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5. RELATED PARTY TRANSACTIONS

6 Months Ended

Dec. 31, 2015

Notes Payable - Related Parties

Current related party notes payable consist of the following:

	December 31, 2015		June 30, 2015
Notes payable to shareholder, interest rate of 10%, unsecured and payable on July 31, 2004 (past due)	$	5,000	$	5,000
Notes payable to shareholder, interest rate of 8%, unsecured and payable on December 31, 2012 (past due)		3,500		3,500

	$	8,500	$	8,500

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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