Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
 9 Months Ended 29 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Cash Flows From Operating Activities:      
Net Loss $ (510,128) $ (4,602,018) $ (8,156,020)
Adjustments to reconcile net loss to net cash used in operations      
Amortization of prepaid expenses       95,034
Amortization of debt issuance costs    517 5,206
Amortization of debt discount 27,022 83,305 480,986
Impairmnet of mineral rights       500,000
Derivative liability expense    174,129 174,128
Change in fair value of derivative liabilities (22,807) (55,155) 497,393
Stock based consulting       130,000
Stock based compensation expense    41,516 373,648
Common stock issued for services    3,500,000 3,500,000
Changes in operating assets and liabilities:      
Decrease in prepaid expenses 7,500 24,445 11,141
Increase/(decrease) accounts payable and accrued expenses 498,393 690,777 1,604,652
Net Cash Used In Operating Activities (20) (142,484) (783,831)
Cash Flows From Financing Activities:      
Proceeds from issuance of preferred stock       50,000
Proceeds from issuance of common stock       550,000
Net proceeds from debentures    127,500 127,500
Net Cash Provided by Financing Activities    127,500 727,500
Net decrease in Cash (20) (14,984) (56,331)
Cash at Beginning of Period 20 15,047 56,331
Cash at End of Period    63   
Supplemental disclosure of cash flow information:      
Cash paid for interest         
Cash paid for taxes         
Supplemental disclosure of non-cash investing and financing activities:      
Contributed capital in connection with an extinguishment of a convertible debenture       31,666
Issuance of common stock for convertible debentures    55,000 505,000
Reclassification of derivative liability to equity       9,662,196
Issuance of common stock in connection with the transfer and conveyance of certain silver mining claim       500,000
Issuance of convertible promissory notes    $ 105,882 $ 105,882