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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
9 Months Ended 33 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Cash flows from operating activities:      
Net loss $ (5,068,201) [1] $ (580,469) $ (6,439,045) [1]
Adjustments to reconcile net loss to net cash flows used in operating activities:      
Depreciation 294    294
Amortization of debt discounts and deferred financing 347,068    347,068
Change in derivative liabilities 2,380,540   2,380,540
Settlement of legal fees through the issuance of convertible notes 25,000    25,000
Changes in operating assets and liabilities:      
Cash held in escrow (25,799)    (25,799)
Prepaid assets (423)    (423)
Deferred offering costs 38,500      
Accounts payable and accrued expenses 98,160 75,836 357,984
Accrued salaries, member 140,591 168,947 576,107
Other liabilities 10,000    10,000
Contingent liabilities    182,500 441,527
Net cash used in operating activities (2,054,270) (153,186) (2,326,747)
Cash flows from investing activities:      
Cash received in reverse merger 209,392    209,392
Net cash provided by investing activities 209,392    209,392
Cash flows from financing activities:      
Cash paid for debt issuance costs (295,150)   (295,150)
Proceeds from issuing convertible notes 3,934,995    3,934,995
Proceeds from demand note 50,000    50,000
Proceeds from participation notes 20,000 115,000 295,000
Contribution 2,757    2,757
Net cash provided by financing activities 3,712,602 115,000 3,987,602
Net increase (decrease) in cash 1,867,724 (38,186) 1,870,247
Cash, beginning of period 2,523 [2] 39,520   
Cash, end of period 1,870,247 [1],[3] 1,334 1,870,247 [1],[3]
Supplemental disclosures of cash flow information:      
Interest paid         
Income taxes paid         
Non-cash investing and financing activities:      
Shares issued in reverse merger, net of cash received 1,388,550    1,388,550
Conversion of Series A Preferred stock to common stock 6,000    6,000
Warrants issued for deferred financing costs $ 1,120,970    $ 1,120,970
[1] Restated
[2] MV Patents, LLC
[3] California Gold Corp. and Subsidiaries