General form of registration statement for all companies including face-amount certificate companies

Loans and Notes Payable

v3.19.1
Loans and Notes Payable
9 Months Ended 12 Months Ended
Mar. 31, 2019
Jun. 30, 2018
Loans And Notes Payable    
Loans and Notes Payable

NOTE 4 – LOANS AND NOTES PAYABLE

 

Loans from Directors and Officer - Related Parties

 

Loans from the Company’s directors and officer at March 31, 2019 and June 30, 2018 were $52,570 and $54,753, respectively. The loans bear no interest and are all payable on demand. The Company did not repay any amount on these loans during the nine months ended March 31, 2019.

NOTE 5 – LOANS AND NOTES PAYABLE

 

Loans from Directors and Officer - Related Parties

 

Loans from Directors and Officer at June 30, 2018 and June 30, 2017 were $54,753 and $56,802, respectively. The loans bear no interest and are all payable on demand. The Company did not repay any amount on these loans during the years ended June 30, 2018 and 2017. The Company plans to repay the notes as its cash resources allow.

  

Other Loans from Unrelated Parties

 

As of June 30, 2018 and June 30, 2017, other loans from unrelated parties had a balance of $0 and $2,303, respectively. The Company repaid these loans in full during the year ended June 30, 2018.