Quarterly report pursuant to Section 13 or 15(d)

5. Inventory

5. Inventory

9 Months Ended

Mar. 31, 2015

5. Inventory

· Inventory consists of the following at March 31, 2015 and June 30, 2014:

		March 31, 2015	June 30, 2014
Finished Goods	$	48,581	$	47,424
Packaging		12,113		1,991
Deposits and Other		-		23,000
TOTAL	$	60,694	$	72,415

Inventories are stated at the lower of cost or market. The company periodically reviews the value of items in inventory and provides write-downs or write-offs of inventory based on its assessment of market conditions and the products relative shelf life. Write-downs and write-offs are charged to loss on inventory write down.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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