INVESTMENTS IN SECURITIES	6 Months Ended
Jun. 30, 2012
Equity Method Investments and Joint Ventures [Abstract]
Cost and Equity Method Investments Disclosure [Text Block]	NOTE 4—INVESTMENTS IN SECURITIES On March 26, 2010, the Company acquired 4,950,000 shares of common stock ofShamika2 Gold with an investment value of $1,237,500. Securities to be held for indefinite periods of time, but not necessarily to be held to maturity or on a long-term basis, are classified as available for sale and carried at fair value with unrealized gains or losses reported as a separate component of shareholders' deficit in accumulated other comprehensive (loss) income in the condensed consolidated balance sheets. As of December 31, 2010, the Company held 4,905,000Shamika2 Gold shares and recorded a fair value of $3,188,250 as investments available for sale with $1,962,000 recorded as an unrealized gain in accumulated other comprehensive income. As of June 30, 2011, the Company held 4,792,836 shares with a fair value recorded of $1,150,281 and a $71,675 unrealized loss in its investment recorded in accumulated other comprehensive loss. Other comprehensive loss recorded during three month period ended June 30, 2011 due to a decrease in the fair market value ofShamika2 Gold’s shares was $2,033,675. Through June 30, 2011, based on management’s intent of holding the majority of the shares inShamika2 Gold equity security, the investment was classified as a short term investment in available for sale securities. During third quarter 2011, due to difficulties experienced in raising capital to fund operations and due to capital needed to pursue and develop current projects, along with the fact that theShamika2 Gold shares had continued to decrease in fair value over the period that the Company has held the shares, management made the decision to liquidate the majority of its investment inShamika2 Gold. 3,437,836 shares were liquidated during third quarter 2011 which resulted in cash proceeds of $147,508. In addition, during third quarter 2011, 600,000 shares ofShamika2 Gold were transferred to certainnoteholdersfor consideration to extend thesenoteholdersforbearance rights to covert notes into shares of common stock. This disposition and transfer of shares resulted in a realized loss on the previously classified available for sale securities of $884,697 and as of December 31, 2011, all amounts previously recorded through accumulated other comprehensive income were realized ($1,962,000). During the third quarter of 2011, resulting from purchases made previously under subscription agreements, the Company also received 666,672 shares ofShamika2 Gold and recorded the fair value of the investment of $9,333 as an investment in trading securities For the year ended December 31, 2011, the Company recorded $200,000 as an unrealized loss on trading securities in its consolidated statements of operations for the remainingShamika2 Gold shares held. There was no material change in fair value of theShamika2 Gold common stock from December 31, 2011 to June 30, 2012 and therefore no additional accounting entries have been recorded for the three month period ending June 30, 2012 related to this investment. The common stock ofShamika2 Gold is quoted on the Over-the-Counter Bulletin Board under the symbol “SHMX” and is, therefore, considered a Level 1investment in the fair value hierarchy.

INVESTMENTS IN SECURITIES

6 Months Ended

Jun. 30, 2012

Equity Method Investments and Joint Ventures [Abstract]

Cost and Equity Method Investments Disclosure [Text Block]

NOTE 4—INVESTMENTS IN SECURITIES

On March 26, 2010, the Company acquired 4,950,000 shares of common stock ofShamika2 Gold with an investment value of $1,237,500. Securities to be held for indefinite periods of time, but not necessarily to be held to maturity or on a long-term basis, are classified as available for sale and carried at fair value with unrealized gains or losses reported as a separate component of shareholders' deficit in accumulated other comprehensive (loss) income in the condensed consolidated balance sheets. As of December 31, 2010, the Company held 4,905,000Shamika2 Gold shares and recorded a fair value of $3,188,250 as investments available for sale with $1,962,000 recorded as an unrealized gain in accumulated other comprehensive income. As of June 30, 2011, the Company held 4,792,836 shares with a fair value recorded of $1,150,281 and a $71,675 unrealized loss in its investment recorded in accumulated other comprehensive loss. Other comprehensive loss recorded during three month period ended June 30, 2011 due to a decrease in the fair market value ofShamika2 Gold’s shares was $2,033,675. Through June 30, 2011, based on management’s intent of holding the majority of the shares inShamika2 Gold equity security, the investment was classified as a short term investment in available for sale securities. During third quarter 2011, due to difficulties experienced in raising capital to fund operations and due to capital needed to pursue and develop current projects, along with the fact that theShamika2 Gold shares had continued to decrease in fair value over the period that the Company has held the shares, management made the decision to liquidate the majority of its investment inShamika2 Gold. 3,437,836 shares were liquidated during third quarter 2011 which resulted in cash proceeds of $147,508. In addition, during third quarter 2011, 600,000 shares ofShamika2 Gold were transferred to certainnoteholdersfor consideration to extend thesenoteholdersforbearance rights to covert notes into shares of common stock. This disposition and transfer of shares resulted in a realized loss on the previously classified available for sale securities of $884,697 and as of December 31, 2011, all amounts previously recorded through accumulated other comprehensive income were realized ($1,962,000). During the third quarter of 2011, resulting from purchases made previously under subscription agreements, the Company also received 666,672 shares ofShamika2 Gold and recorded the fair value of the investment of $9,333 as an investment in trading securities

For the year ended December 31, 2011, the Company recorded $200,000 as an unrealized loss on trading securities in its consolidated statements of operations for the remainingShamika2 Gold shares held. There was no material change in fair value of theShamika2 Gold common stock from December 31, 2011 to June 30, 2012 and therefore no additional accounting entries have been recorded for the three month period ending June 30, 2012 related to this investment. The common stock ofShamika2 Gold is quoted on the Over-the-Counter Bulletin Board under the symbol “SHMX” and is, therefore, considered a Level 1investment in the fair value hierarchy.