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DEFERRED OFFERING COSTS – ADDITIONAL PAID IN CAPITAL
3 Months Ended
Sep. 30, 2012
Insurance [Abstract]  
DEFERRED OFFERING COSTS – ADDITIONAL PAID IN CAPITAL

NOTE 7 – DEFERRED OFFERING COSTS – ADDITIONAL PAID IN CAPITAL

 

Deferred offering costs consist principally of accounting fees, legal fees and other fees incurred through the balance sheet date that are related to the proposed common stock offering. Deferred offering costs related to the common stock offering were offset against the proceeds recorded as equity received from our common stock offering. On August 1, 2012, deferred offering costs of $60,439 were offset against additional paid in capital received from the common stock offering. The Company’s deferred offering cost balance of $42,500 is included in accrued expenses.