FINANCE RECEIVABLES

12 Months Ended

Jun. 30, 2014

Receivables [Abstract]

FINANCE RECEIVABLES

3. FINANCE RECEIVABLES

Finance Receivables consist of the following:

	June 30,		June 30,
	2014		2013
Total finance receivables	$	472,587	$	525,118
Less current portion		119,793		116,444
Non-current portion of finance receivables	$	352,794	$	408,674

As of June 30, 2014 and 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 June 30, 2014
Credit risk profile based on payment activity:
	Leases
Performing	$	472,587
Nonperforming		-
Total	$	472,587

Age Analysis of Past Due Finance Receivables
As of June 30, 2014
	31 – 60		61 – 90		Greater than						Total
	Days Past  Due		Days Past  Due		90 Days Past  Due		Total Past  Due		Current		Finance Receivables
Leases	$	-	$	909	$	378	$	1,287	$	471,300	$	472,587
Total	$	-	$	909	$	378	$	1,287	$	471,300	$	472,587

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