v2.4.0.6
NOTES PAYABLE (Table)
 12 Months Ended
Jun. 30, 2012
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]

Notes payable consist of the following at June 30, 2012 and 2011:

 

 

2012

 

 

2011

 

Note payable – former Managing Member (see Note 9)

 

$

27,750

 

 

 $

46,250

 

Note payable – related party

 

 

4,300

 

 

 

—

 

Note payable – stockholder

 

 

13,000

 

 

 

—

 

Note payable – Chief Executive Officer

 

 

5,000

 

 

 

—

 

Note payable – Southridge Partners II LP

 

 

40,000

 

 

 

—

 

Convertible notes payable

 

 

195,000

 

 

 

—

 

Total

 

 

285,050

 

 

 

46,250

 

Convertible notes payable, discount

 

 

(33,645

)

 

 

—

 

Total, net of discount

 

 

251,405

 

 

 

46,250

 

Less current portion

 

 

133,240

 

 

 

—

 

Long-term debt

 

 $

118,165

 

 

 $

46,250