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NOTE 8 - SUBSEQUENT EVENTS
6 Months Ended
Dec. 31, 2012
Subsequent Events [Text Block]
NOTE 8 – SUBSEQUENT EVENTS

At the Annual Stockholder’s Meeting, held on December 4, 2012, the stockholders voted to amend the Company’s Article of Incorporation to increase the number of authorized shares of common stock from 40,000,000 shares to 55,000,000 shares.  On January 28, 2013, the Nevada Secretary of State accepted the Company’s filing of a Certificate of Amendment to increase the authorized number of common stock shares. As of this filing, 835,000 shares of the convertible preferred stock have automatically converted into common stock.  We are in the process of exchanging the convertible preferred stock certificates for common stock certificates.

In January 2013, the Company redeemed for cash $50,000 of the secured convertible promissory notes (the ”Notes) and extended the maturity date on $100,000 of the Notes to April 30, 2013.

As of this filing, the Company has received an additional $335,000 in cash proceeds from the sale of the unsecured notes and related short-term borrowings.

 Management has evaluated subsequent events per the requirements of Topic 855 and has determined that there are no additional subsequent events to be reported.