Advances and loans from stockholders	12 Months Ended
Jun. 30, 2012
Notes to Financial Statements
Advances and loans from stockholders	*Note 8 – Advances and loans from stockholders* On May 11, 2011, the Company received a stockholder advance from its CEO which arose when he contributed $18,500 in expenses he had personally incurred for mineral property staking related to the Pilot Peak Property. This advance is unsecured and carries no interest rate or repayment terms. To conform with GAAP, imputed interest (at 8% per annum) on this shareholder advance was calculated on the outstanding balance and the resulting imputed interest of $1,480 for the twelve month period ended June 30, 2012 was recorded as Interest Expense in the Statement of Operations, with corresponding entries to Additional Paid-in-Capital amounts shown on the Balance Sheet, Statement of Stockholders' Equity and Statement of Cash Flows.

Advances and loans from stockholders

12 Months Ended

Jun. 30, 2012

Note 8 – Advances and loans from stockholders

On May 11, 2011, the Company received a stockholder advance from its CEO which arose when he contributed $18,500 in expenses he had personally incurred for mineral property staking related to the Pilot Peak Property. This advance is unsecured and carries no interest rate or repayment terms. To conform with GAAP, imputed interest (at 8% per annum) on this shareholder advance was calculated on the outstanding balance and the resulting imputed interest of $1,480 for the twelve month period ended June 30, 2012 was recorded as Interest Expense in the Statement of Operations, with corresponding entries to Additional Paid-in-Capital amounts shown on the Balance Sheet, Statement of Stockholders' Equity and Statement of Cash Flows.

RARUS TECHNOLOGIES INC 10-K