Annual report pursuant to Section 13 and 15(d)

Fixed Assets

v2.4.0.8
Fixed Assets
12 Months Ended
Jun. 30, 2014
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
Note 6 Fixed Assets
 
The following is a summary of fixed assets and accumulated depreciation:
 
 
 
Useful
 
 
 
 
 
 
 
 
 
Life
 
June 30, 2014
 
June 30, 2013
 
Furniture and fixtures
 
 
5 - 7 years
 
$
6,728
 
$
-
 
Lab equipment
 
 
3 - 15 years
 
 
315,951
 
 
275,717
 
Construction in process
 
 
-
 
 
23,012
 
 
-
 
 
 
 
 
 
 
345,691
 
 
275,717
 
Less: accumulated depreciation
 
 
 
 
 
(7,759)
 
 
-
 
 
 
 
 
 
$
337,932
 
$
275,717
 
 
Depreciation expense was $7,759 and none for the years ended June 30, 2014 and 2013, respectively.