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Note 5 - Notes Receivable
9 Months Ended
Mar. 31, 2015
Notes  
Note 5 - Notes Receivable

NOTE 5 – NOTES RECEIVABLE

 

On August 31, 2010, the Company sold its wholly-owned subsidiary, Commission River Corporation. As part of the payment for the sale, the Company was issued a secured negotiable promissory note receivable, in the amount of $490,000, with varying interest rates beginning at 6% and required monthly payments of $10,000 until its maturity on September 12, 2014.  The remaining principal balance was paid in full on September 12, 2014.