SUBSEQUENT EVENTS

3 Months Ended

Sep. 30, 2011

SUBSEQUENT EVENTS

NOTE 13 SUBSEQUENT EVENTS

From October 1, 2011 to November 10, 2011, the Company issued 52,671 shares of its common stock to consultants for an aggregate value of $2,807 based on the quoted market price of the shares at time of issuance.

On October 3, 2011, the Company issued 655,492 shares of its common stock to holders of Series B Convertible Preferred Stock for accrued dividends of $60,000 through September 30, 2011.

Such issuances of securities of the Company were made pursuant to the exemptions from registration contained in Rule 4(2) of the Securities Act of 1933, as amended (the “Securities Act”).

On October 1, 2011, 250,000 warrants with an exercise price of $1.00 expired.

On October 4, 2011, the Company entered into an unsecured promissory note of $150,000 Canadian dollars with a director of the Company with a stated interest rate of 10%. The note is repayable within 14 days from a written notice of demand.