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Notes Payable

12 Months Ended

Jun. 30, 2013

NOTE 5

NOTE PAYABLE

During March 2012 the Company borrowed $15,000 pursuant to a note bearing interest at 10% per annum, payable interest only until March 1, 2015, when the principal balance is due.

During the year ended June 30, 2013, the Company borrowed an aggregate of $265,000 pursuant to notes bearing interest at 10% per annum and due 48 months from the dates of the notes, payable interest only until the due dates during the year ended June 30, 2017, when the principal is due.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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