v2.4.0.6

Income Taxes (Tables)

9 Months Ended

Mar. 31, 2013

Income Taxes [Abstract]

Summary of Company's effective tax rate reconciliation

Statutory rate			34.0	%
State income taxes			5.8	%
Valuation allowance			(39.8	)%
Total			0.0	%

Summary of principal components of deferred tax assets and (liabilities)

Net operating losses carryforward		$	2,100,549
Start-up costs, net of amortization			63,934
Gross deferred taxes		$	2,164,483
Valuation allowance			(2,164,484	)
Net deferred taxes		$	-

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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