OTHER CURRENT ASSETS

3 Months Ended

Sep. 30, 2011

Disclosure Text Block Supplement [Abstract]

Other Assets Disclosure [Text Block]

NOTE 5 – OTHER CURRENT ASSETS

Other current assets are comprised of the following:

	September 30, 2011		June 30, 2011
Advancement	$	499,688	$	530,459
Prepaid insurance		275,000		6,667
Total	$	774,688	$	537,126

Advancement represents advances made to non-related parties and prepaid insurance to employees. The amounts were unsecured, interest free, and due on demand. Prepaid insurance is related to the underwriting of the Company’s directors and officers insurance policy.