SUBSEQUENT EVENTS	3 Months Ended
Sep. 30, 2014
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	12. SUBSEQUENT EVENTS Material Definitive Agreement On October 16, 2014, AccelPath entered into an Securities Purchase Agreement with the common stock and preferred stock shareholders (the “Sellers”) of Village Tea Distributors, Inc. (“Village Tea”) holding seventy percent (70%) of common stock and all the Series A Preferred Stock of Village Tea. Upon the closing of the transaction on October 24, 2014, Village Tea became a majority-owned subsidiary of AccelPath. Accelpath issued 1,525 shares of a newly designated series of convertible preferred stock to the Sellers, designated as Series J Preferred Stock. The Series J Preferred Stock hasa stated value per share equal to $1,000, shall pay an annual dividend of 10% in cash or common stock, and shall be convertible at the holder’s option, subject to beneficial ownership limitations, into shares of the common stock of Accelpath at a conversion price equal to eighty percent (80%) of the lowest closing bid price for the Common Stock during the thirty (30) trading days immediately preceding a Conversion Date. Accelpath agrees to assume $538,500.00 worth of the debt obligations of Village Tea in connection with the Agreement. Termination of Agreement with Energy Innovative Products (“EIP”) As previously disclosed, on October 24, 2013, AccelPath and EIP entered into an Agreement and Plan of Reorganization in which EIP was to become a wholly-owned subsidiary of AccelPath. On October 9, 2014 EIP gave notice to Accelpath of its intention to terminate the Agreement. As a result, the parties shall take all action required to unwind the transaction, including the return and surrender by Accelpath of the common stock its holds in EIP, and the return and surrender by EIP of its 3,500 shares of Series I Preferred Stock of AccelPath. Accelpath shall retire all shares of Series I Preferred Stock to treasury. Issuance of Debt On October 1, 2014, the Company issued a note for $30,000 for consulting services. The convertible promissory note bears no interest and matures on November 10, 2015. The third party has the option to convert all or a portion of the note plus accrued interest into common stock at a conversion price equal to 50% of the lowest closing bid price for the twenty days prior to the conversion. As of the date of this filing, there have been no conversions of this Note and the entire amount is outstanding. On October 16, 2014, the Company borrowed $15,000 from a third party in a convertible promissory note. The convertible promissory note bears interest at 10% per annum and matures on September 30, 2015. The third party has the option to convert all or a portion of the note plus accrued interest into common stock at a conversion price equal to 50% of the lowest closing bid price for the thirty days prior to the conversion. As of the date of this filing, there have been no conversions of this Note and the entire amount is outstanding. On November 1, 2014, the Company issued a note for $30,000 for consulting services. The convertible promissory note bears no interest and matures on May 30, 2015. The third party has the option to convert all or a portion of the note plus accrued interest into common stock at a conversion price equal to 50% of the lowest closing bid price for the twenty days prior to the conversion. As of the date of this filing, there have been no conversions of this Note and the entire amount is outstanding. Issuance of Common Stock Since the Balance sheet date, the Company issued 230,003,363 shares of common stock as follows: 189,028,363 shares were issued for the conversion of $68,880.41 of debt, plus $1,305.57 in accrued interest and $5,100 in expenses related to the conversion. 40,975,000 were issued for retirements of trade payables through the 3(a)(10) program.

SUBSEQUENT EVENTS

3 Months Ended

Sep. 30, 2014

12. SUBSEQUENT EVENTS

Material Definitive Agreement

On October 16, 2014, AccelPath entered into an Securities Purchase Agreement with the common stock and preferred stock shareholders (the “Sellers”) of Village Tea Distributors, Inc. (“Village Tea”) holding seventy percent (70%) of common stock and all the Series A Preferred Stock of Village Tea. Upon the closing of the transaction on October 24, 2014, Village Tea became a majority-owned subsidiary of AccelPath. Accelpath issued 1,525 shares of a newly designated series of convertible preferred stock to the Sellers, designated as Series J Preferred Stock. The Series J Preferred Stock hasa stated value per share equal to $1,000, shall pay an annual dividend of 10% in cash or common stock, and shall be convertible at the holder’s option, subject to beneficial ownership limitations, into shares of the common stock of Accelpath at a conversion price equal to eighty percent (80%) of the lowest closing bid price for the Common Stock during the thirty (30) trading days immediately preceding a Conversion Date. Accelpath agrees to assume $538,500.00 worth of the debt obligations of Village Tea in connection with the Agreement.

Termination of Agreement with Energy Innovative Products (“EIP”)

As previously disclosed, on October 24, 2013, AccelPath and EIP entered into an Agreement and Plan of Reorganization in which EIP was to become a wholly-owned subsidiary of AccelPath. On October 9, 2014 EIP gave notice to Accelpath of its intention to terminate the Agreement. As a result, the parties shall take all action required to unwind the transaction, including the return and surrender by Accelpath of the common stock its holds in EIP, and the return and surrender by EIP of its 3,500 shares of Series I Preferred Stock of AccelPath. Accelpath shall retire all shares of Series I Preferred Stock to treasury.

Issuance of Debt

On October 1, 2014, the Company issued a note for $30,000 for consulting services. The convertible promissory note bears no interest and matures on November 10, 2015. The third party has the option to convert all or a portion of the note plus accrued interest into common stock at a conversion price equal to 50% of the lowest closing bid price for the twenty days prior to the conversion. As of the date of this filing, there have been no conversions of this Note and the entire amount is outstanding.

On October 16, 2014, the Company borrowed $15,000 from a third party in a convertible promissory note. The convertible promissory note bears interest at 10% per annum and matures on September 30, 2015. The third party has the option to convert all or a portion of the note plus accrued interest into common stock at a conversion price equal to 50% of the lowest closing bid price for the thirty days prior to the conversion. As of the date of this filing, there have been no conversions of this Note and the entire amount is outstanding.

On November 1, 2014, the Company issued a note for $30,000 for consulting services. The convertible promissory note bears no interest and matures on May 30, 2015. The third party has the option to convert all or a portion of the note plus accrued interest into common stock at a conversion price equal to 50% of the lowest closing bid price for the twenty days prior to the conversion. As of the date of this filing, there have been no conversions of this Note and the entire amount is outstanding.

Issuance of Common Stock

Since the Balance sheet date, the Company issued 230,003,363 shares of common stock as follows:

189,028,363 shares were issued for the conversion of $68,880.41 of debt, plus $1,305.57 in accrued interest and $5,100 in expenses related to the conversion.

40,975,000 were issued for retirements of trade payables through the 3(a)(10) program.