Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Sep. 30, 2013
Jun. 30, 2013
Current assets    
Cash $ 744 $ 527
Note receivable - related party 163,829 163,829
Interest receivable - related party 6,795 3,341
Inventory 223,000 223,000
Due from related party 60,919 183,346
Deferred financing, net 70,529 146,037
Other current assets 50,218 95,469
Total current assets 576,034 815,549
Non-current assets    
Fixed assets 275,717 275,717
Intangible assets, net 11,819 12,705
Total non-current assets 287,536 288,422
Total Assets 863,570 1,103,971
Current liabilities:    
Accounts payable and accrued expenses 408,884 188,346
Accounts payable and accrued expenses - related party 953,701 807,001
Convertible notes payable 3,732,500 3,732,500
Interest payable 469,884 380,575
Warrant derivative liability 115,026 157,761
Total current liabilities 5,679,995 5,266,183
Commitments and Contingencies (Note 10)      
Stockholders' deficit:    
Preferred stock, $0.001 par value; 20,000,000 shares authorized; none issued and outstanding 0 0
Common stock, $0.001 par value, 200,000,000 shares authorized; 40,000,000 shares issued and outstanding, September 30, 2013 and June 30, 2013 40,000 40,000
Additional paid-in capital 3,979,576 3,814,258
Deficit accumulated during the development stage (8,836,001) (8,016,470)
Total stockholders' deficit (4,816,425) (4,162,212)
Total Liabilities and Stockholders' Deficit $ 863,570 $ 1,103,971