XML 51 R19.htm IDEA: XBRL DOCUMENT v3.3.0.814
14 Subsequent Events
3 Months Ended
Sep. 30, 2015
Notes  
14 Subsequent Events

14           SUBSEQUENT EVENTS

On November 4, 2015, the Company reached agreement with three of its creditors to convert $2.66 million high interest bearing debt into 2,046,995 shares of common stock. The shares were valued at $1.3 per share and will be restricted under Rule 144.

In accordance with ASC 855, “Subsequent Events”, the Company has evaluated subsequent events that have occurred through the date of issuance of these financial statements and has determined that there was no  other material event that occurred after the date of the balance sheets included in this report.