Quarterly report pursuant to sections 13 or 15(d)

MARKETABLE SECURITIES (Details Narrative)

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MARKETABLE SECURITIES (Details Narrative) (USD $)
5 Months Ended 9 Months Ended 17 Months Ended 0 Months Ended 1 Months Ended
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2012
Mar. 19, 2012
California Gold Corp.
Mar. 31, 2012
California Gold Corp.
Geological Review Agreement fee       $ 125,000  
Description of payment terms      

 


In consideration for delivery of the Report, California Gold agreed to pay the Company $125,000, which payment may, at the election of California Gold, be paid in cash or in unregistered shares of California Gold common stock, par value $0.001 per share (the “California Gold Common Stock”), issued by California Gold.  In the event that California Gold elects to deliver the California Gold Common Stock, it shall deliver such number of shares of California Gold Common Stock that shall be equal to the number which results from dividing $125,000 by the lesser of: (i) the closing price of a share of the California Gold Common Stock as quoted on the Over the Counter Bulletin Board on March 19, 2012 or (ii) the purchase price per share of California Gold Common Stock paid by investors in California Gold sold in California Gold’s next financing, if any, on or before March 30, 2012.

 
Shares issued in settlement of payment to Company         1,250,000
Shares issued in settlement of payment to Company, per share price         $ 0.10
Non-cash other income    (125,000) (125,000)    
Gross Unrealized Losses   $ (112,500) $ (112,500)