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NOTE 3 - PROPERTY AND EQUIPMENT

12 Months Ended

Jun. 30, 2011

Property, Plant and Equipment Disclosure [Text Block]

NOTE 3 – PROPERTY AND EQUIPMENT

Property and equipment is stated at cost. Depreciation is provided using the straight-line method over the estimated useful lives of the assets. The useful lives of property, plant and equipment for purposes of computing depreciation is five years.

The following is a summary of property, equipment, and accumulated depreciation:

		June 30, 2011		June 30, 2010

Plant assets and equipment	$	261,515	$	267,815

Total assets		261,515		267,815
Less accumulated depreciation		(205,263)		(181,497)
	$	56,252	$	86,318

Depreciation expense for the years ended June 30, 2011 and 2009 was $27,461 and $36,295 respectively. The Company evaluates the recoverability of property and equipment when events and circumstances indicate that such assets might be impaired.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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