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COMMON STOCK ISSUANCES AND REPURCHASES | 12 Months Ended
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Jun. 30, 2012
Common Stock Issuances and Repurchases [Abstract] |
Common Stock Issuances and Repurchases Disclosure [Text Block] | 9. COMMON STOCK ISSUANCES AND REPURCHASES Prior to the reverse acquisition, during the year ended June 30, 2011, AccelPath issued 17,163,593 shares of $0.001 par value common stock for total proceeds of $515,000. On March 4, 2011, AccelPath entered into a resignation and repurchase agreement with one of its Managing Members. The Managing Member resigned on March 4, 2011 and AccelPath agreed to repurchase 10,498,120 shares of $0.001 par value common stock for $74,000. To complete the repurchase, AccelPath issued a $74,000 note payable due in eight monthly installments of $9,269 including interest at 0.54% per annum. At June 30, 2012, AccelPath has not paid $27,750 of principal payments due for August through October 2011. During a default, unpaid principal bears interest at 12% per annum. In addition, AccelPath entered into a consulting agreement with the Managing Member requiring payments of $750 per month for a period of eight months in consideration for continuing services. At June 30, 2012, AccelPath has accrued but not made the $2,250 of consulting payments due for August through October 2011. Interest expense for the years ended June 30, 2012 and 2011 was $2,714 and $56, respectively. Consulting expense for the years ended June 30, 2012 and 2011 was $3,750 and $2,250, respectively. On March 4, 2011, in connection with the reverse acquisition, 32,678,056 shares of common stock were recorded in the financial statements of AccelPath, the accounting acquirer (See Note 1 – Reverse Acquisition). On March 7, 2011, the Company entered into an Equity Purchase Agreement with Southridge Partners II, LP (the “Equity Purchase Agreement”). Pursuant to the Equity Purchase Agreement, Southridge shall commit to purchase up to $5,000,000 of common stock over the course of 24 months commencing on the effective date of the registration statement pursuant to the registration rights agreement. The registration statement was declared effective on February 9, 2012. The purchase price of the common stock to be sold pursuant to the Equity Purchase Agreement will be 95% of the average of the lowest three closing bid prices, consecutive or inconsecutive, during the five trading day period commencing on the date a put notice requesting that Southridge purchase shares of common stock under the Equity Purchase Agreement is delivered. During the year ended June 30, 2012, the Company received proceeds of $34,640 for the sale of 1,047,634 shares of common stock. On March 7, 2011, the Company issued 450,000 shares of common stock to Southridge in connection with the Equity Purchase Agreement. The $36,000 fair value of the common stock issued was recorded as a deferred stock issuance cost. The Company charged the deferred stock issuance costs against the proceeds received from the Equity Purchase Agreement during the year ended June 30, 2012. On March 14, 2011, the Company issued 1,000,000 shares of common stock to its former President and CEO under the January 11, 2011 Employment Settlement Agreement. The Company recorded compensation expense of $50,000 for the year ended June 30, 2011 based on the fair value of the common stock issued.

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