FINANCE RECEIVABLES

6 Months Ended

Dec. 31, 2013

Receivables [Abstract]

FINANCE RECEIVABLES

2. FINANCE RECEIVABLES

Finance Receivables consist of the following:

	December 31,		June 30,
	2013		2013
	(unaudited)
Total finance receivables	$	459,713	$	525,118
Less current portion		112,902		116,444
Non-current portion of finance receivables	$	346,811	$	408,674

As of December 31, 2013 and June 30, 2013, 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, 2013
(unaudited)
Credit risk profile based on payment activity:
	Leases
Performing	$	459,713
Nonperforming		-
Total	$	459,713

Age Analysis of Past Due Finance Receivables
As of December 31, 2013
(unaudited)
	31 – 60		61 – 90		Greater than						Total
	Days Past Due		Days Past  Due		90 Days  Past Due		Total Past  Due		Current		Finance  Receivables
Leases	$	963	$	943	$	-	$	1,906	$	457,807	$	459,713
Total	$	963	$	943	$	-	$	1,906	$	457,807	$	459,713