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 $)
2 Months Ended 3 Months Ended 6 Months Ended 14 Months Ended
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2012
Jun. 30, 2012
Dec. 31, 2011
Apr. 29, 2011
Net loss attributable to American Strategic Minerals Corporation $ (1,537) $ (1,586,499) $ (4,546,378) $ (4,655,700)    
Net cash used in operating activities      (655,775) (685,123)    
Working Capital   3,403,735 3,403,735 3,403,735    
Accumulated deficit   (4,655,700) (4,655,700) (4,655,700) (109,322)  
Non-cash expenses     3,834,585      
Cash    3,315,294 3,315,294 3,315,294 129,152   
Excess Bank Balances Above FDIC Coverage   3,060,000 3,060,000 3,060,000    
Prepaid expenses   75,000 75,000 75,000     
Assets of discontinued operations - current portion            20,000  
Real estate held for sale   $ 254,016 $ 254,016 $ 254,016     
Warrants
           
[AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount]     2,700,000