XML 31 R18.htm IDEA: XBRL DOCUMENT v3.3.1.900
NOTES PAYABLE - RELATED PARTIES (Details) - USD ($)
Dec. 31, 2015
Jun. 30, 2015
Notes payable and other debt to related parties:    
Total $ 240,000 $ 303,901
Less: Current portion $ (240,000) (153,901)
Long-term portion   150,000
Loan payable - related party    
Notes payable and other debt to related parties:    
Total [1] 3,901
Unsecured promissory note due to related party    
Notes payable and other debt to related parties:    
Total [2] $ 120,000 150,000
Unsecured promissory note due to related party    
Notes payable and other debt to related parties:    
Total [3] $ 120,000 $ 150,000
[1] As of June 30, 2015, the Company had a loan payable due to a family member of the former CEO in the amount of $3,901. During the period ended December 31, 2015, the $3,901 balance was repaid and no amount was owed under the agreement as of December 31, 2015.
[2] In February 2014, the Company entered into an unsecured promissory note agreement with a shareholder. The agreement allows for the Company to borrow up to $150,000 at an interest rate of 10 percent per year. On October 30, 2015, $30,000 principal and $25,039 interest were converted into 1,375,975 shares of the Company's common stock. As at December 31, 2015 and June 30, 2015, the outstanding balance of the note was $120,000 and 150,000, respectively. The outstanding principal amount and all accrued and unpaid interest is due by December 2016.
[3] In February 2014, the Company entered into an unsecured promissory note agreement with a shareholder. The agreement allows for the Company to borrow up to $150,000 at an interest rate of 10 percent per year. On October 30, 2015, $30,000 principal and $24,754 interest were converted into 1,368,872 shares of the Company's common stock. As at December 31, 2015 and June 30, 2015, the outstanding balance of the note was $120,000 and 150,000, respectively. The outstanding principal amount and all accrued and unpaid interest is due by January 2016.