|
Statements of Cash Flows (Unaudited) (USD $)
|
6 Months Ended |
18 Months Ended |
|
Aug. 31, 2012
|
Aug. 31, 2011
|
Aug. 31, 2012
|
| Cash flows from operating activities |
|
|
|
| Net loss |
$ (833,012) |
$ (1,585,803) |
$ (50,534,822) |
| Adjustments to reconcile net (loss) to net cash flows: |
|
|
|
| Write off of note receivable |
|
|
57,500 |
| Impairment of mineral property costs |
|
150,000 |
14,421,668 |
| Issuance of shares for consulting services |
|
|
510,590 |
| Issuance of shares for interest costs |
|
|
82,500 |
| Discount on convertible debenture |
|
|
569,549 |
| Deposit on equipment written off |
|
|
25,300 |
| Gain on disposal of assets |
|
|
(15,130) |
| Gain on sale of assets |
31,691 |
|
(4,358,263) |
| Non-cash component of gain on settlement of debt |
208,736 |
(224,665) |
(786,907) |
| Beneficial conversion feature |
|
|
4,081,091 |
| Stock-based compensation |
348,000 |
725,725 |
12,588,436 |
| Amortization |
8,960 |
23,013 |
355,263 |
| Net change in operating assets and liabilities: |
|
|
|
| Prepaid expense |
46,229 |
61,507 |
(5,399) |
| Accounts receivable |
(933,270) |
(149,809) |
(918,713) |
| Inventory |
64,202 |
|
|
| Customer deposits |
|
|
(194,809) |
| Notes payable |
|
|
109,337 |
| Accounts payable and accrued liabilities |
80,037 |
10,577 |
7,327,113 |
| Cash used in operating activities |
(978,427) |
(989,455) |
(16,685,696) |
| Sale of equipment |
49,650 |
|
82,966 |
| Purchase of property and equipment |
(584) |
|
(604,201) |
| Cash provided (used) in investing activities |
49,066 |
|
(521,235) |
| Financing activities |
|
|
|
| Proceeds from loans payable |
|
|
316,617 |
| Proceeds from notes payable |
|
|
3,162,196 |
| Proceeds from convertible debentures |
|
|
7,462,500 |
| Proceeds from exercise of options |
|
|
78,000 |
| Proceeds from exercise of warrants |
|
|
3,144,377 |
| Repayment of loans payable |
(12,887) |
(12,876) |
(309,736) |
| Repayment of notes payable |
|
|
(586,620) |
| Repayment of convertible debentures |
|
|
(2,051,047) |
| Stock subscriptions |
1,008,600 |
670,904 |
3,326,862 |
| Issuance of common stock |
|
|
2,756,994 |
| Cash provided (used) by financing activities |
995,713 |
658,028 |
17,300,143 |
| Net change in cash |
66,352 |
(331,427) |
93,212 |
| Effect of foreign currency translation on cash |
(20,659) |
(132) |
48,296 |
| Cash and cash equivalents, beginning |
117,892 |
407,912 |
22,077 |
| Cash and cash equivalents, ending |
$ 163,585 |
$ 76,353 |
$ 163,585 |