v2.4.1.9

Balance Sheets (USD $)	Dec. 31, 2014	Jun. 30, 2014
Current Assets
Cash	$ 71,419us-gaap_Cash	$ 310,749us-gaap_Cash
Accounts receivable	48,621us-gaap_AccountsReceivableNetCurrent	49,815us-gaap_AccountsReceivableNetCurrent
Current portion of reclamation bond	15,000us-gaap_AccruedReclamationCostsCurrent
Prepaid expenses	13,505us-gaap_PrepaidExpenseCurrent	43,006us-gaap_PrepaidExpenseCurrent
Total Current Assets	148,545us-gaap_AssetsCurrent	403,570us-gaap_AssetsCurrent
Reclamation bond	8,721us-gaap_OtherAssetsCurrent
Mineral interests	191,500	123,000
TOTAL ASSETS	348,766us-gaap_Assets	526,570us-gaap_Assets
Current Liabilities
Accounts payable	37,175us-gaap_AccountsPayableCurrent	1,875us-gaap_AccountsPayableCurrent
Deposits		43,560
Total Current Liabilities	37,175us-gaap_LiabilitiesCurrent	45,435us-gaap_LiabilitiesCurrent
Common stock payable (note 6)	28,250idah_AccountPayableCommonStock
Total Liabilities	65,425us-gaap_Liabilities	45,435us-gaap_Liabilities
Stockholders' Equity
Preferred stock, $0.05 par value, 10,000,000 shares authorized, none outstanding as of September 30, 2014 and June 30, 2014, Respectively	0us-gaap_PreferredStockValue	0us-gaap_PreferredStockValue
Common stock, $0.01 par value, 100,000,000 common shares authorized, 13,255,683 and 12,944,333 shares outstanding as of December 31, 2014 and June 30, 2014, respectively	132,557us-gaap_CommonStockValue	129,443us-gaap_CommonStockValue
Additional paid-in capital	848,178	813,592
Accumulated deficit	(697,394)	(461,900)
Total Stockholders' Equity	283,341us-gaap_StockholdersEquity	481,135us-gaap_StockholdersEquity
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	$ 348,766	$ 526,570

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 which have been paid with the entity's common stock. 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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Discloses the balance sheet amount of invoice for future exploration, development and production cost, pursuant to an exploration alliance agreement.

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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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Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.

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Current portion of reclamation reserve to restore a mining or drilling site to the condition agreed upon within the mining or drilling contract.

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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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Capitalized costs of unproven properties that include fee ownership or a lease, concession, or other interest representing the right to extract oil or gas subject to such terms as may be imposed by the conveyance of that interest.

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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. Excludes cash and cash equivalents within disposal group and discontinued operation.

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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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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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Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.

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Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

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Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).

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

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Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer.

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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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Idaho North Resources Corp. 10-Q