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12. NON-CASH FINANCING ACTIVITIES
12 Months Ended
Jun. 30, 2013
Supplemental Cash Flow Elements [Abstract]  
12. NON-CASH FINANCING ACTIVITIES

Common Stock Issued to Extinguish Debt and Liabilities

The Company issued 425,168 and 505,856 shares of Common Stock for conversion notes payable for the years ended June 30, 2013 and 2012 totaling $85,179 and $269,287, respectively.

 

Common Stock and Warrants Issued for Prepaid Services

The Company recorded prepaid services for the years ended June 30, 2013 and 2012 totaling $37,840 and $461,290, respectively.

 

Warrants and Beneficial Conversion Feature on Issuance of Convertible Debt

The Company recorded $1852,579 for beneficial conversion features in connection with the issuance of convertible debt for the year ended June 30, 2013. The Company recorded $388,443 and $253,294 for beneficial conversion features and warrants issued in connection with the issuance of convertible debt, respectively for the year ended June 30, 2012 totaling $641,737.

 

Common Stock Issued as Dividend on Preferred Stock

The Company issued -0- and 45,550 shares of Common Stock as dividends related to the Company’s preferred shares for the years ended June 30, 2013 and 2012 totaling $-0- and $23,072, respectively.