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Note 4 - Property and Equipment

3 Months Ended

Sep. 30, 2014

NOTE 4 – PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

	September 30, 2014		June 30, 2014
Computer equipment	$	7,279	$	7,279
Website		15,257		15,257
Office furniture and equipment		103,525		103,525
Leasehold improvements		46,855		46,855
		172,916		172,916
Less accumulated depreciation and amortization		(111,68)		(96,171)
	$	61,235	$	76,745

	September 30, 2014	June 30, 2014
Product production molds	$ 173,882		$ 173,882
Less accumulated amortization	(130,770)		(116,279)
	$ 43,112		$ 57,603

Depreciation was $15,510 and $15,314 for the three months ended September 30, 2014 and 2013, respectively.

The Company also recorded amortization of products molds expense for the three months ended September 30, 2014 and 2013 of $14,490 and $14,490, respectively, as reflected in cost of goods sold on the accompanying Statement of Operations.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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