General form of registration statement for all companies including face-amount certificate companies

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Sep. 30, 2013
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2011
Current assets        
Cash $ 744 $ 527 $ 25,878 $ 646
Note receivable - related party 163,829 163,829 832,454 407,004
Interest receivable - related party 6,795 3,341 31,547 7,111
Inventory 223,000 223,000 0 0
Due from related party 60,919 183,346 0 0
Deferred financing, net 70,529 146,037 76,507 51,028
Other current assets 50,218 95,469 102,175 100,000
Total current assets 576,034 815,549 1,068,561 565,789
Non-current assets        
Fixed assets 275,717 275,717 0 0
Intangibile assets, net 11,819 12,705 0 0
Total non-current assets 287,536 288,422 0 0
Total Assets 863,570 1,103,971 1,068,561 565,789
Current liabilities:        
Accounts payable and accrued expenses 408,884 188,346 107,022 186,764
Accounts payable and accrued expenses - related party 953,701 807,001 2,140 2,140
Convertible notes payable 3,732,500 3,732,500 2,138,188 1,160,814
Interest payable 469,884 380,575 110,124 51,817
Warrant derivative liability 115,026 157,761 0 0
Total current liabilities 5,679,995 5,266,183 2,357,474 1,401,535
Non-current liabilities:        
Convertible notes payable, less current portion   0 0 54,958
Total non-current liabilities   0 0 54,958
Total liabilities   5,266,183 2,357,474 1,456,493
Commitments and Contingencies (Note 10)            
Stockholders' deficit:        
Preferred stock, $0.001 par value; 20,000,000 shares authorized; none issued and outstanding 0 0 0 0
Common stock 40,000 40,000 35,284 35,284
Common stock subscribed   0 (35,284) (35,284)
Additional paid-in capital 3,979,576 3,814,258 100 100
Deficit accumulated during the development stage (8,836,001) (8,016,470) (1,289,013) (890,804)
Total stockholders' deficit (4,816,425) (4,162,212) (1,288,913) (890,704)
Total Liabilities and Stockholders' Deficit $ 863,570 $ 1,103,971 $ 1,068,561 $ 565,789