Xeriant (XERI) 10-Q 24 Feb 15 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Dec. 31, 2014
Document And Entity Information
Entity Registrant Name	Banjo & Matilda, Inc.
Entity Central Index Key	1481504
Document Type	10-Q
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-24
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	34,140,644
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2015

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Jun. 30, 2014
CURRENT ASSETS
Cash and cash equivalents	$11,132	$33,367
Trade receivables, net	559,592	333,174
Inventory	684,640	630,235
Other assets	1,223	8,212
TOTAL CURRENT ASSETS	1,256,587	1,004,988
NON-CURRENT ASSETS
Intangible assets	52,725	62,637
Other receivable	89,482	128,228
Property, plant and equipment	7,136	10,225
TOTAL NON-CURRENT ASSETS	149,343	201,090
TOTAL ASSETS	1,405,930	1,206,078
CURRENT LIABILITIES
Trade and other payables	539,228	360,737
Deposit payable		2,547
Trade financing	560,623	267,637
Accrued interest	86,253	13,035
Loan payable	545,348	643,440
TOTAL CURRENT LIABILITIES	1,731,452	1,287,396
NON-CURRENT LIABILITIES
Payable to related parties	22,427	123,082
TOTAL NON-CURRENT LIABILITIES	22,427	123,082
TOTAL LIABILITIES	1,753,879	1,410,478
STOCKHOLDERS' DEFICIT
Preferred stock, $0.00001 par value, 100,000,000 shares authorized and 1,000,000 shares issued and outstanding, respectively	10	10
Common stock, $0.00001 par value, 100,000,000 shares authorized and 34,140,644 and 27,886,484 shares issued and outstanding, respectively	341	279
Additional paid-in capital	895,861	836,273
Other accumulated comprehensive gain	69,445	56,321
Accumulated deficit	-1,313,606	-1,097,283
TOTAL STOCKHOLDERS' DEFICIT	-347,949	-204,400
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$1,405,930	$1,206,078

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Jun. 30, 2014
STOCKHOLDERS' DEFICIT
Preferred stock par value (in Dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	1,000,000	1,000,000
Preferred stock, shares outstanding	1,000,000	1,000,000
Common stock par value (in Dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	34,140,644	27,886,484
Common stock, shares outstanding	34,140,644	27,886,484

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Revenue	$1,038,418	$426,015	$1,785,181	$955,229
Cost of sales	581,999	242,683	993,732	584,976
Gross profit	456,419	183,332	791,449	370,253
Bad debt expense	38,813		49,876
Payroll and employee related expense	193,226	118,120	365,630	200,357
Administration expense	84,297	30,395	127,782	63,047
Marketing expense	41,454	39,291	147,246	60,231
Occupancy expense	11,398	27,106	24,637	36,590
Depreciation and amortization	3,020	3,276	6,289	6,507
Corporate and public company expense	61,333	99,138	97,872	99,138
Total	433,541	317,326	819,332	465,870
Income (loss) from operations	22,878	-133,994	-27,883	-95,617
Other Income (Expense)
Finance costs	-101,510	-44,755	-188,440	-96,289
Total Other Expense	-101,510	-44,755	-188,440	-96,289
Loss before income tax	-78,632	-178,749	-216,323	-191,906
Provision for income taxes
Net Loss	-78,632	-178,749	-216,323	-191,906
Other comprehensive income
Foreign currency translation	18,548	9,081	13,124	5,458
Comprehensive (loss) income	($60,084)	($169,668)	($203,199)	($186,448)
Net Loss per share from net loss
Basic	($0.00)	($0.01)	($0.01)	($0.01)
Diluted	($0.00)	($0.01)	($0.01)	($0.01)
Weighted average number of shares outstanding:
Basic	31,790,918	23,089,880	29,493,137	21,679,314
Diluted	31,790,918	23,089,880	29,493,137	21,679,314

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash Flows From Operating Activities:
Net Loss	($216,323)	($191,906)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	6,289	6,507
Issuance of shares as compensation	14,878
(Increase) / decrease in assets:
Trade receivables	-296,032	-210,669
Inventory	-151,707	-275,783
Other assets	6,429	-58,411
Other receivable	23,529	32,896
Increase/ (decrease) in current liabilities:
Trade payables and other liabilities	247,716	1,767
Accrued interest	81,265
Deposits payable	-2,408
Net cash used in operating activities	-286,364	-695,599
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of intangible assets		-5,160
Purchase of property, plant and equipment	-2,764	-4,325
Net cash used in investing activities	-2,764	-9,485
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of stock	44,770	120,000
Convertible loans, net	-38,205	338,083
Related party loan, net	-120,385	134,361
Net trade financing	357,094	130,767
Net cash provided by financing activities	243,274	723,211
Effect of exchange rate changes on cash and cash equivalents	23,619	-2,071
Net (decrease) / increase in cash and cash equivalents	-22,235	16,056
Cash and cash equivalents at the beginning of the period	33,367	11,104
Cash and cash equivalents at the end of the period	11,132	27,160
SUPPLEMENTAL DISCLOSURES:
Conversion of debt to equity	12,000	338,083
Cash paid during the year for : Income tax payments
Cash paid during the year for : Interest payments	$76,836	$44,838

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 1- BASIS OF PRESENTATION	The accompanying condensed consolidated financial statements were prepared in conformity with generally accepted accounting principles in the United States (“US GAAP”) and with the instructions to Form 10-Q.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to U.S. GAAP rules and regulations for presentation of interim financial information. Therefore, the unaudited condensed interim consolidated financial statements should be read in conjunction with the financial statements and the notes thereto, included in the Company’s Annual Report on the Form 10-K for the fiscal year ended June 30, 2014. Current and future financial statements may not be directly comparable to the Company’s historical financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the year ended June 30, 2014 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The unaudited consolidated financial statements should be read in conjunction with the financial statements included in the Form10-K. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three and six months ended December 31, 2014 are not necessarily indicative of the results that may be expected for the year ending June 30, 2015.
	When used in these notes, the terms "Company," "we," "our," or "us" mean Banjo & Matilda, Inc. and its subsidiary.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Exchange Gain (Loss)
	During the three and six months ended December 31, 2014 and 2013, the transactions of the Company were denominated in foreign currency and were recorded in Australian dollar (AUD) at the rates of exchange in effect when the transactions occurred. Exchange gains and losses are recognized for the different foreign exchange rates applied when the foreign currency assets and liabilities are settled.
	Foreign Currency Translation and Comprehensive Income (Loss)
	The accounts of the Company were maintained, and its financial statements were expressed, in AUD. Such financial statements were translated into USD with the AUD as the functional currency. All assets and liabilities were translated at the exchange rate at the balance sheet date, stockholder’s equity is translated at the historical rates and income statement items are translated at the average exchange rate for the period. Transactions in foreign currencies are initially recorded at the functional currency rate ruling at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the statements of operations. The resulting translation adjustments are reported under other comprehensive income as a component of shareholders’ equity. There were no significant fluctuations in the exchange rate for the conversion of AUD to USD after the balance sheet date.
	Use of Estimates
	The preparation of financial statements in conformity with US GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include collectability of accounts receivable, accounts payable, sales returns and recoverability of long-term assets.
	Reportable Segment
	The Company has one reportable segment. The Company’s activities are interrelated and each activity is dependent upon and supportive of the other. Accordingly, all significant operating decisions are based on analysis of financial products provided as a single global business.
	Liquidity Matters
	Based upon its current projection of revenue, management believes that its current cash position and available financing provide sufficient resources and operating flexibility through at least the next twelve months. However, there can be no assurance that projected revenue growth and improvement in operating results will occur or that the Company will successfully implement its plans. In the event cash flow from operations is not sufficient, additional sources of financing will be required in order to maintain the Company’s current operations. Whereas management believes it will have access to other financing sources, no assurance can be given that such additional sources of financing will be available on acceptable terms, on a timely basis or at all.
	Revenue Recognition
	Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collectability is probable. Revenue generally is recognized net of allowances for returns and any taxes collected from customers and subsequently remitted to governmental authorities.
	Cost of Sales
	Cost of sales consists primarily of inventory costs, as well as warehousing costs (including the cost of warehouse labor), shipping, importation duties and charges, third party royalties, and product sampling.
	Operating Overhead Expense
	Operating overhead expense consists primarily of payroll and benefit related costs, rent, depreciation and amortization, professional services, and meetings and travel.
	Income Taxes
	The Company utilizes the liability method of accounting for income tax. Under the liability method, deferred income tax assets and liabilities are provided based on the difference between the financial statements and tax basis of assets and liabilities measured by the current enacted tax rates in effect for the years in which these differences are expected to reverse.
	The Company has adopted accounting standards for the accounting for uncertain income taxes. These standards provide guidance for the accounting and disclosure about uncertain tax positions taken. Management believes that all of the positions taken in its federal and states income tax returns are more likely than not to be sustained upon examination.
	At December 31, 2014 and 2013, the Company had not taken any significant uncertain tax positions on its tax returns for 2013 and prior years or in computing its tax provision for 2014.
	Concentration of Credit Risk
	Financial instruments that potentially subject the Company to concentrations of credit risk are cash, accounts receivable and other receivables arising from its normal business activities. The Company places its cash in what it believes to be credit-worthy financial institutions. The Company has a diversified customer base across many markets, predominantly Australia, United States of America, United Kingdom, Europe and the Middle East. The Company controls credit risk related to accounts receivable through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowance is limited. In addition, Receivables that are factored through the Company’s Receivable finance facility are guaranteed by the finance company that further mitigates Credit Risk.
	Risks and Uncertainties
	The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history, foreign currency exchange rates and the volatility of public markets.
	Contingencies
	Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and legal counsel assess such contingent liabilities, and such assessment inherently involves judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought.
	If the assessment of a contingency indicates it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed.
	Cash and Equivalents
	Cash and equivalents include cash in hand and cash in demand deposits, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less. At December 31, 2014 and June 30, 2014, the Company had $11,132 and $33,367 in cash in Australia and not covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts.
	Allowance for Doubtful Accounts
	The Company maintains reserves for potential credit losses on accounts receivable. Management reviews the composition of accounts receivable and analyzes historical bad debts, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves. There were no allowances for doubtful accounts as of December 31, 2014 and June 30, 2014.
	Inventory
	Inventories are valued at the lower of cost (determined on a weighted average basis) or market. Management compares the cost of inventories with the market value and allowance is made to write down inventories to market value, if lower. As of December 31, 2014 and June 30, 2014, inventory only consisted of the following:
		31-Dec-14			30-Jun-14
	Work in progress	$	160,344		$	132,821
	Finished goods		520,458			489,833
	Raw materials		3,838			7,581
		$	684,640		$	630,235
	Fixed Assets
	Fixed assets are stated at cost and depreciated using the straight-line method over the shorter of the estimated useful life of the asset or the lease term. The estimated useful lives of our property and equipment are generally as follows: computer software developed or acquired for internal use, three to 10 years; computer equipment, two to three years; buildings and improvements, five to 15 years; leasehold improvements, two to 10 years; and furniture and equipment, one to five years.
	As of December 31, 2014 and June 30, 2014, fixed assets consisted of the following:
		31-Dec-14			30-Jun-14
	Plant and Equipment	$	27,437		$	30,352
	Accumulated depreciation		(20,301	)		(20,127	)
		$	7,136		$	10,225
	Depreciation was $1,311 and $2,180 for three months ended December 31, 2014 and 2013, respectively.
	Depreciation was $2,003 and $3,527 for six months ended December 31, 2014 and 2013, respectively.
	Fair Value of Financial Instruments
	For certain of the Company’s financial instruments, including cash and equivalents, restricted cash, accounts receivable, accounts payable, accrued liabilities and short-term debt, the carrying amounts approximate their fair values due to their short maturities. ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:
	Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.
	Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
	Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement.
	The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815.
	As of December 31, 2014 and June 30, 2014, the Company did not identify any assets and liabilities that are required to be presented on the balance sheet at fair value.
	Earnings Per Share (EPS)
	Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similar to basic net income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if all the potential common shares, warrants and stock options had been issued and if the additional common shares were dilutive. Diluted EPS is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method for the outstanding options and the if-converted method for the outstanding convertible preferred shares. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, convertible outstanding instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later).
	The following table sets forth the computation of basic and diluted earnings per share for three and six months ended December 31, 2014 and 2013:
			Three Months Ended						Six Months Ended
	Basic and diluted	31-Dec-14			31-Dec-13			31-Dec-14			31-Dec-13
	Net loss	$	(78,632	)	$	(178,749	)	$	(216,323	)	$	(191,906	)
	Weighted average number of shares in computing basic and diluted net loss
	Basic		31,790,918			23,089,880			29,493,137			21,679,314
	Diluted		31,790,918			23,089,880			29,493,137			21,679,314
	Net loss per share
Basic and diluted	$	(0.002	)	$	(0.008	)	$	(0.007	)	$	(0.009	)
Diluted EPS reflects the potential dilution of securities that could share in the earnings or losses of the entity. For the three and six months ended December 31, 2014 and 2013, basic and diluted loss per share are the same since the calculation of diluted per share amounts would result in an anti-dilutive calculation.
Intangible Assets
The Company records identifiable intangible assets at fair value on the date of acquisition and evaluates the useful life of each asset.
Finite-lived intangible assets primarily consist of software development capitalized. Finite-lived intangible assets are amortized on a straight-line basis and are tested for recoverability if events or changes in circumstances indicate that their carrying amounts may not be recoverable. These intangibles have useful lives ranging from 1 to 10 years. No events or changes in circumstances indicate that impairment existed as of December 31, 2014.
Recently Issued Accounting Pronouncements
There have been no new accounting pronouncements during the three months ended December 31, 2014 that the Company believes would have a material impact on its financial position or results of operations.
Reclassification
Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations or cash flow.

GOING_CONCERN

GOING CONCERN	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Note 3 - GOING CONCERN	As reflected in the accompanying financial statements, the Company had an accumulated deficit of $1,313,606 as of December 31, 2014.
	While the Company is attempting to improve operations and generate profits, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management intends to raise additional funds by way of a public or private offering. Management believes that the actions presently being taken to further implement its business plan and generate profits provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues.
	The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

OTHER_ASSETS

OTHER ASSETS	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 4 - OTHER ASSETS	Other assets consist of the following as of December 31, 2014 and June 30, 2014:
		31-Dec-14		30-Jun-14
	Prepaid and other assets	$	1,223	$	8,212
		$	1,223	$	8,212

OTHER_RECEIVABLE

OTHER RECEIVABLE	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 5 - OTHER RECEIVABLE	Other receivable consist of the following as of December 31, 2014 and June 30, 2014:
		31-Dec-14			30-Jun-14
	Development grant	$	125,358		$	128,228
	Allowance for reserve		(35,876	)		-
		$	89,482		$	128,228

INTANGIBLE_ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 6 - INTANGIBLE ASSETS	Intangible assets consist of the following as of December 31, 2014 and June 30, 2014:
		31-Dec-14			30-Jun-14
	Website	$	65,866		$	74,478
	Accumulated amortisation		(13,140	)		(11,841	)
		$	52,725		$	62,637
	The intangible assets are amortized over 1 to 10 years. Amortization expense was $1,709 and $1,096 for the three months ended December 31, 2014 and 2013 respectively. Amortization expense was $4,286 and $2,980 for the six months ended December 31, 2014 and 2013 respectively.
	Amortization for the Company’s intangible assets over the next five years from December 31, 2014 is estimated to be:
	December 31,
	2015		$	6,479
	2016			6,479
	2017			6,479
	2018			6,479
	2019			6,479
	Thereafter			20,329
			$	52,725

TRADE_AND_OTHER_PAYABLES

TRADE AND OTHER PAYABLES	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 7 - TRADE AND OTHER PAYABLES	As of December 31, 2014 and June 30, 2014, trade and other payable are comprised of the following:
		31-Dec-14		30-Jun-14
	Trade payable	$	438,575	$	340,468
	Other liabilities		100,653		20,269
		$	539,228	$	360,737

TRADE_FINANCING

TRADE FINANCING	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 8 - TRADE FINANCING	The Company has a trade financing agreement with a financial institution in Australia with a maximum limit of AUD $150,000 at an interest rate of 20.95% per annum. As of December 31, 2014 and June 30, 2014, the Company had outstanding balances of $125,464 and $146,202, respectively.
	On August 14, 2014 the Company entered into a new trade finance agreement with an entity in the United States with a total maximum facility of $1,500,000 based on $1,000,000 towards sales invoiced and $500,000 towards purchase order financing at interest rates of 2% per month and 7.75% per year, respectively. As of December 31, 2014, the Company had outstanding balances of $374,867.
	On November 20, 2014 the Company entered into a new retail trade finance agreement with an entity in Australia for AUD $75,000 with 100 equal payments of AUD$871.80 daily. As of December 31, 2014, the Company had outstanding balances of AUD $73,923 or USD $60,292.

LOANS

LOANS	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 9 - LOANS	In November 2013, the Company entered into a short term loan arrangement totalling AUD $100,000 with a shareholder of the Company. Terms of the note were interest rate at 15% per annum or .0329% per day due 30 days from the loan date. The short term note was converted into a 30 day callable convertible note in January 2014.
	In December 2013, the Company entered into a short term loan arrangement in the amount of $100,000 with an individual. Terms of the note require an interest payment of $5,000 on the repayment date, 30 days after the note date. If not repaid at that time, interest will accrue at the rate of $166 per day until the note is repaid.
	In January 2014, the Company entered into a convertible loan agreement totaling AUD $250,000 with a shareholder of the Company. The Convertible Note bears interest at the rate of 9% per annum and is due on the first anniversary of the date of issuance, January 12, 2015. All or any portion of the principal amount of the Convertible Note and all accrued interest is convertible at the option of the holder into common stock of the Company at a conversion price of thirty cents ($0.30) per share, provided that if the Volume Weighted Average Price (VWAP) for the 30 days immediately preceding the receipt of a conversion notice is less than sixty cents ($.60) per share, the conversion price shall be reduced to twenty cents ($.20) per share. The Company is currently re-negotiating the terms of this loan.
	In May 2014 the Company entered into a convertible loan agreement in the amount of $72,800 with a corporation in New York. Interest is to accrue at the rate of 8% per annum. Loan and accrued interest is due on December 1, 2014. The loan may be converted into common stock of the Company at any time by the election of the lender at a predetermined conversion price. On December 1, 2014, $12,000 was converted into 133,185 shares or $0.0901 per share.
	In June 2014 the Company entered into a loan agreement in the amount of AUD$100,000 with a shareholder of the Company. The note bears interest at 6% per month and is due and payable in July 2014. The loan was repaid in the amount of AUD $80,000 and the balance of AUD $20,000 was extended to December 31, 2014. The Company is currently re-negotiating the terms of this loan.
	In July 2014 the Company entered into a second convertible loan agreement in the amount of $72,800 with a corporation in New York. Interest is to accrue at the rate of 8% per annum. Loan and accrued interest is due in April 2015. The loan may be converted into common stock of the Company at any time by the election of the lender at a predetermined conversion price.
	Related Party Payable
	The Company has liabilities payable in the amount of $22,427 and $123,082 to shareholders and officers of the Company as of December 31, 2014 and June 30, 2014, respectively. Interest expense on these loans for the six months ended December 31, 2014 and June 30, 2014 was $0 and $2,610, respectively.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 10 - STOCKHOLDERS' EQUITY	Preferred Stock
	Pursuant to an Employment Agreement (the “Agreement”) with the Chief Executive Officer on November 15, 2013, the Company issued 1,000,000 undesignated shares of Preferred Stock each having a par value of $0.00001. The preferred shares shall be entitled to 100 votes to every one share of common stock. The Preferred Shares shall only valid during the term of this Agreement. At the end of the Agreement, November 15, 2016, the shares shall be cancelled and returned to Treasury and the Executive shall have no preferential voting rights. If this Agreement is renewed the preferred shares remain the Executives.
	Common Stock
	Pursuant to the Exchange Agreement on November 14, 2013, the Company issued 18,505,539 Common Stock, par value $0.00001 per share for the acquisition of Banjo & Matilda, Pty Ltd.
	On November 22, 2013, the Company agreed to issue 250,000 shares of the Company stock for $50,000 or $0.20 per share to an individual investor.
	On November 27, 2013, the Company agreed to issue 250,000 shares of the Company stock for $50,000 or $0.20 per share to an individual investor.
	On December 2, 2013, the Company agreed to issue 100,000 shares of the Company stock for $20,000 or $0.20 per share to an individual investor.
	On January 9, 2014, the Company agreed to issue 250,000 shares of the Company stock for $50,000 or $0.20 per share to a corporate investor.
	On January 10, 2014, the Company agreed to issue 125,000 shares of the Company stock for $25,000 or $0.20 per share to a corporate investor.
	On May 29, 2014, the Company agreed to issue 250,000 shares of the Company stock for $50,000 or $0.20 per share to a corporate investor.
	On June 4, 2014, the Company agreed to issue 225,000 shares of the Company stock for $45,000 or $0.20 per share to a corporate investor.
	On July 24, 2014, the Company agreed to issue 55,200 shares of the Company stock for $13,800 or $0.25 per share to an individual investor.
	On September 9, 2014, the Company agreed to issue 94,850 shares of the Company stock for $18,870 or $0.20 per share to a corporate investor.
	On October 28, 2014, the Company agreed to issue 5,833,333 shares of the Company stock to the original shareholders of Banjo & Matilda Pty Ltd related to the merger and reorganization based on the original agreement.
	On October 28, 2104, the Company agreed to issue 137,593 shares of common stock to three individuals for compensation and interest for loan balances in Banjo Australia. The shares were valued at $14,878 or approximately $0.11 per share.
	On December 1, 2014, the Company agreed to convert $12,000 of convertible debt for 133,185 shares of common stock at $0.0901 per share to a corporate investor.

INCOME_TAX

INCOME TAX	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 11 - INCOME TAX	The following is a reconciliation of the provision for income taxes as the US federal income tax rate to the income taxes reflected in the Statements of Operations and Comprehensive Loss for the three and six months ended December 31, 2014 and 2013, respectively:
	The following is a reconciliation of income tax expenses:
	Three Months Ended December 31, 2014 and 2013:	Three months ended						Three months ended						Three months ended
		December 31,						December 31,						December 31,
		2014			2013			2014			2013			2014		2013
		Australia						United States						Total
	Income tax expense - current	$	-		$	-		$	-		$	-		$	-	$	-
	Income tax expense - deferred		-			-			-			-			-		-
	Total	$	-		$	-		$	-		$	-		$	-	$	-
	Six Months Ended December 31, 2014 and 2013:	Six months ended						Six months ended						Six months ended
		December 31,						December 31,						December 31,
			2014			2013			2014			2013			2014		2013
		Australia						United States						Total
	Income tax expense - current	$	-		$	-		$	-		$	-		$	-	$	-
	Income tax expense - deferred		-			-			-			-			-		-
	Total	$	-		$	-		$	-		$	-		$	-	$	-
	Reconciliation of the differences between statutory U.S. Federal income tax rate and effective rate is as follows:
		Three months ended						Six months ended
		December 31,						December 31,
			2014			2013			2014			2013
	US statutory rates		34	%		34	%		34	%		34	%
	Tax rate difference		-4	%		-4	%		-4	%		-4	%
	Net operating loss		-30	%		-30	%		-30	%		-30	%
	Tax expenses at actual rate		-	%		-	%		-	%		-	%

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
NOTE 12 - SUBSEQUENT EVENTS	Management has evaluated events subsequent through February 20, 2015 for transactions and other events that may require adjustment of and/or disclosure in such financial statements.
	In January and February 2015 we issued 2,268,956 shares of common stock to repay the convertible loan from May 2014.
	On February 11, 2015 we issued 943,396 shares of common stock to repay $20,000 principal on the convertible loan dated July 2014. The remaining principal balance on this note was repaid on February 18, 2015.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2014
Summary Of Significant Accounting Policies Policies
Exchange Gain (Loss)	During the three and six months ended December 31, 2014 and 2013, the transactions of the Company were denominated in foreign currency and were recorded in Australian dollar (AUD) at the rates of exchange in effect when the transactions occurred. Exchange gains and losses are recognized for the different foreign exchange rates applied when the foreign currency assets and liabilities are settled.
Foreign Currency Translation and Comprehensive Income (Loss)	The accounts of the Company were maintained, and its financial statements were expressed, in AUD. Such financial statements were translated into USD with the AUD as the functional currency. All assets and liabilities were translated at the exchange rate at the balance sheet date, stockholder’s equity is translated at the historical rates and income statement items are translated at the average exchange rate for the period. Transactions in foreign currencies are initially recorded at the functional currency rate ruling at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the statements of operations. The resulting translation adjustments are reported under other comprehensive income as a component of shareholders’ equity. There were no significant fluctuations in the exchange rate for the conversion of AUD to USD after the balance sheet date.
Use of Estimates	The preparation of financial statements in conformity with US GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include collectability of accounts receivable, accounts payable, sales returns and recoverability of long-term assets.
Reportable Segment	The Company has one reportable segment. The Company’s activities are interrelated and each activity is dependent upon and supportive of the other. Accordingly, all significant operating decisions are based on analysis of financial products provided as a single global business.
Liquidity Matters	Based upon its current projection of revenue, management believes that its current cash position and available financing provide sufficient resources and operating flexibility through at least the next twelve months. However, there can be no assurance that projected revenue growth and improvement in operating results will occur or that the Company will successfully implement its plans. In the event cash flow from operations is not sufficient, additional sources of financing will be required in order to maintain the Company’s current operations. Whereas management believes it will have access to other financing sources, no assurance can be given that such additional sources of financing will be available on acceptable terms, on a timely basis or at all.
Revenue Recognition	Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collectability is probable. Revenue generally is recognized net of allowances for returns and any taxes collected from customers and subsequently remitted to governmental authorities.
Cost of Sales	Cost of sales consists primarily of inventory costs, as well as warehousing costs (including the cost of warehouse labor), shipping, importation duties and charges, third party royalties, and product sampling.
Operating Overhead Expense	Operating overhead expense consists primarily of payroll and benefit related costs, rent, depreciation and amortization, professional services, and meetings and travel.
Income Taxes	The Company utilizes the liability method of accounting for income tax. Under the liability method, deferred income tax assets and liabilities are provided based on the difference between the financial statements and tax basis of assets and liabilities measured by the current enacted tax rates in effect for the years in which these differences are expected to reverse.
	The Company has adopted accounting standards for the accounting for uncertain income taxes. These standards provide guidance for the accounting and disclosure about uncertain tax positions taken. Management believes that all of the positions taken in its federal and states income tax returns are more likely than not to be sustained upon examination.
	At December 31, 2014 and 2013, the Company had not taken any significant uncertain tax positions on its tax returns for 2013 and prior years or in computing its tax provision for 2014.
Concentration of Credit Risk	Financial instruments that potentially subject the Company to concentrations of credit risk are cash, accounts receivable and other receivables arising from its normal business activities. The Company places its cash in what it believes to be credit-worthy financial institutions. The Company has a diversified customer base across many markets, predominantly Australia, United States of America, United Kingdom, Europe and the Middle East. The Company controls credit risk related to accounts receivable through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowance is limited. In addition, Receivables that are factored through the Company’s Receivable finance facility are guaranteed by the finance company that further mitigates Credit Risk.
Risks and Uncertainties	The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history, foreign currency exchange rates and the volatility of public markets.
Contingencies	Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and legal counsel assess such contingent liabilities, and such assessment inherently involves judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought.
	If the assessment of a contingency indicates it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed.
Cash and Equivalents	Cash and equivalents include cash in hand and cash in demand deposits, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less. At December 31, 2014 and June 30, 2014, the Company had $11,132 and $33,367 in cash in Australia and not covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts.
Allowance for Doubtful Accounts	The Company maintains reserves for potential credit losses on accounts receivable. Management reviews the composition of accounts receivable and analyzes historical bad debts, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves. There were no allowances for doubtful accounts as of December 31, 2014 and June 30, 2014.
Inventory	Inventories are valued at the lower of cost (determined on a weighted average basis) or market. Management compares the cost of inventories with the market value and allowance is made to write down inventories to market value, if lower. As of December 31, 2014 and June 30, 2014, inventory only consisted of the following:
		31-Dec-14			30-Jun-14
	Work in progress	$	160,344		$	132,821
	Finished goods		520,458			489,833
	Raw materials		3,838			7,581
		$	684,640		$	630,235
Fixed Assets	Fixed assets are stated at cost and depreciated using the straight-line method over the shorter of the estimated useful life of the asset or the lease term. The estimated useful lives of our property and equipment are generally as follows: computer software developed or acquired for internal use, three to 10 years; computer equipment, two to three years; buildings and improvements, five to 15 years; leasehold improvements, two to 10 years; and furniture and equipment, one to five years.
	As of December 31, 2014 and June 30, 2014, fixed assets consisted of the following:
		31-Dec-14			30-Jun-14
	Plant and Equipment	$	27,437		$	30,352
	Accumulated depreciation		(20,301	)		(20,127	)
		$	7,136		$	10,225
	Depreciation was $1,311 and $2,180 for three months ended December 31, 2014 and 2013, respectively.
	Depreciation was $2,003 and $3,527 for six months ended December 31, 2014 and 2013, respectively.
Fair Value of Financial Instruments	For certain of the Company’s financial instruments, including cash and equivalents, restricted cash, accounts receivable, accounts payable, accrued liabilities and short-term debt, the carrying amounts approximate their fair values due to their short maturities. ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:
	Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.
	Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
	Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement.
	The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815.
	As of December 31, 2014 and June 30, 2014, the Company did not identify any assets and liabilities that are required to be presented on the balance sheet at fair value.
Earnings Per Share (EPS)	Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similar to basic net income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if all the potential common shares, warrants and stock options had been issued and if the additional common shares were dilutive. Diluted EPS is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method for the outstanding options and the if-converted method for the outstanding convertible preferred shares. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, convertible outstanding instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later).
	The following table sets forth the computation of basic and diluted earnings per share for three and six months ended December 31, 2014 and 2013:
			Three Months Ended						Six Months Ended
	Basic and diluted	31-Dec-14			31-Dec-13			31-Dec-14			31-Dec-13
	Net loss	$	(78,632	)	$	(178,749	)	$	(216,323	)	$	(191,906	)
	Weighted average number of shares in computing basic and diluted net loss
	Basic		31,790,918			23,089,880			29,493,137			21,679,314
	Diluted		31,790,918			23,089,880			29,493,137			21,679,314
	Net loss per share
	Basic and diluted	$	(0.002	)	$	(0.008	)	$	(0.007	)	$	(0.009	)
	Diluted EPS reflects the potential dilution of securities that could share in the earnings or losses of the entity. For the three and six months ended December 31, 2014 and 2013, basic and diluted loss per share are the same since the calculation of diluted per share amounts would result in an anti-dilutive calculation.
Intangible Assets	The Company records identifiable intangible assets at fair value on the date of acquisition and evaluates the useful life of each asset.
	Finite-lived intangible assets primarily consist of software development capitalized. Finite-lived intangible assets are amortized on a straight-line basis and are tested for recoverability if events or changes in circumstances indicate that their carrying amounts may not be recoverable. These intangibles have useful lives ranging from 1 to 10 years. No events or changes in circumstances indicate that impairment existed as of December 31, 2014.
Recently Issued Accounting Pronouncements	There have been no new accounting pronouncements during the three months ended December 31, 2014 that the Company believes would have a material impact on its financial position or results of operations.
Reclassification	Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations or cash flow.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Dec. 31, 2014
Summary Of Significant Accounting Policies Tables
Schedule of inventory		31-Dec-14			30-Jun-14
	Work in progress	$	160,344		$	132,821
	Finished goods		520,458			489,833
	Raw materials		3,838			7,581
		$	684,640		$	630,235
Summary of Fixed Assets		31-Dec-14			30-Jun-14
	Plant and Equipment	$	27,437		$	30,352
	Accumulated depreciation		(20,301	)		(20,127	)
		$	7,136		$	10,225
Computation of basic and diluted earnings per share			Three Months Ended						Six Months Ended
	Basic and diluted	31-Dec-14			31-Dec-13			31-Dec-14			31-Dec-13
	Net loss	$	(78,632	)	$	(178,749	)	$	(216,323	)	$	(191,906	)
	Weighted average number of shares in computing basic and diluted net loss
	Basic		31,790,918			23,089,880			29,493,137			21,679,314
	Diluted		31,790,918			23,089,880			29,493,137			21,679,314
	Net loss per share
	Basic and diluted	$	(0.002	)	$	(0.008	)	$	(0.007	)	$	(0.009	)

OTHER_ASSETS_Tables

OTHER ASSETS (Tables)	6 Months Ended
	Dec. 31, 2014
Other Assets Tables
Summary of other assets		31-Dec-14		30-Jun-14
	Prepaid and other assets	$	1,223	$	8,212
		$	1,223	$	8,212

OTHER_RECEIVABLE_Tables

OTHER RECEIVABLE (Tables)	6 Months Ended
	Dec. 31, 2014
Other Receivable Tables
Schedule of other receivables		31-Dec-14			30-Jun-14
	Development grant	$	125,358		$	128,228
	Allowance for reserve		(35,876	)		-
		$	89,482		$	128,228

INTANGIBLE_ASSETS_Tables

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Dec. 31, 2014
Intangible Assets Tables
Summary of intangible assets		31-Dec-14			30-Jun-14
	Website	$	65,866		$	74,478
	Accumulated amortisation		(13,140	)		(11,841	)
		$	52,725		$	62,637
Summary of amortization for intangible assets	December 31,
	2015		$	6,479
	2016			6,479
	2017			6,479
	2018			6,479
	2019			6,479
	Thereafter			20,329
			$	52,725

TRADE_AND_OTHER_PAYABLES_Table

TRADE AND OTHER PAYABLES (Tables)	6 Months Ended
	Dec. 31, 2014
Trade And Other Payables Tables
Trade and other payables		31-Dec-14		30-Jun-14
	Trade payable	$	438,575	$	340,468
	Other liabilities		100,653		20,269
		$	539,228	$	360,737

INCOME_TAX_Tables

INCOME TAX (Tables)	6 Months Ended
	Dec. 31, 2014
Income Tax Tables
Reconciliation of provision for income taxes	Three Months Ended December 31, 2014 and 2013:	Three months ended						Three months ended						Three months ended
		December 31,						December 31,						December 31,
		2014			2013			2014			2013			2014		2013
		Australia						United States						Total
	Income tax expense - current	$	-		$	-		$	-		$	-		$	-	$	-
	Income tax expense - deferred		-			-			-			-			-		-
	Total	$	-		$	-		$	-		$	-		$	-	$	-
	Six Months Ended December 31, 2014 and 2013:	Six months ended						Six months ended						Six months ended
		December 31,						December 31,						December 31,
			2014			2013			2014			2013			2014		2013
		Australia						United States						Total
	Income tax expense - current	$	-		$	-		$	-		$	-		$	-	$	-
	Income tax expense - deferred		-			-			-			-			-		-
	Total	$	-		$	-		$	-		$	-		$	-	$	-
Reconciliation of differences between statutory U.S. Federal income tax rate and effective rate	Reconciliation of the differences between statutory U.S. Federal income tax rate and effective rate is as follows:
		Three months ended						Six months ended
		December 31,						December 31,
			2014			2013			2014			2013
	US statutory rates		34	%		34	%		34	%		34	%
	Tax rate difference		-4	%		-4	%		-4	%		-4	%
	Net operating loss		-30	%		-30	%		-30	%		-30	%
	Tax expenses at actual rate		-	%		-	%		-	%		-	%

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Summary Of Significant Accounting Policies Details
Work in progress	$160,344	$132,821
Finished goods	520,458	489,833
Raw materials	3,838	7,581
Inventory	$684,640	$630,235

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Summary Of Significant Accounting Policies Details 1
Plant and Equipment	$27,437	$30,352
Accumulated Depreciation	-20,301	-20,127
Plant and Equipment, net	$7,136	$10,225

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Summary Of Significant Accounting Policies Details 2
Net loss	($78,632)	($178,749)	($216,323)	($191,906)
Basic	31,790,918	23,089,880	29,493,137	21,679,314
Diluted:	31,790,918	23,089,880	29,493,137	21,679,314
Net loss per share
Basic and diluted:	($0.00)	($0.01)	($0.01)	($0.01)

SUMMARY_OF_SIGNIFICANT_ACCOUNT6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) (USD $)	3 Months Ended		6 Months Ended		3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014	Jun. 30, 2014
Cash in Australia and not covered by insurance	$11,132		$11,132			$33,367
Depreciation	$1,311	$2,180	$2,003	$3,527
Intangibles assets useful lives			1 to 10 years
Computer Software Development [Member]
Estimated useful lives of property and equipment					Three to 10 years
Computer Equipment [Member]
Estimated useful lives of property and equipment					Two to three years
Building and Improvements [Member]
Estimated useful lives of property and equipment					Five to 15 years
Leasehold Improvements [Member]
Estimated useful lives of property and equipment					Two to 10 years
Furniture and Equipment [Member]
Estimated useful lives of property and equipment					One to five years

OTHER_ASSETS_Details

OTHER ASSETS (Details) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Other Assets Details
Prepaid and other assets	$1,223	$8,212
Total other assets	$1,223	$8,212

OTHER_RECEIVABLE_Details

OTHER RECEIVABLE (Details) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Other Receivable Details
Development grant	$125,358	$128,228
Allowance for reserve	-35,876
Total other receivable	$89,482	$128,228

INTANGIBLE_ASSETS_Details

INTANGIBLE ASSETS (Details) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Intangible Assets Details
Website	$65,866	$74,478
Accumulated amortization	-13,140	-11,841
Intangible assets	$52,725	$62,637

INTANGIBLE_ASSETS_Details_1

INTANGIBLE ASSETS (Details 1) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Intangible Assets Details 1
2015	$6,479
2016	6,479
2017	6,479
2018	6,479
2019	6,479
Thereafter	20,329
Total	$52,725	$62,637

INTANGIBLE_ASSETS_Details_Narr

INTANGIBLE ASSETS (Details Narrative) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Intangible Assets Details Narrative
Amortization expense	$1,709	$1,096	$4,286	$2,980
Intangibles assets useful lives			1 to 10 years

TRADE_AND_OTHER_PAYABLES_Detai

TRADE AND OTHER PAYABLES (Details) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Trade And Other Payables Details
Trade payable	$438,575	$340,468
Other liabilities	100,653	20,269
Trade and other payables	$539,228	$360,737

TRADE_FINANCING_Details_Narrat

TRADE FINANCING (Details Narrative) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Trade Financing Details Narrative
Outstanding balances related to trade financing agreement with institution in Australia	$125,464	$146,202
Outstanding balances related to trade financing agreement with institution in New York	374,867
Outstanding balances related to new retail trade finance agreement with an entity in Australia	$60,292

LOANS_Details_Narrative

LOANS (Details Narrative) (USD $)	6 Months Ended	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2014
Loans Details Narrative
Loans payable to shareholder and officer	$22,427	$123,082
Interest expense on related party loan	0	2,610
Amount of common stock converted	$12,000
common stock converted	133,185
common stock converted, price per share	$0.09

STOCKHOLDERS_EQUITY_Details_Na

STOCKHOLDERS' EQUITY (Details Narrative) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Stockholders Equity Details Narrative
Preferred stock par value (in Dollars per share)	$0.00	$0.00
Preferred stock, shares issued	1,000,000	1,000,000

INCOME_TAX_Details

INCOME TAX (Details) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Income Tax Details
Current, U.S.
Deferred, U.S.
Total, U.S.
Current, Australia
Deferred, Australia
Total, Australia
Current, Total
Deferred, Total
Income tax expense (benefit)

INCOME_TAX_Details_1

INCOME TAX (Details 1)	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Income Tax Details 1
US statutory tax rate (benefit)	34.00%	34.00%	34.00%	34.00%
Tax rate difference	-4.00%	-4.00%	-4.00%	-4.00%
Net operating loss	-30.00%	-30.00%	-30.00%	-30.00%
Tax expense at actual rate	0.00%	0.00%	0.00%	0.00%