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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bravo Enterprises Ltd (CE) | USOTC:OGNG | 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% | 0.000006 | 0.00 | 01:00:00 |
BRAVO ENTERPRISES LTD.
|
NEVADA
|
88-01955105
|
|
(S
TATE OF INCORPORATION)
|
(I.R.S. ID)
|
Securities registered pursuant to Section 12(b) of the Act: |
COMMON STOCK | OTC: BB |
Large accelerated filer | o | Accelerated filer | o |
Non-accelerated filer | o | Smaller reporting company | x |
(Do not check if a smaller reporting company) |
Bravo Enterprises Ltd.
|
FORM 10-K
|
For The Fiscal Year Ended December 31, 2013
|
INDEX
|
December 31,
|
December 31,
|
|||||||
Description |
2013
|
2012
|
||||||
18 year general license to manufacture and distribute water units
|
$ | 1,560,000 | $ | 1,560,000 | ||||
Less: related party portion of consideration for license
|
(67,257 | ) | (67,257 | ) | ||||
Less: accumulated amortization
|
(82,930 | ) | - | |||||
Balance
|
$ | 1,409,813 | $ | 1,492,743 | ||||
Less: effect of 2014 cancellation of partial consideration for license
|
(1,175,200 | ) | - | |||||
Adjusted Balance
|
$ | 234,613 | $ | 1,492,743 |
Percent Ownership | Entity | Nature of Ownership |
2.1% | Legacy Platinum Group Inc. | 408,482 Shares of Common Stock * |
0.1% | Golden Star Enterprises Ltd. | 2,465 Shares of Common Stock |
Property | December 31, 2013 | December 31, 2012 | ||||||
Cash and equivalents | $ | 14,206 | $ | 86,781 |
Quarter
|
High
|
Low
|
||||||
2011 First Quarter
|
$ | 0.00 | $ | 0.00 | ||||
2011 Second Quarter
|
$ | 0.02 | $ | 0.01 | ||||
2011 Third Quarter
|
$ | 0.03 | $ | 0.01 | ||||
2011 Fourth Quarter
|
$ | 0.01 | $ | 0.00 | ||||
2012 First Quarter
|
$ | 0.01 | $ | 0.00 | ||||
2012 Second Quarter
|
$ | 0.05 | $ | 0.02 | ||||
2012 Third Quarter
|
$ | 0.06 | $ | 0.02 | ||||
2012 Fourth Quarter
|
$ | 0.22 | $ | 0.15 | ||||
2013 First Quarter
|
$ | 0.27 | $ | 0.15 | ||||
2013 Second Quarter
|
$ | 0.23 | $ | 0.15 | ||||
2013 Third Quarter
|
$ | 0.35 | $ | 0.21 | ||||
2013 Fourth Quarter
|
$ | 0.26 | $ | 0.18 |
(a)
|
The Company issued 80,000 restricted common shares valued at $8,000 to a consultant services earned in 2012.
|
(b)
|
The Company issued 800,000 restricted common shares for cash in the amount of $80,000 pursuant to private placement subscription agreements.
|
(c)
|
The Company issued 62,500 restricted common shares for cash received in 2012 in the amount of $5,000 pursuant to a private placement subscription agreement.
|
(d)
|
The Company issued 225,000 restricted common shares for cash in the amount of $35,000 pursuant to three private placement subscription agreements.
|
(e)
|
The Company issued 4,000,000 common shares for cash in the amount of $52,000 pursuant to the exercise of incentive stock options in accordance with the 2012 Stock Option Plan.
|
(f)
|
The Company issued 10,000 restricted common shares valued at $3,000 to a consultant for his services.
|
(g)
|
The Company issued 120,000 restricted common shares for cash in the amount of $20,200 pursuant to private placement subscription agreements.
|
(a)
|
The Company issued 4,500,000 restricted common shares valued at $99,450 pursuant to deferred compensation agreements.
|
(b)
|
The Company issued 120,000,000 restricted common shares valued at $1,492,743 pursuant to the exclusive licensing agreement acquiring the manufacturing and distribution rights for the air to water harvester units.
|
(c)
|
The Company issued a total of 19,000,000 common shares pursuant to the exercise of options under the Company’s 2012 Stock Incentive and Option Plan. These shares were issued at $0.013 per share for cash in the amount of $50,000 and to satisfy debt to related parties in the amount of $197,000.
|
(d)
|
The Company issued 625,000 restricted common shares for cash in the amount of $50,000 pursuant to a private placement subscription agreement. The Company received an additional $5,000 pursuant to a private placement subscription agreement and issued the 62,500 restricted common shares to the subscriber subsequent to year end.
|
Number of options
|
Weighted Average Exercise Price
|
Weighted Average Remaining Contractual Life
(in years)
|
||||||||||
Balance, December 31, 2011
|
- | - | - | |||||||||
Granted during 2012
|
26,000,000 | 0.013 | 5.00 | |||||||||
Exercised during 2012
|
(19,000,000 | ) | 0.013 | |||||||||
Balance, December 31, 2012
|
7,000,000 | 0.013 | 5.00 | |||||||||
Granted during the period
|
- | - | - | |||||||||
Exercised during the period
|
(4,000,000 | ) | - | - | ||||||||
Balance December 31,2013
|
3,000,000 | 0.013 | 5.00 |
Number of options
|
Weighted Average Exercise Price
|
Weighted Average Remaining Contractual Life
(in years)
|
||||||||||
Balance, December 31, 2011
|
- | - | - | |||||||||
Granted during 2012
|
26,000,000 | 0.013 | 5.00 | |||||||||
Exercised during 2012
|
(19,000,000 | ) | 0.013 | |||||||||
Balance, December 31, 2012
|
7,000,000 | 0.013 | 5.00 |
Expected dividend yield
|
0 | % | ||
Risk-free interest rate
|
4.99 | % | ||
Expected volatility
|
164.35 | % | ||
Expected option life (in years)
|
1 |
Fiscal Year Ended December 31
|
2013
|
2012
|
||||||
Revenue
|
$ | 37,481 | $ | 2,995 | ||||
Operating Loss
|
(489,019 | ) | (302,218 | ) | ||||
Net Loss
|
(489,019 | ) | (302,218 | ) | ||||
Basic net loss per share
|
(0.00 | ) | (0.02 | ) | ||||
Cash dividends declared per share
|
- | - | ||||||
Cash, cash equivalents, and short-term investments
|
14,206 | 86,781 | ||||||
Total assets
|
309,014 | 1,587,141 | ||||||
Long-term obligations
|
- | - | ||||||
Stockholders’ equity (deficit)
|
(291,853 | ) | 1,090,942 |
Year ended
December 31,
2013
|
Year ended
December 31,
2012
|
Cumulative from January 1, 1996 (inception of development
stage)
to
December 31,
2013
|
||||||||||
REVENUES | ||||||||||||
- Water Unit Sales – related party distributors
|
$ | 33,377 | $ | 2,396 | $ | 35,773 | ||||||
- Water Unit Sales – other | 4,104 | 599 | 4,703 | |||||||||
TOTAL REVENUES
|
37,481 | 2,995 | 40,476 | |||||||||
COST OF GOODS SOLD
|
24,265 | 1,500 | 25,765 | |||||||||
GROSS PROFIT
|
13,216 | 1,495 | 14,711 | |||||||||
GENERAL AND ADMINISTRATIVE EXPENSES
|
||||||||||||
Litigation settlement
|
- | - | 2,291,070 | |||||||||
Management and consulting fees
|
210,698 | 109,050 | 5,225,366 | |||||||||
Consulting fees – stock based compensation
|
- | 70,000 | 1,989,869 | |||||||||
Exploration costs
|
- | - | 113,678 | |||||||||
Loss on settlement of debt
|
- | - | 718,784 | |||||||||
General and administrative
|
117,257 | 86,279 | 3,045,618 | |||||||||
Professional fees
|
45,817 | 38,384 | 1,263,798 | |||||||||
Amortization
|
82,930 | - | 82,930 | |||||||||
Interest and Penalties
|
45,533 | - | 143,815 | |||||||||
Research and development costs
|
- | - | 285,231 | |||||||||
Software development costs
|
- | - | 737,300 | |||||||||
TOTAL GENERAL AND ADMINISTRATIVE EXPENSES
|
502,235 | 303,713 | 15,897,459 | |||||||||
OTHER (INCOME) EXPENSES
|
||||||||||||
Interest, royalty and other income
|
- | - | (82,138 | ) | ||||||||
(Gain)/loss on sale of securities – related parties
|
- | - | (21,541 | ) | ||||||||
Property Option Income
|
- | - | (130,000 | ) | ||||||||
Write-down of securities – Legacy Platinum Group Inc.
|
- | - | 258,580 | |||||||||
Write-down of securities – Golden Star Enterprises Ltd.
|
- | - | 15,768 | |||||||||
Write-down of interest in ACGT Corporation
|
- | - | 1,406,000 | |||||||||
Write-down of interest in oil and gas properties
|
- | - | 3,815,659 | |||||||||
Loss on Iceberg Drive Inn investment
|
- | - | 85,000 | |||||||||
TOTAL OTHER (INCOME) EXPENSES
|
- | - | 5,347,328 | |||||||||
Loss before income taxes
|
(489,019 | ) | (302,218 | ) | (21,230,076 | ) | ||||||
Income tax provision
|
- | - | - | |||||||||
NET LOSS
|
$ | (489,019 | ) | $ | (302,218 | ) | $ | (21,230,076 | ) | |||
BASIC AND DILUTED NET LOSS PER SHARE
|
$ | (0.00 | ) | $ | (0.02 | ) | ||||||
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
|
150,459,950 | 13,653,008 |
Number
Of
|
Additional
Paid In
|
Accumulated
Other
Comprehensive
Income
|
Deferred
|
Treasury
|
Promissory
Notes
|
Deficit
Accumulated
During
The Exploration
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Capital
|
(Loss)
|
Compensation
|
Subscriptions
|
Stock
|
Receivable
|
Stage
|
Total
|
Balance, January 1, 1996
|
208 | - | $ | 4,361,900 | $ | - | $ | - | $ | - | $ | (199,167 | ) | $ | - | $ | (4,460,633 | ) | $ | (297,900 | ) | ||||||||||
Shares issued to settle litigation – Jan. 9, 1996
|
21 | - | 2,469,882 | - | - | - | - | - | - | 2,469,882 | |||||||||||||||||||||
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Net loss for the year ended December 31, 1996
|
- | - | - | - | - | - | - | - | (2,726,232 | ) | (2,726,232 | ) | |||||||||||||||||||
Balance, December 31, 1996
|
229 | - | 6,831,782 | - | - | - | (199,167 | ) | - | (7,186,865 | ) | (554,250 | ) | ||||||||||||||||||
Shares issued to settle note payable and accrued interest –Jan. 25, 1997
|
208 | - | 477,000 | - | - | - | - | - | - | 477,000 | |||||||||||||||||||||
Shares issued for services at $1,801.20 per share – April 15, 1997
|
23 | - | 41,250 | - | - | - | - | - | - | 41,250 | |||||||||||||||||||||
Shares issued for services at $610.00 per share – May 26, 1997
|
173 | - | 105,500 | - | - | - | - | - | - | 105,500 | |||||||||||||||||||||
Net loss for the year ended December 31, 1997
|
- | - | - | - | - | - | - | - | (93,933 | ) | (93,933 | ) | |||||||||||||||||||
Balance, December 31, 1997
|
633 | - | 7,455,532 | - | - | - | (199,167 | ) | - | (7,280,798 | ) | (24,433 | ) | ||||||||||||||||||
Shares issued for services at $288.00 per share – Dec. 28, 1998
|
83 | - | 24,000 | - | - | - | - | - | - | 24,000 | |||||||||||||||||||||
Shares issued for services at $120.00 per share – Dec. 28, 1998
|
6 | - | 750 | - | - | - | - | - | - | 750 | |||||||||||||||||||||
Net loss for the year ended December 31, 1998
|
- | - | - | - | - | - | - | - | (45,655 | ) | (45,655 | ) | |||||||||||||||||||
Balance, December 31, 1998
|
722 | - | 7,480,282 | - | - | - | (199,167 | ) | - | (7,326,453 | ) | (45,338 | ) | ||||||||||||||||||
- | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Shares issued for services at $547.60 – Dec. 28, 1999
|
67 | - | 36,500 | - | - | - | - | - | - | 36,500 | |||||||||||||||||||||
Net loss for the year ended December 31, 1999
|
- | - | - | - | - | - | - | - | (26,218 | ) | (26,218 | ) | |||||||||||||||||||
Balance, December 31, 1999
|
789 | - | 7,516,782 | - | - | - | (199,167 | ) | - | (7,352,671 | ) | (35,056 | ) | ||||||||||||||||||
Correction of treasury stock
|
- | (199,167 | ) | - | - | - | 199,167 | - | - | - | |||||||||||||||||||||
Shares issued for software development at $720.00 per share– March 23, 2000
|
833 | 1 | 599,999 | - | - | - | - | - | - | 600,000 | |||||||||||||||||||||
Shares issued for services and interest at $240.00 per share –Sept. 22, 2000
|
55 | - | 13,250 | - | - | - | - | - | - | 13,250 | |||||||||||||||||||||
Shares issued for interest in oil and gas property at $696.00 per share – Sept. 22, 2000
|
2,292 | 3 | 1,594,997 | - | - | - | - | - | - | 1,595,000 | |||||||||||||||||||||
Shares issued for services and advances at $1,008.00 per share – Sept. 24, 2000
|
304 | - | 306,600 | - | - | - | - | - | - | 306,600 | |||||||||||||||||||||
Shares issued for services at $1,800.00 per share – Nov. 6, 2000
|
198 | - | 355,800 | - | - | - | - | - | - | 355,800 | |||||||||||||||||||||
Share reconciliation
|
(1 | ) | - | (1 | ) | - | - | - | - | - | - | (1 | ) | ||||||||||||||||||
Net loss for the year ended December 31, 2000
|
- | - | - | - | - | - | - | - | (1,223,108 | ) | (1,223,108 | ) | |||||||||||||||||||
Balance, December 31, 2000
|
4,470 | 4 | 10,188,260 | - | - | - | - | - | (8,575,779 | ) | 1,612,485 | ||||||||||||||||||||
Common stock subscriptions, 417 shares at $1,680.00 per
|
|||||||||||||||||||||||||||||||
share, net of finder’s fee of $70,000 – Jan. 30, 2001
|
- | - | - | - | - | 630,000 | - | 630,000 | |||||||||||||||||||||||
Shares issued for Harvester Property finder’s fee at $1,402.80 per share – Feb. 27, 2001
|
21 | - | 29,250 | - | - | - | - | - | 29,250 | ||||||||||||||||||||||
Shares issued for debt at $1,728.00 per share – March 27, 2001
|
180 | - | 310,517 | - | - | - | - | - | 310,517 | ||||||||||||||||||||||
Shares issued for cash at $1,200.00 per share – July 13, 2001
|
146 | - | 175,000 | - | - | - | - | - | 175,000 | ||||||||||||||||||||||
Shares issued for debt at $1,200.00 per share – Aug. 15, 2001
|
181 | - | 217,229 | - | - | - | - | - | 217,229 | ||||||||||||||||||||||
Common stock subscriptions, 2 shares at $1,200.00 per share– July 10, 2001
|
- | - | - | - | - | - | 3,000 | - | 3,000 | ||||||||||||||||||||||
Shares issued for cash at $648.00 per share, net of finder’s fee of $30,000 – Oct. 12, 2001
|
417 | 1 | 269,999 | - | - | - | - | - | 270,000 | ||||||||||||||||||||||
Shares issued for debt at $960.00 per share – Nov. 5, 2001
|
220 | - | 211,333 | - | - | - | - | - | 211,333 | ||||||||||||||||||||||
Shares issued for deferred compensation at $1,127.80 per share –Nov. 15, 2001
|
83 | - | 94,000 | - | (94,000 | ) | - | - | - | - | |||||||||||||||||||||
Deferred compensation expense recorded in the year
|
- | - | - | - | 3,917 | - | - | - | 3,917 | ||||||||||||||||||||||
Net loss for the year ended December 31, 2001
|
- | - | - | - | - | - | - | (3,120,340 | ) | (3,120,340 | ) | ||||||||||||||||||||
Balance, December 31, 2001
|
5,718 | 5 | 11,495,588 | - | (90,083 | ) | - | 633,000 | - | (11,696,119 | ) | 342,391 |
Number
Of
|
Additional
Paid In
|
Accumulated
Other
Comprehensive
Income
|
Deferred
|
Treasury
|
Promissory
Notes
|
Deficit
Accumulated
During
The Exploration
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Capital
|
(Loss)
|
Compensation
|
Subscriptions
|
Stock
|
Receivable
|
Stage
|
Total
|
Shares returned to treasury and cancelled – Jan. 21, 2002
|
(20 | ) | - | (9,500 | ) | - | - | - | - | - | (9,500 | ) | |||||||||||||||||||
Shares issued from stock subscriptions – Jan. 31, 2002
|
417 | 1 | 629,999 | - | - | - | (630,000 | ) | - | - | |||||||||||||||||||||
Shares issued for services at $816.00 per share – Feb. 19, 2002
|
382 | - | 311,478 | - | - | - | - | - | 311,478 | ||||||||||||||||||||||
Shares issued for acquisition of rights at $792.00 per share –March 6, 2002
|
1,667 | 2 | 1,319,998 | - | - | - | - | - | 1,320,000 | ||||||||||||||||||||||
Shares issued for services at $816.00 per share – March 31, 2002
|
146 | - | 119,000 | - | - | - | - | - | 119,000 | ||||||||||||||||||||||
Shares issued for services at $336.00 per share – May 21, 2002
|
1,790 | 2 | 601,608 | - | - | - | - | - | 601,610 | ||||||||||||||||||||||
Shares returned to treasury and cancelled – June 5, 2002
|
(42 | ) | - | (33,000 | ) | - | - | - | - | - | (33,000 | ) | |||||||||||||||||||
Shares issued for cash at $1,200.00 per share – Sept. 5, 2002
|
2 | - | 3,000 | - | - | - | (3,000 | ) | - | - | |||||||||||||||||||||
Shares issued for services at $192.00 per share – Sept 5, 2002
|
883 | 1 | 169,599 | - | - | - | - | - | 169,600 | ||||||||||||||||||||||
Shares issued for fees at $192.00 per share – Sept. 5, 2002
|
167 | - | 32,000 | - | - | - | - | - | 32,000 | ||||||||||||||||||||||
Shares issued for deferred compensation at $28.80 per share – Dec. 13, 2002
|
27,083 | 28 | 779,972 | - | (780,000 | ) | - | - | - | - | |||||||||||||||||||||
Shares issued for services at $28.80 per share – Dec. 16, 2002
|
15,375 | 15 | 442,785 | - | - | - | - | - | 442,800 | ||||||||||||||||||||||
Deferred compensation expense recorded in the year
|
- | - | - | - | 44,707 | - | - | - | 44,707 | ||||||||||||||||||||||
Net loss for the year ended December 31, 2002
|
- | - | - | - | - | - | - | (3,360,353 | ) | (3,360,353 | ) | ||||||||||||||||||||
Balance, December 31, 2002
|
53,568 | 54 | 15,862,527 | - | (825,376 | ) | - | - | - | (15,056,472 | ) | (19,267 | ) | ||||||||||||||||||
Shares issued for stock options at $36.00 – Jan. 2, 2003
|
1,250 | 1 | 44,999 | - | - | - | - | - | 45,000 | ||||||||||||||||||||||
Shares issued for stock options at $36.00 – Jan. 24, 2003
|
417 | - | 15,000 | - | - | - | - | - | 15,000 | ||||||||||||||||||||||
Shares issued for stock options at $36.00 – Feb.18, 2003
|
416 | - | 15,000 | - | - | - | - | - | 15,000 | ||||||||||||||||||||||
Shares issued for stock options at $36.00 – Feb.25, 2003
|
1,042 | 1 | 37,499 | - | - | - | - | - | 37,500 | ||||||||||||||||||||||
Shares issued for stock options at $36.00 – Mar.3, 2003
|
8,125 | 8 | 292,492 | - | - | - | - | - | 292,500 | ||||||||||||||||||||||
Shares returned to treasury and cancelled – Mar. 6, 2003
|
(5 | ) | - | (5,500 | ) | - | - | - | - | - | (5,500 | ) | |||||||||||||||||||
Shares issued for cash at $30.00 per share – Mar. 17,2003
|
3,333 | 3 | 99,997 | - | - | - | - | - | 100,000 | ||||||||||||||||||||||
Shares issued for stock options at $36.00 – May 12, 2003
|
2,917 | 4 | 104,996 | - | - | - | - | - | 105,000 | ||||||||||||||||||||||
Shares issued for stock options at $36.00 – May 30, 2003
|
2,916 | 3 | 104,997 | - | - | - | - | - | 105,000 | ||||||||||||||||||||||
Shares issued for stock options at $7.20 – June 13, 2003
|
3,750 | 4 | 26,996 | - | - | - | - | - | 27,000 | ||||||||||||||||||||||
Shares issued for stock options at $7.20 – June 23, 2003
|
1,250 | 1 | 8,999 | - | - | - | - | - | 9,000 | ||||||||||||||||||||||
Shares issued for stock options at $7.20 – June 26, 2003
|
417 | - | 3,000 | - | - | - | - | - | 3,000 | ||||||||||||||||||||||
Shares returned to treasury and cancelled – July 11, 2003
|
(3,333 | ) | (3 | ) | (39,997 | ) | - | - | - | - | - | (40,000 | ) | ||||||||||||||||||
Shares issued for stock options at $7.20 – July 24, 2003
|
1,354 | 1 | 9,749 | - | - | - | - | - | 9,750 | ||||||||||||||||||||||
Shares issued for stock options at $7.20 – August 1, 2003
|
1,146 | 1 | 8,249 | - | - | - | - | - | 8,250 | ||||||||||||||||||||||
Shares issued for stock options at $7.20 – August 3, 2003
|
417 | - | 3,000 | - | - | - | - | - | 3,000 | ||||||||||||||||||||||
Shares issued for stock options at $7.20 – August 11, 2003
|
937 | 1 | 6,749 | - | - | - | - | - | 6,750 | ||||||||||||||||||||||
Shares issued for stock options at $7.20 – August 14, 2003
|
312 | - | 2,250 | - | - | - | - | - | 2,250 | ||||||||||||||||||||||
Shares issued for stock options at $9.60 – August 14, 2003
|
1,771 | 2 | 16,998 | - | - | - | - | - | 17,000 | ||||||||||||||||||||||
Shares issued for stock options at $9.60 - August 29, 2003
|
5,313 | 5 | 50,995 | - | - | - | - | - | 51,000 | ||||||||||||||||||||||
Shares issued for services at $18.00 per share – October 3, 2003
|
4,611 | 5 | 82,995 | - | - | - | - | - | 83,000 | ||||||||||||||||||||||
Shares issued for stock options at $11.40 – October 3, 2003
|
7,083 | 7 | 80,743 | - | - | - | - | - | 80,750 | ||||||||||||||||||||||
Shares issued for stock options at $11.40 – October 6, 2003
|
2,500 | 3 | 28,497 | - | - | - | - | - | 28,500 | ||||||||||||||||||||||
Shares issued for stock options at $9.60– October 21, 2003
|
6,667 | 7 | 63,993 | - | - | - | - | - | 64,000 | ||||||||||||||||||||||
Shares issued for stock options at $6.60 - October 24, 2003
|
1,852 | 2 | 12,222 | - | - | (10,984 | ) | - | - | 1,240 | |||||||||||||||||||||
Shares issued for stock options at $5.40 – October 27, 2003
|
6,667 | 7 | 35,993 | - | - | (36,000 | ) | - | - | - | |||||||||||||||||||||
Shares issued for mining property at $10.80 – October 27, 2003
|
833 | 1 | 8,999 | - | - | - | - | - | 9,000 | ||||||||||||||||||||||
Shares issued for stock options at $4.80 – November 3, 2003
|
7,250 | 7 | 34,793 | - | - | (34,800 | ) | - | - | - | |||||||||||||||||||||
Shares issued for stock options at $4.80 – November 12, 2003
|
8,333 | 8 | 39,992 | - | - | (40,000 | ) | - | - | - | |||||||||||||||||||||
Shares issued for stock options at $4.80 – November 13, 2003
|
3,083 | 3 | 14,797 | - | - | (14,800 | ) | - | - | - | |||||||||||||||||||||
Shares issued for stock options at $4.80 – November 18, 2003
|
10,750 | 11 | 51,589 | - | - | (51,600 | ) | - | - | - | |||||||||||||||||||||
Shares issued for stock options at $4.80 – November 24, 2003
|
9,148 | 9 | 43,901 | - | - | (43,910 | ) | - | - | - | |||||||||||||||||||||
Shares returned to treasury and cancelled – December 15, 2003
|
(1,000 | ) | (1 | ) | (17,999 | ) | - | - | - | - | - | (18,000 | ) | ||||||||||||||||||
Stock Based Compensation
|
- | - | 651,000 | - | - | - | - | - | 651,000 | ||||||||||||||||||||||
Deferred compensation expense recorded in the year
|
- | - | - | - | 352,332 | - | - | - | 352,332 | ||||||||||||||||||||||
Net loss for the year ended December 31, 2003
|
- | - | - | - | - | - | - | (2,170,465 | ) | (2,170,465 | ) | ||||||||||||||||||||
Balance, December 31, 2003
|
155,090 | 155 | 17,800,510 | - | (473,044 | ) | (232,094 | ) | - | - | (17,226,937 | ) | (131,410 | ) |
Number
Of
|
Additional
Paid In
|
Accumulated
Other
Comprehensive
Income
|
Deferred
|
Treasury
|
Promissory
Notes
|
Deficit
Accumulated
During
The Exploration
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Capital
|
(Loss)
|
Compensation
|
Subscriptions
|
Stock
|
Receivable
|
Stage
|
Total
|
Shares issued for services at $7.20 – January 15, 2004
|
17,500 | 17 | 125,983 | - | (126,000 | ) | - | - | - | - | |||||||||||||||||||||
Share subscriptions received – January 21, 2004
|
- | - | - | - | - | 232,094 | - | - | 232,094 | ||||||||||||||||||||||
Shares issued for debt at $6.60 – February 11, 2004
|
25,833 | 26 | 170,474 | - | - | - | - | - | 170,500 | ||||||||||||||||||||||
Shares issued for mineral property at $6.60 – February 27, 2004
|
16,667 | 16 | 109,984 | - | - | - | - | - | 110,000 | ||||||||||||||||||||||
Shares issued for debt at $4.80 – May 26, 2004
|
41,666 | 42 | 199,958 | - | - | - | - | - | 200,000 | ||||||||||||||||||||||
Shares issued for stock options at $3.60 – July 7, 2004
|
22,917 | 23 | 82,477 | - | - | - | - | - | 82,500 | ||||||||||||||||||||||
Shares returned and cancelled – July 9, 2004
|
(3,500 | ) | (4 | ) | (18,996 | ) | - | - | - | - | - | (19,000 | ) | ||||||||||||||||||
Shares issued for stock options at $4.80 – September 17, 2004
|
16,666 | 17 | 79,983 | - | - | - | - | - | 80,000 | ||||||||||||||||||||||
Shares returned and cancelled – September 28, 2004
|
(16,666 | ) | (17 | ) | (79,983 | ) | - | - | - | - | - | (80,000 | ) | ||||||||||||||||||
Shares issued for stock options at $3.60 – September 28, 2004
|
18,750 | 19 | 67,481 | - | - | - | - | - | 67,500 | ||||||||||||||||||||||
Shares issued for services at $7.20 – October 1, 2004
|
1,667 | 2 | 12,998 | - | (13,000 | ) | - | - | - | - | |||||||||||||||||||||
Shares issued for stock options at $4.80 – October 7, 2004
|
10,000 | 10 | 47,990 | - | - | - | - | - | 48,000 | ||||||||||||||||||||||
Shares issued for stock options at $4.80 – November 22, 2004
|
55,000 | 55 | 263,945 | - | - | - | - | - | 264,000 | ||||||||||||||||||||||
Shares issued for stock options at $4.80 – November 23, 2004
|
11,667 | 11 | 55,989 | - | - | - | - | - | 56,000 | ||||||||||||||||||||||
Shares returned and cancelled – November 23, 2004
|
(5,000 | ) | (5 | ) | (23,995 | ) | - | - | - | - | - | (24,000 | ) | ||||||||||||||||||
Shares returned and cancelled – November 24, 2004
|
(1,083 | ) | (1 | ) | (10,499 | ) | - | - | - | - | - | (10,500 | ) | ||||||||||||||||||
Shares issued for salaries – December 1, 2004
|
1,667 | 2 | 19,998 | - | - | - | - | - | 20,000 | ||||||||||||||||||||||
Shares returned and cancelled – November 23, 2004
|
(33,333 | ) | (33 | ) | (159,967 | ) | - | - | - | - | - | (160,000 | ) | ||||||||||||||||||
Shares issued for stock options at $4.80 - December 8, 2004
|
20,833 | 21 | 99,979 | - | - | - | - | - | 100,000 | ||||||||||||||||||||||
Shares issued for stock options at $4.80 - December 13, 2004
|
7,917 | 8 | 37,992 | - | - | - | - | - | 38,000 | ||||||||||||||||||||||
Shares issued for stock options at $4.80 - December 16, 2004
|
12,917 | 13 | 61,987 | - | - | - | - | - | 62,000 | ||||||||||||||||||||||
Stock Based Compensation
|
- | - | 338,500 | - | - | - | - | - | 338,500 | ||||||||||||||||||||||
Deferred compensation expense recorded in the year
|
- | - | - | - | 418,582 | - | - | - | 418,582 | ||||||||||||||||||||||
Unrealized losses on available for sale securities
|
- | - | - | (10,000 | ) | - | - | - | - | (10,000 | ) | ||||||||||||||||||||
Net loss for the year ended December 31, 2004
|
- | - | - | - | - | - | - | (1,678,056 | ) | (1,678,056 | ) | ||||||||||||||||||||
Balance, December 31, 2004
|
377,175 | 377 | 19,282,788 | (10,000 | ) | (193,462 | ) | - | - | - | (18,904,993 | ) | 174,710 | ||||||||||||||||||
Shares issued for stock options at $16.80 – January 20, 2005
|
8,333 | 8 | 139,992 | - | - | - | - | - | 140,000 | ||||||||||||||||||||||
Shares issued for stock options at $15.60 – January 21, 2005
|
5,000 | 5 | 77,995 | - | - | - | - | - | 78,000 | ||||||||||||||||||||||
Shares issued for services at $15.60 – January 21, 2005
|
833 | 1 | 12,999 | - | - | - | - | - | 13,000 | ||||||||||||||||||||||
Shares issued for cash at $3.00 – February 4, 2005, net of finder’s fee of $130,900 (Note (1))
|
99,167 | 99 | 761,501 | - | - | - | - | - | 761,600 | ||||||||||||||||||||||
Shares issued for finder’s fees at $13.20 – February 7, 2005 (Note 7(1))
|
29,917 | 30 | 394,870 | - | - | - | - | - | 394,900 | ||||||||||||||||||||||
Shares issued for services at $13.20 – February 7, 2005
|
4,167 | 4 | 54,996 | - | - | - | - | - | 55,000 | ||||||||||||||||||||||
Shares issued for stock options at $12.00 - February 10, 2005
|
1,083 | 1 | 12,999 | - | - | - | - | - | 13,000 | ||||||||||||||||||||||
Shares issued for services at $10.80 – February 17, 2005
|
1,667 | 2 | 17,998 | - | - | - | - | - | 18,000 | ||||||||||||||||||||||
Shares issued for stock options at $10.80 – February 25, 2005
|
417 | - | 4,500 | - | - | - | - | - | 4,500 | ||||||||||||||||||||||
Shares issued for stock options at $10.80 – March 22, 2005
|
3,133 | 3 | 33,837 | - | - | - | - | - | 33,840 | ||||||||||||||||||||||
Shares issued for stock options at $8.40 – April 7, 2005
|
4,167 | 4 | 34,996 | - | - | - | - | - | 35,000 | ||||||||||||||||||||||
Shares issued for stock options at $6.60 - April 21, 2005
|
8,333 | 8 | 54,992 | - | - | - | - | - | 55,000 | ||||||||||||||||||||||
Shares issued for stock options at $7.80 – May 17, 2005
|
7,500 | 8 | 58,492 | - | - | - | - | - | 58,500 | ||||||||||||||||||||||
Shares issued for stock options at $6.60 - April 29, 2005
|
4,167 | 4 | 27,496 | - | - | - | - | - | 27,500 | ||||||||||||||||||||||
Shares issued for stock options at $7.80 – May 26, 2005
|
10,833 | 11 | 84,489 | - | - | - | - | - | 84,500 | ||||||||||||||||||||||
Shares issued for stock options at $7.80 – June 14, 2005
|
4,167 | 4 | 32,496 | - | - | - | - | - | 32,500 | ||||||||||||||||||||||
Shares issued for stock options at $7.80 – June 28, 2005
|
5,416 | 5 | 42,245 | - | - | - | - | - | 42,250 | ||||||||||||||||||||||
Shares issued for services at $8.40 – June 28, 2005
|
6,666 | 7 | 55,993 | - | - | - | - | - | 56,000 | ||||||||||||||||||||||
Shares issued for stock options at $7.20 – August 10, 2005
|
10,250 | 10 | 73,790 | - | - | - | - | - | 73,800 | ||||||||||||||||||||||
Shares issued for stock options at $7.20 – August 11, 2005
|
2,083 | 2 | 14,998 | - | - | - | - | - | 15,000 | ||||||||||||||||||||||
Shares returned and cancelled– August 30, 2005
|
(2,083 | ) | (2 | ) | (16,248 | ) | - | - | - | - | - | (16,250 | ) | ||||||||||||||||||
Shares issued for stock options at $6.60 – August 12, 2005
|
28,750 | 29 | 189,721 | - | - | - | - | - | 189,750 | ||||||||||||||||||||||
Shares issued for stock options at $6.60 – September 14, 2005
|
4,250 | 4 | 28,046 | - | - | - | - | - | 28,050 |
Number
Of
|
Additional
Paid In
|
Accumulated
Other
Comprehensive
Income
|
Deferred
|
Treasury
|
Promissory
Notes
|
Deficit
Accumulated
During
The Exploration
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Capital
|
(Loss)
|
Compensation
|
Subscriptions
|
Stock
|
Receivable
|
Stage
|
Total
|
Shares issued for stock options at $6.60 – September 22, 2005
|
4,166 | 4 | 27,496 | - | - | - | - | - | 27,500 | ||||||||||||||||||||||
Shares issued for stock options at $6.60 – October 12, 2005
|
4,083 | 4 | 26,946 | - | - | - | - | - | 26,950 | ||||||||||||||||||||||
Shares issued for stock options at $7.80 – November 30, 2005
|
1,667 | 2 | 12,998 | - | - | - | - | - | 13,000 | ||||||||||||||||||||||
Shares issued for stock options at $6.60 – December 21, 2005
|
4,700 | 5 | 31,015 | - | - | - | - | - | 31,020 | ||||||||||||||||||||||
Stock based compensation
|
- | - | 620,640 | - | - | - | - | - | 620,640 | ||||||||||||||||||||||
Deferred compensation expense recorded in the year
|
- | - | - | - | 125,172 | - | - | - | 125,172 | ||||||||||||||||||||||
Unrealized losses on available for sale securities
|
- | - | - | (90,000 | ) | - | - | - | - | (90,000 | ) | ||||||||||||||||||||
Net loss for the year ended December 31, 2005
|
- | - | - | - | - | - | - | (1,950,963 | ) | (1,950,963 | ) | ||||||||||||||||||||
Balance December 31, 2005
|
640,007 | 639 | 22,195,076 | (100,000 | ) | (68,290 | ) | - | - | - | (20,855,956 | ) | 1,171,469 | ||||||||||||||||||
Shares issued for stock options at $6.60 – January 16, 2006
|
3,333 | 3 | 21,997 | - | - | - | - | - | - | 22,000 | |||||||||||||||||||||
Shares issued for stock options at $6.60 – February 6, 2006
|
3,333 | 3 | 21,997 | - | - | - | - | - | - | 22,000 | |||||||||||||||||||||
Shares issued for stock options at $6.60 – February 23, 2006
|
1,667 | 2 | 10,998 | - | - | - | - | - | - | 11,000 | |||||||||||||||||||||
Shares issued for services at $7.20 – January 21, 2006
|
1,667 | 2 | 11,998 | - | - | - | - | - | - | 12,000 | |||||||||||||||||||||
Shares issued for cash at $2.00 – May 12, 2006, net of fees and expenses of $151,455 (Note (1))
|
133,333 | 133 | 648,412 | - | - | - | - | - | - | 648,545 | |||||||||||||||||||||
Shares issued for finder’s fees – May 6, 2006 - (Note 7(1))
|
20,000 | 20 | (20 | ) | - | - | - | - | - | - | - | ||||||||||||||||||||
Shares issued for services at $7.20– May 23, 2006
|
833 | 1 | 7,499 | - | - | - | - | - | - | 7,500 | |||||||||||||||||||||
Shares issued for stock options at $7.20 – May 24, 2006
|
1,667 | 2 | 11,998 | - | - | - | - | - | - | 12,000 | |||||||||||||||||||||
Shares issued for services at $9.00 – May 25, 2006
|
8,333 | 8 | 74,992 | - | (75,000 | ) | - | - | - | - | - | ||||||||||||||||||||
Shares returned on reduction of finders’ fee – September 27, 2006 (Note 7(1))
|
(6,666 | ) | (6 | ) | 6 | - | - | - | - | - | - | - | |||||||||||||||||||
Shares issued for stock options at $6.00 – October 2, 2006
|
94,583 | 95 | 567,405 | - | - | - | - | (567,500 | ) | - | - | ||||||||||||||||||||
Shares issued for stock options at $6.00 – October 3, 2006
|
8,750 | 9 | 52,491 | - | - | - | - | (52,500 | ) | - | - | ||||||||||||||||||||
Shares issued for services at $6.00 – November 1, 2006
|
8,000 | 8 | 47,992 | - | (48,000 | ) | - | - | - | - | - | ||||||||||||||||||||
Shares issued for services at $7.20 – December 12, 2006
|
1,167 | 1 | 8,399 | - | - | - | - | - | - | 8,400 | |||||||||||||||||||||
Stock based compensation
|
- | - | 241,000 | - | - | - | - | - | - | 241,000 | |||||||||||||||||||||
Interest accrued on promissory notes receivable
|
- | - | - | - | - | - | - | (15,500 | ) | - | (15,500 | ) | |||||||||||||||||||
Deferred compensation expense recorded in the year
|
- | - | - | - | 134,492 | - | - | - | - | 134,492 | |||||||||||||||||||||
Unrealized losses on available for sale securities
|
- | - | - | (8,889 | ) | - | - | - | - | - | (8,889 | ) | |||||||||||||||||||
Net loss for the year ended December 31, 2006
|
- | - | - | - | - | - | - | - | (738,090 | ) | (738,090 | ) | |||||||||||||||||||
Balance December 31, 2006
|
920,007 | 920 | 23,922,240 | (108,889 | ) | (56,798 | ) | - | - | (635,500 | ) | (21,594,046 | ) | 1,527,927 | |||||||||||||||||
Shares issued for services at $5.40 – January 16, 2007
|
166 | - | 900 | - | - | - | - | - | - | 900 | |||||||||||||||||||||
Shares returned against promissory notes – April 25, 2007
|
(36,666 | ) | (37 | ) | (219,963 | ) | - | - | - | 220,000 | - | - | |||||||||||||||||||
Shares issued for stock options at $6.00 – April 26, 2007
|
13,333 | 13 | 79,987 | - | - | (30,000 | ) | - | - | 50,000 | |||||||||||||||||||||
Shares issued for stock options at $6.00 – June 5, 2007
|
3,333 | 3 | 19,997 | - | - | (20,000 | ) | - | - | - | |||||||||||||||||||||
Shares issued for services at $ 4.80 – June 12, 2007
|
6,667 | 7 | 31,993 | - | - | - | - | - | 32,000 | ||||||||||||||||||||||
Shares returned against promissory notes – June 19, 2007
|
(41,666 | ) | (42 | ) | (249,958 | ) | - | - | - | 250,000 | - | - | |||||||||||||||||||
Shares issued for stock options at $6.00 - July 15, 2007
|
833 | 1 | 4,999 | - | 5,000 | ||||||||||||||||||||||||||
Shares returned against promissory notes – August 15, 2007
|
(6,666 | ) | (7 | ) | (39,993 | ) | 40,000 | - | |||||||||||||||||||||||
Shares issued for services at $4.80 – August 15, 2007
|
6,666 | 7 | 31,993 | - | (32,000 | ) | - | - | - | - | |||||||||||||||||||||
Shares issued for stock options at $4.20 – September 21, 2007
|
1,667 | 1 | 6,999 | - | - | - | - | - | 7,000 | ||||||||||||||||||||||
Shares issued for stock options at $4.20 – September 26, 2007
|
2,083 | 2 | 8,748 | - | - | - | - | - | 8,750 | ||||||||||||||||||||||
Shares issued for stock options at $3.40 – October 30, 2007
|
5,000 | 5 | 16,995 | 17,000 | |||||||||||||||||||||||||||
Shares issued for stock options at $3.40 – November 1, 2007
|
10,000 | 10 | 33,990 | 34,000 | |||||||||||||||||||||||||||
Shares issued for stock options at $3.40 – December 20, 2007
|
8,000 | 8 | 27,192 | (25,500 | ) | 1,700 | |||||||||||||||||||||||||
Shares cancelled - December 31, 2007
|
(8,333 | ) | (8 | ) | 8 | - | |||||||||||||||||||||||||
Shares cancelled - December 31, 2007
|
(8,333 | ) | (8 | ) | (49,992 | ) | 50,000 | - | |||||||||||||||||||||||
Shares returned and cancelled - December 31, 2007
|
(7,500 | ) | (7 | ) | (25,493 | ) | 25,500 | - | |||||||||||||||||||||||
Share reconciliation
|
50 | - | - | - | |||||||||||||||||||||||||||
Stock based compensation
|
52,149 | 52,149 | |||||||||||||||||||||||||||||
Settlement of promissory notes including interest
|
125,500 | 125,500 | |||||||||||||||||||||||||||||
Deferred compensation expense recorded in the year
|
39,798 | 39,798 | |||||||||||||||||||||||||||||
Unrealized gains on available for sale securities
|
614,942 | 614,942 | |||||||||||||||||||||||||||||
Net loss for the year ended December 31, 2007
|
- | - | - | - | - | - | - | (593,789 | ) | (593,789 | ) | ||||||||||||||||||||
Balance December 31, 2007
|
868,641 | $ | 868 | $ | 23,652,791 | $ | 506,053 | $ | (49,000 | ) | $ | - | $ | - | $ | - | $ | (22,187,835 | ) | $ | 1,922,877 |
Number
Of
|
Additional
Paid In
|
Accumulated
Other
Comprehensive
Income
|
Deferred
|
Treasury
|
Promissory
Notes
|
Deficit
Accumulated
During
The Exploration
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Capital
|
(Loss)
|
Compensation
|
Subscriptions
|
Stock
|
Receivable
|
Stage
|
Total
|
Shares issued for stock options at $2.60 – January 4, 2008
|
10,000 | 10 | 25,990 | 26,000 | |||||||||||||||||||||||||||
Shares issued for services at $2.20 – February 27, 2008
|
2,500 | 2 | 5,498 | 5,500 | |||||||||||||||||||||||||||
Shares issued for stock options at $2.00 – July 18, 2008
|
10,965 | 11 | 21,919 | 21,930 | |||||||||||||||||||||||||||
Shares issued for services at $2.20 – September 12, 2008
|
1,250 | 1 | 1,749 | 1,750 | |||||||||||||||||||||||||||
Stock based compensation
|
16,579 | 16,579 | |||||||||||||||||||||||||||||
Deferred compensation expense recorded in the year
|
32,000 | 32,000 | |||||||||||||||||||||||||||||
Unrealized gains on available for sale securities
|
340,936 | 340,936 | |||||||||||||||||||||||||||||
Net loss for the year ended December 31, 2008
|
- | - | - | - | - | - | - | (1,871,917 | ) | (1,871,917 | ) | ||||||||||||||||||||
Balance December 31, 2008
|
893,356 | 892 | $ | 23,724,526 | $ | 846,989 | $ | (17,000 | ) | $ | - | $ | - | $ | - | $ | (24,059,752 | ) | $ | 495,655 | |||||||||||
Shares issued for cash at $1.40 -April 9, 2009
|
10,000 | 10 | 13,990 | 14,000 | |||||||||||||||||||||||||||
Shares issued for cash at $2.00 -April 9, 2009
|
12,500 | 12 | 24,988 | 25,000 | |||||||||||||||||||||||||||
Shares issued for cash at $2.00 -April 27, 2009
|
2,500 | 3 | 4,997 | 5,000 | |||||||||||||||||||||||||||
Shares issued hydroponic vertical farming design valued at $0.03 - June 9,2009
|
175,000 | 175 | 104,825 | 105,000 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.60 – July 21, 2009
|
25,000 | 25 | 14,975 | 15,000 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.60 – August 7, 2009
|
100,000 | 100 | 59,900 | 60,000 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.60 – August 10, 2009
|
750 | 1 | 449 | 450 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.60 – August 25, 2009
|
50,500 | 51 | 30,249 | 30,300 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.60 – September 1, 2009
|
3,250 | 3 | 1,947 | 1,950 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0 60 – September 8, 2009
|
25,000 | 25 | 14,975 | 15,000 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.60 – September 14, 2009
|
14,150 | 14 | 8,476 | 8,490 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.60 – September 17, 2009
|
5,000 | 5 | 2,995 | 3,000 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.60 – September 23, 2009
|
147,500 | 148 | 88,352 | 88,500 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.60 – October 22, 2009
|
45,000 | 45 | 26,955 | 27,000 | |||||||||||||||||||||||||||
Shares issued for deferred compensation at $ 0.31 – November 18, 2009
|
25,000 | 25 | 7,575 | (7,600 | ) | - | |||||||||||||||||||||||||
Shares issued for stock options at $ 0.40 – December 16, 2009
|
8,750 | 9 | 3,491 | 3,500 | |||||||||||||||||||||||||||
Deferred compensation expense
|
8,844 | 8,844 | |||||||||||||||||||||||||||||
Unrealized losses on available for sale securities
|
(795,927 | ) | (795,927 | ) | |||||||||||||||||||||||||||
Net loss
|
(420,380 | ) | (420,380 | ) | |||||||||||||||||||||||||||
Balance, December 31, 2009
|
1,543,256 | 1,543 | 24,134,639 | 51,062 | (15,756 | ) | - | - | - | (24,480,132 | ) | (308,644 | ) | ||||||||||||||||||
Shares issued for stock options at $ 0.20 – January 25, 2010
|
40,250 | 40 | 8,010 | 8,050 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.20 – March 9, 2010
|
15,000 | 15 | 2,985 | 3,000 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.20 – March 23, 2010
|
5,000 | 5 | 995 | 1,000 | |||||||||||||||||||||||||||
Shares issued for stock options at $ 0.20 – April 15, 2010
|
50,000 | 50 | 9,950 | 10,000 | |||||||||||||||||||||||||||
Shares issued for deferred compensation at $ 0.10 – May 26, 2010
|
50,000 | 50 | 4,950 | (5,000 | ) | 0 | |||||||||||||||||||||||||
Shares issued for stock options at $0.06 - October 27, 2010
|
20,000 | 20 | 1,180 | 1,200 | |||||||||||||||||||||||||||
Shares issued for stock options at $0.05 - November 24, 2010
|
337,802 | 338 | 14,525 | 14,863 | |||||||||||||||||||||||||||
Shares issued for debt to related parties at $0.20- December 9, 2010
|
35,015 | 35 | 6,968 | 7,003 | |||||||||||||||||||||||||||
Deferred compensation expense
|
14,628 | 14,628 | |||||||||||||||||||||||||||||
Unrealized gains on available for sale securities
|
46,795 | 46,795 | |||||||||||||||||||||||||||||
Write down of securities
|
(91,682 | ) | (91,682 | ) | |||||||||||||||||||||||||||
Net loss
|
(217,210 | ) | (217,210 | ) | |||||||||||||||||||||||||||
Balance, December 31, 2010
|
2,096,323 | 2,096 | 24,184,202 | 6,174 | (6,128 | ) | - | - | - | (24,697,342 | ) | (510,998 | ) |
Number
Of
|
Additional
Paid In
|
Accumulated
Other
Comprehensive
Income
|
Deferred
|
Treasury
|
Promissory
Notes
|
Deficit
Accumulated
During
The Exploration
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Capital
|
(Loss)
|
Compensation
|
Subscriptions
|
Stock
|
Receivable
|
Stage
|
Total
|
Shares issued for services at $0.10 - January 13, 2011
|
1,250 | 1 | 124 | 125 | |||||||||||||||||||||||||||
Shares issued for debt to related parties at $0.40 - April 1, 2011
|
82,500 | 83 | 32,917 | 33,000 | |||||||||||||||||||||||||||
Shares issued for services at $0.20 - April 18, 2011
|
34,750 | 35 | 6,915 | 6,950 | |||||||||||||||||||||||||||
Shares issued for deferred compensation at $ 0.30 – July 7, 2011
|
325,000 | 325 | 97,175 | (97,500 | ) | 0 | |||||||||||||||||||||||||
Shares issued for debt to related parties at $0.24 - August 2, 2011
|
70,000 | 70 | 16,730 | 16,800 | |||||||||||||||||||||||||||
Shares issued for debt to related parties at $0.24 - August 15, 2011
|
90,000 | 90 | 21,510 | 21,600 | |||||||||||||||||||||||||||
Shares issued for debt to related parties at $0.24 - August 19, 2011
|
75,000 | 75 | 17,925 | 18,000 | |||||||||||||||||||||||||||
Shares issued for debt to related parties at $0.24 - September 12, 2011
|
35,000 | 35 | 8,365 | 8,400 | |||||||||||||||||||||||||||
Shares issued for deferred compensation at $ 0.30 - December 1, 2011
|
22,500 | 22 | 1,778 | (1,800 | ) | 0 | |||||||||||||||||||||||||
Shares issued for debt to related parties at $0.06 - December 29, 2011
|
220,000 | 220 | 12,980 | 13,200 | |||||||||||||||||||||||||||
Deferred compensation expense
|
42,838 | 42,838 | |||||||||||||||||||||||||||||
Unrealized gains on available for sale securities
|
53,193 | 53,193 | |||||||||||||||||||||||||||||
Write down of securities
|
(54,378 | ) | (54,378 | ) | |||||||||||||||||||||||||||
Net loss
|
(202,130 | ) | (202,130 | ) | |||||||||||||||||||||||||||
Balance, December 30, 2011
|
3,052,323 | 3,052 | 24,400,621 | 4,989 | (62,590 | ) | (24,899,472 | ) | (553,400 | ) | |||||||||||||||||||||
Shares issued for deferred compensation at $ 0.0221 – September 14, 2012
|
4,500,000 | 4,500 | 94,950 | (99,450 | ) | 0 | |||||||||||||||||||||||||
Shares issued for license - water harvester units at $0.013 - December 6, 2012
|
120,000,000 | 120,000 | 1,372,743 | 1,492,743 | |||||||||||||||||||||||||||
Shares issued for debt to related parties($145,000) & cash ($50,000) at $0.013 - December 11, 2012
|
15,000,000 | 15,000 | 180,000 | 195,000 | |||||||||||||||||||||||||||
Shares issued for debt to related parties - December 13, 2012
|
4,000,000 | 4,000 | 48,000 | 52,000 | |||||||||||||||||||||||||||
Shares issued for cash at $.08 - December 13, 2012
|
625,000 | 625 | 49,375 | 50,000 | |||||||||||||||||||||||||||
Shares to be issued
|
93,000 | 93,000 | |||||||||||||||||||||||||||||
Share subsriptions receivable - 800,000 shares at $0.10
|
(80,000 | ) | (80,000 | ) | |||||||||||||||||||||||||||
Stock Based Compensastion
|
70,000 | 70,000 | |||||||||||||||||||||||||||||
Deferred compensation expense
|
77,880 | 77,880 | |||||||||||||||||||||||||||||
Unrealized (loss) gains on available for sale securities
|
(3,089 | ) | (3,089 | ) | |||||||||||||||||||||||||||
Net loss
|
(302,218 | ) | (302,218 | ) | |||||||||||||||||||||||||||
Share reconciliation and rounding after 1:20 reverse split June 7, 2012
|
1,207 | 1 | (975 | ) | (974 | ) | |||||||||||||||||||||||||
Balance, December 31, 2012
|
147,178,530 | 147,178 | 26,214,714 | 1,900 | (84,160 | ) | 13,000 | (25,201,690 | ) | 1,090,942 | |||||||||||||||||||||
Shares issued for cash at $.08 - January 16, 2013
|
62,500 | 63 | 4,937 | (5,000 | ) | 0 | |||||||||||||||||||||||||
Shares issued for cash at $.10 - January 16, 2013
|
800,000 | 800 | 79,200 | 80,000 | |||||||||||||||||||||||||||
Shares issued for services at $0.10 - January 16, 2013
|
80,000 | 80 | 7,920 | (8,000 | ) | 0 | |||||||||||||||||||||||||
Shares issued for cash at $.10 - April 23, 2013
|
150,000 | 150 | 14,850 | 15,000 | |||||||||||||||||||||||||||
Shares issued for stock options at $0.013 - June 10, 2013
|
4,000,000 | 4,000 | 48,000 | 52,000 | |||||||||||||||||||||||||||
Shares issued for cash at $.10 - July 17, 2013
|
40,000 | 40 | 9,960 | 10,000 | |||||||||||||||||||||||||||
Shares issued for cash at $.10 - July 23, 2013
|
35,000 | 35 | 10,465 | 10,500 | |||||||||||||||||||||||||||
Shares issued for services at $0.10 - August 13, 2013
|
10,000 | 10 | 2,990 | 3,000 | |||||||||||||||||||||||||||
Shares issued for cash at $.17 - December 11, 2013
|
120,000 | 120 | 20,080 | 20,200 | |||||||||||||||||||||||||||
Shares to be cancelled - 90,400,000 issued at $0.013.
|
(1,175,200 | ) | (1,175,200 | ) | |||||||||||||||||||||||||||
Deferred compensation expense
|
57,228 | 57,228 | |||||||||||||||||||||||||||||
Unrealized (loss) gains on available for sale securities
|
33,766 | 33,766 | |||||||||||||||||||||||||||||
Net loss
|
(489,019 | ) | (489,019 | ) | |||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||
Balance, December 31, 2013
|
$ | 152,476,030 | $ | 152,476 | $ | 26,413,116 | $ | 35,666 | $ | (26,932 | ) | $ | 0 | $ | (1,175,200 | ) | $ | - | $ | (25,690,709 | ) | $ | (291,583 | ) |
Year Ended
December 31,
2013
|
Year Ended
December 31,
2012
|
January 1,1996
the inception of development
stage to
December 31,
2013
|
||||||||||
Net loss for the year
|
$ | (489,019 | ) | $ | (302,218 | ) | $ | (21,230,076 | ) | |||
Adjustments to reconcile net loss to net cash from operating activities:
|
||||||||||||
- amortization
|
82,930 | - | 82,930 | |||||||||
- fees and services paid for with common shares
|
60,228 | 85,880 | 3,637,746 | |||||||||
- non cash research and development
|
- | - | 105,000 | |||||||||
- other stock based compensation
|
- | 70,000 | 1,989,468 | |||||||||
- interest paid for with common shares
|
- | - | 80,872 | |||||||||
- loss on settlement of debt
|
- | - | 718,784 | |||||||||
- software development costs paid for with common shares
|
- | - | 600,000 | |||||||||
- non cash exploration costs
|
- | - | 110,000 | |||||||||
- write-down of interest in oil and gas properties
|
- | - | 2,970,722 | |||||||||
- write-down of equities in Legacy Platinum Group Inc.
|
- | - | 258,580 | |||||||||
- write-down of equities in Golden Star Enterprises Ltd.
|
- | - | 15,768 | |||||||||
- write-down of interest in ACGT Corporation
|
- | - | 2,250,937 | |||||||||
- loss on Iceberg Drive Inn investment
|
- | - | 85,000 | |||||||||
- (gain)/loss on securities held for resale
|
- | - | (21,816 | ) | ||||||||
- non cash option income received in shares
|
- | - | (130,000 | ) | ||||||||
- interest accrued on promissory notes receivable
|
- | - | (63,136 | ) | ||||||||
- other non-cash expenses
|
- | - | 2,557,382 | |||||||||
- net changes in working capital items
|
(13,935 | ) | (68,953 | ) | 242,366 | |||||||
CASH FLOWS USED IN OPERATING ACTIVITIES
|
(359,796 | ) | (215,291 | ) | (5,739,473 | ) | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||||||
Interest received on promissory notes
|
- | - | 63,136 | |||||||||
Investment in Iceberg Acquisition Corporation
|
- | - | (120,000 | ) | ||||||||
Proceeds from sale of securities – related party
|
- | - | 136,790 | |||||||||
Interest in oil and gas properties – net of finders fees
|
- | - | (1,522,804 | ) | ||||||||
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES
|
- | - | (1,442,878 | ) | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||||||
Net proceeds on sale of common stock
|
187,700 | 105,000 | 5,391,025 | |||||||||
Net advances (to) from related parties
|
99,521 | 196,982 | 1,385,532 | |||||||||
Advances receivable
|
- | 420,000 | ||||||||||
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES
|
287,221 | 302,802 | 7,196,557 | |||||||||
INCREASE (DECREASE) IN CASH
|
(72,575 | ) | 86,691 | 14,206 | ||||||||
CASH, BEGINNING OF YEAR
|
86,781 | 90 | - | |||||||||
CASH, END OF YEAR
|
$ | 14,206 | $ | 86,781 | $ | 14,206 |
For the years ended
December 31,
|
For the period from January 1,
1996 to
December 31,
|
|||||||||||
2013
|
2012
|
2013
|
||||||||||
NET LOSS
|
$ | (489,019 | ) | $ | (302,218 | ) | $ | (21,230,076 | ) | |||
Unrealized gains on related party securities
|
33,766 | (3,089 | ) | 35,666 | ||||||||
TOTAL OTHER COMPREHENSIVE INCOME
(LOSS), net of tax
|
33,766 | (3,089 | ) | 35,666 | ||||||||
COMPRHENSIVE (LOSS)
|
$ | ( 455,253 | ) | $ | (305,307 | ) | $ | (21,194,410 | ) |
Fair Value Measurements
|
||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total Fair Value
|
|||||||||||||
Assets
|
||||||||||||||||
Cash
|
$ | 14,206 | $ | - | $ | - | $ | 14,206 | ||||||||
Taxes recoverable
|
- | - | ||||||||||||||
Accounts Receivable
|
- | - | - | - | ||||||||||||
Available securities
|
36,795 | - | - | 36,795 | ||||||||||||
Prepaid Expenses
|
23,400 | 23,400 | ||||||||||||||
Intangible Assets
|
- | - | 234,613 | 234,613 | ||||||||||||
Total
|
$ | 74,401 | $ | - | $ | 234,613 | $ | 309,014 | ||||||||
Liabilities
|
||||||||||||||||
Current and related party
|
$ | 555,064 | $ | - | $ | - | $ | 555,064 | ||||||||
Total
|
$ | 555,064 | $ | - | $ | - | $ | 555,064 |
December 31,
|
December 31,
|
|||||||
2013
|
2012
|
|||||||
408,402 (2012-408,402) shares of Legacy Platinum Group Inc.
|
$ | 36,763 | $ | 2,941 | ||||
2,465 (2012- 2,465) shares of Golden Star Enterprises Ltd.
|
32 | 89 | ||||||
$ | 36,795 | $ | 3,030 |
|
December 31,
|
December 31,
|
||||||
Description |
2013
|
2012
|
||||||
18 year general license to manufacture and distribute water units
|
$ | 1,560,000 | $ | 1,560,000 | ||||
Less: related party portion of consideration for license
|
(67,257 | ) | (67,257 | ) | ||||
Less: accumulated amortization
|
(82,930 | ) | - | |||||
Balance
|
$ | 1,409,813 | $ | 1,492,743 | ||||
Less: effect of 2014 cancellation of partial consideration for license
|
(1,175,200 | ) | - | |||||
Adjusted Balance
|
$ | 234,613 | $ | 1,492,743 |
(a)
|
The Company issued 80,000 restricted common shares valued at $8,000 to a consultant services earned in 2012.
|
(b)
|
The Company issued 800,000 restricted common shares for cash in the amount of $80,000 pursuant to private placement subscription agreements.
|
(c)
|
The Company issued 62,500 restricted common shares for cash received in 2012 in the amount of $5,000 pursuant to a private placement subscription agreement.
|
(d)
|
The Company issued 225,000 restricted common shares for cash in the amount of $35,000 pursuant to three private placement subscription agreements.
|
(e)
|
The Company issued 4,000,000 common shares for cash in the amount of $52,000 pursuant to the exercise of incentive stock options in accordance with the 2012 Stock Option Plan.
|
(f)
|
The Company issued 10,000 restricted common shares valued at $3,000 to a consultant for his services.
|
(g)
|
The Company issued 120,000 restricted common shares for cash in the amount of $20,200 pursuant to private placement subscription agreements.
|
(a)
|
The Company issued 4,500,000 restricted common shares valued at $99,450 pursuant to deferred compensation agreements.
|
(b)
|
The Company issued 120,000,000 restricted common shares valued at $1,492,743 pursuant to the exclusive licensing agreement acquiring the manufacturing and distribution rights for the air to water harvester units.
|
(c)
|
The Company issued a total of 19,000,000 common shares pursuant to the exercise of options under the Company’s 2012 Stock Incentive and Option Plan. These shares were issued at $0.013 per share for cash in the amount of $50,000 and to satisfy debt to related parties in the amount of $197,000.
|
(d)
|
The Company issued 625,000 restricted common shares for cash in the amount of $50,000 pursuant to a private placement subscription agreement. The Company received an additional $5,000 pursuant to a private placement subscription agreement and issued the 62,500 restricted common shares to the subscriber subsequent to year end.
|
Number
of options
|
Weighted Average Exercise Price
|
Weighted Average Remaining Contractual Life
(in years)
|
||||||||||
Balance, December 31, 2011
|
- | - | - | |||||||||
Granted during 2012
|
26,000,000 | 0.013 | 5.00 | |||||||||
Exercised during 2012
|
(19,000,000 | ) | 0.013 | |||||||||
Balance, December 31, 2012
|
7,000,000 | 0.013 | 5.00 | |||||||||
Granted during the period
|
- | - | - | |||||||||
Exercised during the period
|
(4,000,000 | ) | - | - | ||||||||
Balance December 31,2013
|
3,000,000 | 0.013 | 5.00 |
Number
of options
|
Weighted Average Exercise Price
|
Weighted Average Remaining Contractual Life
(in years)
|
||||||||||
Balance, December 31, 2011
|
- | - | - | |||||||||
Granted during 2012
|
26,000,000 | 0.013 | 5.00 | |||||||||
Exercised during 2012
|
(19,000,000 | ) | 0.013 | - | ||||||||
Balance, December 31, 2012
|
7,000,000 | 0.013 | 5.00 |
Expected dividend yield
|
0 | % | ||
Risk-free interest rate
|
4.99 | % | ||
Expected volatility
|
164.35 | % | ||
Expected option life (in years)
|
1 |
December 31,
2013
|
December 31,
2012
|
|||||||
Significant shareholders
|
$ | 56,129 | $ | 2,142 |
December 31,
2013
|
December 31,
2012
|
|||||||
Cash paid during the year for:
|
||||||||
Interest
|
$ | 45,533 | $ | - | ||||
Income taxes
|
$ | - | $ | - |
(a)
|
The Company issued 80,000 restricted common shares valued at $8,000 to a consultant services earned in 2012.
|
(b)
|
The Company issued 800,000 restricted common shares for cash in the amount of $80,000 pursuant to private placement subscription agreements.
|
(c)
|
The Company issued 62,500 restricted common shares for cash received in 2012 in the amount of $5,000 pursuant to a private placement subscription agreement.
|
(d)
|
The Company issued 225,000 restricted common shares for cash in the amount of $35,000 pursuant to three private placement subscription agreements.
|
(e)
|
The Company issued 4,000,000 common shares for cash in the amount of $52,000 pursuant to the exercise of incentive stock options in accordance with the 2012 Stock Option Plan.
|
(f)
|
The Company issued 10,000 restricted common shares valued at $3,000 to a consultant for his services.
|
(g)
|
The Company issued 120,000 restricted common shares for cash in the amount of $20,200 pursuant to private placement subscription agreements.
|
(a)
|
4,500,000 restricted common shares valued at $99,450 pursuant to deferred compensation agreements. (See Note 5)
|
(b)
|
120,000,000 restricted common shares valued at $1,492,743 pursuant to the exclusive licensing agreement acquiringthe manufacturing and distribution rights for the air to water harvester units. (See Note 4)
|
(c)
|
19,000,000 common shares pursuant to the exercise of options under the Company’s 2012 Stock Incentive
and
Option Plan. These shares were issued at $0.013 per share for cash in the amount of $50,000 and to satisfy debt to related parties in the amount of $197,000.
|
(d)
|
625,000 restricted common shares valued at $50,000 pursuant to a private placement subscription agreement.
|
(e)
|
An additional $5,000 pursuant to a private placement subscription agreement and issued the 62,500 restricted common shares to the subscriber subsequent to year end.
|
Payments
|
2013
|
2014
|
2015
|
TOTAL
|
||||||||||||
Office Rent
|
$ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 90,000 |
December 31,
2013
|
December 31,
2012
|
|||||||
Federal income tax provision at statutory rate
|
(35.00 | )% | (35.00 | )% | ||||
State income tax provision at statutory rate, net of federal income tax effect
|
(0.00 | ) | (0.00 | ) | ||||
Total income tax provision rate
|
(35.00 | )% | (35.00 | )% |
December 31,
2013
|
December 31,
2012
|
|||||||
Loss before income taxes
|
$ | (489,019 | ) | $ | (302,218 | ) | ||
Corporate tax rate
|
35.00 | % | 35.00 | % | ||||
Expected tax expense (recovery)
|
(171,157 | ) | (105,776 | ) | ||||
Non-deductible stock based compensation
|
- | - | ||||||
Unrecognized loss carry forward and other
|
- | - | ||||||
Income tax provision
|
$ | - | $ | - |
2013
|
2012
|
|||||||
Non-capital loss carry forwards
|
$ | 8,167,000 | $ | 8,167,000 | ||||
Valuation allowance
|
(8,167,000 | ) | (8,167,000 | ) | ||||
Net deferred tax asset
|
$ | - | $ | - |
Name and Address | Age | Position | Date of Appointment | |||
Jaclyn Cruz | 30 | President & Director & CEO | November 18, 2008 | |||
Matt Kelly | 30 | Secretary, Treasurer & Director & CFO | February 1, 2012 |
Name and Principal Position |
Year
|
Salary
(US$)
|
Bonus
(US$)
|
Stock Awards
(US$)
|
Option Awards
(US$)
|
Non-Equity Incentive Plan Compensation
(US$)
|
Nonqualified Deferred Compensation Earnings
(US$)
|
All Other Compensation
(US$)
|
Total
(US
$)
|
|||||||||||||||||||||||||
Jaclyn Cruz |
2010
|
500 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||
President |
2011
|
4,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||
2012
|
3,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||
2013
|
15,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||
Matt Kelly |
2012
|
1,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||
Secretary |
2013
|
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||
Sharon Deutsch |
2011
|
1,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||
Director** |
2012
|
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Name of Title of Class | Amount & Nature of Beneficial Owner | Percent of Class Beneficial Owner | Common Stock | |||||||
Jaclyn Cruz | P.O. Box 63 | 25,000 | 0.0006 | % | ||||||
President/Director/CEO | Farmingville, New York | |||||||||
11738 | ||||||||||
Sharon Deutsch | 35 South Ocean Ave. | - | 0.00 | % | ||||||
Secretary /Director /CFO | Patchogue, New York | |||||||||
(resigned February 1, 2012) | 11772 | |||||||||
Matt Kelly | 123 Van Horne Ave. | - | 0.00 | % | ||||||
Secretary /Director /CFO | Holbrook, New York | |||||||||
(appointed February 1, 2012) | 11741 | |||||||||
All directors and Officers as a group | 25,000 | 0.001 | % |
December 31,
2013
|
December 31,
2012
|
|||||||
Significant shareholders
|
$ | 56,129 | $ | 2,142 |
2012: | $21,600 |
2013: | $21,600 |
2012: | $0 |
2013: | $0 |
2012: | $0 |
2013: | $0 |
2012: | $0 |
2013: | $0 |
Exhibit 31.1 | Section 906 Certification of Periodic Report of the Chief Executive Officer. |
Exhibit 31.2 | Section 906 Certification of Periodic Report of the Chief Financial Officer. |
Exhibit 32.1 | Section 302 Certification of Periodic Report of the Chief Executive Officer. |
Exhibit 32.1 | Section 302 Certification of Periodic Report of the Chief Financial Officer. |
101.INS **
|
XBRL Instance Document
|
101.SCH **
|
XBRL Taxonomy Extension Schema Document
|
101.CAL **
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
101.DEF **
|
XBRL Taxonomy Extension Definition Linkbase Document
|
101.LAB **
|
XBRL Taxonomy Extension Label Linkbase Document
|
101.PRE **
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
BRAVO ENTERPRISES LTD | |||
Date: April 15, 2014
|
By:
|
/s/ Jaclyn Cruz | |
Jaclyn Cruz |
Date: April 15, 2014
|
By:
|
/s/ Jaclyn Cruz | |
Jaclyn Cruz | |||
Director and President |
Date: April 15, 2014
|
By:
|
/s/ Matt Kelly | |
Matt Kelly | |||
Secretary and Treasury |
1 Year Bravo Enterprises (CE) Chart |
1 Month Bravo Enterprises (CE) Chart |
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