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3. 10% SENIOR SECURED CONVERTIBLE NOTES (Tables)

3 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

10% Senior Secured Convertible Notes

The 10% Senior Secured Convertible Notes (the “Notes”) consist of the following:

		September 30, 2012				June 30, 2012
10% Senior Secured Convertible Notes issued on June 25, 2008, convertible into common stock at $1.25 per share, bearing interest at 10% per annum. Outstanding principal and accrued interest due at maturity, September 30, 2012		$	–			$	50,000
Accrued interest—10% coupon due on September 30, 2012			–				1,250
		$	–			$	51,250

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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