Quarterly report pursuant to Section 13 or 15(d)

LOANS

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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.