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EXCEL - IDEA: XBRL DOCUMENT - Source Gold Corp.Financial_Report.xls
10-K - ANNUAL REPORT - Source Gold Corp.srgl_10k.htm
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EX-32.1 - CERTIFICATION - Source Gold Corp.srgl_ex321.htm
EX-10.5 - PROMISSORY NOTE - Source Gold Corp.srgl_ex105.htm
EX-10.6 - STOCK PURCHASE AGREEMENT - Source Gold Corp.srgl_ex106.htm
EX-31.1 - CERTIFICATION - Source Gold Corp.srgl_ex311.htm
EX-31.2 - CERTIFICATION - Source Gold Corp.srgl_ex312.htm
v2.4.0.6
Common Stock
12 Months Ended
Jul. 31, 2012
Notes  
Common Stock

Note 7 Common Stock

 

The Company is authorized to issue 20,000,000 shares of it $0.001 par value preferred stock and 180,000,000 shares of its $0.001 par value common stock.

 

On June 16, 2008, the Company issued 24,000,000 common shares to the Company’s former president at $0.002 per share for total proceeds of $48,000.

 

On July 31, 2008, the Company issued 20,400,000 common shares at $0.0035 per share for total proceeds of $71,400 pursuant to a private placement. The Company paid commissions of $7,025 for net proceeds of $64,375.

 

On October 26, 2009, the Company issued 200,000 common shares at $0.25 per share for total proceeds of $50,000 pursuant to a private placement.

 

On October 30, 2009, the Company issued 200,000 common shares at $0.25 per share for total proceeds of $50,000 pursuant to a private placement.

 

On November 26, 2009, the Company issued 100,000 common shares at $1.00 per share for total proceeds of $100,000 pursuant to a private placement.

 

On March 5, 2010, the Company issued 120,000 common shares at $1.00 per share for total proceeds of $120,000 pursuant to a private placement.

 

On April 30, 2010, the Company issued 33,333 common shares at $1.50 per share for total proceeds of $50,000 pursuant to a private placement.

 

On June 16, 2010, the Company issued 105,932 common shares at $1.18 per share for total proceeds of $125,000 pursuant to a private placement.

 

On August 7, 2010, the Company issued 4,000,000 common shares with an aggregate fair value of $2,000,000 pursuant to the acquisition of Vulture Gold LLC.

 

On September 29, 2010, the Company issued 100,000 common shares at $0.50 per share for total proceeds of $50,000 pursuant to a private placement.

 

On October 22, 2010, the Company issued 31,250 common shares at $0.64 per share for total proceeds of $20,000 pursuant to a private placement.

 

On December 14, 2010, the Company issued 156,250 common shares at $0.32 per share for total proceeds of $50,000 pursuant to a private placement.

 

On February 25, 2011, the Company issued 50,000 common shares at $0.40 for total proceeds of $20,000 pursuant to a private placement.

 

On March 29, 2011, the Company issued 125,000 common shares at $0.40 for total proceeds of $50,000 pursuant to a private placement.

 

On April 28, 2011, the Company issued 125,000 common shares at $0.32 for total proceeds of $40,000 pursuant to a private placement.

 

On June 17, 2011, the Company issued 100,000 common shares at $0.40 for total proceeds of $40,000 pursuant to a private placement.

 

On September 7, 2011, the Company issued 160,000 common shares at $0.25 for total proceeds of $40,000 pursuant to a private placement.

 

On November 29, 2011, the Company issued 250,000 common shares at $0.10 for total proceeds of $25,000 pursuant to a private placement.

 

On January 6, 2012, the Company issued 125,000 common shares at $0.08 for total proceeds of $10,000 pursuant to a private placement.

 

On May 10, 2012, the Company issued 1,000,000 common shares pursuant to a mineral property option agreement with a fair value of $80,000.

 

Capital Contribution

 

During the year ended July 31, 2010, the former president of the Company granted an option to the current president of the Company to acquire up to 20,000,000 common shares of the Company, held by the former president, at a price of $0.0025 per share effective December 20, 2010 until May 1, 2011.  The Company has recorded compensation under management fees and a capital contribution of $nil (2011 - $3,992,571) (2010 - $6,967,429) aggregating $10,960,000 using the Black-Scholes valuation model based on the following inputs; exercise price $0.0025; dividend rate Nil; current stock price of $0.55; term 1.5 years; and volatility 137.75%.

 

Warrants and Options

 

As of July 31, 2012 and 2011, there were no warrants or options outstanding to acquire any additional shares of common stock.