FINANCE RECEIVABLES

3 Months Ended

Sep. 30, 2012

Receivables [Abstract]

Finance Receivables

2. FINANCE RECEIVABLES

Finance Receivables consist of the following:

	September 30,		June 30,
	2012		2012
	(unaudited)
Total finance receivables	$	512,016	$	542,847
Less current portion		139,039		206,649
Non-current portion of finance receivables	$	372,977	$	336,198

As of September 30, 2012 and June 30, 2012, 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 September 30, 2012

Credit risk profile based on payment activity:

	Leases
Performing	$	512,016
Nonperforming		-
Total	$	512,016

Age Analysis of Past Due Finance Receivables

As of September 30, 2012

	31 – 60		61 – 90		Greater than						Total
	Days Past		Days Past		90 Days		Total Past				Finance
	Due		Due		Past Due		Due		Current		Receivables
Leases	$	-	$	2,300	$	-	$	2,300	$	509,716	$	512,016
Total	$	-	$	2,300	$	-	$	2,300	$	509,716	$	512,016