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Subsequent Events | 9 Months Ended
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Mar. 31, 2013
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | NOTE 12. SUBSEQUENT EVENTS On April 1, 2013, the Company issued 90,361 shares of common stock to a third party for consulting services provided. On April 8, 2013, the Company issued additional Convertible Notes for total gross proceeds of $250,000. In connection with this closing, the Company paid the placement agent $28,750 in private placement fees. In connection with this closing, the Company issued to the investor 500,000 Convertible Note Warrants with an exercise price of $0.50 and 500,000 Convertible Note Warrants with an exercise price of $0.25. Additionally, the Company issued to the placement agent 200,000 Convertible Note Broker Warrants with an exercise price of $0.25. The investor is an affiliate of Mr. Victor Azrak, who was appointed as the Company’s director effective as of April 8, 2013. On April 8, 2013, the Company issued 500,000 five-year warrants with an exercise price of $0.25 to its new consultant, engaged effective as of the same date for consulting services to the Company. The warrants shall vest ratably in arrears over six 30-day periods beginning on April 8, 2013, with one-sixth of the warrants vesting on each successive thirtieth day following April 8, 2013, subject to the termination of the consulting agreement prior thereto. On April 8, 2013, the Company appointed a new board member to its Board of Directors. The Company granted such director 525,000 stock options under its 2012 Equity Incentive Plan. All of the options have a ten-year term and are exercisable for the purchase of one share of the Company’s common stock at an exercise price of $0.14 per share. 500,000 options will vest annually at a rate of 33% beginning on the first anniversary date of the grant and 25,000 options will vest on the first anniversary date of the grant, in each case, if the grantee remains employed by the Company or any of its subsidiaries on each annual vesting date. On May 2, 2013, the Company entered into a licensing agreement with Pretty Ugly, LLC, the creators of the popular UglyDoll brand, acquiring the exclusive right to use certain UglyDoll characters to expand the Company’s category of beauty and personal care line of products, including bath, soap, shower and body care products and lip balms, fragrance, bath accessories and more. On May 9, 2013, the Company changed the name of its cosmetics/beauty brand by Kourtney, Kim and Khloe Kardashian to Kardashian Beauty.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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