EMPLOYEE LOANS RECEIVABLE

6 Months Ended

Dec. 31, 2011

EMPLOYEE LOANS RECEIVABLE

4. EMPLOYEE LOANS RECEIVABLE

The employee loans receivable represent receivables from employees other than executive officers for three automobiles sold to these employees. These receivables are secured by the automobiles and the personal assets of the employees. The Company has not imputed any interest on these receivables due to immateriality.

	December 31,			June 30,
	2011			2011
	US$			US$
Loans from employees, secured by their personal assets, receivable in monthly installments of approximately $1,023 bearing no interest through August 2014		17,032			22,558
Less : Current maturities		(8,305	)		(10,662	)
		8,727			11,896