FINANCE RECEIVABLES

9 Months Ended

Mar. 31, 2014

Receivables [Abstract]

FINANCE RECEIVABLES

2. FINANCE RECEIVABLES

Finance Receivables consist of the following:

	March 31,		June 30,
	2014		2013
	(unaudited)
Total finance receivables	$	432,649	$	525,118
Less current portion		106,837		116,444
Non-current portion of finance receivables	$	325,812	$	408,674

As of March 31, 2014 and June 30, 2013, there was no allowance for credit losses of finance receivables. As the Company collects monthly payments of the receivables from the customers’ transaction funds, the risk of loss was determined to be remote.

Credit Quality Indicators

As of March 31, 2014

(unaudited)

Credit risk profile based on payment activity:
	Leases
Performing	$	432,649
Nonperforming		-
Total	$	432,649

Age Analysis of Past Due Finance Receivables

As of March 31, 2014

(unaudited)

	31 – 60 Days Past  Due		61 – 90 Days Past  Due		Greater than 90 Days  Past Due		Total Past  Due		Current		Total Finance Receivables
Leases	$	2,525	$	751	$	1,490	$	4,766	$	427,883	$	432,649
Total	$	2,525	$	751	$	1,490	$	4,766	$	427,883	$	432,649