Loans Payable - Related Parties

9 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Loans Payable - Related Parties

22. Loans Payable – Related Parties

On July 7, 2016, SWC received a loan from an employee. The loan bears no interest and amortized on a monthly basis over the life of the loan. As of March 31, 2021 and June 30, 2020, the balance of the loan was $63,778 and $35,943, respectively.

Starting on September 30, 2020, the Company received loans from related parties. The loans bear no interest. As of March 31, 2021 and June 30, 2020, the balance of the loans was $174,372 and $0, respectively.

As of March 31, 2021 and June 30, 2020, the Company had an outstanding loan balance – related parties of $238,150 and $35,943, respectively.