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RELATED PARTY TRANSACTIONS
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6 Months Ended |
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Dec. 31, 2011
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| Notes to Financial Statements | |
| RELATED PARTY TRANSACTIONS |
NOTE 9 – RELATED PARTY TRANSACTIONS
Since inception, Propanc Health Group Corporation has conducted transactions with directors and director related entities. These transactions included the following:
As of December 31, 2011, the Company owed a director a total of $75,288, for money loaned to the Company throughout the years. The loan balance owed at December 31, 2011 was not accruing interest (See Note 5).
As of December 31, 2011, the Company owed two directors a total of $63,762, respectively, related to expenses incurred on behalf of the Company related to corporate startup costs and intellectual property (See Note 4).
In August 2011, the Company issued 63,234 shares of common stock to a related party (See Note 7). |