Annual report pursuant to Section 13 and 15(d)

8. INCOME TAXES (Details 1)

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8. INCOME TAXES (Details 1) (USD $)
12 Months Ended 69 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Income Taxes Details 1      
Income Tax Expense (Benefit) at Australia Statutory Rate $ (492,334) $ (3,482,491)  
Stock Based Compensation 351,935     
R & D Refundable Tax Credit (60,461) (173,928)  
Reduction of NOL Carryforward Due to R & D Tax Credit 60,461 173,928  
Deferred Tax Valuation Allowance (363,703) 3,211,114  
Foreign Exchange Rate Changes 443,641 97,449  
Total Income Tax Expense (Benefit) $ (60,461) $ (173,928) $ (318,970)