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EXCEL - IDEA: XBRL DOCUMENT - Bullion Monarch Mining, Inc. (NEW)Financial_Report.xls
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EX-32 - 906 CERTIFICATION - Bullion Monarch Mining, Inc. (NEW)ex32.htm
EX-31 - 302 CERTIFICATION OF PHILIP MANNING - Bullion Monarch Mining, Inc. (NEW)ex312.htm
EX-31 - 302 CERTIFICATION OF R. DON MORRIS - Bullion Monarch Mining, Inc. (NEW)ex311.htm
10-Q - QUARTERLY REPORT ON FORM 10Q FOR THE QUARTER ENDED JULY 31, 2011 - Bullion Monarch Mining, Inc. (NEW)f10q1stqtr2012091311v12.htm
v2.3.0.11
Equity
3 Months Ended
Jul. 31, 2011
Equity  
Stockholders' Equity Note Disclosure [Text Block]

NOTE 4        TREASURY STOCK

 

During the three months ended July 31, 2011, Bullion did not purchase or retire any stock. As of July 31, 2011, the number of shares in treasury totaled 133,455, with a cost of $104,309.

 

Shareholders' Equity and Share-based Payments [Text Block]

NOTE 7        STOCK OFFERING

 

During January 2011, Bullion engaged an agent in regards to an offering of the securities of Bullion Monarch Mining Inc. in Canada. The offering is expected to consist of a minimum of 10,000,000 Common Shares. The agent will be entitled to a Corporate Finance Fee of Canadian (C)$25,000 as well as 6.75% of the gross proceeds of the stock issuance and broker warrants in the sum of 7% of the total number of securities issued pursuant to the offering. Bullion has granted an option to cover over-allotments, which will allow the agent to offer additional securities in an amount up to 15% of the original amount of securities sold at a price equal to the issue price, the option being exercisable at any time within 30 days of the closing date. As of July 31, 2011, costs incurred of $180,826 related to the offering have been capitalized. Bullion is working with its agent regarding a potential offering in the fall of 2011.

 

NOTE 8        STOCK OPTION PLAN

 

On February 18, 2011, the Board of Directors of Bullion approved the 2011 Stock Option Plan of Bullion Monarch Mining, Inc. (the “2011 Plan”). The 2011 Plan provides for the granting of options to purchase up to 3,000,000 shares of Bullion’s common stock to directors, employees and consultants of Bullion, including officers and directors who are employees of Bullion.  Under the 2011 Plan, the granting of options, exercise prices and terms are determined by the  

 

Company’s Board, or a committee designated by the Board to administer the 2011 Plan.  The term of options granted under the 2011 Plan may not exceed 10 years.  No options have been granted under the 2011 Plan.