LOANS |
9 Months Ended | |
|---|---|---|
Mar. 31, 2016 | ||
| Receivables [Abstract] | ||
| Financing Receivables [Text Block] |
NOTE 4 LOANS Loans from Directors and Officer - Related Parties Loans from Directors and an Officer at March 31, 2016 and June 30, 2015 were $56,743 and $79,416, respectively. The loans bear no interest and are all past their due date and in default. The Company repaid cash of $21,491 (AUD$29,744) of these loans during the nine months ended March 31, 2016. Other Loans from Unrelated Parties As of June 30, 2015, other loans from unrelated parties balance was $27,558. During the nine months ended March 31, 2016, the Company repaid cash of $23,843 (AUD$33,000) and a foreign currency transaction gain of $1,415 resulting in a balance of $2,300 as of March 31, 2016. |