Attached files

file filename
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
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R9.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R1.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R5.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R2.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R7.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R8.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R6.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R3.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R4.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R28.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R20.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R32.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R18.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R11.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R15.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R21.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R14.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R29.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R26.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R17.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R31.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R23.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R24.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R25.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R13.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R30.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R10.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R22.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R16.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R27.htm
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R19.htm
EX-31.2 - CERTIFICATION - Texas Rare Earth Resources Corp.ex31-2.htm
EX-32.2 - CERTIFICATION - Texas Rare Earth Resources Corp.ex32-2.htm
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
XML - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.R12.htm
EX-31.1 - CERTIFICATION - Texas Rare Earth Resources Corp.ex31-1.htm
v2.4.0.6
SHAREHOLDERS' EQUITY (Details Narrative) (USD $)
0 Months Ended 1 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended 14 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 12 Months Ended
Jun. 27, 2011
Sep. 30, 2010
Nov. 30, 2010
Aug. 31, 2010
Aug. 31, 2012
Aug. 31, 2011
Nov. 30, 2010
Jul. 31, 2004
Feb. 28, 2011
General Gregory Martin, Director
Stock Options
Mar. 31, 2011
Wm Chris Mathers, CFO
Stock Options
Mar. 31, 2011
Graham Karklin, Director
Stock Options
May 31, 2011
Anthony Marchese, Director and Chairman
Stock Options
Mar. 31, 2011
Anthony Marchese, Director and Chairman
Stock Options
Apr. 30, 2011
Cecil Wall, Director
Stock Options
Apr. 30, 2011
Jim Graham, Director
Stock Options
May 31, 2011
KMLeVierMember
Stock Options
Dec. 30, 2011
Four Independent Directors
Stock Options
Aug. 31, 2012
Four Independent Directors
Stock Options
Jul. 31, 2011
Four Independent Directors
Stock Options
Aug. 19, 2011
Anthony Garcia, SVP Development
Stock Options
Nov. 01, 2011
Nadine Wakley, Director of Investor Relations
Stock Options
Aug. 31, 2012
John Tumazos, Chairman of Board
Stock Options
Aug. 31, 2012
John Tumazos, Chairman of Board
Stock Options - 2nd Tranche
Aug. 31, 2011
2009 - 2010 Private Placement
Aug. 31, 2012
Exercise of Class A & B Warrants
Aug. 31, 2011
Exercise of Class A & B Warrants
Aug. 31, 2011
Private Placement January 2011
Aug. 31, 2011
Warrant Options Exercised
Aug. 31, 2012
January 2011 Warrants
Aug. 31, 2011
January 2011 Warrants
Aug. 31, 2012
January 2011 Option Warrants
Aug. 31, 2011
January 2011 Option Warrants
Aug. 31, 2010
Class A Warrants
Aug. 31, 2010
Class B Warrants
Aug. 31, 2012
Common Stock
Aug. 31, 2011
Common Stock
Aug. 31, 2010
Common Stock
Aug. 31, 2010
Class A & B Warrants
Preferred stock, par value         $ 0.001 $ 0.001   $ 0.001                                                            
Preferred stock, shares authorized         10,000,000 10,000,000                                                                
Common stock, par value         $ 0.01 $ 0.01   $ 0.01                                                            
Common stock, shares authorized         100,000,000 100,000,000   25,000,000                                                            
Shares issued       452,500 1,943,749 10,208,750 2,263,750                                 1,132,500     1,600,000                      
Proceeds from issuance of common stock         $ 1,103,124 $ 19,113,788 $ 905,500                                 $ 453,000     $ 4,000,000                      
Warrants Issued                                                     1,600,000                      
Warrants exercise price $ 2.50                                                   $ 2.50 $ 2.50 $ 2.50   $ 2.50   $ 0.82 $ 0.84     $ 0.85  
Fair value of warrants issued                                                     944,000   4,640,000   7,800,000              
Expected warrant life                                                     5 years 5 years   5 years   5 years            
Risk-free interest rate                                                     1.10% 1.10%   1.10%   1.10%            
Expected Dividend Yield                                                     0.00% 0.00%   0.00%   0.00%            
Expected volatility                                                     404.00% 380.00%   404.00%   380.00%            
Share price                 $ 2.50 $ 2.50 $ 2.50 $ 4.15 $ 2.50 $ 4.70 $ 4.00 $ 2.50 $ 1.51 $ 1.00 $ 2.60 $ 1.85 $ 1.81 $ 0.50 $ 1.00                              
Stock options expected term                 5 years 5 years 5 years 5 years 5 years 5 years 5 years 5 years 10 years 10 years 3 years 6 months 5 years 5 years 5 years 5 years                              
Risk-free interest rate                 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10%                              
Expected Dividend Yield                 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%                              
Expected volatility                 421.00% 376.00% 325.00% 324.00% 323.00% 325.00% 322.00% 376.00% 348.00% 333.00% 372.00% 361.00% 353.00% 333.00% 333.00%                              
Commissions paid, cash                                                     318,000 1,337,150                    
Commissions paid, warrants issued                                                     305,000 1,192,000                    
Fair value of warrants issued for commissions                                                     887,000 2,980,000                    
Legal fees paid in private placement                                                     65,150                      
Shares issued paid for in a prior period           131,250                                                                
Warrants Exercised                                                 1,943,749 1,236,250   6,240,000                    
Proceeds from exercise of warrants                                                 1,103,124 715,938   15,600,000                    
Class A warrants exercised                                                 1,293,749 845,000                        
Class B warrants exercised                                                 650,000 391,250                        
Class A warrants exercised, proceeds                                                 646,874 422,500                        
Class B warrants exercised, proceeds                                                 456,250 293,438                        
Fair value of warrants exercised                                                       2,236,000                    
Registration statement, shares registered 4,738,750                                                                          
Registration statement, Class A warrants registered 1,336,250                                                                          
Registration statement, Class B warrants registered 678,125                                                                          
Registration statement, options registered 250,000                                                                          
Registration statement, private placement shares registered 1,905,000                                                                          
Shares issued for director compensation, shares   300,000                                                                        
Shares issued for director compensation, value   249,000                                                                        
Shares issued for services, shares     61,000                                                               10,000 225,000    
Shares issued in non-exclusive investment banking agreement       50,000                                                                    
Shares issued in non-exclusive investment banking agreement, value       96,150                                                                    
Stock Options Granted                 60,000 400,000 60,000 175,000 150,000 90,000 60,000 2,500,000 400,000 400,000 180,000 750,000 50,000 1,000,000 900,000                              
Fair value of stock options granted                 150,000 1,000,000 150,000 726,000 375,000 423,000 240,000 6,250,000 604,000 152,000 468,000 1,387,000 90,000 380,000 320,000                              
Monthly amount expensed for vesting                   28,000           174,000       38,500 3,800   20,052                              
Warrants Outstanding         9,620,344                                               1,600,000   6,240,000              
Additional paid-in capital         $ 29,262,684 $ 24,818,022                                             $ 944,000   $ 2,236,000             $ 269,978