FINANCE RECEIVABLES

12 Months Ended

Jun. 30, 2012

3. FINANCE RECEIVABLES

Finance Receivables consist of the following:

	June 30,
	2012		2011
Total finance receivables	$	542,847	$	481,387
Less current portion		206,649		285,786
Non-current portion of finance receivables	$	336,198	$	195,601

As of June 30, 2012 and 2011, there was no allowance for credit losses of finance receivables. As the Company collects monthly payments of the receivables from the customers’ transaction funds the risk of loss was determined to be remote.

Credit Quality Indicators
As of June 30, 2012

Credit risk profile based on payment activity:

	Leases

Performing	$	542,847
Nonperforming		-
Total	$	542,847

Age Analysis of Past Due Finance Receivables
As of June 30, 2012

	31 – 60 Days Past Due		61 – 90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Current		Total Finance Receivables

Leases		-		2,057		18,855		20,912	$	521,935	$	542,847
Total	$	-	$	2,057	$	18,855	$	20,912	$	521,935	$	542,847

Age Analysis of Past Due Finance Receivables
As of June 30, 2011

	31 – 60 Days Past Due		61 – 90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Current		Total Finance Receivables

Leases		-		-		-		-	$	481,387	$	481,387
Total	$	-	$	-	$	-	$	-	$	481,387	$	481,387