FINANCE RECEIVABLES

12 Months Ended

Jun. 30, 2013

3. FINANCE RECEIVABLES

Finance Receivables consist of the following:

	June 30,

	2013		2012
Total finance receivables	$	525,118	$	542,847
Less current portion		116,444		206,649
Non-current portion of finance receivables	$	408,674	$	336,198

As of June 30, 2013 and 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 June 30, 2013

Credit risk profile based on payment activity:
	Leases

Performing	$	525,118
Nonperforming		-
Total	$	525,118

Age Analysis of Past Due Finance Receivables

As of June 30, 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	$	-	$	814	$	-	$	814	$	524,304	$	525,118
Total	$	-	$	814	$	-	$	814	$	524,304	$	525,118

Age Analysis of Past Due Finance Receivables

As of June 30, 2012

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

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