Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
9 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
NOTE 11 - SUBSEQUENT EVENTS

In April 2012, the Company sold 21,800 shares of common stock at $0.65 for proceeds of approximately $14,000.

 

In April 2012, the Company issued 200,000 shares of common stock a consultant for services rendered which were valued at $0.65, based on contemporaneous cash sales prices or $130,000.

 

In April 2012, the Company issued 31,622 shares of common to adjust a prior share settlement where the shares were valued at $1.50 as discussed in Note 7. The shares were revalued at $0.65 based on contemporaneous cash sales prices and the company recorded an expense of $320,554.

 

In April 2012, the Company issued 150,000 shares of common stock a consultant for services rendered which were valued at $0.65, based on contemporaneous cash sales prices or $97,500.

 

In April 2012, the Company issued 200,000 shares of common stock pursuant to a consulting agreement for services to be rendered over a six month period. The shares were valued at $0.65, based on contemporaneous cash sales prices or $130,000. Additionally, the company issued 150,000 one-year warrants to purchase common stock at $1.00 per share which will be recognized as expense over the six-month term of the agreement.