FINANCE RECEIVABLES

6 Months Ended

Dec. 31, 2012

Receivables [Abstract]

FINANCE RECEIVABLES

2. FINANCE RECEIVABLES

Finance Receivables consist of the following:

	December 31,		June 30,
	2012		2012
	(unaudited)
Total finance receivables	$	518,145	$	542,847
Less current portion		110,363		206,649
Non-current portion of finance receivables	$	407,782	$	336,198

As of December 31, 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 December 31, 2012
Credit risk profile based on payment activity:
	Leases
Performing	$	518,145
Nonperforming		-
Total	$	518,145

Age Analysis of Past Due Finance Receivables
As of December 31, 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	$	1,032	$	654	$	-	$	1,686	$	516,459	$	518,145
Total	$	1,032	$	654	$	-	$	1,686	$	516,459	$	518,145