LOANS |
3 Months Ended | |
|---|---|---|
Sep. 30, 2015 | ||
| Receivables [Abstract] | ||
| Financing Receivables [Text Block] |
NOTE 4 – LOANS Loans from Directors and Officer - Related Parties Loans from Directors and an Officer at September 30, 2015 and June 30, 2015 were $59,360 and $79,416, respectively. The loans bear no interest and are all past their due date and in default. The Company repaid cash of $13,549 (AUD$18,652) of these loans during the three months ended September 30, 2015. Other Loans from Unrelated Parties As of June 30, 2015, other loans from unrelated parties balance was $27,558. During the three months ended September 30, 2015, the Company repaid cash of $19,613 (AUD$27,000) and a foreign currency transaction gain of $1,667 resulting in a balance of $6,278 as of September 30, 2015. |