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LOAN PAYABLE
12 Months Ended
Jun. 30, 2015
LOAN PAYABLE [Abstract]  
LOAN PAYABLE
NOTE 12 – LOAN PAYABLE

During the year ended June 30, 2015, the Company entered into a financing arrangement to cover directors’ and officers’ liability insurance for the period December 31, 2014 to December 31, 2015. The amount financed was $72,755, which bears interest at 3.189% annually. Monthly payments of $8,084 are required to settle amounts owing. The balance outstanding as of June 30, 2015 was $32,335.  As at June 30, 2015, $45,354, representing the unamortized portion of prepaid insurance, is included in prepaid expenses on the consolidated balance sheet.