Note 14 - Subsequent Events

12 Months Ended

Jun. 30, 2013

Notes

Note 14 - Subsequent Events

NOTE 14 – Subsequent Events

On July 10, 2013 the Company announced the election of Peter Opata as a new director and Allan Kronborg, as an advisory board member and also as a business consultant to the Company. On July 31, 2013, as part of our board of director’s compensation plan, we granted non-qualified options to our four outside directors and Mr. Kronborg as follows:

Name	Grant Date	Option Shares	Exercise Price	Years to Exercise
James Jensen	July 10, 2013	40,000	$0.32	5
Rene Mikkelsen	July 10, 2013	30,000	$0.32	5
Soren Jonassen	July 10, 2013	30,000	$0.32	5
Peter Opata	July 10, 2013	30,000	$0.32	5
Allan Kronborg	July 10, 2013	30,000	$0.32	5

The exercise price, $0.32 per share, for these options was based on the volume weighted average price per share, for the previous five trading days from the Grant Date of the Company’s common stock.

On August 19, 2013 the board of directors of the Company elected Mr. Allan Kronborg as the Chief Executive Officer (CEO).  We also granted non-qualified options to our four senior managers as follows:

Name	Grant Date	Option Shares	Exercise Price	Years to Exercise
Allan Kronborg	August 19, 2013	2,000,000	$0.68	5
Robert Bench	August 19, 2013	2,000,000	$0.68	5
Lars Nielsen	August 19, 2013	1,000,000	$0.68	5
Stephen Abu	August 19, 2013	1,000,000	$0.68	5

The exercise price, $0.68 per share, for these options was based on the volume weighted average price per share, for the previous five trading days from Grant Date of the Company’s common stock.