XML 34 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statement of Cash Flows (USD $)
3 Months Ended 12 Months Ended 15 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Mar. 31, 2012
Jun. 30, 2012
Cash flows from operating activities:        
Net loss $ (413,937) $ (13,842) $ (2,323,551) $ (2,737,488)
Adjustments to reconcile net loss to net cash used in operating activities        
Depreciation expense 218      218
Amortization expense 267    801 1,068
Common shares issued for compensation       750,000 750,000
Common shares issued for director services earned during the period 93,750    187,500 281,250
Common shares issued for outside services       90,725 90,725
Changes in operating assets and liabilities:        
Accounts receivable (280)      (280)
Prepaid expenses 152,266    (168,874) (16,608)
Security deposit       (15,000) (15,000)
Accounts payable (46,575) 9,926 141,530 94,955
Accounts payable - related parties       20,220 20,220
Accrued expenses 3,440 (5,690) (1,290) 2,150
Accrued interest 11,438 9,506 38,589 50,027
Net cash used in operating activities (199,413) (100) (1,279,350) (1,478,763)
Cash flows from investing activities:        
Purchases of property, plant and equipment (1,323)    (3,036) (4,359)
Website development costs       (5,315) (5,315)
Cash received from reverse acquisition    3,198 3,199 3,199
Net cash provided by (used in) investing activities (1,323) 3,198 (5,152) (6,475)
Cash flows from financing activities:        
Advances from president and stockholder 2,100    200 2,300
Proceeds from issuance of convertible notes 200,000 350,000 1,200,000 1,400,000
Proceeds from sale of common stock       100,000 100,000
Net cash provided by financing activities 202,100 350,000 1,300,200 1,502,300
Net change in cash 1,364 353,098 15,698 17,062
Cash at beginning of period 15,698         
Cash at end of period 17,062 353,098 15,698 17,062
Supplemental disclosure of cash flows information:        
Interest paid            
Income tax paid            
Non-cash investing and financing activities:        
Issuance of common stock for conversion of convertible notes    500,000 500,000   
Interest paid in stock    $ 23,068 $ 23,068