Nova Mining CORP - FORM 10-Q - XML - IDEA: XBRL DOCUMENT

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10-Q - FORM 10-Q - Nova Mining CORP	f10q-nvmn.htm

v2.4.0.6

Balance Sheets (USD $)	Aug. 31, 2012	Feb. 29, 2012
Assets, Current
Cash	$ 23,626	$ 4,581
Assets, Current	23,626	4,581
Assets	23,626	4,581
Liabilities, Current
Accounts Payable		2,470
Accounts Payable, Related Party		1,100
Advance	30,000
Interest Payable	60,271	31,453
Accrued Liabilities	2,000	4,000
Notes Payable	595,000	370,000
Liabilities	687,271	409,023
Stockholders' Equity
Common Stock	300	300
Additional Paid in Capital	132,750	132,750
Deficit Accumulated During Development Stage	(796,695)	(537,492)
Stockholders' Equity	(663,645)	(404,442)
Liabilities and Equity	23,626	4,581
Stockholders' Equity, Number of Shares & Par Value
Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock, Shares Issued and Outstanding	0	0
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Issued and Outstanding	30,000,000	30,000,000
Common Stock, Value, Outstanding	$ 15,900,000	$ 39,000,000

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Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.

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Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

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The maximum number of common shares permitted to be issued by an entity's charter and bylaws.

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Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.

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Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.

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Value of all classes of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares exclude common shares repurchased by the entity and held as treasury shares.

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Sum of the carrying values as of the balance sheet date of (a) interest payable on all forms of debt, including trade payables, that has been incurred, and (b) dividends declared but unpaid on equity securities issued by the entity and outstanding (also includes dividends collected on behalf of another owner of securities that are being held by the entity). Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.

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Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.

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The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

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Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.

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The cumulative amount of the reporting entity's undistributed earnings or deficit.

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Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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Nova Mining CORP - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - September 27, 2012

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