FINANCE RECEIVABLES

9 Months Ended

Mar. 31, 2015

Receivables [Abstract]

FINANCE RECEIVABLES

2. FINANCE RECEIVABLES

Finance Receivables consist of the following:

	March 31, 2015		June 30, 2014
	(unaudited)
Total finance receivables	$	4,254,879	$	472,587
Less current portion		749,631		119,793
Non-current portion of finance receivables	$	3,505,248	$	352,794

As of March 31, 2015 and June 30, 2014, 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, 2015

(unaudited)

Credit risk profile based on payment activity:
	Leases
Performing	$	4,248,673
Nonperforming		6,206
Total	$	4,254,879

Age Analysis of Past Due Finance Receivables

As of March 31, 2015

(unaudited)

	31 – 60 Days Past Due		61 – 90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Current		Total Finance Receivables
Leases	$	3,537	$	515	$	2,154	$	6,206	$	4,248,673	$	4,254,879
Total	$	3,537	$	515	$	2,154	$	6,206	$	4,248,673	$	4,254,879