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Consolidated Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 1,413,583 $ 5,427
Certificates of deposit (Note 4) 242,800   
Accounts receivable, less allowance for doubtful accounts of $4031 and $7600 472,156 1,291,975
Inventories 1,461,149 1,066,813
Other current assets 97,315 56,208
Deferred tax asset 470,869 396,558
Total current assets 4,157,872 2,816,981
Properties, plants and equipment, net 6,786,454 6,047,004
Restricted cash for reclamation bonds 74,777 74,777
Other assets 122,036 54,766
Total assets 11,141,139 8,993,528
Current liabilities:    
Checks issued and payable    113,908
Deferred revenue    43,760
Accounts payable 1,050,390 994,940
Accrued payroll, taxes and interest 150,288 141,928
Other accrued liabilities 33,476 119,292
Payables to related parties 46,662 331,978
Long-term debt, current 255,454 79,631
Total current liabilities 1,536,270 1,825,437
Long-term debt, net of current portion 246,815 158,218
Asset retirement and accrued reclamation costs 243,510 241,500
Total liabilities 2,026,595 2,225,155
Stockholders' equity:    
Preferred stock $0.01 par value, 10,000,000 shares authorized: Series A: no shares issued and outstanding      
Series B: 750,000 shares issued and outstanding (liquidation preference $877,500) 7,500 7,500
Series C: 177,904 shares issued and outstanding (liquidation preference $97,847) 1,779 1,779
Series D: 1,751,005 shares issued and outstanding (liquidation preference and cumulative dividends of $4,714,433) 17,509 17,509
Common stock, $0.01 par vaue, 90,000,000 shares authorized; 60,804,010 and 59,349,300 shares issued and outstanding, respectively 608,040 593,492
Additional paid-in capital 28,082,985 25,635,129
Accumulated deficit (19,603,269) (19,487,036)
Total stockholders' equity 9,114,544 6,768,373
Total liabilities and stockholders' equity $ 11,141,139 $ 8,993,528