XML 26 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Agreement and Plan of Merger
6 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Agreement and Plan of Merger

 

Note 9 – Agreement and Plan of Merger

 

On August 8, 2011, we entered into the Merger Agreement. The Merger was to be completed upon the Company’s receipt of a minimum of $2,000,000 in funds from the private placement of our common stock, as required by the Merger Agreement. Proteus Energy Corporation was not able to raise the capital required by the Merger Agreement and on December 6, 2011 we gave Proteus Energy Corporation notice that we would no longer be under exclusivity to complete the Merger and we would continue to look for other merger opportunities.