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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Mexus Gold US (CE) | USOTC:MXSG | 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 |
[
X
]
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
[ ]
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Nevada
|
20-4092640
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification No.)
|
1805 N. Carson Street, Suite 150
Carson City, NV 89701
________________________________________________________________________
(Address of principal executive offices, including zip code)
|
Large accelerated filer [ ]
|
Accelerated filer [ ]
|
|
Non-accelerated filer [ ]
(Do not check if smaller reporting company)
|
Smaller reporting company [
X
]
|
Risks Relating to Our Common Stock
|
High
$
|
Low
$
|
|
For the Fiscal Year Ended March 31, 2013
|
||
Fourth Quarter ended March 31, 2013
|
0.37
|
0.20
|
Third Quarter ended December 31, 2012
|
0.57
|
0.24
|
Second Quarter ended September 30, 2012
|
0.47
|
0.09
|
First Quarter ended June 30, 2012
|
0.09
|
0.07
|
For the Fiscal Year Ended March 31, 2012
|
||
Fourth Quarter ended March 31, 2012
|
0.10
|
0.06
|
Third Quarter ended December 31, 2011
|
0.15
|
0.05
|
Second Quarter ended September 30, 2011
|
0.21
|
0.14
|
First Quarter ended June 30, 2011
|
0.25
|
0.17
|
●
|
pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets;
|
|
●
|
provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and
|
|
●
|
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of our assets that could have a material effect on the financial statements.
|
Item 10.
|
Directors, Executive Officers and Corporate Governance.
|
NAME
|
AGE
|
POSITION
|
||
Paul D. Thompson
|
72
|
President
Chief Executive Officer
Chief Financial Officer
Principle Accounting Officer
Secretary
Director
|
Summary Compensation Table
|
||||||||||||||||
Non-Equity
|
Nonqualified
|
All
|
||||||||||||||
Name and
|
Incentive
|
Deferred
|
Other
|
|||||||||||||
Principal
|
Stock
|
Option
|
Plan
|
Compensation
|
Compen
|
|||||||||||
Position
|
Year
|
Salary
|
Bonus
|
Awards
|
Awards
|
Compensation
|
Earnings
|
-sation
|
Total
|
|||||||
Paul D.Thompson
|
2013
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||
President, Chief Executive Officer, Chief Financial Officer, Secretary, and Director
|
2012
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||
·
|
each person who is known to be the beneficial owner of more than five percent (5%) of our issued and outstanding shares of common stock;
|
·
|
each of our directors and executive officers; and
|
·
|
All of our Directors and Officers as a group
|
Name And Address
|
Number Of Shares
Beneficially Owned
|
Percentage
Owned
|
Paul D. Thompson
(1)
|
75,590,809
(2)(3)
|
34%
|
All Officers and Directors as Group
|
75,590,809
|
34%
|
Total
|
75,590,809
|
34%
|
|
(1)
|
1805 N. Carson Street, Suite 150, Carson City, NV 89701.
|
|
(2)
|
Includes 26,044,119 shares held by Mr. Thompson individually, 45,500,000 shares held by Taurus Gold, Inc., 182,918 shares held by Mexus Gold Mining S.A. C.V. and 113,772 shares held by Mexus Gold International.
|
|
(3)
|
In addition, Mr. Thompson owns 375,000 shares of out Series A Convertible Preferred Stock, $.001 par value. Each share of our Series A Convertible Preferred Stock converts into 10 shares of our common stock. Assuming Mr. Thomson converted 100% of the Series A Convertible Preferred Stock held by him, he would hold and additional 3,750,000 shares of common stock and a total of 75,590,809 shares of commons stock or 35% of our issued and outstanding shares of common stock.
|
|
(4)
|
Holders of our Series A Convertible Preferred Stock have such number of votes as is determined by multiplying: (a) the number of shares of Series A Convertible Preferred Stock held by such holder, (b) the number of issued and outstanding shares of the Corporation’s Series A Convertible Preferred Stock and common stock on a fully-diluted basis; and (c) 0.000006. Accordingly, on any stockholders vote, Mr. Thompson has a total of 568,774,961 votes, or greater than 260% of the issued and outstanding common stock of the company.
|
MEXUS GOLD US
/s/
Paul D. Thompson
By: Paul D. Thompson
Its: President
Principle Accounting Officer
|
Signatures
|
Title
|
Date
|
||
/s/ Paul D. Thompson
Paul D. Thompson
|
Chief Executive Officer
Chief Financial Officer
Principal Accounting Officer
President
Secretary
Director
|
July 13, 2013
|
MEXUS GOLD US
|
(An Exploration Stage Company)
|
CONSOLIDATED BALANCE SHEETS
|
(Audited)
|
MEXUS GOLD US
|
(An Exploration Stage Company)
|
CONSOLIDATED STATEMENTS OF OPERATIONS
|
(Audited)
|
For the Period from
|
||||
Exploration Stage re-entry
|
||||
Year Ended
|
Year Ended
|
(September 18, 2009) to
|
||
March 31, 2013
|
March 31, 2012
|
March 31, 2013
|
||
REVENUES
|
||||
Revenues
|
$ 1,158,742
|
$ 239,911
|
$ 1,419,653
|
|
Total revenues
|
1,158,742
|
239,911
|
1,419,653
|
|
Expenses
|
||||
General and administrative
|
898,768
|
705,080
|
2,767,763
|
|
Bad debt expense - related party
|
240,673
|
-
|
240,673
|
|
Exploration costs
|
3,281,234
|
561,926
|
4,110,814
|
|
Stock-based expense - consulting services
|
823,504
|
303,619
|
2,486,286
|
|
Impairment of mineral property
|
339,664
|
-
|
339,664
|
|
Loss on sale of equipment
|
159,439
|
128,273
|
279,317
|
|
Gain on settlement of debt
|
(283,715)
|
-
|
(283,715)
|
|
Total operating expenses
|
5,459,567
|
1,698,898
|
9,940,802
|
|
OTHER INCOME (EXPENSE)
|
||||
Interest expense
|
(32,611)
|
(52,945)
|
(115,576)
|
|
(32,611)
|
(52,945)
|
(115,576)
|
||
NET LOSS
|
(4,333,436)
|
(1,511,932)
|
(8,636,725)
|
|
NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST
|
(743,537)
|
-
|
(743,537)
|
|
NET LOSS ATTRIBUTABLE TO MEXUS GOLD US
|
$ (3,589,899)
|
$ (1,511,932)
|
$ (7,893,188)
|
|
BASIC LOSS PER COMMON SHARE
|
$ (0.02)
|
$ (0.01)
|
||
WEIGHTED AVERAGE NUMBER OFCOMMON SHARES
|
||||
OUTSTANDING- BASIC
|
194,389,689
|
165,769,742
|
||
The accompanying notes are an integral part of these consolidated financial statements.
|
MEXUS GOLD US
|
(An Exploration Stage Company)
|
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT)
|
For the Period from Exploration Stage re-entry (September 18, 2009) to March 31, 2013
|
(Audited)
|
Preferred Stock
|
Series A Preferred Stock
|
Common Stock
|
Share
|
Deficit Accumulated During
|
Non-
|
Total
|
||||||||
Number of Shares
|
Amount
|
Number of Shares
|
Amount
|
Number of Shares
|
Amount
|
Additional Paid-in Capital
|
Subscription Payable
|
Accumulated Deficit
|
Exploration Stage
|
controlling interest
|
Shareholders' Equity (Deficit)
|
|||
Balance, September 18, 2009
|
-
|
$ -
|
-
|
$ -
|
136,614,000
|
$ 136,614
|
$ -
|
$ (648,441)
|
$ -
|
$ -
|
$ (511,827)
|
|||
Forgiveness of debt by related party and Cancellation of shares for cash
|
-
|
-
|
-
|
-
|
(129,025,000)
|
(129,025)
|
540,127
|
-
|
-
|
-
|
-
|
411,102
|
||
Shares issued for services
|
-
|
-
|
-
|
-
|
12,225,000
|
12,225
|
734,525
|
-
|
-
|
-
|
-
|
746,750
|
||
Shares issued for equipment
|
-
|
-
|
-
|
-
|
40,213,846
|
40,214
|
27,587
|
-
|
-
|
-
|
-
|
67,801
|
||
Shares issued for cash
|
-
|
-
|
-
|
-
|
44,389,833
|
44,390
|
175,564
|
-
|
-
|
-
|
-
|
219,954
|
||
Shares issued for options on mineral properties
|
-
|
-
|
-
|
-
|
250,000
|
250
|
-
|
-
|
-
|
-
|
-
|
250
|
||
Shares issued to Mexus Gold Mining S.A. de C.V.
|
-
|
-
|
-
|
-
|
40,000,000
|
40,000
|
2,180,000
|
-
|
-
|
-
|
-
|
2,220,000
|
||
Deemed Distribution to Mexus Gold Mining S.A. de C.V.
|
-
|
-
|
-
|
-
|
(2,220,000)
|
-
|
-
|
-
|
-
|
(2,220,000)
|
||||
Share subscription payable
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
20,000
|
-
|
-
|
-
|
20,000
|
||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(958,576)
|
-
|
(958,576)
|
||
Balance at March 31, 2010
|
-
|
$ -
|
-
|
$ -
|
144,667,679
|
$ 144,668
|
$ 1,437,803
|
$ 20,000
|
$ (648,441)
|
$ (958,576)
|
$ -
|
$ (4,546)
|
||
Shares issued for services
|
-
|
-
|
-
|
-
|
5,337,500
|
5,338
|
607,095
|
-
|
-
|
-
|
-
|
612,433
|
||
Shares issued for equipment
|
-
|
-
|
-
|
-
|
2,981,464
|
2,981
|
320,970
|
-
|
-
|
-
|
-
|
323,951
|
||
Shares issued for cash
|
-
|
-
|
-
|
-
|
6,630,952
|
6,631
|
820,069
|
-
|
-
|
-
|
-
|
826,700
|
||
Shares issued for options on mineral properties
|
-
|
-
|
-
|
-
|
1,500,000
|
1,500
|
279,000
|
-
|
-
|
-
|
-
|
280,500
|
||
Share subscription payable
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
135,245
|
-
|
-
|
-
|
135,245
|
||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,832,779)
|
-
|
(1,832,779)
|
||
Balance at March 31, 2011
|
-
|
$ -
|
-
|
$ -
|
161,117,595
|
$ 161,118
|
$ 3,464,937
|
$ 155,245
|
$ (648,441)
|
$ (2,791,355)
|
$ -
|
$ 341,504
|
||
Shares issued for services and supplies
|
-
|
-
|
-
|
-
|
2,671,367
|
2,671
|
272,460
|
-
|
-
|
-
|
-
|
275,131
|
||
Shares issued for equipment
|
-
|
-
|
-
|
-
|
955,034
|
955
|
165,236
|
-
|
-
|
-
|
-
|
166,191
|
||
Shares issued for cash
|
-
|
-
|
-
|
-
|
12,651,914
|
12,652
|
1,069,093
|
-
|
-
|
-
|
-
|
1,081,745
|
||
Shares issued for mineral properties
|
-
|
-
|
-
|
-
|
750,000
|
750
|
149,250
|
-
|
-
|
-
|
-
|
150,000
|
||
Shares issued for payments of loans, accounts payable and accrued interest
|
-
|
-
|
375,000
|
375
|
1,235,802
|
1,236
|
260,870
|
-
|
-
|
-
|
-
|
262,481
|
||
Share subscription payable
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(87,352)
|
-
|
-
|
-
|
(87,352)
|
||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,511,932)
|
-
|
(1,511,932)
|
||
Balance, March 31, 2012
|
-
|
$ -
|
375,000
|
$ 375
|
179,381,712
|
$ 179,382
|
$ 5,381,846
|
$ 67,893
|
$ (648,441)
|
$ (4,303,287)
|
$ -
|
$ 677,768
|
||
Shares issued for services and supplies
|
-
|
-
|
-
|
-
|
4,635,405
|
4,635
|
802,681
|
-
|
-
|
-
|
-
|
807,316
|
||
Shares issued for equipment
|
-
|
-
|
-
|
-
|
681,388
|
681
|
162,534
|
-
|
-
|
-
|
-
|
163,215
|
||
Shares issued for cash
|
-
|
-
|
-
|
-
|
22,461,892
|
22,462
|
3,350,071
|
-
|
-
|
-
|
-
|
3,372,533
|
||
Shares issued for mineral properties
|
-
|
-
|
-
|
-
|
1,100,000
|
1,100
|
410,900
|
-
|
-
|
-
|
-
|
412,000
|
||
Shares issued for payments of loans, accounts payable and accrued interest
|
-
|
-
|
-
|
-
|
4,207,680
|
4,208
|
1,158,739
|
-
|
-
|
-
|
-
|
1,162,947
|
||
Share subscription payable
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
349,476
|
-
|
-
|
-
|
349,476
|
||
Non-controlling interest mineral property contribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
266,667
|
266,667
|
||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(3,589,899)
|
(743,537)
|
(4,333,436)
|
||
Balance, March 31, 2013
|
-
|
$ -
|
375,000
|
$ 375
|
212,468,077
|
$ 212,468
|
$ 11,266,771
|
$ 417,369
|
$ (648,441)
|
$ (7,893,186)
|
$ (476,870)
|
$ 2,878,486
|
||
The accompanying notes are an integral part of these consolidated financial statements.
|
Mexus Gold US
|
(An Exploration Stage Company)
|
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(Audited)
|
1.
|
ORGANIZATION AND BUSINESS OF COMPANY
|
2.
|
GOING CONCERN
|
3.
|
SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES
|
|
There have been no recent accounting pronouncements or changes in accounting pronouncements that impacted the fourth quarter of fiscal 2013, or which are expected to impact future periods that were not already adopted and disclosed in prior periods.
|
4.
|
MINERAL PROPERTIES AND EXPLORATION COSTS
|
Balance
March 31,
2012
|
Cash
Payments
|
Share-Based
Payments
|
Impairment
|
Balance
March 31,
2013
|
|
Lida Mining District (a)
|
$150,656
|
$3,640
|
$0
|
($154,296)
|
$0
|
Ures (b)
|
170,368
|
15,000
|
0
|
(185,368)
|
0
|
Corborca (c)
|
361,350
|
117,447
|
12,000
|
0
|
490,797
|
Trinidad (d)
|
0
|
76,019
|
666,667
|
0
|
742,686
|
$682,374
|
$212,106
|
$678,667
|
($339,664)
|
$1,233,483
|
|
Balance
March 31,
2011
|
Cash
Payments
|
Share-Based
Payments
|
Impairment
|
Balance
March 31,
2012
|
|
Lida Mining District (a)
|
$120,001
|
$10,655
|
$20,000
|
$0
|
$150,656
|
Ures (b)
|
110,868
|
59,500
|
0
|
0
|
170,368
|
Corborca (c)
|
220,700
|
10,650
|
130,000
|
0
|
361,350
|
$451,569
|
$80,805
|
$150,000
|
$0
|
$682,374
|
|
Balance
March 31,
2012
|
Cash
Payments
|
Share-Based
Payments
|
Balance
March 31,
2013
|
|
Lida Mining District (a)
|
$0
|
$0
|
$0
|
$0
|
Ures (b)
|
610,515
|
306,430
|
355,065
|
1,272,010
|
Corborca (c)
|
461,609
|
306,430
|
355,064
|
1,123,103
|
Trinidad (d)
|
0
|
2,668,374
|
0
|
2,668,374
|
$1,072,124
|
$3,281,234
|
$710,129
|
$5,063,487
|
|
Balance
March 31,
2011
|
Cash
Payments
|
Share-Based
Payments
|
Balance
March 31,
2012
|
|
Lida Mining District (a)
|
$0
|
$0
|
$0
|
$0
|
Ures (b)
|
208,280
|
280,963
|
121,272
|
610,515
|
Corborca (c)
|
59,374
|
280,963
|
121,272
|
461,609
|
$267,654
|
$561,926
|
$242,544
|
$1,072,124
|
|
(a)
|
Lida Mining District, Esmeralda County, Nevada
|
(b)
|
Ures, Sonora, Mexico
|
(c)
|
Corborca, Sonora, Mexico
|
(d)
|
Corborca, Sonora, Mexico
|
5.
|
NOTE RECEIVABLE AND RECOVERABLE DISBURSEMENTS - RELATED PARTY
|
6.
|
EQUIPMENT
|
Cost
|
Accumulated
Depreciation
|
March 31,
2013
Net Book
Value
|
March 31,
2013
Net Book
Value
|
|
Mining tools and equipment
|
$1,915,817
|
$243,729
|
$1,672,088
|
$446,298
|
Watercraft
|
298,950
|
82,150
|
216,800
|
665,383
|
Vehicles
|
106,930
|
40,005
|
66,925
|
19,416
|
$2,321,697
|
$365,884
|
$1,955,813
|
$1,131,097
|
|
7.
|
ACCOUNTS PAYABLE – RELATED PARTIES
|
8.
|
ACCOUNTS PAYABLE
|
9.
|
ADVANCE FROM POWERCOM SERVICES INC.
|
10.
|
NOTES PAYABLE – RELATED PARTY
|
11.
|
NOTES PAYABLE
|
12.
|
LOAN PAYABLE
|
13.
|
SHAREHOLDERS’ EQUITY (DEFICIT)
|
14.
|
RELATED PARTY TRANSACTIONS
|
15.
|
INCOME TAXES
|
Year Ended
March 31, 2013
|
Year Ended
March 31, 2012
|
|
Net loss before taxes
|
($4,333,436)
|
($1,511,931)
|
|
||
Income tax expense charged to loss before taxes
|
$0
|
$0
|
Year Ended
March 31, 2013
|
Year Ended
March 31, 2012
|
|
Expected tax expense (recovery)
|
($1,517,000)
|
($529,000)
|
Share-based payments
|
$288,000
|
$96,000
|
Loss on sale of equipment
|
$56,000
|
$45,000
|
Gain on settlement of debt
|
($99,000)
|
|
Impairment of mineral property
|
$119,000
|
|
Other than-temporary impairment of note receivable
|
$84,000
|
|
Change in valuation allowance
|
$1,069,000
|
$388,000
|
|
||
$0
|
$0
|
|
16.
|
SUBSEQUENT EVENTS
|
1 Year Mexus Gold US (CE) Chart |
1 Month Mexus Gold US (CE) Chart |
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