Subsequent Events

9 Months Ended

Mar. 31, 2016

Subsequent Events

Subsequent Events

13. SUBSEQUENT EVENTS

Management has evaluated subsequent events according to the requirements of ASC TOPIC 855, and has reported the following events:

On April 1, 2016, the Company received an advance of $22,000, on the October 2015 Note.

On April 18, 2016, the Company entered into an unsecured promissory note (the “April 2016 Note”) in the amount of $500,000, at which time an initial advance of $35,500 was received to cover operational expenses. The April 2016 Note is payable upon demand, but in no case later than April 18, 2019.The April 2016 Note bears interest at a rate of 5% per year. On May 2, 2016, the Company received an additional advance of $41,000, on the April 2016 Note.