Annual report pursuant to section 13 and 15(d)

Acquisition of Assets (Tables)

v2.4.0.8
Acquisition of Assets (Tables)
12 Months Ended
Jun. 30, 2013
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
As the purchase was treated as an asset acquisition, the value assigned for the assets acquired was valued based on the estimated fair value of the assets and liabilities. The allocation of the price paid in cash is as follows:
 
 
Material inventory
 
$
223,000
 
Fixed assets
 
 
264,000
 
Intangible assets
 
 
13,000
 
 
 
$
500,000