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6. LOAN PAYABLE
6 Months Ended
Dec. 31, 2012
Debt Disclosure [Abstract]  
6. LOAN PAYABLE

Loan payable consists of followings:

 

$117,785 (June 30, 2012: $111,006) was payable to 0787129 B.C. Ltd. of which $51,272 and $34,827 were the result of the assignment and transfer from loan payable to ATP Corporate Services Corp. and Bobcat Development, respectively. The loan amount is unsecured, interest-bearing at 12% per annual and due on demand. During the period ended December 31, 2012, the Company incurred and accrued interest expense of $6,779 (six months ended December 31, 2011: $4,624).

 

$10,214 (June 30, 2011: $Nil) was payable to Bobcat Development (a non-related party). The loan amount is unsecured, interest-bears at 12% per annual and due on demand. During the period ended December 31, 2012, the Company incurred and accrued interest expenses of $263 (six months ended December 31, 2011: $nil).