5. Land, Property and Equipment

6 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

LAND, PROPERTY AND EQUIPMENT

Land, Property and Equipment at December 31, 2012 and June 30, 2012 consist of the following:

		June 30, 2012		Additions		Transfers		Dec. 31, 2012
Land and improvements	$	1,383,400	$	10,000	$	-	$	1,393,400
Office furniture and equipment		48,700		2,600		-		51,300
Water disposal facility		-		-		2,668,100		2,668,100
Production equipment		79,500		118,600		-		198,100
Construction in progress		2,056,100		730,000		(2,668,100)		118,000
Total		3,567,700		861,200		-		4,428,900
Less accumulation depreciation		(43,100)		(58,300)		-		(101,400)
Net book value	$	3,524,600	$	802,900	$	-	$	4,327,500