Did that horse move? Beat it again.
"Don't look now, but I see revenues listed in those 10Ks referenced"
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Aren't we missing "gold sales" somewhere? You can just make it up yoself?
It's been EXPENSED to cost
Then thar is "PLACER AND EXPERIMENTALMINERALS "???? revenue. funding costs.
"2013, we had revenues of $1,158,742 compared to $239,911 for the year ended March 31, 2012. We recorded revenues of $1,419,653 for the cumulative period from September 18, 2009 (Exploration Stage Re-Entry) through March 31, 2013.
The revenues of $1,158,742 for the year ended March 31, 2013 are from our gold mining operations in Mexico. While the Company is in the exploration stage we are earning revenue from placer operations and experimental mineral processing to help fund our exploration activities.
The revenues of $239,911 for the year ended March 31, 2012 are from our mining and salvage operations".
WHAT, no "GOLD MINING SALES"? Just revenue unclaimed?
Operating Expenses
Total operating expenses increased to $5,459,567 during the year ended March 31, 2013, compared to $1,698,898 for the year ended March 31, 2012. Total operating expenses for the period from September 18, 2009 (exploration stage re-entry) through March 31, 2013 were $9,940,802. The increase in operating expenses for each of these periods was due to our expansion into the mining operations through the exploration activities of our properties, bad debt expense, stock-based expenses and impairment of mineral property. These were off set with a gain of $283,715 on the settlement of debt during the year ended March 31, 2013 compared to $0 during the same period in 2012. During the year ended March 31, 2013, we settled various advances, notes payable and accounts payable with shares of our common stock.
Other Income (Expense)
We incurred $32,611 of interest expense during the year ended March 31, 2013 compared to $52,945 during the same period in 2012. The decrease is attributable to a decrease in our borrowings during the year ended March 31, 2013.
Liquidity and Capital Resources
At March 31, 2013, we had cash of $104,701 compared to $0 at March 31, 2012. This increase in cash is primarily due to REVENUE and the issuance of notes payable and shares of common stock."
Is that Revenue from "GOLD"? Never mind just make it up. SEC wont care.
"The Company relied upon the EXEMPTION PROVIDED BY RULE 506 of the Securities and Exchange Commission in connection with sale of the securities described above. The persons who acquired these securities were sophisticated investors AND WERE PROVIDED FULL INFORMATION REGARDING THE COMPANY'S BUSINESS AND OPERATIONS."
Entire long bd denial was first the Rule exemption exists and that a non resource test miner CANNOT claim gold sales as an asset. MUST be called something other than an asset and usually an expensed cost. Then as now even gets called "Gold Medallions". Come on, man!
AI
