Quarterly report pursuant to sections 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) (USD $)
3 Months Ended 5 Months Ended 9 Months Ended 17 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2012
Dec. 31, 2011
Apr. 29, 2011
Net loss attributable to American Strategic Minerals Corporation $ (1,892,895) $ (3,990) $ (3,990) $ (6,439,273) $ (6,548,595)    
Net cash used in operating activities        (1,163,389) (1,192,737)    
Working Capital 1,700,000     1,700,000 1,700,000    
Accumulated deficit (6,548,595)     (6,548,595) (6,548,595) (109,322)  
Non-cash expenses       5,300,000      
Cash 1,525,799       1,525,799 1,525,799 129,152   
Excess Bank Balances Above FDIC Coverage 960,000     960,000 960,000    
Prepaid expenses 57,916     57,916 57,916     
Assets of discontinued operations - current portion              20,000  
Real estate held for sale 1,521,247     1,521,247 1,521,247     
Deposits in real estate under contract 85,660     85,660 85,660     
Deposits pursuant to non-binding agreements 150,000     150,000 150,000     
Impairment of mineral rights        $ 1,256,000 $ 1,355,474    
Warrants
             
[AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount]       1,500,000