Annual report pursuant to Section 13 and 15(d)

Note 12 - Accounts Payable and Accrued Expenses

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Note 12 - Accounts Payable and Accrued Expenses
 12 Months Ended
Jun. 30, 2012
Accounts Payable and Accrued Liabilities Disclosure [Text Block]
NOTE 12 – ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses consisted of the following:

   
As of June 30
   
As of June 30
 
   
2012
   
2011
 
             
 Accounts Payable
  $ 1,278,452     $ 1,348,453  
 Accrued Liabilities
    1,778,414       2,364,233  
 Accrued Payroll
    17,097       148,565  
 Accrued Payroll Taxes
    158,626       216,485  
 Interest Payable
    326,746       380,808  
 Deferred Revenues
    32,463       32,066  
 Taxes Payable
    277,557       239,417  
     Total
  $ 3,869,355     $ 4,730,027