6. SHORT-TERM BORROWINGS

6 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

SHORT-TERM BORROWINGS

Short-term borrowings consisted of the following as of:

	December 31, 2015		June 30, 2015
Loan dated June 2011, due to a financial institution, with monthly interest payments (interest rate of 8.90% per annum), and the principal balance due March 2016 (interest rate of 5.025% per annum as extended)	$	148,295	$	148,295

The short-term borrowings of $148,295 as of December 31, 2015 and June 30, 2015, resulted from the consolidation of FTI’s debt.