Loans and Notes Payable
|6 Months Ended|
Dec. 31, 2017
|Loans And Notes Payable|
|Loans and Notes Payable||
NOTE 4 – LOANS AND NOTES PAYABLE
Loans from Directors and Officer - Related Parties
Loans from Directors and Officer at December 31, 2017 and June 30, 2017 were $57,831 and $56,802, respectively. The loans bear no interest and are all past their due date and in default. The Company did not repay any amount on these loans during the six months ended December 31, 2017.
Other Loans from Unrelated Parties
As of December 31, 2017 and June 30, 2017, other loans from unrelated parties had a balance of $2,345 and $2,303, respectively. The Company did not repay any money toward these loans and a foreign currency transaction loss of $42 was recorded in connection with these loans for the six months ended December 31, 2017.