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8. LAND, PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jun. 30, 2012

Property, Plant and Equipment [Abstract]

		2012		2011
Land and improvements	$	1,383,400	$	-
Office furniture and equipment		48,700		135,900
Production equipment		79,500		-
		1,511,600		135,900
Less accumulated depreciation		(43,100)		(129,200)
Construction in progress		2,056,100		-
Net book value	$	3,524,600	$	6,700

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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