STOCKHOLDERS DEFICIT

12 Months Ended

Jun. 30, 2012

Equity [Abstract]

STOCKHOLDERS DEFICIT

Stock Split

Effective August 3, 2011, the Company’s board of directors and a majority of the Company’s stockholders approved a 90 for 1 forward split of the Company’s common stock. All share figures and results are reflected in the Company’s financial statements on a post-split basis.

Authorized Shares

Effective June 22, 2010, the Company’s board of directors and a majority of the Company’s stockholders approved an amendment to the Company’s Certificate of Incorporation to increase the total authorized common stock of the Company from 100,000,000 shares to 500,000,000 shares.

Effective June 1, 2012, the Company’s board of directors and a majority of the Company’s stockholders approved an amendment to the Company’s Certificate of Incorporation to increase the total authorized common stock of the Company from 500,000,000 shares to 1,000,000,000 shares.

Preferred Stock

The Company has designated 10,000,000 shares of the Company’s authorized capital stock as preferred stock with the Board of Directors authorized to fix the number of shares of any series of preferred stock and to determine the designation of any such series, including the authority to determine the designation of any such series, including the authority to determine the rights, preferences, privileges and restrictions on any such series of preferred stock.

Issuances of Preferred Stock and Common Stock

On September 10, 2007, the Company issued 388,800,000 (4,320,000 pre-split) shares of its common stock to shareholders of MojoRepublik, LLC in exchange for all 1,080 membership units of MojoRepublik, LLC. At the time of acquisition, both entities were under common control and thus the acquisition was accounted for under FASB ASC 805 “Business Combinations” which requires that the assets and liabilities transferred be recorded at their carrying amounts at the date of transfer. Accordingly, the Company recorded the acquisition price as equal to the negative book value of MojoRepublik, LLC of $7,132 on the date of acquisition.

On October 31, 2007, the Company issued 80,640,000 (896,000 pre-split) shares of its common stock for cash proceeds of $26,880. The shares were part of a private placement that was approved in a board of directors meeting held September 14, 2007.

On May 21, 2012, the Company entered into a license and revenue sharing agreement whereby it has agreed to issue 91,200,000 shares of common stock (see Note 10). The shares were valued at $2,268 based on the estimated fair market value of the shares on the effective date of the agreement. As of June 30, 2012, the shares have not been issued. As such, the shares have been classified as common stock to be issued.