NOTE 5 - UNSECURED NOTES PAYABLE TO RELATED PARTIES

9 Months Ended

Mar. 31, 2013

Debt Disclosure [Abstract]

UNSECURED NOTES PAYABLE TO RELATED PARTIES

NOTE 5 – UNSECURED NOTES PAYABLE TO RELATED PARTIES

The unsecured notes payable to present and past affiliates of the Company are related to legal fees, director fees, and unpaid salaries, from previous periods, that were converted into 12% unsecured notes payable with a maturity date of June 30, 2012. The notes were not paid at maturity, therefore the interest rate increased to 15% per annum. No affiliate has demanded payment. These notes consist of the following:

Note Holder	Amount
ClearWater Law and Governance Group, LLC	$     3,783
James U Jensen	7,117
John M Knab	5,500
John D Thomas	6,000
Robert K Bench	24,500
Robyn Farnsworth	15,000
Total	$   61,900

Additional accrued but unpaid director fees and unpaid salaries for the period ending December 31, 2012 were converted into 12% unsecured notes payable, at December 31, 2012. These new notes had a maturity date of March 31, 2013, but were not paid at maturity. These new notes consist of the following:

Note Holder	Amount
Lars Nielsen	$     50,000
James U Jensen	24,843
Soren Jonassen	12,900
Stephen Abu	27,000
Rene Mikkelsen	17,800
Robert K Bench	60,500
Robyn Farnsworth	25,250
Total	$   218,293