Derivative Liabilities (Tables)

6 Months Ended

Dec. 31, 2013

Derivative Liabilities Tables

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

As of December 31, 2013, the derivative liabilities were valued using the weighted-average Black-Scholes-Merton option pricing model using the assumptions detailed below. The Company recorded $154,452 income from changes in derivative liability during the six months ended September 30, 2013. The results of year--end valuation were summarized as follows:

Grant Date	Derivative Liabilities	Dividend Yield Term	Expected Volatility	Risk Free Rate	Expected	Fair Value as of 12/31/13
8/17/2012	Conversion Feature	0%	172%	0.19%	0.13	3,000
	$0.01 Warrant	0%	172%	0.19%	0.63	2,000
	$0.50 Warrant	0%	172%	0.19%	0.63	0
8/24/2012	Conversion Feature	0%	163%	0.19%	0.15	3,000
	$0.01 Warrant	0%	163%	0.19%	0.65	2,000
	$0.50 Warrant	0%	163%	0.00%	0.65	0
9/9/2012	Conversion Feature	0%	152%	0.19%	0.19	4,000
	$0.01 Warrant	0%	152%	0.19%	0.69	6,000
	$0.50 Warrant	0%	152%	0.00%	0.69	1,000
9/13/2012	Conversion Feature	0%	152%	0.19%	0.20	7,000
	$0.01 Warrant	0%	152%	0.19%	0.63	4,000
	$0.50 Warrant	0%	152%	0.19%	0.63	1,000
9/18/2012	Conversion Feature	0%	150%	0.19%	0.21	3,000
	$0.01 Warrant	0%	150%	0.19%	0.72	2,000
	$0.50 Warrant	0%	150%	0.00%	0.72	0
9/18/2012	Conversion Feature	0%	150%	0.19%	0.21	3,000
	$0.01 Warrant	0%	150%	0.19%	0.72	2,000
	$0.50 Warrant	0%	150%	0.00%	0.72	0
9/18/2012	Conversion Feature	0%	150%	0.19%	0.21	3,000
	$0.01 Warrant	0%	150%	0.19%	0.72	2,000
	$0.50 Warrant	0%	150%	0.19%	0.72	0
9/27/2012	Conversion Feature	0%	144%	0.19%	0.24	3,000
	$0.01 Warrant	0%	144%	0.19%	0.74	3,000
	$0.50 Warrant	0%	144%	0.00%	0.74	1,000
10/5/2012	Conversion Feature	0%	144%	0.19%	0.26	1,000
	$0.01 Warrant	0%	144%	0.19%	0.76	1,000
	$0.50 Warrant	0%	144%	0.00%	0.76	0
10/25/2012	Conversion Feature	0%	118%	0.19%	0.32	3,000
	$0.01 Warrant	0%	118%	0.19%	0.82	4,000
	$0.50 Warrant	0%	118%	0.19%	0.82	1,000
10/31/2012	Conversion Feature	0%	174%	0.19%	0.84	10,000
	$0.01 Warrant	0%	174%	0.19%	0.83	5,000
	$0.50 Warrant	0%	174%	0.00%	0.83	2,000
11/27/2012	Conversion Feature	0%	118%	0.19%	2.50	11,000
	$0.01 Warrant	0%	174%	0.19%	2.50	5,000
	$0.50 Warrant	0%	174%	0.00%	2.50	2,000
12/21/2012	Conversion Feature	0%	114%	0.19%	0.40	14,000
	$0.01 Warrant	0%	114%	0.19%	0.91	7,000
	$0.50 Warrant	0%	114%	0.00%	0.91	1,000
1/31/2013	Conversion Feature	0%	100%	0.19%	0.47	14,000
	$0.01 Warrant	0%	100%	0.19%	0.97	18,000
	$0.50 Warrant	0%	100%	0.19%	0.97	5,000
8/24/2012	$0.50 Warrant	0%	85%	0.00%	2.65	13,000
					Total fair value	$172,000

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  06/30/13
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