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NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Tables)
3 Months Ended
Sep. 30, 2012
Organization, Consolidation and Presentation Of Financial Statements [Abstract]  
Schedule of Purchase Price Allocation [Table Text Block]

A summary of the purchase price allocation is as follows:

 

Estimated purchase price

 

 

 

 

Cash payment

 

$

100,000

 

Series G Preferred Stock

 

 

562,500

 

Convertible note

 

 

1,050,000

 

 

 

$

1,712,500

 

 

 

 

 

 

Preliminary allocation of purchase price

 

 

 

 

Assets

 

 

 

 

Accounts receivable

 

$

244,085

 

Prepaid expenses

 

 

2,788

 

Property and equipment

 

 

170,868

 

Customer contracts

 

 

2,524,997

 

Total assets

 

 

2,942,738

 

Liabilities

 

 

 

 

Accounts payable

 

 

35,728

 

Accrued expenses and other current liabilities

 

 

15,587

 

Note payable

 

 

41,485

 

Obligations under capital lease

 

 

119,771

 

Distribution payable to Digipath member

 

 

96,662

 

Total liabilities

 

 

309,233

 

Bargain purchase gain

 

 

921,005

 

Total purchase price

 

$

1,712,500

 

Business Acquisition, Pro Forma Information [Table Text Block]

Unaudited pro forma operating results for the three months ended September 30, 2012 and 2011, assuming the acquisition had been made as of July 1, 2011, are as follows:

 

 

 

 

2012

 

 

 

2011

 

Revenues

 

$

333,150

 

 

$

309,876

 

Net loss applicable to common shareholders

 

$

(76,742

)

 

$

(758,680

)

Net loss per share – basic and diluted

 

$

(0.001

)

 

$

(0.006

)