted Average Number Exercisable | 2,000,000 |
Weighted Average Exercise Price (in Dollars per share) | $0.05 |
Range Of Price 0.06 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Weighted Average Number Outstanding | 5,650,000 |
Contractual Life | 1 year 65 days |
Weighted Average Exercise Price (in Dollars per share) | $0.06 |
Weighted Average Number Exercisable | 3,150,000 |
Weighted Average Exercise Price (in Dollars per share) | $0.06 |
Range Of Price 0.08 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Weighted Average Number Outstanding | 500,000 |
Contractual Life | 80 days |
Weighted Average Exercise Price (in Dollars per share) | $0.08 |
Weighted Average Number Exercisable | 500,000 |
Weighted Average Exercise Price (in Dollars per share) | $0.08 |
Range Of Price 0.30 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Weighted Average Number Outstanding | 100,000 |
Contractual Life | 80 days |
Weighted Average Exercise Price (in Dollars per share) | $0.30 |
Weighted Average Number Exercisable | 100,000 |
Weighted Average Exercise Price (in Dollars per share) | $0.30 |
Range Of Price 0.60 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Weighted Average Number Outstanding | 2,000,000 |
Contractual Life | 1 year 127 days |
Weighted Average Exercise Price (in Dollars per share) | $0.60 |
Weighted Average Number Exercisable | 2,000,000 |
Weighted Average Exercise Price (in Dollars per share) | $0.60 |
Common_Stock_Options_and_Warra5
Common Stock Options and Warrants (Details) - Warrant activity (USD $) | 9 Months Ended | |
Oct. 31, 2014 | Jun. 09, 2014 | |
Warrant activity [Abstract] | ||
Outstanding at January 31, 2014 | 18,064,000 | |
Outstanding at January 31, 2014 | $0.08 | $0.05 |
Issued | 10,000,000 | |
Issued | $0.05 | |
Exercised | ||
Exercised | ||
Expired/Cancelled | ||
Expired/Cancelled | ||
Outstanding at October 31, 2014 | 28,064,000 | |
Outstanding at October 31, 2014 | $0.07 | $0.05 |
Exercisable at October 31, 2014 | 28,064,000 | |
Exercisable at October 31, 2014 | $0.07 |
Common_Stock_Options_and_Warra6
Common Stock Options and Warrants (Details) - Information about outstanding warrants (USD $) | 9 Months Ended | ||
Oct. 31, 2014 | Jun. 09, 2014 | Jan. 31, 2014 | |
Common Stock Options and Warrants (Details) - Information about outstanding warrants [Line Items] | |||
Number of Shares | 28,064,000 | 18,064,000 | |
Weighted Average Exercise Price (in Dollars per share) | $0.07 | $0.05 | $0.08 |
Exercise Price 0.02 [Member] | |||
Common Stock Options and Warrants (Details) - Information about outstanding warrants [Line Items] | |||
Number of Shares | 12,814,000 | ||
Remaining Contractual Life | 2 years 116 days | ||
Exercise Price Times Number of Shares (in Dollars) | $256,280 | ||
Weighted Average Exercise Price (in Dollars per share) | $0.02 | ||
Exercise Price 0.05 [Member] | |||
Common Stock Options and Warrants (Details) - Information about outstanding warrants [Line Items] | |||
Number of Shares | 11,000,000 | ||
Remaining Contractual Life | 4 years 3 months | ||
Exercise Price Times Number of Shares (in Dollars) | 550,000 | ||
Weighted Average Exercise Price (in Dollars per share) | $0.05 | ||
Exercise Price 0.25 [Member] | |||
Common Stock Options and Warrants (Details) - Information about outstanding warrants [Line Items] | |||
Number of Shares | 4,250,000 | ||
Remaining Contractual Life | 3 years 211 days | ||
Exercise Price Times Number of Shares (in Dollars) | $1,000,000 | ||
Weighted Average Exercise Price (in Dollars per share) | $0.25 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (Minex Exploration [Member], USD $) | 12 Months Ended | |
Jan. 31, 2011 | Oct. 31, 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 |
Mineral_Interests_and_Maintena1
Mineral Interests and Maintenance Fees (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2014 | Oct. 31, 2013 | Sep. 02, 2014 | |
acre | |||||
Mineral Interests and Maintenance Fees (Details) [Line Items] | |||||
Land Subject to Ground Leases (in Acres) | 10,000 | ||||
Impairment of Intangible Assets, Finite-lived | $1,400,000 | $1,400,000 | |||
Exploration Costs, Period Cost | 11,461 | 34,470 | 80,607 | 137,383 | |
Maintenance Fees [Member] | |||||
Mineral Interests and Maintenance Fees (Details) [Line Items] | |||||
Prepaid Expense, Current | $0 | $0 |