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Convertible Notes Payable (Narrative) (Details) (Collins Note, USD $)
1 Months Ended
Dec. 31, 2012
Jun. 30, 2014
Jun. 30, 2013
Collins Note
     
Amount of Convertible Promissory Notes   $ 0 $ 100,000
Interest rate on convertible notes   12.00%  
Debt instrument, description

On December 17, 2012 we issued a convertible promissory note payable to a private party, in the amount of $100,000 with an interest rate of 12% per annum and due May 31, 2014. The note is unsecured, convertible into shares of our common stock at a conversion price of $0.03 any time during the life of the note. Also, 3,333,333 fully vested warrants with a fair value of $90,106 were issued in connection with this note. The warrants are exercisable at $0.07/share and will expire in 3 years. The fair value of the warrants was recorded as a note discount and was being amortized to interest expense over the term of the note. As of June 30, 2013, the outstanding balance of note amounted to $100,000 less unamortized note discount of $55,174 resulting in a net balance of $44,826.

On December 2, 2013 the $100,000 Note was converted into 3,333,333 shares of the Company's common stock and the unamortized balance of the note discount of $55,174 was recognized as interest expense.

 

 

 

   
Debt Instrument, Maturity Date May 13, 2014    
Conversion Price, per share   $ 0.03  
Warrants issued in connection with note   3,333,333  
Unamortized note discount   0 55,174
Interest payable   0  
Interest expense $ 55,174