XML 36 R13.htm IDEA: XBRL DOCUMENT v2.4.1.9
Subsequent Events
9 Months Ended
Mar. 31, 2015
Subsequent Events [Abstract]  
Subsequent Events

NOTE 8 – Subsequent Events


In April 2015, the Company was awarded $65,000 for attorney's fees related to the appeal of a binding arbitration ruling by a former distributor.  The Company is pursuing collection of this award.


Since April 1, 2015, the Company has received 2 advances under the secured convertible line of credit agreement totaling $350,000 at conversion rates between $0.24 and $0.29 per share and has issued two year warrants to purchase 643,237 shares of common stock at an exercise price of $2.00 per share to its president and principal shareholder.


In April 2015, the Company issued 6,230 shares of common stock to a consultant in exchange for services valued at $1,089.


In April 2015, the Company issued 249,688 shares of common stock in exchange for $100,000 in a private placement with an accredited investor.


In April 2015, the Company issued ten year warrants to purchase 100,000 shares of common stock at an exercise price of $0.50 per share in connection with a marketing consulting agreement. The options vest 25% immediately, with remainder vesting equally at the end of each calendar quarter over the remainder of 2015, subject to the consultant remaining employed as a consultant.