PREFERRED DIVIDENDS (Tables)

3 Months Ended

Dec. 31, 2012

Preferred Dividends

Pro forma effect of a Dividend Adjustment

The pro-forma effect of a Dividend Adjustment for the six months ended December 31, 2012 is shown in the table below: 

	Six Months Ended December 31, 2012						Variance
	As Reported			Pro-forma			Dollars			Percent
Dividends on Series A Preferred		$	252,123		$	342,816		$	90,693		36.0	%
Net loss applicable to common shareholders		$	(358,749)		$	(449,442)		$	(90,693)		25.4	%
Basic and diluted loss per share		$	(0.03)		$	(0.04)		$	(0.01)