Warrants

9 Months Ended

Mar. 31, 2014

Warrants

Note 9 - Warrants

During the quarter ended March 31, 2014, the Company issued 2,333,334 warrants in connection with the financing addressed in Note 8.The warrants can be purchased at $0.15 per share. The Company reported $257,075 of expense during the quarter ended March 31, 2014 related to the warrant issuance. The expense of these warrants was calculated using the Black-Scholes option pricing model using the following assumptions:

Dividend yield		0
Expected volatility		1.57	%
Risk free interest		1.00	%
Expected life	2 years