ROYALTY PAYABLE	9 Months Ended
Mar. 31, 2012
ROYALTY PAYABLE	NOTE 6 ROYALTY PAYABLE During the nine month period ended March 31, 2012, the Company incurred a royalty expense of $294,408 (which was at March 31, 2011, $305,014) for the sale of fishing equipment which is included in cost of sales. The royalty is calculated as 20% of the net selling price of fishing products sold by the Company and any sub licensee. The royalty is payable to Advanced. During the nine months ended March 31, 2012, the Company paid $0 (March 31, 2011 - $0) to Advanced. Royalty payable at March 31, 2012 is $1,859,155 (which was at June 30, 2011, $1,564,748).

ROYALTY PAYABLE

9 Months Ended

Mar. 31, 2012

NOTE 6 ROYALTY PAYABLE

During the nine month period ended March 31, 2012, the Company incurred a royalty expense of $294,408 (which was at March 31, 2011, $305,014) for the sale of fishing equipment which is included in cost of sales. The royalty is calculated as 20% of the net selling price of fishing products sold by the Company and any sub licensee. The royalty is payable to Advanced. During the nine months ended March 31, 2012, the Company paid $0 (March 31, 2011 - $0) to Advanced. Royalty payable at March 31, 2012 is $1,859,155 (which was at June 30, 2011, $1,564,748).

American Rare Earths & Materials, Corp. 10-Q