Derivative Liabilities (Tables)

12 Months Ended

Jun. 30, 2013

Derivative Liabilities Tables

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

The derivative liabilities were valued using the weighted-average Black-Scholes-Merton option pricing model using the assumptions detailed below. The results of initial valuation were summarized as follows:

Grant Date	Derivative Liabilities	Dividend Yield	Expected Volatility	Risk Free Rate	Expected Term	Fair Value as of  Grant Date
8/17/2012	Conversion Feature	0%	280%	0.14%	0.50	$             10,500
	$0.01 Warrant	0%	230%	0.29%	2.00	2,063
	$0.50 Warrant	0%	230%	0.29%	2.00	1,088
8/24/2012	Conversion Feature	0%	293%	0.13%	0.50	9,500
	$0.01 Warrant	0%	236%	0.28%	2.00	1,875
	$0.50 Warrant	0%	236%	0.28%	2.00	975
9/9/2012	Conversion Feature	0%	310%	0.14%	0.50	37,600
	$0.01 Warrant	0%	243%	0.25%	2.00	6,200
	$0.50 Warrant	0%	243%	0.25%	2.00	3,420
9/13/2012	Conversion Feature	0%	300%	0.13%	0.50	35,000
	$0.01 Warrant	0%	242%	0.24%	2.00	6,250
	$0.50 Warrant	0%	242%	0.24%	2.00	3,450
9/18/2012	Conversion Feature	0%	303%	0.13%	0.50	13,500
	$0.01 Warrant	0%	244%	0.25%	2.00	2,500
	$0.50 Warrant	0%	244%	0.25%	2.00	1,350
9/18/2012	Conversion Feature	0%	303%	0.13%	0.50	13,500
	$0.01 Warrant	0%	244%	0.25%	2.00	2,500
	$0.50 Warrant	0%	244%	0.25%	2.00	1,350
9/18/2012	Conversion Feature	0%	303%	0.13%	0.50	13,500
	$0.01 Warrant	0%	244%	0.25%	2.00	2,500
	$0.50 Warrant	0%	244%	0.25%	2.00	1,350
9/27/2012	Conversion Feature	0%	307%	0.14%	0.50	23,000
	$0.01 Warrant	0%	245%	0.25%	2.00	3,875
	$0.50 Warrant	0%	245%	0.25%	2.00	2,138
10/5/2012	Conversion Feature	0%	307%	0.15%	0.50	7,400
	$0.01 Warrant	0%	243%	0.27%	2.00	1,275
	$0.50 Warrant	0%	243%	0.27%	2.00	705
10/25/2012	Conversion Feature	0%	331%	0.16%	0.50	25,500
	$0.01 Warrant	0%	252%	0.31%	2.00	4,000
	$0.50 Warrant	0%	252%	0.31%	2.00	2,250
10/31/2012	Conversion Feature	0%	336%	0.16%	0.50	37,000
	$0.01 Warrant	0%	253%	0.30%	2.00	5,625
	$0.50 Warrant	0%	253%	0.30%	2.00	3,188
11/27/2012	Conversion Feature	0%	308%	0.15%	0.50	42,000
	$0.01 Warrant	0%	253%	0.27%	2.00	8,000
	$0.50 Warrant	0%	253%	0.27%	2.00	4,350
12/21/2012	Conversion Feature	0%	290%	0.12%	0.50	112,000
	$0.01 Warrant	0%	251%	0.26%	2.00	18,750
	$0.50 Warrant	0%	251%	0.26%	2.00	10,500
1/31/2013	Conversion Feature	0%	273%	0.12%	0.50	21,000
	$0.01 Warrant	0%	266%	0.27%	2.00	3,750
	$0.50 Warrant	0%	266%	0.27%	2.00	2,138
					Total fair value	$            508,413

As of June 30, 2013, The derivative liabilities were valued using the weighted-average Black-Scholes-Merton option pricing model using the assumptions detailed below. The results of year--end valuation were summarized as follows:

Grant Date	Derivative Liabilities	Dividend Yield	Expected Volatility	Risk Free Rate	Expected Term	Fair Value as of  June 30, 2013
8/17/2012	Conversion Feature	0%	88%	0.15%	0.88	$            12,500
	$0.01 Warrant	0%	232%	0.15%	1.13	2,313
	$0.50 Warrant	0%	232%	0.15%	1.13	1,088
8/24/2012	Conversion Feature	0%	65%	0.15%	0.65	7,000
	$0.01 Warrant	0%	251%	0.15%	1.15	2,313
	$0.50 Warrant	0%	251%	0.15%	1.15	1,125
9/9/2012	Conversion Feature	0%	94%	0.15%	0.94	20,000
	$0.01 Warrant	0%	248%	0.15%	1.19	3,700
	$0.50 Warrant	0%	248%	0.15%	1.19	1,800
9/13/2012	Conversion Feature	0%	71%	0.15%	0.71	16,000
	$0.01 Warrant	0%	232%	0.15%	1.13	4,625
	$0.50 Warrant	0%	232%	0.15%	1.13	2,175
9/18/2012	Conversion Feature	0%	97%	0.15%	0.97	13,000
	$0.01 Warrant	0%	245%	0.15%	1.22	2,313
	$0.50 Warrant	0%	245%	0.15%	1.22	1,125
9/18/2012	Conversion Feature	0%	97%	0.15%	0.97	13,000
	$0.01 Warrant	0%	245%	0.15%	1.22	2,313
	$0.50 Warrant	0%	245%	0.15%	1.22	1,125
9/18/2012	Conversion Feature	0%	97%	0.15%	0.97	13,000
	$0.01 Warrant	0%	245%	0.15%	1.22	2,313
	$0.50 Warrant	0%	245%	0.15%	1.22	1,125
9/27/2012	Conversion Feature	0%	121%	0.15%	1.21	15,000
	$0.01 Warrant	0%	244%	0.15%	1.24	2,313
	$0.50 Warrant	0%	244%	0.15%	1.24	1,125
10/5/2012	Conversion Feature	0%	85%	0.15%	0.85	4,600
	$0.01 Warrant	0%	243%	0.15%	1.27	925
	$0.50 Warrant	0%	243%	0.15%	1.27	465
10/25/2012	Conversion Feature	0%	90%	0.15%	0.90	12,500
	$0.01 Warrant	0%	245%	0.15%	1.32	2,313
	$0.50 Warrant	0%	245%	0.15%	1.32	1,163
10/31/2012	Conversion Feature	0%	84%	0.15%	0.84	11,500
	$0.01 Warrant	0%	244%	0.15%	1.34	2,313
	$0.50 Warrant	0%	244%	0.15%	1.34	1,163
11/27/2012	Conversion Feature	0%	91%	0.15%	0.91	50,000
	$0.01 Warrant	0%	240%	0.15%	1.41	9,250
	$0.50 Warrant	0%	240%	0.15%	1.41	4,650
12/21/2012	Conversion Feature	0%	98%	0.15%	0.98	52,000
	$0.01 Warrant	0%	237%	0.15%	1.48	9,250
	$0.50 Warrant	0%	237%	0.15%	1.48	4,650
1/31/2013	Conversion Feature	0%	108%	0.15%	1.08	14,000
	$0.01 Warrant	0%	224%	0.15%	1.08	2,313
	$0.50 Warrant	0%	224%	0.15%	1.08	1,013
					Total fair value	$         326,452