Equity

3 Months Ended

Dec. 31, 2011

Equity

Stockholders' Equity Note Disclosure [Text Block]

NOTE 4 – CAPITAL STOCK         

Preferred Stock – The Company is authorized to issue 10,000,000 shares of preferred stock.  No preferred stock has been issued so far.  The authorized preferred shares are non-voting and the Board of Directors has not designated any liquidation value or dividend rates.

Common Stock – The Company is authorized to issue 250,000,000 shares of no par value common stock. The holders of the Company's common stock are entitled to one vote for each share held of record on all matters to be voted on by those stockholders.

Common Stock Issuances – During the year ended June 30, 2011, the Company issued 12,714,540 shares of common stock for services at an average of $0.055 per share for a total expense of $704,827.  In addition, the Company issued 17,433,167 shares of common stock for cash at an average of $0.05 per share, yielding total cash proceeds of $909,951.

During the six month period ended December 31, 2011, the Company issued 50,000 shares of its Common Stock, at $0.10 per share from the Long-Term Incentive Equity Plan. In addition, the Company issued 837,802 shares to one (1) individual and one (1) entity at an average of $0.20 per share for services and as a bonus

valued at $158,904. 

The Company also issued 7,950,000 shares to thirteen (13) individuals and one (1) entity at an average of $0.14 per share in exchange for cash proceeds totaling $1,031,379.  During the six month period ended December 31, 2011, the Company received $18,255 for stock subscriptions payable.  Subsequent to the period end, the Company issued 100,000 shares of common stock at $0.18 per share in full satisfaction of the subscription payable.