FINANCE RECEIVABLES

9 Months Ended

Mar. 31, 2013

2. FINANCE RECEIVABLES

Finance Receivables consist of the following:

	March 31,		June 30,
	2013		2012
	(unaudited)
Total finance receivables	$	495,431	$	542,847
Less current portion		113,485		206,649
Non-current portion of finance receivables	$	381,946	$	336,198

As of March 31, 2013 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 March 31, 2013

Credit risk profile based on payment activity:
	Leases

Performing	$	495,431
Nonperforming		-
Total	$	495,431

Age Analysis of Past Due Finance Receivables
As of March 31, 2013

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

Leases	$	9,277	$	-	$	-	$	9,277	$	486,154	$	495,431
Total	$	9,277	$	-	$	-	$	9,277	$	486,154	$	495,431