Quarterly report pursuant to Section 13 or 15(d)


6 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  

Loans from Directors and Officer - Related Parties


Loans from Directors and Officer at December 31, 2013 and June 30, 2013 were $116,552 and $130,689, respectively. The loans bear interest at rates of prime + 2% (5.25% at December 31, 2013) and are all past their due date and in default.


During the six months ended December 31, 2013, the officer of the Company advanced approximately  $24,000 to pay corporate expenses and was repaid for current and prior advances approximately $37,000 during the same period. The balance due this officer at December 31, 2013 is included in the above $116,552.


Loans from Unrelated Parties


Loans from two unrelated parties were received during fiscal 2013 totaling $23,742. They bear interest at 10% and as of December 31, 2013 were past their due date and in default.


A loan from an unrelated party with a September 30, 2013 balance of $27,963 was exchanged for a convertible debenture as discussed below in note 5.