6. SHORT-TERM BORROWINGS

9 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

SHORT-TERM BORROWINGS

Short-term borrowings consisted of the following as of:

	March 31, 2016		June 30, 2015
Loan dated June 2011, due to a financial institution, with monthly interest payments (interest rate of 8.90% per annum), and the principal balance due March 2016 (interest rate of 5.025% per annum as extended).  The loan was paid off in full during the three months ending March 31, 2016.	$	–	$	148,295

The short-term borrowings of $0 and $148,295 as of March 31, 2016 and June 30, 2015, respectively, resulted from the consolidation of FTI’s debt.