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SUBSEQUENT EVENTS (Details Narrative) (USD $)
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2 Months Ended | 6 Months Ended | 14 Months Ended | 1 Months Ended | 1 Months Ended | ||||
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Jun. 30, 2011
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Jun. 30, 2012
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Jun. 30, 2012
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Aug. 01, 2012
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Jul. 31, 2012
Affiliated Company
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Jun. 30, 2012
Affiliated Company
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Aug. 31, 2012
CEOAndCOOMember
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Aug. 31, 2012
CEOAndCOOMember
StockOptionMember
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Aug. 31, 2012
Mark Groussman, CEO and John Stetson, COO
RestrictedStockMember
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| 2012 Incentive Plan, shares reserved | 10,000,000 | ||||||||
| Note receivable - related party | $ (133,058) | $ (133,058) | $ 14,650 | $ 133,058 | |||||
| Note receivable related party interest rate | 6.00% | 6.00% | |||||||
| Awards Granted | 3,000,000 | 1,000,000 | |||||||
| Awards granted, term | 5 years | ||||||||
| Awards granted, exercise price | $ 0.50 | ||||||||
| Awards granted, fair value on grant, per award | $ 0.48 | ||||||||
| Awards granted, fair value on grant | $ 1,454,400 | ||||||||
| Awards granted, stock price assumption | $ 0.50 | ||||||||
| Awards granted, volatility assumption | 192.00% | ||||||||
| Awards granted, risk-free interest rate | 0.61% | ||||||||
| Restricted shares vesting terms |
The Company also granted Mr. Groussman 1,000,000 restricted shares which shall vest as follows: 1/3 after the Company achieves at least $800,000 in gross profits; 1/3 after the Company achieves at least $1,200,000 in gross profits and 1/3 after the Company achieves at least $1,600,000 in gross profits. The Company granted Mr. Stetson 2,000,000 restricted shares which shall vest as follows: 1/3 after the Company achieves at least $800,000 in gross profits; 1/3 after the Company achieves at least $1,200,000 in gross profits and 1/3 after the Company achieves at least $1,600,000 in gross profits. The Company shall account for the restricted shares once vested pursuant to the terms of the Employment Agreement.
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