Looks like more massive dilution. see below from MD&A
"The Company expects to begin another equity financing soon after the Relief Offering is completed. The net proceeds will be used to carry out the exploration work on Mt. Anderson that was planned for the summer of 2012, but delayed due to shortage of funds.
The funds will be used for further exploration on Mt. Anderson, as discussed above and for general working capital purposes. Since the Company does not yet generate production revenue, cash is generated from limited sources, and common shares, warrants, or stock options are non-cash based alternatives that can be provided to directors, officers, employees, and consultants of the Company."
Good luck finding a competant CEO on that basis and if you do these are the type of policies that encourages pump and dump mentalities. No salaries but wink wink wink.
Cash on hand end of period $20,167. Accounts payable and owed to related parties $567,718 means we are more than broke.