RELATED PARTY TRANSACTIONS

6 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Note C - RELATED PARTY TRANSACTIONS

Common Shares Issued to Executive and Non-Executive Officers and Directors

As of December 31, 2016 total 6,588,010 shares were issued to officers and directors, and there’s total of 7,964,090 outstanding shares as of December 31, 2016.

Loans to Officer/Shareholder

From the period of April 1 2012 to February 28, 2013, the company’s formerly officer, Keming Li, loaned $ 25,787 to First America Resources formerly known as Golden Oasis New Energy Group Inc without interest without written agreement. The payment term is on demand.

On February 6, 2013, Mr. Keming Li sold his shares to Mr. Jian Li, and Mr. Jian Li became the loan holder for all the prior loans advanced by formerly officer Mr. Keming Li. As of March 31, 2013, the total loans from shareholder or officer was $25,787.

Loans to Officer/Shareholder (Continued)

For the period of April 1, 2013 to June 30, 2015, the officer and shareholder Jian Li additionally loaned $ 36,300 to the Company for continually operating of the business.

For the period of July 1, 2015 to June 30, 2016, the officer and shareholder Jian Li additionally loaned $ 36,000 to the Company for continually operating of the business.

For the period of July 1, 2016 to December 31, 2016, the officer and shareholder Jian Li additionally loaned $ 29,000 to the Company for continually operating of the business.

Therefore, there’s total of $ 127,087 outstanding loan from officer and director, Jian Li as of December 31, 2016.