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Other Assets
3 Months Ended
Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Assets

NOTE 5 – OTHER ASSETS

 

The Other Assets comprise of the following as of September 30, 2016 and June 30, 2016:

 

    September 30, 2016     June 30, 2016  
             
Loans Receivable   $ 66,955     $ 66,955  
Deposit for purchase   $ 75,000     $ 75,000  
Total Other Assets   $ 141,955     $ 141,955  

 

During the year ended June 30, 2011, the Company signed a consulting agreement to assist Agent155 Media Corp., a Delaware corporation, with respect to its corporate restructuring and business combination with Freshwater Technologies, Inc., a Nevada corporation. As part of the restructuring requirements, the Company made payment to Manning Elliot LLP in the amount of $24,476 on behalf of Freshwater Technologies, Inc. and other loan amounts to Agent155 Media Corp. As of June 30, 2014, Christopher Martinez, the President of Agent155 Media Corp., assumed the balance of $66,955 from Agent155 Media Corp. as his personal obligations to the Company.

 

As of September 30, 2016, the total amounts owed by Christopher Martinez and the deposit for purchase were collectively reported as Other Assets totaling $141,955.