Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
6 Months Ended
Dec. 31, 2012
Subsequent Events [Abstract]  
NOTE 12 - SUBSEQUENT EVENTS

In January 2013, the Company received a $15,000 loan from the Company’s 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 Company’s 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.