Note 4 - Notes Receivable

12 Months Ended

Jun. 30, 2015

Notes

Note 4 - Notes Receivable

NOTE 4 – 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 note was secured by all of the assets of Commission River Corporation. On September 12, 2014, Commission River Corporation paid all of the remaining principal balance and accrued interest.