Agreements	3 Months Ended
Dec. 31, 2011
Notes to Financial Statements
Agreements	H. AGREEMENTS During the quarter ended September 30, 2011, the Company signed a 5-year agreement with Antero Payment Solutions for the use of each others’ technologies among other things and to promote and market each others’ prepaid debit card programs. Under the terms of the agreement the Company received $25,000 as an up front license fee, which the Company has reflected as deferred revenue to be amortized over the term of the agreement. The agreement has a 5-year automatic renewal clause unless terminated by a written consent of both parties. During the six months ended December 31, 2011, the Company recognized revenue of $1,583 relating to this agreement. As of December 31, 2011, the balance remaining to be recognized was $23,417. The Company also signed a 5-year strategic agreement with National Identity Solutions (NIS) for the promotion and marketing of the Company’s prepaid debit card program and NIS’ identity theft solutions. The agreement requires NIS to pay an up front license fee of $250,000 of which $125,000 was paid as of September 30, 2011 with the remaining balance of $125,000 paid as of December 31, 2011. Both payments have been reflected as deferred revenue to be amortized over the term of the agreement. The agreement automatically renews annually unless terminated by either party. During the six months ended December 31, 2011, the Company recognized revenue of $9,653 relating to this agreement. As of December 31, 2011, the balance remaining to be recognized was $240,347. I. Subsequent Events Subsequent to the quarter ended December 31, 2011, the Company received $200,000 from National Identify Solutions for an order for the supply of 50,000 of its Visa branded debit cards. On January 16, 2012, the Company entered into a Demand Promissory Note with 3 unrelated parties for $500,000 with interest at 5% per annum due on January 16, 2013. As of February 9, 2012, $250,000 of this note was funded by the above parties. As a guarantee of the note, the lenders reserve the right to exercise their option of purchasing 1,600,000 shares of common stock at a price of $0.40 per share anytime within the one year period of the loan. The 1,600,000 shares of common stock are to be provided by existing shareholders.

Agreements

3 Months Ended

Dec. 31, 2011

H. AGREEMENTS

During the quarter ended September 30, 2011, the Company signed a 5-year agreement with Antero Payment Solutions for the use of each others’ technologies among other things and to promote and market each others’ prepaid debit card programs. Under the terms of the agreement the Company received $25,000 as an up front license fee, which the Company has reflected as deferred revenue to be amortized over the term of the agreement. The agreement has a 5-year automatic renewal clause unless terminated by a written consent of both parties. During the six months ended December 31, 2011, the Company recognized revenue of $1,583 relating to this agreement. As of December 31, 2011, the balance remaining to be recognized was $23,417.

The Company also signed a 5-year strategic agreement with National Identity Solutions (NIS) for the promotion and marketing of the Company’s prepaid debit card program and NIS’ identity theft solutions. The agreement requires NIS to pay an up front license fee of $250,000 of which $125,000 was paid as of September 30, 2011 with the remaining balance of $125,000 paid as of December 31, 2011. Both payments have been reflected as deferred revenue to be amortized over the term of the agreement. The agreement automatically renews annually unless terminated by either party. During the six months ended December 31, 2011, the Company recognized revenue of $9,653 relating to this agreement. As of December 31, 2011, the balance remaining to be recognized was $240,347.

I. Subsequent Events

Subsequent to the quarter ended December 31, 2011, the Company received $200,000 from National Identify Solutions for an order for the supply of 50,000 of its Visa branded debit cards. On January 16, 2012, the Company entered into a Demand Promissory Note with 3 unrelated parties for $500,000 with interest at 5% per annum due on January 16, 2013. As of February 9, 2012, $250,000 of this note was funded by the above parties. As a guarantee of the note, the lenders reserve the right to exercise their option of purchasing 1,600,000 shares of common stock at a price of $0.40 per share anytime within the one year period of the loan. The 1,600,000 shares of common stock are to be provided by existing shareholders.

- Definition

Tabular disclosure, as of the most recent balance sheet date, of the amount at risk under resale agreements (reverse repurchase agreements) with any individual counterparty or group of related counterparties that exceeds 10 percent of stockholders' equity. Disclosure may include: the name of each such counterparty or group of related counterparties, the amount at risk with each, and the weighted average maturity of the resale agreements with each. The amount at risk under resale agreements is defined as the excess of carrying amount over market value of assets delivered pursuant to the agreements by the counterparty to the registrant (or to a third party agent that has affirmatively agreed to act on behalf of the registrant) and not returned to the counterparty, except in exchange for their approximate market value in a separate transaction.

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