SUBSEQUENT EVENTS
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6 Months Ended |
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Dec. 31, 2012
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Subsequent Events [Abstract] | |
NOTE 12 - SUBSEQUENT EVENTS |
In January 2013, the Company received a $15,000 loan from the Companys Chief Executive Officer.
In January 2013, the Company issued 25,000 shares of common stock to a consultant for corporate advisory services. The shares are fully vested and valued at $0.65 (based on contemporaneous cash sales prices) and accordingly, the Company recognized an expense of $16,250 related to the share issuance.
In February 2013, the Company issued 125,000 shares of common stock to a consultant to settle accounts payable of $16,500. The shares are fully vested and valued at $0.65 (based on contemporaneous cash sales prices) and accordingly, the Company recognized a loss on settlement of $64,750 based on the share value of $81,250.
In February 2013, the Company received a loan for the sum of $9,576 from the Companys Chief Executive Officer.
In February 2013, the Company issued 7,500 shares of common stock to a consultant for services. The shares are fully vested and valued at $0.65 (based on contemporaneous cash sales prices) and accordingly, the Company recognized an expense of $4,875 related to the share issuance. |