RELATED PARTY TRANSACTIONS

12 Months Ended

Jun. 30, 2012

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

Various expenses of the Company as well as loans for operating purposes have been paid for or made by officers of the Company. Loans payable – related parties total $25,000 and $68,691 as of June 30, 2012 and June 30, 2011, respectively. The June 30, 2011 loans payable- related parties balance is included in liabilities of discontinued operations. On September 26, 2011, principle of $69,351 and accrued interest of $12,211 was transferred to the buyer of the Company’s two subsidiaries (see Note 5). These amounts included all notes payable and accrued interest outstanding as of June 30, 2011. During the year ended June 30, 2012, the Company borrowed $25,000 from the Company’s sole officer and director. The amounts do not bear interest, are due on demand, and are unsecured.

Effective July 12, 2011, office space is provided by the Company’s sole officer and director. No rent is charged for the use of the space.