CIGMA METALS CORP

CIK:0001083410|SEC Filings

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended		285 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012
Expenses
Administrative and general	$ 16,251	$ 7,982	$ 38,323	$ 38,927	$ 987,523
Impairment of mineral properties	0	0	0	0	1,009,597
Interest, bank charges and foreign currency exchange (gains) losses	1,103	9,969	1,694	7,074	120,744
Professional fees	13,952	0	21,944	2,560	845,431
Property investigation costs	0	0	0	0	119,717
Management and consulting fees	18,780	9,110	48,606	48,445	2,158,515
Loss before other items	58,975	28,561	139,706	101,006	11,787,546
Other income (loss)
Writedown of available-for-sale securities	0	0	0	0	(148,180)
Writedown of investment in partnership interest	0	0	0	0	(190,601)
Gain (loss) on sale of assets	0	0	0	0	(12,342)
Gain (loss) on sale of available-for-sale securities	0	0	0	71,737	361,704
Gain (loss) on disposition of subsidiary	0	0	0	0	958,591
Interest income	0	1,413	0	7,364	265,359
Total other income (loss)	0	1,413	0	79,101	1,234,531
Net income (loss) before non-controlling interest	(58,975)	(27,148)	(139,706)	(21,905)	(10,553,015)
Non-controlling interest	0	0	0	0	130,739
Net income (loss) for the period	(58,975)	(27,148)	(139,706)	(21,905)	(10,422,276)
Basic and diluted income (loss) per share (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted average number of common shares outstanding (in shares)	54,945,652	54,500,000	54,650,183	54,500,000
HaldeyGold Project - partnership [Member]
Expenses
Exploration costs	0	0	0	0	796,261
HaldeyGold Project - other [Member]
Expenses
Exploration costs	0	0	0	0	185,126
Tugojakovsk Project [Member]
Expenses
Exploration costs	0	0	0	0	453,821
Kazakhstan [Member]
Expenses
Exploration costs	0	0	0	0	5,077,672
Mexico [Member]
Expenses
Exploration costs	$ 8,889	$ 1,500	$ 29,139	$ 4,000	$ 33,139

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended		285 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012
Cash flows used in operating activities
Net income (loss) for the period	$ (139,706)	$ (21,905)	$ (10,422,276)
Adjustments to reconcile net income (loss) to net cash used in operating activities
depreciation	0	0	51,626
stock compensation expense on stock option grants	0	0	366,844
accrued interest on notes receivable	0	(7,365)	(19,901)
issuance of common stock for mineral property rights	0	0	600
expenses satisfied with issuance of common stock	27,639	0	238,639
partnership exploration costs	0	0	1,125,711
writedown of investment in partnership interest	0	0	190,601
writedown of available for sale securities	0	0	148,180
realized gain on sale of available-for-sale investments	0	(71,737)	(361,704)
gain on disposition of subsidiary	0	0	(958,591)
impairment of mineral properties	0	0	1,009,597
minority interest in income (loss) of subsidiary	0	0	(130,739)
realized loss on sale of equipment	0	0	12,342
Changes in working capital assets and liabilities, net of disposal of subsidiary
decrease (increase) in trade and other receivables	0	0	(11,180)
decrease (increase) in prepaid expenses and other assets	(25,406)	(3,092)	(55,495)
increase (decrease) in accounts payables and accrued liabilities	10,695	(15,434)	261,693
increase (decrease) in accounts payables related party	0	0	44,788
increase (decrease) in deposit	0	0	0
Net cash used in operating activities	(126,778)	(119,533)	(8,509,265)
Cash provided by (used in) investing activities
collections on notes receivable	0	0	200,000
purchase equipment	0	0	(217,093)
proceeds from sale of equipment	0	0	35,717
proceeds from disposition of subsidiary, net of cash deposit	0	0	1,452,949
investment in available-for-sale securities	0	0	(337,342)
proceeds from disposition of marketable securities	0	82,887	422,132
investment in partnership interest	0	0	(1,316,312)
acquisition of mineral property costs	0	0	(2,550,000)
Net cash provided by (used in) investing activities	0	82,887	(2,309,949)
Cash flows from financing activities
issuance of common stock	200,000	0	10,370,001
loan proceeds	0	0	1,160,255
loan payments	0	0	(633,396)
Net cash provided by financing activities	200,000	0	10,896,860
Effect of exchange rate changes on cash and cash equivalents	0	0	67,223
Increase (decrease) in cash and cash equivalents	73,222	(36,646)	144,869
Cash and cash equivalents, beginning of period	71,647	223,334	0
Cash and cash equivalents, end of period	144,869	186,688	144,869
Supplement Disclosures of Cash Information:
Interest paid (net of amounts capitalized)	0	0
Income taxes paid	$ 0	$ 0

Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 30, 2012	Dec. 31, 2011
Current
Cash	$ 144,869	$ 71,647
Available-for-sale securities	41,476	40,426
Cost method investments	177,266	177,266
Prepaid expenses and other assets	31,006	5,600
Total current assets	394,617	294,939
Mineral properties	500,000	500,000
Total assets	894,617	794,939
Current liabilities
Accounts payable and accrued expenses	25,913	15,218
Accounts payable - related party	22,428	44,789
Total current liabilities	48,341	60,007
Stockholders' Equity
Authorized 100,000,000 common shares, par value $0.0001 Issued and outstanding: 59,500,000 (2011 - 54,500,000) common shares	5,950	5,450
Additional paid in capital	11,342,494	11,092,994
Accumulated deficit during the development stage	(10,422,276)	(10,282,570)
Accumulated other comprehensive income (loss)	(79,892)	(80,942)
Stockholders' equity	846,276	734,932
Total liabilities and stockholders' equity	$ 894,617	$ 794,939