Annual report pursuant to section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.6
Income Taxes (Tables)
 12 Months Ended
Jun. 30, 2012
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The actual tax benefit differs from the expected tax benefit for the periods ended June 30, 2012 and 2011 (computed by applying the U.S. Federal Corporate tax rate of 34% to income before taxes and a state rate of 10%, due to the Company being headquartered in Israel, for a blended rate of 40.6%) approximately as follows:

 

    June 30, 2012     June 30, 2011  
Expected tax expense (benefit) - Federal   $ (15,000 )   $ (13,000 )
Expected tax expense (benefit) - State     (5,000 )     (4,000 )
Stock issued for services     3,000       10,000  
Impairment Loss     1,000       -  
Change in valuation allowance     16, 000       7,000  
Actual tax expense (benefit)   $ -     $ -  
Schedule Of Significant Deferred Tax Asset Table Text Block

Significant deferred tax assets at June 30, 2012 and 2011 are approximately as follows:

 

    June 30, 2012     June 30, 2011  
Net operating loss carryforwards   $ 24,000     $ 7,000  
Total deferred tax assets     24,000       7,000  
Less: valuation allowance     (24,000 )     (7,000 )
Net deferred tax asset recorded   $ -     $ -