Notes Payable:

9 Months Ended

Mar. 31, 2012

Notes to Financial Statements

Notes Payable:

10. Notes Payable

In conjunction with the acquisition described in footnote number 3, the Company issued a $230,000 promissory note bearing interest at 3.25% payable in 36 equal monthly installments of $6,700 with the last payment due October 2014. As of March 31, 2012 the current and long-term portions of the note were $75,200 and $124,200, respectively.