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SUBSEQUENT EVENTS | 3 Months Ended
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Sep. 30, 2012
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | 13. SUBSEQUENT EVENTS On October 1, 2012, the Company entered into a loan agreement and a promissory note to borrow $100,000 from a stockholder. The loan will be repaid with six monthly payments of $23,000 beginning May 1, 2014 and ending on October 1, 2014 for a total payment amount of $138,000. On October 2, 2012, the Company entered into an amendment to the loan agreement and promissory note dated February 10, 2012 pursuant to which the Company extended the maturity date of the promissory note from August 10, 2012 to November 10, 2012 in exchange for a payment of $2,000 and the issuance of a warrant to purchase 250,000 shares of common stock at an exercise price of $0.01 per share. On October 25, 2012, Southridge converted $22,150 of the convertible promissory note due on September 1, 2013 plus $638 of accrued interest into 12,452,406 shares of common stock. On November 15, 2012, the Company settled the remaining liability related to discontinued operations by agreeing to pay the creditor $574,473 from the restricted cash. There were no other subsequent events that required recognition or disclosure in the financial statements.

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- Definition 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. + References No definition available. + Details
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