10-Q/A

UNITED STATES SECURITIES AND

EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A

Amendment Number 2

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended December 31, 2018

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to _______________

Commission file number: 1-03319

Mineral Mountain Mining & Milling Company

(Exact name of registrant as specified in its charter)

Idaho	82-0144710
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification Number)

 

Mineral Mountain Mining & Milling Company

13 Bow Circle, Suite 170

Hilton Head, South Carolina 29928

(917) 587-8153

(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)

_________________________________________________

(Former name and former address, if changed since last report)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒     No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒     No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether registrant is a shell company (as defined in Rule 12b-2 of the Act): Yes ☐     No ☒

As of March 6, 2019, there were 66,619,733 shares of the issuer’s common stock outstanding.

Explanatory Note

Mineral Mountain Mining & Milling Company (“we”, “our”, the “Company”) is filing this Amendment No. 2 on Form 10-Q/A (the “Amendment”) to update the signature page, the certifications of our Chief Executive Officer/Chief Financial Officer in Exhibits 31.1 and 32.1 and to provide our amended financial statements (the html format was filed on March 6, 2019) formatted in Extensible Business Reporting Language (XBRL).

Item 6. Exhibits (Restated)

The following is a list of exhibits filed as part of this Quarterly Report on Form 10-Q.

Exhibit No.
31.1	Certification of Principal Executive Officer Pursuant to Section 302 of The Sarbanes-Oxley Act of 2002.
32.1	Certification of Principal Executive Officer Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002.

2

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Amended Report to be signed on its behalf by the undersigned, thereunto duly authorized.

Signature	Capacity	Date
/s/ Sheldon Karasik	Chief Executive Officer, Chairman and Director (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)	March 7, 2019
Sheldon Karasik

 

Pursuant to the requirements of the Securities Exchange Act of 1934, this Amended Report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature	Capacity	Date
/s/ Sheldon Karasik	Chief Executive Officer, Chairman and Director (Principal Executive Officer, Principal Financial/Accounting Officer)	March 7, 2019
Sheldon Karasik

Signature	Capacity	Date
/s/ Felix Keller	Director	March 7, 2019
Felix Keller

Signature	Capacity	Date
/s/ Michael S. Miller	Director	March 7, 2019
Michael S. Miller

3

EX-31.1

EXHIBIT 31.1

CERTIFICATION

I, Sheldon Karasik, certify that:

1. I have reviewed this Restated and Amended Quarterly Report on Form 10-Q/A for the quarter ended December 31, 2018, of Mineral Mountain Mining & Milling Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: March 7, 2019

/s/ Sheldon Karasik

Sheldon Karasik

Chairman of the Board/Chief Executive Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the accompanying Amended and Restated Quarterly Report on Form 10-Q/A of Mineral Mountain Mining & Milling Company for the fiscal quarter ended December 31, 2018, I certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to my knowledge, that:

(1) the Amended and Restated Quarterly Report on Form 10-Q/A of Mineral Mountain Mining & Milling Company for the fiscal quarter ended December 31, 2018, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Amended and Restated Quarterly Report on Form 10-Q/A for the fiscal quarter ended December 31, 2018, fairly presents in all material respects, the financial condition and results of operations of Mineral Mountain Mining & Milling Company.

By:	/s/ Sheldon Karasik
Name:	Sheldon Karasik
Title:	Chairman of the Board/Chief Executive Officer
Date:	March 7, 2019

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Mineral Mountain Mining & Milling Company and will be retained by Mineral Mountain Mining & Milling Company and furnished to the Securities and Exchange Commission or its staff upon request.

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Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2018	Mar. 04, 2019
Document And Entity Information
Entity Registrant Name	MINERAL MOUNTAIN MINING & MILLING CO
Entity Central Index Key	0000066600
Document Type	10-Q/A
Document Period End Date	Dec. 31, 2018
Amendment Flag	true
Amendment Description	Mineral Mountain Mining & Milling Company (“we”, “our”, the “Company”) is filing this Amendment No. 2 on Form 10-Q/A (the “Amendment”) to update the signature page, the certifications of our Chief Executive Officer/Chief Financial Officer in Exhibits 31.1 and 32.1 and to provide our amended financial statements (the html format was filed on March 6, 2019) formatted in Extensible Business Reporting Language (XBRL).
Current Fiscal Year End Date	--09-30
Is Entity's Reporting Status Current?	Yes
Is Entity Emerging Growth Company?	true
Elected Not To Use the Extended Transition Period	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Common Stock, Shares Outstanding		66,619,733
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019

XML

CONSOLIDATED BALANCE SHEETS (RESTATED) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
CURRENT ASSETS
Cash and cash equivalents	$ 41,671	$ 1,900
Total Current Assets	41,671	1,900
TOTAL ASSETS	41,671	1,900
CURRENT LIABILITIES
Accounts payable	16,685	21,084
Accrued interest	7,500	8,002
Deferred payroll	47,970	74,257
Notes payable - related party	57,000	57,000
Convertible debt, net	5,351
Derivative liability	95,405
Total Current Liabilities	229,911	160,343
TOTAL LIABILITIES	229,911	160,343
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock, $.10 par value, 10,000,000 shares authorized, none issued and outstanding
Common stock, $0.001 par value, 100,000,000 shares authorized; 64,371,162 and 60,436,162 shares issued and outstanding	64,371	60,436
Additional paid-in capital	3,074,665	2,752,600
Shares to be issued		55,000
Accumulated deficit	(3,327,276)	(3,026,479)
Total Stockholders' Deficit	(188,240)	(158,443)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 41,671	$ 1,900

XML

CONSOLIDATED BALANCE SHEETS (RESTATED) (Parenthetical) - $ / shares	Dec. 31, 2018	Sep. 30, 2018
STOCKHOLDERS' EQUITY
Preferred stock, par value	$ 0.10	$ 0.10
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	100,000,000	100,000,000
Common stock, issued	64,371,162	60,436,162
Common stock, outstanding	64,371,162	60,436,162

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CONSOLIDATED STATEMENTS OF OPERATIONS (RESTATED) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Consolidated Statements Of Operations
REVENUES
OPERATING EXPENSES
Professional fees	55,542	14,325
General and administrative	78,591	34,757
Officers' fees	99,110
Mineral property expense	27,301
TOTAL OPERATING EXPENSES	260,544	49,082
LOSS FROM OPERATIONS	(260,544)	(49,082)
OTHER INCOME (EXPENSES)
Interest expense	(4,848)	(1,302)
Loss on issuance of convertible debt	(71,158)
Gain on revaluation of derivative	35,753
TOTAL OTHER INCOME (EXPENSES)	(40,253)	(1,302)
LOSS BEFORE TAXES	(300,797)	(50,384)
INCOME TAXES
NET LOSS	$ (300,797)	$ (50,384)
NET LOSS PER COMMON SHARE, BASIC AND DILUTED	$ (0.00)	$ (0.00)
WEIGHTED AVERAGE NUMBER OF COMMON STOCK SHARES OUTSTANDING, BASIC AND DILUTED	65,592,829	55,882,829

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CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (RESTATED) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Shares to be Issued	Total
Beginning balance, shares at Sep. 30, 2016	48,816,162
Beginning balance, amount at Sep. 30, 2016	$ 48,816	$ 2,349,186	$ (2,409,117)	$ 40,000	$ 28,885
Common stock issued for cash, shares	3,000,000
Common stock issued for cash, amount	$ 3,000	50,333		(40,000)	13,333
Common stock issued for services, shares	2,000,000
Common stock issued for services, amount	$ 2,000	38,000			40,000
Warrants		6,667			6,667
Net loss			(154,028)		(154,028)
Ending balance, shares at Sep. 30, 2017	53,816,162
Ending balance, amount at Sep. 30, 2017	$ 53,816	2,444,186	(2,563,145)		(65,143)
Common stock issued for cash, shares	3,700,000
Common stock issued for cash, amount	$ 3,700	127,801			131,501
Common stock issued for services, amount
Net loss			(50,384)		(50,384)
Ending balance, shares at Dec. 31, 2017	57,516,162
Ending balance, amount at Dec. 31, 2017	$ 57,516	2,571,987	(2,613,529)		(15,974)
Beginning balance, shares at Sep. 30, 2017	53,816,162
Beginning balance, amount at Sep. 30, 2017	$ 53,816	2,444,186	(2,563,145)		(65,143)
Common stock issued for cash, amount					$ 224,100
Common stock issued for services, shares					30,000
Common stock issued for services, amount					$ 45,500
Common stock issued for reimbursement of mineral claims, shares					500,000
Ending balance, shares at Sep. 30, 2018	60,436,162
Ending balance, amount at Sep. 30, 2018	$ 60,436	2,752,600	(3,026,479)	55,000	$ (158,443)
Beginning balance, shares at Dec. 31, 2017	57,516,162
Beginning balance, amount at Dec. 31, 2017	$ 57,516	2,571,987	(2,613,529)		(15,974)
Common stock issued for cash, shares	2,060,000
Common stock issued for cash, amount	$ 2,060	90,539		55,000	279,100
Common stock issued for services, shares	300,000
Common stock issued for services, amount	$ 300	45,200			45,500
Common stock issued for reimbursement of mineral claims, shares	500,000
Common stock issued for reimbursement of mineral claims, amount	$ 500	4,540			5,040
Warrants issued for directors' fees		39,194			39,194
Exercise of warrants, shares	60,000
Exercise of warrants, amount	$ 60	1,140			1,200
Net loss			(463,334)		(463,334)
Ending balance, shares at Sep. 30, 2018	60,436,162
Ending balance, amount at Sep. 30, 2018	$ 60,436	2,752,600	(3,026,479)	55,000	(158,443)
Common stock issued for cash, shares	3,925,000
Common stock issued for cash, amount	$ 3,925	170,075		(55,000)	119,000
Common stock issued for services, shares	200,000
Common stock issued for services, amount	$ 200	49,800			50,000
Common stock issued for director’s fees, shares	110,000
Common stock issued for director’s fees, amount	$ 110	21,890			22,000
Common stock issued for officer’s fees, shares	4,000,000
Common stock issued for officer’s fees, amount	$ 4,000	76,000			80,000
Rescinded shares, shares	(4,300,000)
Rescinded shares, amount	$ (4,300)	4,300
Net loss			(300,797)		(300,797)
Ending balance, shares at Dec. 31, 2018	64,371,162
Ending balance, amount at Dec. 31, 2018	$ 64,371	$ 3,074,665	$ 3,327,276		$ (188,240)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (RESTATED) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (300,797)	$ (50,384)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Amortization of debt discount	5,351
Common stock issued for services	50,000
Common stock issued for officers’ and directors’ fees	22,000
Loss on issuance of convertible debt	71,158
Gain on revaluation of derivative liabilities	(35,753)
Changes in assets and liabilities:
Decrease (increase) in prepaid expense		(1,397)
Increase (decrease) in accounts payable	(4,339)	(10,803)
Increase (decrease) in accrued interest	(502)	1,302
Decrease (increase) in deferred payroll	53,713
Net cash used by operating activities	(139,229)	(61,282)
CASH FLOWS FROM INVESTING ACTIVITIES:
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock and warrants	119,000	131,500
Proceeds from convertible debt	60,000
Net cash provided by financing activities	179,000	131,500
INCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS	39,771	70,218
Cash, beginning of period	1,900	5,011
Cash, end of period	41,671	75,229
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid
Income taxes paid

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ORGANIZATION AND DESCRIPTION OF BUSINESS

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Mineral Mountain Mining & Milling Company (“the Company”) was incorporated under the laws of the State of Idaho on August 4, 1932 and is publicly held. The Company was incorporated for the purpose of mining and exploring for non-ferrous and precious metals, primarily silver, lead and copper. The Company has two wholly owned subsidiaries, Nomadic Gold Mines, Inc., an Alaska corporation, and Lander Gold Mines, Inc., a Wyoming corporation. The Company currently holds 66 claim blocks in Alaska, through its subsidiary, Nomadic Gold Mines, Inc.

The foregoing unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, these financial statements do not include all of the disclosures required by generally accepted accounting principles in the United States of America for complete financial statements. These unaudited interim financial statements should be read in conjunction with the Company’s audited financial statements for the year ended September 30, 2018. In the opinion of management, the unaudited interim financial statements furnished herein includes all adjustments, all of which are of a normal recurring nature, necessary for a fair statement of the results for the interim period presented. Operating results for the three month period ended December 31, 2018 are not necessarily indicative of the results that may be expected for the year ending September 30, 2019.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (RESTATED)

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (RESTATED)

This summary of significant accounting policies of Mineral Mountain Mining & Milling Company and its two wholly owned subsidiaries is presented to assist in understanding the Company’s financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States and have been consistently applied in the preparation of the financial statements.

Fair Value of Financial Instruments

The Company’s financial instruments as defined by ASC 825-10-50, include cash, receivables, accounts payable and accrued expenses. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at September 30, 2018 and December 31, 2018.

The standards under ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. FASB ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:

Level 1. Observable inputs such as quoted prices in active markets;

Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3. Unobservable inputs in which there is little of no market data, which require the reporting entity to develop its own assumptions.

The Company has convertible debt of $5,351 measured at fair value at December 31, 2018.

Going Concern

As shown in the accompanying financial statements, the Company has incurred cumulative operating losses since inception. As of December 31, 2018, the Company has limited financial resources with which to achieve its objectives and attain profitability and positive cash flows from operations. As shown in the accompanying balance sheets and statements of operations, the Company has an accumulated deficit of $3,327,276. The Company’s working capital deficit is $188,240.

Achievement of the Company’s objectives will depend on its ability to obtain additional financing, to generate revenue from current and planned business operations, and to effectively operating and capital costs.

The Company plans to fund its future operations by potential sales of its common stock or by issuing debt securities. However, there is no assurance that the Company will be able to achieve these objectives, therefore substantial doubt about its ability to continue as a going concern exists.

Provision for Taxes

Income taxes are provided based upon the liability method of accounting pursuant to ASC 740-10-25 Income Taxes – Recognition. Under the approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end. A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard imposed by ASC 740-10-25-5 to allow recognition of such an asset. See Note 9.

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RESTATEMENT OF FINANCIAL STATEMENTS

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 3 - RESTATEMENT OF FINANCIAL STATEMENTS

In November 2018, information came to the attention of Company management that led it to investigate whether one of the Company’s property and mineral leases, its Alaska Mineral Lease, qualified for early adoption of ASU No. 2016-02, resulting in the recognition of a right of use asset and lease liability in accordance with ASC 842, was the absolute best accounting practice or whether the scope exception applied and the lease payments should have been expensed as incurred in accordance with the scope exception of ASC 842. Company management concluded on February 14, 2019 and notified the Board that a portion of its financial statements should no longer be relied upon because of an error in such financial statements. Company management further concluded that the Company could properly early adopt ASC 842, but that we determined the scope exception applied and that it should account for the Alaska Mineral Lease payments as expenses as incurred pursuant to the scope exception of ASC 842. On February 15, 2019, the Company’s independent registered public accounting firm, Fruci & Associates II, PLLC (“Fruci”), concurred with these conclusions and that the financial statements should be amended to reflect this change, including in the financial statements for the quarter ending December 31, 2018.

The Company determined that it had made an error in how it implemented ASU No. 2016-02, Leases as it relates to the Alaska Mineral Lease and Option to Purchase. The ASU-842-10-15 scope exception states that the topic does not apply to “Leases to explore for or use minerals, oil, natural gas, and similar nonregenerative resources. This includes rights to explore for those natural resources and rights to use the land in which those natural resources are contained (that is, unless those rights of use include more than the right to explore for natural resources), but not equipment used to explore for the natural resources.” The Company believed that there was an infrastructure asset present on the Company’s leased property in the form of unpaved roads and an exclusive right to use that infrastructure pursuant to the terms of the Alaska Mineral Lease that met the requirement that the lease include more that the right to explore for natural resources. Company Management has since determined that this infrastructure asset may not meet that criteria, and as a result the Company has restated the accompanying financial statements to reflect this change.

The effects of the adjustments on the Company’s previously issued financial statements for the quarters ended December 31, 2018 and December 31, 2017 are summarized as follows:

	Originally			Restatement			As
Consolidated Balance Sheets (Restated)	Reported			Adjustment			Restated
As of December 31, 2017
Investment in mineral lease	$	336,000		$	(336,000	)	$	-
Mineral lease, net	$	176,818		$	(176,818	)	$	-
Accrued lease payments	$	10,000		$	(10,000	)	$	-
Long term mineral lease liability	$	232,318		$	(232,318	)	$	-
Accumulated deficit	$	(2,343,029	)	$	(270,500	)	$	(2,613,529	)
Earnings per share	$	-		$	-		$	-
Consolidated Statements of Operations
For the quarter ended December 31, 2017
Mineral Property Expense	$	10,000			(10,000	)		-
Total operating expenses	$	59,082		$	(10,000	)	$	49,082
Consolidated Statements of Cash Flows
For the quarter ended December 31, 2017
Decrease in accounts payable	$	(2,200	)	$	(8,603	)	$	(10,803	)

	Originally			Restatement			As
Consolidated Balance Sheets (Restated)	Reported			Adjustment			Restated
As of December 31, 2018
Investment in mineral lease	$	336,000		$	(336,000	)	$	-
Mineral lease, net	$	101,498		$	(101,498	)	$	-
Long term mineral lease liability	$	216,817		$	(216,817	)	$	-
Accumulated deficit	$	(3,106,595	)	$	(270,681	)	$	(3,327,276	)
Earnings per share	$	-		$	-		$	-

A discussion of the Company’s improvements in its disclosure controls and procedures is contained in Item 9A of the “Controls and Procedures” section in the Company’s Amended Annual Report on Form 10-K/A for the year ending September 30, 2018.

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MINING CLAIMS AND LAND (RESTATED)

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 4 - MINING CLAIMS AND LAND (RESTATED)

Alaska Mineral Lease and Option to Purchase

On April 5, 2016, the Company signed a Lease Agreement with Option to Purchase thirty contiguous mining claims known as the Caribou Mining Claims consisting of 4,800 acres in the State of Alaska. The agreement consists of two parts, an Option to Purchase and until such time as the Option to Purchase is exercised, the Agreement is considered a lease. This was a related party transaction.

Option to Purchase

The Option to Purchase may be exercised without pre-payment penalty at any time prior to the ninth anniversary of the effective date of the agreement which would be April 5, 2025 by remitting $5,000,000. In order to maintain the Option to Purchase the Company must make expenditures for work on the property as follows:

Work Expenditure Commitments
Due Before	Amount
December 1, 2019	$	150,000
December 1, 2020		250,000
December 1, 2021		500,000
December 1, 2022		1,000,000
December 1, 2023		1,000,000
December 1, 2024		1,000,000
Total	$	3,900,000

Lease

In order to maintain the Option to Purchase the Company shall make the following lease payments.

Lease Payment Obligations
Date Due	Amount
April 5, 2016	$	20,000
April 5, 2016		5,000
April 5, 2019		10,000
April 5, 2020		20,000
April 5, 2021		40,000
April 5, 2022		70,000
April 5, 2023		100,000
Total	$	265,000
Paid during year ended September 30, 2017		0
Balance at September 30, 2017	$	240,000
Paid during year ended September 30, 2018		0
Balance at September 30, 2018	$	240,000
Paid during the period ended December 31, 2018		0
Balance at December 31, 2018		240,000

There was additional consideration of 11,200,000 shares of common stock valued at $336,000 recorded as mineral property expense.

In addition, under the agreement a royalty equal to two percent (2%) of the net smelter returns derived by the Company shall be payable, without regard to whether the Option to Purchase has been exercised. No royalties have been incurred as of December 31, 2018 or September 30, 2018.

On August 17, 2018, the Company agreed to an amendment to Lease Agreement with Option to Purchase, with effect on April 18, 2016, for the Caribou Mining Claims modifying the payment schedules for the lease payments and option to purchase to accommodate the Company’s efforts to secure additional capital investment for the Caribou Mining Claims resulting in significant savings and flexibility to the Company.

Lewis Mineral Lease and Option to Purchase

On December 18, 2017, the Company signed a Lease Agreement with Option to Purchase sixteen unpatented mining claims known as the Lewiston Claims and three patented mining claims known as the Hidden Hand, Morris and Casselton Claims, located in the State of Wyoming. The agreement consists of two parts, an option to purchase and until such time as the Option to Purchase is exercised, the Agreement is considered a lease.

Option to Purchase

The Option to Purchase may be exercised without pre-payment penalty at any time prior to the seventh anniversary of the effective date of the agreement which would be December 18, 2024 by remitting $1,000,000. In order to maintain the Option to Purchase the Company must make six annual payments all of which will be credited to the purchase price beginning on December 18, 2018 and continuing until December 18, 2023.

Lease

In order to maintain the Option to Purchase the Company shall make the following lease payments.

Lease Payment Obligations
Date Due	Amount
June 18, 2018	$	20,000
December 18, 2018		30,000
December 18, 2019		30,000
December 18, 2020		30,000
December 18, 2021		30,000
December 18, 2022		30,000
December 18, 2023		30,000
Total	$	200,000

The parties to the lease amended the payment schedule to indefinitely defer $35,000 in lease payments from the June 18, 2018 and December 18, 2018 payment periods.

There was additional consideration of 500,000 warrants to purchase shares of common stock value.

In addition, under the agreement a royalty equal to three percent (3%) of the net smelter returns derived by the Company shall be payable, without regard to whether the Option to Purchase has been exercised. No royalties have been incurred as of December 31, 2018.

The parties to the lease amended the payment schedule to defer $7,500 in lease payments indefinitely.

Helen G Mineral Lease

On March 8, 2018, the Company signed a Lease Agreement for three patented mining claims known as the Helen G. (a/k/a Allen G), Mill and Star Lode Claims, located in the State of Wyoming.

Under the agreement a royalty shall be paid as follows:

• If the monthly average per troy ounce of gold is over $1,500 the royalty shall be 3.5% of net smelter returns.

• If the monthly average per troy ounce of gold is greater than $1,400 but less than $1,500, the royalty shall be 3.0% of net smelter returns.

• If the monthly average per troy ounce of gold is greater than $1,300 but less than $1,400, the royalty shall be 2.5% of net smelter returns.

• If the monthly average per troy ounce of gold is $1,300 or less the royalty shall be 2.0% of net smelter returns.

No royalties have been incurred as of December 31, 2018.

Lease

In order to maintain its lease the Company shall make a $2,500 advance royalty payments at execution of the agreement and on each yearly anniversary for as long as the agreement is in effect. These advance royalty payments will be credited to the production royalty payments owed above. The failure of the Company to timely tender the advance royalty payment may terminate this lease.

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EQUITY PURCHASE AGREEMENT

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 5 - EQUITY PURCHASE AGREEMENT

The Company entered into an Equity Purchase Agreement, dated as of October 1, 2018 (the “Equity Purchase Agreement”), by and between the Company and Crown Bridge Partners, LLC (the “Crown Bridge”) pursuant to which the Company has agreed to issue to Crown Bridge shares of the Company’s Common Stock, $0.001 par value (the “Common Stock”), in an amount up to Five Million Dollars ($5,000,000.00) (the “Shares”), in accordance with the terms of the Equity Purchase Agreement. In connection with the transactions contemplated by the Equity Purchase Agreement, the Company is required to register with the SEC the following shares of Common Stock: (1) 8,000,000 Put Shares to be issued to the Investors upon purchase from the Company by the Investors from time to time pursuant to the terms and conditions of the Equity Purchase Agreement; (2) 1,428,571 shares of Common Stock to be issued by the Company to the Investors as a commitment fee pursuant to the Equity Purchase Agreement; and (3) the Company also has entered into a Registration Rights Agreement, of even date with the Equity Purchase Agreement with the Investors (the “Registration Rights Agreement”) pursuant to which the Company agreed, among other things, to register the Put Shares under the Securities Act of 1933, as amended (the “Securities Act”) relating to the resale of the Put Shares.

The Company intends to use the proceeds of the revolving credit line for general corporate purposes, which may include (i) acquisitions, (ii) refinancing or repayment of indebtedness, (iii) capital expenditures and working capital, (iv) investing in equipment and property development (which may include funding associated with exploration), and (v) pursuing other business opportunities both related and unrelated to our existing mining activities.

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CONVERTIBLE DEBT

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 6 - CONVERTIBLE DEBT

On or about November 27, 2018, the Company issued a convertible promissory note with Power Up Lending Group Ltd. (“Power Up”) for the principal sum of $63,000.00, together with interest, with a maturity date of November 27, 2019. The Company agreed to pay interest on the unpaid principal balance at the rate of 12%per annum from the date thereof until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment. Power Up has the right at any time during the period beginning 180 days following the date of the Note to convert all or any part of the outstanding and unpaid principal amount of the Note into fully paid and non-assessable shares of Common Stock. The conversion price shall be equal to the Variable Conversion Price, which is 58% multiplied by the Market Price (representing a discount rate of 42%), in which Market Price is the average of the lowest two (2) Trading Prices for the Company’s Common Stock during the preceding 15 trading day period prior to the Conversion Date. The Company paid $3,000 as a fee which is recorded as a debt discount and being amortized over the life of the loan.

The conversion feature of the note represents an embedded derivative. A derivative liability with an intrinsic value of $0.1770 was $131,158 using a binomial pricing model and was calculated as a discount to the note. That amount is recorded as a new contra-note payable amount (similar to the recorded OID and transaction costs and amounts discussed immediately below), but only for an amount not in excess of and thus capped by the otherwise undiscounted amount of the note payable. Because of the derivative nature of the $131,158 valuation of the conversion feature, $71,158 is recorded as an expense in the current period and reported as a loss on issuance of convertible debt.

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COMMON STOCK

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 7 - COMMON STOCK

Upon formation the authorized capital of the Company was 2,000,000 shares of common stock with a par value of $.05, in 1953 the Company increased the authorized capital to 3,000,000 shares of common stock, in 1985 the authorized capital was again increased to 10,000,000 shares of common stock, and in 2014 the Company increased the authorized capital to 100,000,000 shares of common stock with a par value of $.001 and 10,000,000 shares of preferred stock with a par value of $.10.

During the year ended September 30, 2018, the Company issued 5,760,000 shares of common stock for cash of $224,100; 1,275,000 shares of common stock for cash of $55,000 that were unissued as of September 30, 2018; 300,000 shares of common stock for services valued at $45,500; and 500,000 shares of common stock for reimbursement of mineral claim fees. Additionally, 280,000 warrants were issued for directors fees at an exercise price of $0.02 and a term of two years. The fair value of the warrants was estimated using the Black Scholes Option Price Calculation. The following assumptions were made to value the warrants on the date of issuance: strike price of $0.02, risk free interest rate of 1.99%, expected life of two years, and expected volatility of 495.28%. The fair value of the warrants totaled $39,194 at the issuance date and this amount was recorded as equity. Also during the period 60,000 options were exercised at a price of $.02 for cash in the amount of $1200.00

During the three month period ended December 31, 2018, the Company issued 2,650,000 shares of common stock for cash of $119,000; 1,275,000 shares that were paid for but unissued as of September 30, 2018; 200,000 shares of common stock for services valued at $50,000; 110,000 shares for directors’ fees valued at $22,000; and 4,000,000 shares for settlement of accumulated officers’ fees valued at $80,000.

Additionally, in 2016, former management of the Company negotiated a contract with M6 Limited, a stock promotion company, in which M6 would collectively receive an advanced payment of 4.3 million shares of Company common stock for certain promotional services. M6 itself received 2 million shares, an affiliated company, Maximum Harvest LLC, received 1.3 million shares and an affiliate of M6, Hahn M. Nguyen, received 1 million shares. In 2018, current management determined that it was not in the best interest of the Company to pursue the services and therefore terminated the contract with M6. The 4.3 million shares of common stock have been rescinded and, with the consent of M6, the process for the physical return of the shares is near completion.

The following warrants were outstanding at December 31, 2018:

Warrant Type	Warrants Issued and Unexercised		Exercise Price		Expiration Date
Warrants		1,000,000	$	0.05	December 2021
Warrants		500,000	$	0.10	December 2021
Warrants		220,000	$	0.02	January 2020

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RELATED PARTY TRANSACTIONS

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 8 - RELATED PARTY TRANSACTIONS

During the year ended September 30, 2016 the Company issued a note payable to a family member of an officer in the amount of $15,000. $3,000 was converted to 300,000 shares of common stock and $5,000 was repaid in cash. The note bears interest at a rate of 10% beginning on July 24, 2016 and, in the event of demand for payment, a default interest rate of 15% applies. The balance of principal and interest at December 31, 2018 and September 30, 2018 was $9,967 and $9,660, respectively.

Also during the year ended September 30, 2016, the Company through its wholly owned subsidiary, Nomadic Gold Mines, Inc, entered into a lease agreement with option to purchase with Ben Porterfield, a related party. See Note 4.

During the year ended September 30, 2017 the Company issued two notes payable to Premium Exploration Mining in the amount of $35,000 and $15,000 each having an interest rate of 5%, the balance of principal and interest at December 31, 2018 and September 30, 2018 was $57,127 and $55,342, respectively, the companies had directors in common until October 31, 2018.

A family member of an officer provides investor relations consulting services and other administrative functions to the Company, during the period ended December 31, 2018, $10,000 was paid in cash for consulting; during the period ended December 31, 2017, $4,500 was paid in cash for consulting.

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INCOME TAXES (RESTATED)

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 9 - INCOME TAXES (RESTATED)

Topic 740 in the Accounting Standards Codification (ASC 740) prescribes recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. At December31, 2018 the Company had taken no tax positions that would require disclosure under ASC 740.

The Company files income tax returns in the U.S. federal jurisdiction and the State of Idaho. The Company is currently in arrears in filing their federal and state tax returns, both jurisdictions statute of limitations of three years does not begin until the tax returns are filed.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for income tax purposes.

Significant components of the deferred tax assets at an anticipated tax rate 21% for the period ended December 31, 2018 and September 30, 2018 are as follows:

	December 31, 2018			September 30, 2018
Net operating loss carryforwards		3,327,276			3,026,479
Deferred tax asset		1,031,937			968,769
Valuation allowance for deferred asset		(1,031,937	)		(968,769	)
Net deferred tax asset		-			-

At December 31, 2018 and September 30, 2018, the Company has net operating loss carryforwards of approximately $3,327,276 and $3,026,479 which will begin to expire in the year 2031. The change in the allowance account from September 30, 2018 to December 31, 2018 was $63,168.

On December 22, 2017 H.R. 1, originally known as the Tax Cuts and Jobs Act, (the “Tax Act”) was enacted. Among the significant changes to the U.S. Internal Revenue Code, the Tax Act lowered the U.S. federal corporate income tax rate (“Federal Tax Rate”) from 35% to 21% effective January 1, 2018. The Company will compute its income tax expense for the December 31, 2017 fiscal year using a Federal Tax Rate of 21%. The remeasurement of the deferred tax assets resulted in a $99,337 reduction in tax assets to $1,031,937 from an estimate of $1,131,274 that the assets would have been using a 35% effective tax rate.

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SUBSEQUENT EVENTS (RESTATED)

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 10 - SUBSEQUENT EVENTS (RESTATED)

On or about October 1, 2018, the Company entered into an Equity Purchase Agreement, by and between the Company and Crown Bridge Partners, LLC (see Note 4 above for a discussion of this Agreement), and on or about November 27, 2018, the Company issued a convertible promissory note with Power Up Lending Group Ltd. (“Power Up”) for the principal sum of $63,000.00 (see Note 5 above for a discussion of this Agreement).

Pursuant to a Board of Directors resolution dated November 8, 2018, the Board of Directors authorized the Company to investigate and negotiate a merger with Newco, two newly formed corporate entities with unrelated businesses. The investigation is continuing and negotiations for a proposed merger have not commenced.

Pursuant to a Board of Directors resolution dated December 13, 2018, the Company was authorized to renew the contract with Peter Papasavas of Papasavas Law Group, LLC to act as outside general counsel to provide legal services for a flat fee of one million shares issued upon an agreed upon date and the payment of a retainer in the amount of $10,000 in January 2019, and an additional nine (9) monthly installments of $5,000.

In November 2018, information came to the attention of Company management that led it to investigate whether one of the Company’s property and mineral leases, its Alaska Mineral Lease, qualified for early adoption of ASU No. 2016-02, resulting in the recognition of a right of use asset and lease liability in accordance with ASC 842, was the absolute best accounting practice or whether the scope exception applied and the lease payments should have been expensed as incurred in accordance with the scope exception of ASC 842. Company management concluded on February 14, 2019 and notified the Board that a portion of its financial statements should no longer be relied upon because of an error in such financial statements. Company management further concluded that the Company could properly early adopt ASC 842, but that we determined the scope exception applied and that it should account for the Alaska Mineral Lease payments as expenses as incurred pursuant to the scope exception of ASC 842. On February 15, 2019, the Company’s independent registered public accounting firm, Fruci & Associates II, PLLC (“Fruci”), concurred with these conclusions and that the financial statements should be amended to reflect this change, including in the financial statements for the quarter ending December 31, 2019. See Note 3.

Management has evaluated subsequent events through the date these financial statements were available to be issued. Based on our evaluation no other material events have occurred that require disclosure.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (RESTATED) (Policies)

3 Months Ended

Dec. 31, 2018

Summary Of Significant Accounting Policies Restated

Fair Value of Financial Instruments

The Company’s financial instruments as defined by ASC 825-10-50, include cash, receivables, accounts payable and accrued expenses. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at September 30, 2018 and December 31, 2018.

The standards under ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. FASB ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:

Level 1. Observable inputs such as quoted prices in active markets;

Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3. Unobservable inputs in which there is little of no market data, which require the reporting entity to develop its own assumptions.

The Company has convertible debt of $5,351 measured at fair value at December 31, 2018.

Going Concern

As shown in the accompanying financial statements, the Company has incurred cumulative operating losses since inception. As of December 31, 2018, the Company has limited financial resources with which to achieve its objectives and attain profitability and positive cash flows from operations. As shown in the accompanying balance sheets and statements of operations, the Company has an accumulated deficit of $3,327,276. The Company’s working capital deficit is $188,240.

Achievement of the Company’s objectives will depend on its ability to obtain additional financing, to generate revenue from current and planned business operations, and to effectively operating and capital costs.

The Company plans to fund its future operations by potential sales of its common stock or by issuing debt securities. However, there is no assurance that the Company will be able to achieve these objectives, therefore substantial doubt about its ability to continue as a going concern exists.

Provision for Taxes

Income taxes are provided based upon the liability method of accounting pursuant to ASC 740-10-25 Income Taxes – Recognition. Under the approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end. A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard imposed by ASC 740-10-25-5 to allow recognition of such an asset. See Note 9.

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RESTATEMENT OF FINANCIAL STATEMENTS (Tables)

3 Months Ended

Dec. 31, 2018

Restatement Of Financial Statements

Condensed financial statements

	Originally			Restatement			As
Consolidated Balance Sheets (Restated)	Reported			Adjustment			Restated
As of December 31, 2017
Investment in mineral lease	$	336,000		$	(336,000	)	$	-
Mineral lease, net	$	176,818		$	(176,818	)	$	-
Accrued lease payments	$	10,000		$	(10,000	)	$	-
Long term mineral lease liability	$	232,318		$	(232,318	)	$	-
Accumulated deficit	$	(2,343,029	)	$	(270,500	)	$	(2,613,529	)
Earnings per share	$	-		$	-		$	-
Consolidated Statements of Operations
For the quarter ended December 31, 2017
Mineral Property Expense	$	10,000			(10,000	)		-
Total operating expenses	$	59,082		$	(10,000	)	$	49,082
Consolidated Statements of Cash Flows
For the quarter ended December 31, 2017
Decrease in accounts payable	$	(2,200	)	$	(8,603	)	$	(10,803	)

	Originally			Restatement			As
Consolidated Balance Sheets (Restated)	Reported			Adjustment			Restated
As of December 31, 2018
Investment in mineral lease	$	336,000		$	(336,000	)	$	-
Mineral lease, net	$	101,498		$	(101,498	)	$	-
Long term mineral lease liability	$	216,817		$	(216,817	)	$	-
Accumulated deficit	$	(3,106,595	)	$	(270,681	)	$	(3,327,276	)
Earnings per share	$	-		$	-		$	-

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MINING CLAIMS AND LAND (RESTATED) (Tables)

3 Months Ended

Dec. 31, 2018

Work expenditure commitments

Work Expenditure Commitments
Due Before	Amount
December 1, 2019	$	150,000
December 1, 2020		250,000
December 1, 2021		500,000
December 1, 2022		1,000,000
December 1, 2023		1,000,000
December 1, 2024		1,000,000
Total	$	3,900,000

Alaska Mineral Lease [Member]

Lease payment obligations

Lease Payment Obligations
Date Due	Amount
April 5, 2016	$	20,000
April 5, 2016		5,000
April 5, 2019		10,000
April 5, 2020		20,000
April 5, 2021		40,000
April 5, 2022		70,000
April 5, 2023		100,000
Total	$	265,000
Paid during year ended September 30, 2017		0
Balance at September 30, 2017	$	240,000
Paid during year ended September 30, 2018		0
Balance at September 30, 2018	$	240,000
Paid during the period ended December 31, 2018		0
Balance at December 31, 2018		240,000

Lewis Mineral Lease [Member]

Lease payment obligations

Lease Payment Obligations
Date Due	Amount
June 18, 2018	$	20,000
December 18, 2018		30,000
December 18, 2019		30,000
December 18, 2020		30,000
December 18, 2021		30,000
December 18, 2022		30,000
December 18, 2023		30,000
Total	$	200,000

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COMMON STOCK (Tables)

3 Months Ended

Dec. 31, 2018

Common Stock Tables Abstract

Summary of warrants outstanding

Warrant Type	Warrants Issued and Unexercised		Exercise Price		Expiration Date
Warrants		1,000,000	$	0.05	December 2021
Warrants		500,000	$	0.10	December 2021
Warrants		220,000	$	0.02	January 2020

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INCOME TAXES (RESTATED) (Tables)

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Summary of the deferred tax assets

	December 31, 2018			September 30, 2018
Net operating loss carryforwards		3,327,276			3,026,479
Deferred tax asset		1,031,937			968,769
Valuation allowance for deferred asset		(1,031,937	)		(968,769	)
Net deferred tax asset		-			-

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ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)	3 Months Ended
	Dec. 31, 2018
Organization And Description Of Business
Date of incorporation	Aug. 04, 1932
State of incorporation	Idaho

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (RESTATED) (Details Narrative) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Summary Of Significant Accounting Policies Restated Details Narrative Abstract
Convertible debt, net	$ 5,351
Accumulated deficit	(3,327,276)	$ (3,026,479)
Working capital deficit	$ (188,240)

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RESTATEMENT OF FINANCIAL STATEMENTS (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Accumulated deficit	$ (3,327,276)		$ (3,026,479)
Originally Reported [Member]
Investment in mineral lease	336,000	$ 336,000
Mineral lease, net	101,498	176,818
Accrued lease payments		10,000
Long term mineral lease liability	216,817	232,318
Accumulated deficit	$ (3,106,595)	$ (2,343,029)
Earnings per share
Restatement Adjustment [Member]
Investment in mineral lease	$ (336,000)	$ (336,000)
Mineral lease, net	(101,498)	(176,818)
Accrued lease payments		(10,000)
Long term mineral lease liability	(216,817)	(232,318)
Accumulated deficit	$ (270,681)	$ (270,500)
Earnings per share
Restated [Member]
Investment in mineral lease
Mineral lease, net
Accrued lease payments
Long term mineral lease liability
Accumulated deficit	$ (3,327,276)	$ (2,613,529)
Earnings per share

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RESTATEMENT OF FINANCIAL STATEMENTS (Details 1) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Mineral Property Expense	$ 27,301
Originally Reported [Member]
Mineral Property Expense		10,000
Total operating expenses		59,082
Restatement Adjustment [Member]
Mineral Property Expense		(10,000)
Total operating expenses		(10,000)
Restated [Member]
Mineral Property Expense
Total operating expenses		$ 49,082

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RESTATEMENT OF FINANCIAL STATEMENTS (Details 2) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Decrease in accounts payable	$ (4,339)	$ (10,803)
Originally Reported [Member]
Decrease in accounts payable		(2,200)
Restatement Adjustment [Member]
Decrease in accounts payable		(8,603)
Restated [Member]
Decrease in accounts payable		$ (10,803)

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MINING CLAIMS AND LAND (RESTATED) (Details)	3 Months Ended
	Dec. 31, 2018 USD ($)
Work Expenditure Commitments	$ 3,900,000
December 1, 2019 [Member]
Work Expenditure Commitments	150,000
December 1, 2020 [Member]
Work Expenditure Commitments	250,000
December 1, 2021 [Member]
Work Expenditure Commitments	500,000
December 1, 2022 [Member]
Work Expenditure Commitments	1,000,000
December 1, 2023 [Member]
Work Expenditure Commitments	1,000,000
December 1, 2024 [Member]
Work Expenditure Commitments	$ 1,000,000

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MINING CLAIMS AND LAND (RESTATED) (Details 1)	3 Months Ended
	Dec. 31, 2018 USD ($)
Lease Payment Obligations	$ 7,500
Alaska Mineral Lease [Member]
Lease Payment Obligations	265,000
Paid during year ended September 30, 2017	0
Balance at September 30, 2017	240,000
Paid during year ended September 30, 2018	0
Balance at September 30, 2018	240,000
Paid during the period ended December 31, 2018	0
Balance at December 31, 2018	240,000
Alaska Mineral Lease [Member] | April 5, 2016 [Member]
Lease Payment Obligations	$ 20,000
Lease payment obligations, due date	Apr. 05, 2016
Alaska Mineral Lease [Member] | April 5, 2016 [Member]
Lease Payment Obligations	$ 5,000
Lease payment obligations, due date	Apr. 05, 2016
Alaska Mineral Lease [Member] | April 5, 2019 [Member]
Lease Payment Obligations	$ 10,000
Lease payment obligations, due date	Apr. 05, 2019
Alaska Mineral Lease [Member] | April 5, 2020 [Member]
Lease Payment Obligations	$ 20,000
Lease payment obligations, due date	Apr. 05, 2020
Alaska Mineral Lease [Member] | April 5, 2021 [Member]
Lease Payment Obligations	$ 40,000
Lease payment obligations, due date	Apr. 05, 2021
Alaska Mineral Lease [Member] | April 5, 2022 [Member]
Lease Payment Obligations	$ 70,000
Lease payment obligations, due date	Apr. 05, 2022
Alaska Mineral Lease [Member] | April 5, 2023 [Member]
Lease Payment Obligations	$ 100,000
Lease payment obligations, due date	Apr. 05, 2023

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MINING CLAIMS AND LAND (RESTATED) (Details 2)	3 Months Ended
	Dec. 31, 2018 USD ($)
Lease Payment Obligations	$ 7,500
Lewis Mineral Lease [Member]
Lease Payment Obligations	200,000
Lewis Mineral Lease [Member] | June 18, 2018 [Member]
Lease Payment Obligations	$ 20,000
Lease payment obligations, due date	Jun. 18, 2018
Lewis Mineral Lease [Member] | December 18, 2018 [Member]
Lease Payment Obligations	$ 30,000
Lease payment obligations, due date	Dec. 18, 2018
Lewis Mineral Lease [Member] | December 18, 2019 [Member]
Lease Payment Obligations	$ 30,000
Lease payment obligations, due date	Dec. 18, 2019
Lewis Mineral Lease [Member] | December 18, 2020 [Member]
Lease Payment Obligations	$ 30,000
Lease payment obligations, due date	Dec. 18, 2020
Lewis Mineral Lease [Member] | December 18, 2021 [Member]
Lease Payment Obligations	$ 30,000
Lease payment obligations, due date	Dec. 18, 2021
Lewis Mineral Lease [Member] | December 18, 2022 [Member]
Lease Payment Obligations	$ 30,000
Lease payment obligations, due date	Dec. 18, 2022
Lewis Mineral Lease [Member] | December 18, 2023 [Member]
Lease Payment Obligations	$ 30,000
Lease payment obligations, due date	Dec. 18, 2023

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MINING CLAIMS AND LAND (RESTATED) (Details Narrative) - USD ($)		3 Months Ended
	Apr. 05, 2016	Dec. 31, 2018
Lease payments		$ 7,500
Advance royalty payments		2,500
Lease payment obligations indefinitely deferred		$ 35,000
Description for change in payment schedule of lease payments		The parties to the lease amended the payment schedule to indefinitely defer $35,000 in lease payments from the June 18, 2018 and December 18, 2018 payment periods
Alaska Mineral Lease [Member]
Additional consideration shares of common stock, shares		11,200,000
Additional consideration shares of common stock, value		$ 336,000
Option to purchase description		the ninth anniversary of the effective date of the agreement which would be April 5, 2025 by remitting $5,000,000.
Lease payments		$ 265,000
Lewis Mineral Lease [Member]
Option to purchase description		the seventh anniversary of the effective date of the agreement which would be December 18, 2024 by remitting $1,000,000.
Lease payments		$ 200,000
Helen G Mineral Lease [Member]
Lease agreement description		Under the agreement a royalty shall be paid as follows: · If the monthly average per troy ounce of gold is over $1,500 the royalty shall be 3.5% of net smelter returns. · If the monthly average per troy ounce of gold is greater than $1,400 but less than $1,500, the royalty shall be 3.0% of net smelter returns. · If the monthly average per troy ounce of gold is greater than $1,300 but less than $1,400, the royalty shall be 2.5% of net smelter returns. · If the monthly average per troy ounce of gold is $1,300 or less the royalty shall be 2.0% of net smelter returns.
Warrants [Member] | Lewis Mineral Lease [Member]
Additional consideration shares of common stock, shares		500,000
Lease Agreement [Member] | Option [Member]
Lease agreement description	Company signed a Lease Agreement with Option to Purchase thirty contiguous mining claims known as the Caribou Mining Claims consisting of 4,800 acres in the State of Alaska. The agreement consists of two parts, an Option to Purchase and until such time as the Option to Purchase is exercised, the Agreement is considered a lease. This was a related party transaction.

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EQUITY PURCHASE AGREEMENT (Details Narrative) - Subsequent Event [Member] - Equity Purchase Agreement [Member] - Crown Bridge Partners, LLC [Member] - October 1, 2018 [Member]	Dec. 31, 2018 USD ($) $ / shares shares
Common stock, par value | $ / shares	$ 0.001
Put shares reserved for future issuance	8,000,000
Common stock shares reserved for future issuance	1,428,571
Maximum [Member]
Proceeds receivable from issuance of common stock under agreement | $	$ 5,000,000

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CONVERTIBLE DEBT (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Nov. 27, 2018	Dec. 31, 2018	Dec. 31, 2017
Loss on issuance of convertible debt		$ (71,158)
Convertible promissory note [Member] | Power Up Lending Group Ltd. [Member]
Convertible Debt	$ 63,000
Maturity date	Nov. 27, 2019
Unpaid principal balance, interest rate	12.00%
Terms of conversion feature	Power Up has the right at any time during the period beginning 180 days following the date of the Note to convert all or any part of the outstanding and unpaid principal amount of the Note into fully paid and non-assessable shares of Common Stock
Conversion Price description	The conversion price shall be equal to the Variable Conversion Price, which is 58% multiplied by the Market Price (representing a discount rate of 42%), in which Market Price is the average of the lowest two (2) Trading Prices for the Company's Common Stock during the preceding 15 trading day period prior to the Conversion Date
Payment of fee recorded as debt discount	$ 3,000
Derivative liability, intrinsic value	$ 0.1770
Derivative liability	$ 131,158
Loss on issuance of convertible debt	$ (71,158)

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COMMON STOCK (Details) - Warrants [Member]	3 Months Ended
	Dec. 31, 2018 $ / shares shares
December 2021 [Member]
Warrants Issued and Unexercised | shares	1,000,000
Exercise Price | $ / shares	$ 0.05
Expiration Date	Dec. 31, 2021
December 2021 [Member]
Warrants Issued and Unexercised | shares	500,000
Exercise Price | $ / shares	$ 0.10
Expiration Date	Dec. 31, 2021
January 2020 [Member]
Warrants Issued and Unexercised | shares	220,000
Exercise Price | $ / shares	$ 0.02
Expiration Date	Jan. 31, 2020

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COMMON STOCK (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Capital stock, shares authorized	2,000,000
Capital stock value	$ 0.05
Increased the authorized capital shares of common stock description	In 1953 the Company increased the authorized capital to 3,000,000 shares of common stock, in 1985 the authorized capital was again increased to 10,000,000 shares of common stock, and in 2014 the Company increased the authorized capital to 100,000,000 shares of common stock with a par value of $.001
Common stock, par value	$ 0.001		$ 0.001	$ 0.001
Preferred stock, par value	$ 0.10		$ 0.10	$ 0.10
Preferred stock, authorized	10,000,000		10,000,000	10,000,000
Common stock issued for services, shares				30,000		4,300,000
Common stock issued for services, amount	$ 50,000		$ 45,500	$ 45,500	$ 40,000	$ 40,000
Treasury stock, common, shares	4,300,000
Strike price per share			$ 0.02	$ 0.02
Risk free interest rate				1.99%
Expected life				2 years
Expected volatility				495.28%
Common stock issued for cash, shares	2,650,000			5,760,000
Common stock issued for cash, amount	$ 119,000	131,501	$ 279,100	$ 224,100	$ 13,333
Common stock unissued for cash, shares				1,275,000
Common stock unissued for cash, amount				$ 55,000
Common stock issued for reimbursement of mineral claims, shares				500,000
Additional warrants issued to directors fees shares	110,000		280,000	280,000
Additional warrants issued to directors fees amount	$ 22,000
Warrants term			2 years	2 years
Warrants issued for directors fees, exercise price				$ 0.02
Fair value of warrants				$ 39,194
Option issued			60,000	60,000
Options exercise price				$ 0.02
Option value			$ 1,200	$ 1,200
Common stock shares issued for compensation, shares	4,000,000
Common stock shares issued for compensation, value	$ 80,000
Hahn M. Nguyen [Member]
Common stock issued for services, shares						1,000,000
M6 [Member]
Common stock issued for services, shares						2,000,000
Maximum Harvest LLC [Member]
Common stock issued for services, shares						1,300,000
Common Stock
Common stock issued for services, shares	200,000		300,000		2,000,000
Common stock issued for services, amount	$ 200		$ 300		$ 2,000
Common stock issued for cash, amount	$ 3,925	$ 3,700	$ 2,060		$ 3,000
Common stock issued for reimbursement of mineral claims, shares			500,000

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RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2016	Sep. 30, 2018	Sep. 30, 2017
Payment of consulting fees	$ 10,000	$ 4,500
Premium Exploration Mining [Member]
Note payable	57,127			$ 55,342
Premium Exploration Mining [Member] | Notes Payable [Member]
Note payable					$ 35,000
Interest rate					5.00%
Premium Exploration Mining [Member] | Notes Payable Two [Member]
Note payable					$ 15,000
Interest rate					5.00%
Related Party [Member]
Note payable	$ 9,967		$ 15,000	$ 9,660
Repayment of related party debt			5,000
Debt conversion converted amount			$ 3,000
Debt conversion converted instrument, shares issued			300,000
Interest rate description			Note bears interest at a rate of 10% beginning on July 24, 2016 and, in the event of demand for payment, a default interest rate of 15% applies.

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INCOME TAXES (RESTATED) (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Income Taxes Restated
Net operating loss carryforwards	$ 3,327,276	$ 3,026,479
Deferred tax asset	1,031,937	968,769
Valuation allowance for deferred asset	(1,031,937)	(968,769)
Net deferred tax asset

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INCOME TAXES (RESTATED) (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 22, 2017	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Income Taxes Restated Details Narrative Abstract
Net operating loss carryforwards		$ 3,327,276		$ 3,026,479
Net operating loss carryforward expiration date		2031
Change in valuation allowance, amount		$ 63,168	$ 97,300
U.S. federal corporate income tax rate description	Among the significant changes to the U.S. Internal Revenue Code, the Tax Act lowered the U.S. federal corporate income tax rate (“Federal Tax Rate”) from 35% to 21% effective January 1, 2018.
U.S. federal statutory rate			21.00%
Description of reduction in deferred tax assets		Remeasurement of the deferred tax assets resulted in a $99,337 reduction in tax assets to $1,031,937 from an estimate of $1,131,274 that the assets would have been using a 35% effective tax rate.
Effective tax rate		35.00%

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SUBSEQUENT EVENTS (RESTATED) (Details Narrative) - Subsequent Event [Member]	3 Months Ended
	Dec. 31, 2018 USD ($)
October 1, 2018 [Member] | Equity Purchase Agreement [Member]
Convertible promissory note	$ 63,000
Papasavas Law Group, LLC [Member] | December 13, 2018 [Member]
Description of payment for legal services fee	One million shares issued upon an agreed upon date and the payment of a retainer in the amount of $10,000 in January 2019, and an additional nine (9) monthly installments of $5,000.