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Subsequent Events
9 Months Ended
Mar. 31, 2015
Subsequent Events [Abstract]  
Subsequent Events

Note 6. Subsequent Events

 

The Company evaluated all events or transactions that occurred after March 31, 2015 up through the date the Company issued these financial statements and determined there were the following reportable events:

 

Although the LOI provides that the proposed Merger is expected to close on or before November 30, 2014, there has been a delay in the preparation of the audited financial statements of the Target Companies and it is now expected that the proposed Merger will close on or about June 30, 2015, although there can be no assurance that this will, in fact, happen.

 

Subsequent to the March 31, 2015 financial statements and pursuant to the terms of the LOI, the Company agreed to provide additional bridge financing consisting of a loan of $151,000 in April 2015. To finance the Bridge Financing, pursuant to the March 31, 2015 financial statements the Company issued three of its 10% Secured Convertible Promissory Notes in the aggregate of $255,000.