Commitments And Contingencies

12 Months Ended

Jun. 30, 2013

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies

10.   COMMITMENTS AND CONTINGENCIES

Operating Leases

During the year ended June 30, 2013, the Company leased approximately 5,251 square feet of office space at 6500 Hollister Avenue, Suite 120, Santa Barbara, California 93117 for approximately $8,046 per month, pursuant to a five year lease agreement which commenced on May 25, 2010. Because the landlord was able to rent the previous space quickly, the Company did not recognize a termination penalty for vacating the space early. On August 26, 2013, the Company signed a new two year lease commencing on October 1, 2013 for approximately 2,534 square feet of office space at 1933 Cliff Dr., Suite 11, Santa Barbara, California 93109 for approximately $4,308 per month. The following is a schedule, by years, of future minimum rental payments required under the operating lease. The new lease expires in 2015.

Years Ending June 30,		Rent Payment
	2014	$	63,393
	2015	$	53,760

Total lease expense for the years ended June 30, 2013 and 2012 was $151,148 and $152,198, respectively. The Company is also required to pay its pro rata share of taxes, building maintenance costs, and insurance in according to the lease agreement.

Legal Matters

The Company may be involved in legal actions and claims arising in the ordinary course of business, from time to time, none of which at the time are considered to be material to the Company’s business or financial condition.