XML 19 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
Subsequent Events
12 Months Ended
Jun. 30, 2013
Subsequent Events  
NOTE 12 - SUBSEQUENT EVENTS

Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855 and has determined that other than listed below, no other material subsequent events exist.

 

  1. In July and August of 2013, the Company received $100,000 from a convertible promissory note.  The note is non-interest bearing and converts into common stock at a 50% discount to market.

 

  2. In September 2013, the Company issued 101,000,000 shares to Victor Castano pursuant to the executed asset purchase agreement on October 12, 2012.

 

  3. On October 1, 2013 the Company board of directors approved a board resolution authorizing the Company to issue a total of 15,000,000 stock options; 2,000,000 of these options were issued to four consultants for services to the Company.  The options begin vesting on October 1, 2013 and terminate October 1, 2015.  The stock options have an option price of $0.40 per share.