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PROMISSORY NOTES RECEIVABLE
12 Months Ended
Jun. 30, 2019
Receivables [Abstract]  
PROMISSORY NOTES RECEIVABLE

NOTE 3 – PROMISSORY NOTES RECEIVABLE

 

On June 7, 2017, the Company entered into an agreement for a 2.5% promissory note in exchange for lending $200,000 to a third party. The principal of $200,000 was due to the Company forty-five (45) days from receipt of the funds. The principal and $5,000 interest receivable was received on July 17, 2017.

 

On June 12, 2017, the Company entered into an agreement for a 2.5% promissory note in exchange for lending $200,000 to a third party. The principal of $200,000 was due to the Company forty-five (45) days from receipt of the funds. The principal and $5,000 interest receivable was received on July 26, 2017.

 

During the year ended June30, 2019 and 2018, a total amount of $0 and $4,841, respectively was recorded as interest income related to the two $200,000 notes.