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Notes Payable
9 Months Ended
Mar. 31, 2015
Debt Disclosure [Abstract]  
NOTES PAYABLE
NOTE 4NOTES PAYABLE

 

Affiliates

 

During the period ended March 31, 2015, the Company borrowed an aggregate of $165,581 from 2 affiliates. The notes bear interest at 8% per annum and are due in March 2016.

 

Others

 

As of June 30, 2014 and March 31, 2015, the Company had borrowed funds pursuant to non-convertible promissory notes, bearing interest at 10% per annum. Interest is payable monthly and the principal, together with any unpaid interest, is due 48 months from the dates of the notes.

 

The notes are due as follows:

 

Year Ended June 30, 2017 $205,000 
Year Ended June 30, 2018  70,000 
  $275,000