Income Taxes (Tables)

12 Months Ended

Jun. 30, 2012

Tables/Schedules (Detail level 3):

Operating and Capital Losses

Operating and Capital Losses
Federal Expiration	Amount
2027	$      24,000
2028	812,000
2029	262,000
2030	1,068,000
2031	3,897,000
2032	318,000
Total	$ 6,381,000

Schedule of Deferred Tax Assets and Liabilities

	June 30, 2012	June 30, 2011
Current Deferred tax asset:
Payroll & vacation accruals	$       340,000	$       (380,088)
Non-Current Deferred tax asset:
Net operating losses	318,000	4,657,246
Non-statutory stock compensation	-	380,000
Net Deferred Tax Asset	$    658,000	$    3,897,158

Schedule of Components of Income Tax Expense (Benefit)

	Estimated NOL & Timing Differences	Estimated Tax Benefit from Loss	Valuation Allowance	Change in Valuation Allowance	Net Tax Benefit
June 30, 2011	6,063,000	2,273,625	(2,273,625)	(1,461,375)	0
June 30, 2012	6,721,000	2,530,225	(2,530,225)	(256,600)	0

Schedule of Effective Income Tax Rate Reconciliation

	June 30, 2012	June 30, 2011
Federal Statutory Rate	34.00%	34.00%
Effects of:
State Income Taxes	5.00%	3.50%
Change in Valuation Allowance	-39.00%	-37.50%
Effective Tax Rate	0.00%	0.00%