Quarterly report pursuant to Section 13 or 15(d)

PREPAIDS AND OTHER CURRENT ASSETS

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PREPAIDS AND OTHER CURRENT ASSETS
9 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
NOTE 3 - PREPAIDS AND OTHER CURRENT ASSETS

 

Prepaid expenses and other assets consists of the following:

 

 

March 31,

2013

 

June 30,

2012

 
         
Common stock issued for services   $ -     $ 38,520  
                 
   Total Prepaid expenses and other current assets   $ -     $ 38,520  

 

In February 2012, the Company issued 100,000 shares of common stock to a third party for services to be performed over the contract term. The shares were valued at $0.65 (based on contemporaneous cash sales prices) with a total value of $65,000. The Company has fully amortized the prepaid shares issued for services as of March 31, 2013.