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RELATED PARTY TRANSACTIONS
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3 Months Ended |
|---|---|
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Sep. 30, 2012
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| Notes to Financial Statements | |
| NOTE 10 - 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 September 30, 2012, the Company owed a director a total of $76,790, for money loaned to the Company throughout the years. The loan balance owed at September 30, 2012 was not accruing interest (See Note 5).
During the three months ended September 30, 2012, two directors of the Company loaned $59,320 to support working capital needs. interest (See Note 5).
As of September 30, 2012, the Company owed two directors a total of $65,033, respectively, for expenses incurred on behalf of the Company related to corporate startup costs and intellectual property (See Note 4). |