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Share Name | Share Symbol | Market | Type |
---|---|---|---|
LKA Gold Incorporated (CE) | USOTC:LKAI | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0001 | 0.00 | 01:00:00 |
Delaware
|
91-1428250
|
(State or other jurisdiction of
|
(I.R.S. Employer Identification No.)
|
incorporation or organization)
|
|
June 30, 2016
|
December 31, 2015
|
|||||||
CURRENT ASSETS
|
||||||||
Cash
|
$
|
72,126
|
$
|
150,068
|
||||
Restricted cash
|
18,750
|
22,500
|
||||||
Prepaid expenses
|
4,375
|
-
|
||||||
Accounts receivable
|
995
|
995
|
||||||
Total Current Assets
|
96,246
|
173,563
|
||||||
FIXED ASSETS
|
||||||||
Land, equipment and mining claims
|
849,140
|
849,140
|
||||||
Accumulated deprecation
|
(372,700
|
) |
(359,175
|
)
|
||||
Total Fixed Assets, Net of Accumulated Depreciation
|
476,440
|
489,965
|
||||||
OTHER NON-CURRENT ASSETS
|
||||||||
Reclamation bonds
|
100,042
|
123,597
|
||||||
Total Non-Current Assets
|
100,042
|
123,597
|
||||||
TOTAL ASSETS
|
$
|
672,728
|
$
|
787,125
|
||||
June 30, 2016
|
December 31, 2015
|
|||||||
CURRENT LIABILITIES
|
||||||||
Accounts payable
|
$
|
55,720
|
$
|
69,042
|
||||
Accounts payable – related party
|
24,000
|
15,309
|
||||||
Wastewater discharge liability
|
75,000
|
75,000
|
||||||
Derivative liability
|
523,750
|
256,278
|
||||||
Note payable
|
10,000
|
10,000
|
||||||
Accrued interest payable
|
7,280
|
5,517
|
||||||
Accrued wages and advances payable to officer
|
100,757
|
75,757
|
||||||
Total Current Liabilities
|
796,507
|
506,903
|
||||||
LONG-TERM LIABILITIES
|
||||||||
Convertible notes payable – related party, net of $237,930 and $240,465 in debt issuance costs and debt discount, respectively
|
12,070
|
9,535
|
||||||
Convertible notes payable, net of $144,937 and $49,051 in debt issuance
costs and debt discount, respectively
|
5,063
|
949
|
||||||
Asset retirement obligation
|
120,355
|
117,761
|
||||||
Total Long-Term Liabilities
|
137,488
|
128,245
|
||||||
Total Liabilities
|
933,995
|
635,148
|
||||||
STOCKHOLDERS' EQUITY (DEFICIT)
|
||||||||
Preferred stock; $0.001 par value, 50,000,000 shares authorized, 0 and 0 shares issued and outstanding, respectively
|
-
|
-
|
||||||
Common stock, $0.001 par value, 50,000,000 shares authorized,
19,165,152 and 19,165,152 shares issued and 19,121,528 and 19,121,528 shares outstanding, respectively
|
19,165
|
19,165
|
||||||
Additional paid-in capital
|
17,963,315
|
17,963,315
|
||||||
Treasury stock; 43,624 and 43,624 shares at cost, respectively
|
(86,692
|
)
|
(86,692
|
)
|
||||
Accumulated deficit
|
(18,157,055
|
)
|
(17,743,811
|
)
|
||||
Total Stockholders' Equity (Deficit)
|
(261,267
|
)
|
151,977
|
|||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
|
$
|
672,728
|
$
|
787,125
|
For the Three Months Ended
June 30,
|
For the Six Months Ended
June 30,
|
|||||||||||||||
2016
|
2015
|
2016
|
2015
|
|||||||||||||
REVENUES
|
||||||||||||||||
Sales - precious metals
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
115,985
|
||||||||
EXPLORATION COSTS
|
(11,143
|
)
|
(257,932
|
)
|
(36,969
|
)
|
(581,798
|
)
|
||||||||
GROSS LOSS
|
(11,143
|
)
|
(257,932
|
)
|
(36,969
|
)
|
(465,813
|
)
|
||||||||
OPERATING EXPENSES
|
||||||||||||||||
General and administrative
|
39,688
|
39,685
|
69,379
|
78,594
|
||||||||||||
Officer salaries
|
37,500
|
37,500
|
75,000
|
75,000
|
||||||||||||
Professional and consulting
|
10,090
|
26,197
|
34,068
|
48,926
|
||||||||||||
Total Operating Expenses
|
87,278
|
103,382
|
178,447
|
202,520
|
||||||||||||
OPERATING LOSS
|
(98,421
|
)
|
(361,314
|
)
|
(215,416
|
)
|
(668,333
|
)
|
||||||||
OTHER EXPENSES
|
||||||||||||||||
Loss on derivatives
|
112,297
|
-
|
168,103
|
-
|
||||||||||||
Interest expense, net
|
22,105
|
317
|
29,725
|
786
|
||||||||||||
Total Other Expenses
|
134,402
|
317
|
197,828
|
786
|
||||||||||||
NET LOSS
|
$
|
(232,823
|
)
|
$
|
(361,631
|
)
|
$
|
(413,244
|
)
|
$
|
(669,119
|
)
|
||||
BASIC NET LOSS PER SHARE
|
$
|
(0.01
|
)
|
$
|
(0.02
|
)
|
$
|
(0.02
|
)
|
$
|
(0.03
|
)
|
||||
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
|
19,121,528
|
19,121,528
|
19,121,528
|
19,121,528
|
Balance, December 31, 2014
|
$
|
-
|
||
Day one loss due to convertible debt
|
58,006
|
|||
Debt discount
|
300,000
|
|||
Gains on change in fair value
|
(101,728
|
)
|
||
Balance, December 31, 2015
|
256,278
|
|||
Day one loss due to convertible debt
|
33,781
|
|||
Debt discount
|
99,369
|
|||
Loss on change in fair value
|
134,322
|
|||
Balance, June 30, 2016
|
$
|
523,750
|
3.1
|
Certificate of Incorporation**
|
3.2
|
Bylaws**
|
31.1
31.2
32
|
Certification of Kye Abraham Pursuant to Section 302 of the Sarbanes-Oxley Act.
Certification of Nanette Abraham Pursuant to Section 302 of the Sarbanes-Oxley Act.
Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
101.INS
|
XBRL Instance Document*
|
101.PRE.
|
XBRL Taxonomy Extension Presentation Linkbase*
|
101.LAB
|
XBRL Taxonomy Extension Label Linkbase*
|
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase*
|
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase*
|
101.SCH
|
XBRL Taxonomy Extension Schema*
|
Date:
|
August 15, 2016
|
By:
|
/s/Kye Abraham
|
|
Kye Abraham, CEO, President, Chairman of the Board and Director
|
||||
Date:
|
August 15, 2016
|
By:
|
/s/Nanette Abraham
|
|
Nanette Abraham, CFO, Secretary, Treasurer and Director
|
1 Year LKA Gold (CE) Chart |
1 Month LKA Gold (CE) Chart |
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