EL CAPITAN PRECIOUS METALS INC

CIK:0001135202|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Sep. 30, 2017	Sep. 30, 2016
OPERATING EXPENSES:
Mine, exploration and pilot plant costs	$ 1,796,246	$ 2,232,191
Impairment of exploration property	1,607,608
Professional fees	16,597	210,896
Administrative consulting fees	350,000	240,000
Legal and accounting fees	139,486	216,028
Other general and administrative	151,132	260,337
Total Operating Expenses	4,061,069	3,159,452
LOSS FROM OPERATIONS	(4,061,069)	(3,159,452)
OTHER INCOME (EXPENSE):
Interest income	27	20
Net miscellaneous income (expense)	12,745	(350)
Loss on derivative instruments	(314,751)	(767,940)
Loss on debt extinguishment	(660,376)	(80,396)
Interest expense - related party	(5,400)	(4,438)
Interest expense	(189,690)	(495,181)
Total Other Income (Expense), Net	(1,157,445)	(1,348,285)
LOSS BEFORE PROVISION FOR INCOME TAXES	(5,218,514)	(4,507,737)
PROVISION FOR INCOME TAXES
NET LOSS	$ (5,218,514)	$ (4,507,737)
Basic and Diluted Per Share Data:
Net Loss Per Share - basic and diluted (in dollars per share)	$ (0.01)	$ (0.01)
Weighted Average Common Shares Outstanding:
Basic and diluted (in shares)	398,910,972	318,237,726

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (5,218,514)	$ (4,507,737)
Adjustments to reconcile net loss to net cash used in operating activities:
Warrant and option expense	5,388	31,206
Stock-based compensation	940,992	1,884,102
Amortization of debt discounts	148,523	407,182
Non-cash financing costs	375
Depreciation	86,101	66,596
Impairment of exploration property	1,607,608
Loss on debt extinguishment	660,376	80,396
Loss on derivative instruments	314,751	767,940
Gain on disposition of fixed asset		(352)
Net change in operating assets and liabilities:
Prepaid expenses and other current assets	151,052	9,200
Inventory	119,519
Accounts payable	4,843	(14,305)
Accrued compensation - related parties	72,700	380,000
Accrued liabilities	51,072	191,425
Net Cash Used in Operating Activities	(1,055,214)	(704,347)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment	(46,718)	(2,385)
Proceeds from asset disposition		6,937
Restricted cash	(5,357)	(5)
Net Cash Provided by (Used in) Investing Activities	(52,075)	4,547
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock	905,011	871,679
Proceeds from convertible notes payable, net of original issue discounts (2016)	200,000	321,800
Payments on notes payable	(150,000)	(215,000)
Payments on finance contracts	(63,925)	(53,453)
Net Cash Provided by Financing Activities	891,086	925,026
NET INCREASE/ (DECREASE) IN CASH	(216,203)	225,226
CASH, BEGINNING OF YEAR	296,619	71,393
CASH, END OF YEAR	80,416	296,619
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	8,705	57,145
Cash paid for income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Common stock issued with debt modification		4,858
Common stock issued on settlement of debt and accrued interest	256,028	307,982
Common stock issued for related party payables	500,000	151,161
Common stock issued for third party payables	316,943	321,178
Common stock issued for operation costs to pilot plant vendor	861,192
Common stock issued for inventory to pilot plant vendor	32,093	241,393
Common stock issued for fixed asset to pilot plant vendor	8,515
Common stock issued for prepayment of services		41,535
Common stock issued on conversion of notes payable and accrued interest	128,033	306,878
Purchase of fixed asset through finance contract	26,071
Purchase of insurance through financing contracts	52,452	61,157
Debt discount from derivative liabilities	200,000	259,898
Derivative allocation between liability and equity	(91,579)	1,027,838
Reclassification of accrued interest to note principal balance outstanding		5,940
Convertible debt issued for stock issuance cost		25,000
Fixed assets purchased on accounts payable		$ 60,612

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2017	Sep. 30, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 80,416	$ 296,619
Prepaid expense and other current assets	36,596	135,196
Inventory	165,040	252,466
Total Current Assets	282,052	684,281
Property and equipment, net of accumulated depreciation of $212,989 and $128,748, respectively	572,711	577,883
Exploration property	257,000	1,864,608
Restricted cash	79,861	74,504
Deposits	22,440	22,440
Total Assets	1,214,064	3,223,716
CURRENT LIABILITIES:
Accounts payable	228,922	224,079
Current portion of long-term debt	8,520
Notes payable, net of unamortized discounts of $0 and $1,769, respectively	452,261	857,219
Convertible note payable, net of unamortized discount of $73,246 and $0, respectively	23,438
Note payable, related party	30,000	30,000
Derivative instruments liability	606,330
Accrued compensation - related parties	72,700	500,000
Accrued liabilities	130,716	407,332
Total Current Liabilities	1,552,887	2,018,630
LONG-TERM LIABILITY:
Note payable, net of current portion	12,805
Total Liabilities	1,565,692	2,018,630
STOCKHOLDERS' EQUITY:
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 51 and 51 shares issued and outstanding, respectively
Common stock, $0.001 par value; 500,000,000 shares authorized; 430,433,547 and 366,254,777 shares issued and outstanding, respectively	430,434	366,255
Additional paid-in capital	216,463,060	212,865,439
Accumulated deficit	(217,245,122)	(212,026,608)
Total Stockholders' Equity (Deficit)	(351,628)	1,205,086
Total Liabilities and Stockholders' Equity (Deficit)	$ 1,214,064	$ 3,223,716