Colorado Gold Mines, Inc.

CIK:0001518380|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Condensed Consolidated Statements Of Operations
Revenue
Operating expenses:
General and administrative	133,511	1,256,223	293,772	1,795,339
Impairment loss	0		333,000
Total operating expenses	133,511	1,256,223	626,772	1,795,339
Loss from operations	(133,511)	(1,256,223)	(626,772)	(1,795,339)
Other Income
Insurance claim income			300,000
Loss before income taxes	(133,511)	(1,256,223)	(326,772)	(1,795,339)
Provision for income taxes
Net loss	(133,511)	(1,256,223)	(326,772)	(1,795,339)
Deemed dividend on Series B convertible preferred stock		(1,397)		(1,397)
Net loss attributable to common stockholders	$ (133,511)	$ (1,257,620)	$ (326,772)	$ (1,796,736)
Net loss per common share: Basic and diluted	$ (0.01)	$ (0.10)	$ (0.02)	$ (0.14)
Weighted average common shares outstanding: Basic and diluted	18,681,321	12,532,916	18,672,581	12,532,916

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows From Operating Activities
Net loss	$ (326,772)	$ (1,795,339)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	32,010	1,753,500
Depreciation	104,182	7,788
Impairment	333,000
Changes in operating assets and liabilities:
Prepaid expenses	45,764
Accounts payable and accrued liabilities	14,485	(5,000)
Net cash provided by (used in) operating activities	202,669	(39,051)
Cash Flows From Investing Activities:
Purchase of thoroughbreds		(104,858)
Net cash used in investing activities		(104,858)
Cash Flows From Financing Activities
Common stock issued		595,000
Borrowings under due to related party		191,796
Repayments of due to related party		(95,930)
Net cash provided by financing activities		690,866
Net cash and cash equivalents increase for the period	202,669	546,957
Cash and cash equivalents at beginning of period	286,527
Cash and cash equivalents at end of period	489,196	546,957
Supplemental Cash Flow Information
Cash paid for income taxes
Cash paid for interest
Non-Cash Investing And Financing Activities
Series B Preferred shares issued to Company officer		1,000
Conversion of Series B Preferred stock into common stock		$ 1,400

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2017	Mar. 31, 2017
Current Assets
Cash and cash equivalents	$ 489,196	$ 286,527
Prepaid expense		45,764
Total Current Assets	489,196	332,291
Thoroughbreds, net	504,261	941,443
TOTAL ASSETS	993,457	1,273,734
Current Liabilities
Accounts payable and accrued liabilities	38,904	24,419
Note payable	5,871	5,871
Contingent liabilities	177,270	177,270
Total Current Liabilities	222,045	207,560
Total liabilities	222,045	207,560
Stockholders’ Equity (Deficit):
Common stock, $0.0001 par value, 500,000,000 shares authorized; 18,681,321 and 18,581,321 shares issued and outstanding at September 30, 2017 and March 31, 2017, respectively	1,868	1,858
Additional paid-in capital	19,735,207	19,703,207
Accumulated deficit	(18,967,460)	(18,640,688)
Total Stockholders' Equity	771,412	1,066,174
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	993,457	1,273,734
Series A Preferred Stock [Member]
Stockholders’ Equity (Deficit):
Preferred stock	800	800
Series B Preferred Stock [Member]
Stockholders’ Equity (Deficit):
Preferred stock	$ 997	$ 997