Stockholder's equity

12 Months Ended

Jun. 30, 2014

Stockholders' Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 7 STOCKHOLDERS’ EQUITY

Common Stock includes 100,000,000 shares authorized at no par value.

During the year ended June 30, 2014, the Company issued common shares as follows:

The Company issued 1,343,150 shares of common stock for cash of $1,275,605.

On July 31, 2013, the Company’s registration statement on Form S-1 became effective. The Company is offering for sale a maximum of 6,250,000 shares of its no par value common stock at a price of $1.60 per share. As of June 30, 2014, 312,500 shares had been sold pursuant to the offering for cash of $500,000. These shares are included in the shares issued for cash described above.

The Company issued 47,967 shares of common stock for services, inducements and interest. These shares were valued at the trading price of the Company’s common shares on the date it was agreed the shares would be issued of $234,490 which has been charged to operations during the period.

The Company issued 200,000 shares of common stock for the conversion of a $200,000 note (see Note 6). The fair value of the shares in excess of the note of $84,000 has been charged to operations during the period.

The Company issued 54,950 common shares for services to be performed over a one year period, which were valued at their estimated fair value of $100,000 based on the trading price of the Company’s common shares. The value of these shares has been recorded as deferred compensation as a reduction of paid in capital and is being amortized over the one year period during which the related services will be received. At June 30, 2014 $83,333 of deferred compensation has been charged to operations.