Big Bear Mining Corp.

CIK:0001354213|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended		81 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011
Consolidated Statements Of Operations
REVENUES
Operating Expenses:
General and administrative	314,031	276,589	645,888
Consulting and management	489,107	775,076	1,264,183
Mineral exploration	381,839	940,673	1,323,512
Impairment of mining property	163,400		163,400
Total Expenses	1,348,377	1,992,338	3,396,983
LOSS FROM OPERATIONS	(1,348,377)	(1,992,338)	(3,396,983)
OTHER INCOME (EXPENSE)
Interest income	40	823	863
Total Other Income (Expense)	40	823	863
NET LOSS	$ (1,348,337)	$ (1,991,515)	$ (3,396,120)
BASIC AND DILUTED NET LOSS PER SHARE	$ (0.02)	$ (0.02)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	89,560,086	99,424,027

CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)	12 Months Ended		81 Months Ended
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,348,337)	$ (1,991,515)	$ (3,396,120)
Adjustments to reconcile net loss to cash used by operating activities:
Depreciation	1,460	475	1,935
Stock issued for services	316,340	508,500	824,840
Impairment of mineral claims	163,400		163,400
Changes in operating assets and liabilities:
Restricted cash	54,200	(54,200)
Prepaid expenses	21,251	(26,981)	(5,730)
Accounts payable	23,970	(3,878)	32,382
Accounts payable - related party	43,628	109,438	153,066
Other liability		23,615	23,615
Net cash used by operating activities	(724,088)	(1,434,546)	(2,202,612)
CASH FLOWS USED IN INVESTING ACTIVITIES
Purchase of equipment		(2,920)	(2,920)
Purchase of mineral properties	(52,000)	(293,000)	(345,000)
Net cash used by investing activities	(52,000)	(295,920)	(347,920)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings	5,500		5,995
Common stock issued for cash less financing fees	550,000	1,950,000	2,544,800
Net cash provided by financing activities	555,500	1,950,000	2,550,795
NET CHANGE IN CASH	(220,588)	219,534	263
CASH, BEGINNING OF YEAR	220,851	1,317
CASH, END OF YEAR	263	220,851	263
SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid
Income taxes paid
NON-CASH INVESTING AND FINANCING ACTIVITIES
Common stock issued for acquisition of mineral property	140,400	245,000	385,400
Common stock issued for accounts payable	$ 7,009		$ 7,009

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2011	Dec. 31, 2010
Current assets:
Cash	$ 263	$ 220,851
Restricted cash		54,200
Prepaid expense	5,730	26,981
Total current assets	5,993	302,032
Property and equipment, net of depreciation	985	2,445
Mineral properties	567,000	538,000
Total assets	573,978	842,477
Current liabilities:
Accounts payable	25,373	8,412
Accounts payable - related party	153,561	109,933
Note payable - related party	5,500
Total current liabilities	184,434	118,345
Other liability	23,615	23,615
Total liabilities	208,049	141,960
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock, $0.001 par value, 300,000,000 shares authorized; 100,863,632 and 81,890,000, issued and outstanding, respectively	100,864	81,890
Additional paid-in-capital	3,661,185	2,666,410
Deficit accumulated during the exploration stage	(3,396,120)	(2,047,783)
Total stockholders' equity	365,929	700,517
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 573,978	$ 842,477