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8. INCOME TAXES (Details 1) (USD $)
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12 Months Ended | 57 Months Ended | |
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Jun. 30, 2012
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Jun. 30, 2011
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Jun. 30, 2012
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| Income Taxes Details 1 | |||
| Income Tax Expense (Benefit) at Australia Statutory Rate | $ (3,482,491) | $ (670,967) | |
| Stock Based Compensation | |||
| R & D Refundable Tax Credit | (173,928) | (84,581) | |
| Reduction of NOL Carryforward Due to R & D Tax Credit | 173,928 | 84,581 | |
| Deferred Tax Valuation Allowance | 3,211,114 | 720,710 | |
| Foreign Exchange Rate Changes | 97,449 | (134,324) | |
| Total Income Tax Expense (Benefit) | $ (173,928) | $ (84,581) | $ (258,509) |
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No authoritative reference available. No definition available.
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- Definition
The effect of exchange rate changes on cash balances in continuing operations held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The amount deducted from an entities' taxes, reflecting a percentage of an amount invested in certain assets spread over the useful life of those assets; includes deferred investment tax credits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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