Annual report pursuant to Section 13 and 15(d)

Note 14 - Stockholders' Equity

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Note 14 - Stockholders' Equity
 12 Months Ended
Jun. 30, 2014
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
NOTE 14 – STOCKHOLDERS’ EQUITY

During the years ended June 30, 2014 and 2013, the Company issued 65,000 and 5,000 restricted shares of common stock, respectively, for services rendered by officers of the Company. These shares were valued at the fair market value of $663,350 and 25,200, respectively, and recorded as compensation expense in the accompanying consolidated financial statements.

During the years ended June 30, 2014 and 2013, the Company issued 5,173 and nil restricted shares of common stock, respectively, 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 $55,249 and $Nil, respectively, and recorded as compensation expense in the accompanying consolidated financial statements.

During the years ended June 30, 2014 and 2013, the Company issued 9,000 and 2,500 restricted shares of common stock, respectively, to employees pursuant to the terms of their employment agreements.  These shares were valued at the fair market value of $81,395 and $12,600, respectively, and recorded as compensation expense in the accompanying consolidated financial statements.

During the years ended June 30, 2014 and 2013, the Company issued 2,400 and 4,800 restricted shares of common stock for services performed by unrelated consultants.  These shares were valued at the fair market value of $17,424 and $18,420, respectively, and recorded as general and administrative costs in the accompanying consolidated financial statements.

During the year ended June 30, 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.