Quarterly report pursuant to sections 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v2.4.0.6
DISCONTINUED OPERATIONS (Tables)
9 Months Ended
Sep. 30, 2012
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations Balance Sheet and Income Statement
The carrying amounts of the major classes of these assets and liabilities are summarized as follows:
 
   
September 30,
2012
   
December 31,
2011
 
Assets:
           
Prepaid expenses – current portion
 
$
-
   
$
20,000
 
Deposits
   
-
     
3,500
 
Assets of discontinued operations
 
$
-
   
$
23,500
 
                 
Liabilities:
               
Accounts payables and accrued expenses
 
$
30,664
   
$
-
 
Liabilities of discontinued operations
 
$
30,664
   
$
-
 
 
The following table indicates selected financial data of the Company’s discontinued operations of its uranium and vanadium minerals business.
 
   
For the Nine Months September 30, 2012
   
Period from inception
(April 30, 2011) to
September 30, 2011
 
Revenues
 
$
-
   
$
-
 
Cost of sales
   
-
     
-
 
Gross profit
   
-
     
-
 
Operating and other non-operating expenses
   
(1,426,846
)
   
-
 
                 
Loss from discontinued operations
 
$
(1,426,846
)
 
$
-