|
Statement of Cash Flows (USD $)
|
12 Months Ended |
|
Mar. 31, 2012
|
Mar. 31, 2011
|
| Operating Activities: |
|
|
| Net loss |
$ (10,789,284) |
$ (3,972,336) |
| Adjustments to reconcile net loss to net cash used by operating activities: |
|
|
| Depreciation and amortization |
2,994,936 |
1,304,939 |
| Gain on operations of subsidiary |
0 |
(288,612) |
| Foreign exchange transaction (gain) loss |
(2) |
4,922 |
| Loss on sale of equity investment |
0 |
4,964 |
| Loss on disposal of water rights |
548,701 |
0 |
| Loss on remove of costs incurred on test wells |
260,641 |
0 |
| Loss on disposal of equipment |
67 |
0 |
| Stock based compensation |
1,454,376 |
1,066,565 |
| Net changes in: |
|
|
| Accounts receivable |
789,992 |
(302,298) |
| Accounts payable and accrued liabilities |
29,697 |
(15,436) |
| Prepaid expenses & other |
(633,490) |
(11,289) |
| Total cash used by operating activities |
(5,344,366) |
(2,208,581) |
| Investing Activities: |
|
|
| Purchases of property, plant and equipment |
(26,778,527) |
(13,070,992) |
| Cash restricted by regulating entities |
(2,275,000) |
(60,000) |
| Cash paid on deposit of mineral rights purchase |
0 |
(200,000) |
| Initial conversion from consolidation of subsidiary |
592,330 |
0 |
| Distributions received from subsidiary |
0 |
418,236 |
| Proceeds from sale of equipment |
100 |
0 |
| Total cash used by investing activities |
(28,461,097) |
(12,912,756) |
| Financing Activities: |
|
|
| Issuance of share capital, net of share issue costs |
209,424 |
5,260,467 |
| Proceeds received from non-controlling interest |
20,661,475 |
1,000 |
| Distributions to non-controlling interest |
(113,365) |
0 |
| Proceeds from issuance of convertible debt |
2,125,000 |
5,000,000 |
| Proceeds from bridge loan |
7,500,000 |
0 |
| Principal payment on promissory note |
(230,000) |
0 |
| Principal payments on capital lease |
(12,925) |
(11,837) |
| Total cash provided by financing activities |
30,139,609 |
10,249,630 |
| Decrease in Cash and Cash Equivalents |
(3,665,854) |
(4,871,707) |
| Cash and Cash Equivalents, Beginning of Period |
8,098,905 |
12,970,612 |
| Cash and Cash Equivalents, End of Period |
4,433,051 |
8,098,905 |
| Supplemental Disclosures: |
|
|
| Purchase of property and equipment on account |
28,664,837 |
509,650 |
| Construction and development paid directly with construction loans |
52,423,700 |
11,433,435 |
| Debt converted to non-controlling interest |
5,132,740 |
0 |
| Capitalized accrued interest |
1,871,422 |
351,166 |
| Net assets and liabilities received from consolidation of subsidiary |
45,386,103 |
0 |
| Other Items: |
|
|
| Interest paid |
$ 5,547 |
$ 9,955 |