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Subsequent Events
9 Months Ended
Mar. 31, 2013
Subsequent Events:  
Subsequent Events

17. Subsequent Events

 

On April 16, the Company appointed and entered into agreement whereby Noel Guillama would be a director and Vice Chairman. Upon execution of the agreement Noel earned 3% of the Company’s then outstanding shares  calculated to be 2,598,000 shares of restricted common stock, valued at $129,900.

 

On May 1, 2013 the Company entered into an agreement with Tailor Made Business Solutions, PLLC (TMBS) to have them provide acting CFO services to the Company through the person of Tom Meola. Pursuant to this agreement, the Company will be paying TMBS a fee of $150,000 per annum with an advance of $25,000 with the remainder to be paid monthly. Additionally, the Company will be issuing TMBS 3,000,000 restricted shares of the Company’s common stock. These shares are considered earned at the time of executing this contract and are valued at $510,000.