Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Stockholders' Equity

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Note 13 - Stockholders' Equity
 9 Months Ended
Mar. 31, 2014
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
NOTE 13 - STOCKHOLDERS’ EQUITY

Share-Based Payment Transactions

During the nine months ended March 31, 2014, the Company issued 40,000 shares of restricted common stock for services rendered by officers of the Company. These shares were valued at the fair market value of $427,200 and recorded as compensation expense in the accompanying condensed consolidated financial statements.

During the nine months ended March 31, 2014, the Company issued 3,448 shares of restricted common stock for services rendered by the independent members of the Board of Directors as part of their board compensation. These shares were valued at the fair market value of $36,826 and recorded as compensation expense in the accompanying condensed consolidated financial statements.

During the nine months ended March 31, 2014, the Company issued 9,000 shares of its common stock to employees pursuant to the terms of their employment agreements valued at $81,395 and recorded as compensation expense in the accompanying condensed consolidated financial statements.

During the nine months ended March 31, 2014, the Company issued 2,400 shares of its common stock for provision of services to unrelated consultants valued at $17,424 and recorded as general and administrative costs in the accompanying condensed consolidated financial statements.

During the nine months ended March 31, 2014, the Company issued 27,000 shares of its common stock for the settlement of a payable to a related party valued at $210,060.