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OTHER CURRENT ASSETS | 12 Months Ended
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Jun. 30, 2012
Prepaid Expense and Other Assets, Current [Abstract] |
Other Current Assets [Text Block] | NOTE 5 – OTHER CURRENT ASSETS Other current assets consisted of the following:
|  | June 30, |  |  | June 30, |
|  | 2012 |  |  | 2011 |
Advancement |  | $ | 299,526 |  |  | $ | 530,459 |
Prepaid insurance |  |  | - |  |  |  | 6,667 |
Total |  | $ | 299,526 |  |  | $ | 537,126 |
Advancement represents advances made to non-related parties and employees. The amounts were unsecured, interest free, and due on demand. Prepaid insurance is related to the underwriting of the Company’s directors and officers insurance policy.

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