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SUBSEQUENT EVENTS

12 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 9- SUBSEQUENT EVENTS

In August, 2014, the Company raised gross proceeds, in a debt financing transaction, of $90 from its two principal stockholders, Iroquois and Hudson, and issued secured promissory notes in the principal amount of $45 to each of them. The notes have a maturity date of July 31, 2015 and bear interest at the rate of 5.0% per annum, payable at maturity. The notes are secured by all the assets of the Company.

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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.

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