6. Income taxes (Tables)

12 Months Ended

Jun. 30, 2012

Income Tax Disclosure [Abstract]

Provisions for income taxes

	2012		2011
Current Tax Provision:
Federal and state
Taxable income	$	-	$	-
Total current tax provision	$	-	$	-
Deferred Tax Provision:
Federal and state
Net loss carryforwards	$	(7,836,000)	$	(3,719,000)
Change in valuation allowance		7,836,000		3,719,000
Total deferred tax provision	$	-	$	-

Deferred tax assets at June 30, 2012 and 2011 consisted of the following:

			2012		2011
Deferred tax assets:
	Net operating loss carryforwards	$	3,158,000	$	1,499,000
Valuation allowance			(3,158,000)		(1,499,000)
Net deferred tax assets		$	-	$	-

Reconciliation of the expected tax benefit computed at the U.S. federal and state statutory income tax rates to our tax benefit

	Years ended June 30,
		2012				2011
Federal income tax rate at 34%	$		(2,664,000)	34.0  %	$		(1,265,000)	34.0  %
State income tax, net of federal benefit			(494,000)	6.3  %			(234,000)	6.3  %
Change in valuation allowance			3,158,000	(40.3) %			1,499,000	(40.3) %
Benefit for income taxes	$		-	-  %	$		-	-  %