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EXCEL - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.Financial_Report.xls
10-K - TEXAS RARE EARTH RESOURCES CORP. FORM 10-K FOR THE FISCAL YEAR ENDED AUGUST 31, 2012 - Texas Rare Earth Resources Corp.trer10k083112.htm
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EX-31.2 - CERTIFICATION - Texas Rare Earth Resources Corp.ex31-2.htm
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EX-32.1 - CERTIFICATION - Texas Rare Earth Resources Corp.ex32-1.htm
EX-10.29 - SUPPLEMENTAL AGREEMENT - Texas Rare Earth Resources Corp.ex10-29.htm
EX-10.25 - EMPLOYMENT AGREEMENT - Texas Rare Earth Resources Corp.ex10-25.htm
EX-10.28 - SEVERANCE, WAIVER AND RELEASE AGREEMENT - Texas Rare Earth Resources Corp.ex10-28.htm
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EX-31.1 - CERTIFICATION - Texas Rare Earth Resources Corp.ex31-1.htm
v2.4.0.6
INCOME TAXES (Tables)
12 Months Ended
Aug. 31, 2012
Notes to Financial Statements  
Reconciliation of income tax
   
2012
   
2011
 
             
Loss before income taxes
  $ (14,374,600 )   $ (7,020,114 )
                 
Income tax benefit computed at statutory rates
  $ (4,887,364 )   $ (2,386,839 )
Increase in valuation allowance
    3,701,883       1,226,000  
Non-deductible stock compensation
    1,136,237       1,160,000  
Permanent differences, nondeductible expenses
    4,771       2,680  
Other
    44,473       (1,841 )
Tax benefit
  $ -     $ -  
Deferred tax assets
Deferred tax assets (liability)
 
2012
   
2011
 
 Net operating loss carryfowards
  $ 2,248,448     $ 952,157  
 Stock compensation
    1,136,237       1,160,000  
Assets, exploration cost, depreciation and amortization
    2,843,950       414,595  
   Utilization of net operating loss carryforwards
    -       -  
   Less:  valuation allowance
    (6,228,635 )     (2,526,752 )
                 
   Net deferred tax assets
  $ -     $ -