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Consolidated Balance Sheets

In USD, except per-share amounts
Q3 FY2014
As of May 31, 2014
Q2 FY2014
As of Feb 28, 2014
Q1 FY2014
As of Nov 30, 2013
Q4 FY2013
As of Aug 31, 2013
Q3 FY2013
As of May 31, 2013
Q2 FY2013
As of Feb 28, 2013
Q1 FY2013
As of Nov 30, 2012
Q4 FY2012
As of Aug 31, 2012
Q3 FY2012
As of May 31, 2012
Q2 FY2012
As of Feb 29, 2012
Assets
Current assets:
Cash and cash equivalents
Prepaid expenses
Cash
Other current assets
Total Current Assets
Deposits
Mineral properties
Property and equipment, net
Total Assets
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts payable and accrued expenses (including accounts payable to related parties of $246,516 and $166,523, respectively)
Accrued interest
Cash overdraft
Accounts payable
Accrued expenses
Due to related parties
Notes payable
Warrant liability
Derivative liability
Total Current Liabilities
Convertible promissory note, net of discounts of $-0- and $409,626, respectively
Derivative liability
Long term debt
Convertible note payable, net of unamortized debt discounts of $1,038,151
Total Liabilities
Stockholders' deficit:
Common stock, $0.001 par value, 625,000 shares authorized (see subsequent event - Note 11), 470,973 and 375,000 shares issued and outstanding as of May 31, 2014 and August 31, 2013, respectively
Capital in excess of par value
Subscriptions received
Additional paid in capital
Common stock to be issued of 9,531,503 and 8,625,000 (see subsequent event - Note 11) as of May 31, 2014 and August 31, 2013, respectively
Accumulated deficit
Accumulated other comprehensive income
Total Stockholders' Deficiency
Total Liabilities and Stockholders' Deficiency

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