RELATED PARTY TRANSACTIONS

12 Months Ended

Jun. 30, 2012

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

15.  RELATED PARTY TRANSACTIONS

Compensation

AccelPath made or accrued monthly payments of $10,000 each to three executives (formerly “Managing Members”) as compensation for services performed.  On March 4, 2011, a Managing Members resigned (see Note 9) and is no longer entitled to this monthly payment.  In April 2012, another executive resigned and is no longer entitled to this monthly payment.  One executive continues to receive this compensation at June 30, 2012.  No written agreements are currently in place related to these payments.

AccelPath recognized $215,000 and $330,000 of expense for these monthly payments during the years ended June 30, 2012 and 2011, respectively.  At June 30, 2012 and 2011, $123,500 and $45,000 of unpaid monthly payments are included in accrued compensation.

AccelPath Revenue

During the year ended June 30, 2011, approximately $110,000 of AccelPath revenue transactions were initiated by one laboratory.  Certain of the owners of the laboratory were minority owners of AccelPath prior to the reverse acquisition and are now minority shareholders of the Company.