Annual report pursuant to section 13 and 15(d)

EXTINGUISHMENT OF LICENSE PAYABLE

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EXTINGUISHMENT OF LICENSE PAYABLE
12 Months Ended
Jun. 30, 2013
EXTINGUISHMENT OF LICENSE PAYABLE [Abstract]  
EXTINGUISHMENT OF LICENSE PAYABLE
NOTE 11  – EXTINGUISHMENT OF LICENSE PAYABLE

During the year ended June 30, 2013, the Company reached a mutual agreement with a counter party under which $160,000, previously reported as a license payable, was not longer due. Accordingly, the Company has removed this amount from its balance sheet and recorded the related gain on the extinguishment of the license payable.