Note 9 - Stockholders' Equity

12 Months Ended

Jun. 30, 2013

Notes

Note 9 - Stockholders' Equity

NOTE 9 – STOCKHOLDERS’ EQUITY

The Company's capitalization is 100,000,000 common shares authorized, with a par value of $0.0001 per share. At June 30, 2013, the Company had 18,708,841 common shares outstanding.

Preferred shares of 400,000 with a par value of $0.0001 have been authorized and no shares are issued or outstanding at June 30, 2013.

The Company conducted a private placement offering to a limited number of foreign investors under which the Company issued a total of 1,200,000 and 1,220,000 shares, of its common stock, at a price of fifty cents ($0.50) per share during the years ended June 30, 2013 and 2012, respectively.

The Company issued 500,000 shares of common stock, at the then current market price of $1.25 per share, as part of its Shai Hills lease acquisition costs during the year ended June 30, 2013.  The Company expensed this payment in the amount of $625,000, which is included in Lease acquisition costs in its financial statements.

During the quarter ended June 30, 2013, the Company issued 200,000 shares under a subscription agreement at $0.50 per share, for which the Company received the cash during July 2013.

On or about March 31, 2012, the Company issued 12,000,000 shares in the Share Exchange Agreement. On June 7, 2013, 366,000 shares relating to the exchange were returned to the Company and cancelled.  These shares were surrendered pursuant certain milestones not being met by one of the CPGL shareholders and as part of a negotiated mutual release.  See Note 5 – Recapitalization.