Loans payable	6 Months Ended
Dec. 31, 2014
Loans Payable
Loans payable	*14. Loans payable* On August 14, 2009, SWC entered a loan agreement with a bank for $50,000 with maturity on August 14, 2016. The loan had an annual interest rate of 7% with monthly payment of $754.66. At December 31, 2014, the outstanding balance under this loan was $14,883. On March 1, 2012, SWC entered an equipment loan agreement with a bank with maturity on January 1, 2017. The monthly payment is $434.60. At December 31, 2014, the outstanding balance under this loan was $10,364. On July 1, 2012, SWC entered an equipment loan agreement with a bank with maturity on June 1, 2017. The monthly payment is $254.61. At December 31, 2014, the outstanding balance under this loan was $7,038. On March 5, 2013, SWC entered an auto loan agreement with a financial service company for $32,312. The loan had monthly payment of $538.52, bore no interest with maturity on March 5, 2018. At December 31, 2014, the outstanding balance under this loan was $20,464. On April 30, 2014, SWC entered a promissory note agreement with a bank for its working capital needs with maturity on August 3, 2015. The principal amount of the loan was $228,000 and the repayment amount was $303,240 with daily payment of $963. At December 31, 2014, the outstanding balance under this loan was $126,157. On September 3, 2014, SWC entered an agreement with a lending company for its working capital needs with maturity on March 6, 2015. The principal amount of the loan was $200,000 and the repayment amount was $279,800 with daily payment of $2,331,67. At December 31, 2014, the outstanding balance under this loan was $75,993. On December 18, 2014, SWC entered an agreement with a lending company for its working capital needs with maturity on May 28, 2015. The principal amount of the loan was $125,000 and the repayment amount was $174,875 with daily payment of $1,457. At December 31, 2014, the outstanding balance under this loan was $116,256. In addition, at December 31, 2014, the Company borrowed $20,000 from one of its directors, $168,307 from LMK Capital, LLC and $53,227 from others for its working capital needs. These borrowings bore no interest, and were payable upon demand.

Loans payable

6 Months Ended

Dec. 31, 2014

14. Loans payable

On August 14, 2009, SWC entered a loan agreement with a bank for $50,000 with maturity on August 14, 2016. The loan had an annual interest rate of 7% with monthly payment of $754.66. At December 31, 2014, the outstanding balance under this loan was $14,883.

On March 1, 2012, SWC entered an equipment loan agreement with a bank with maturity on January 1, 2017. The monthly payment is $434.60. At December 31, 2014, the outstanding balance under this loan was $10,364.

On July 1, 2012, SWC entered an equipment loan agreement with a bank with maturity on June 1, 2017. The monthly payment is $254.61. At December 31, 2014, the outstanding balance under this loan was $7,038.

On March 5, 2013, SWC entered an auto loan agreement with a financial service company for $32,312. The loan had monthly payment of $538.52, bore no interest with maturity on March 5, 2018. At December 31, 2014, the outstanding balance under this loan was $20,464.

On April 30, 2014, SWC entered a promissory note agreement with a bank for its working capital needs with maturity on August 3, 2015. The principal amount of the loan was $228,000 and the repayment amount was $303,240 with daily payment of $963. At December 31, 2014, the outstanding balance under this loan was $126,157.

On September 3, 2014, SWC entered an agreement with a lending company for its working capital needs with maturity on March 6, 2015. The principal amount of the loan was $200,000 and the repayment amount was $279,800 with daily payment of $2,331,67. At December 31, 2014, the outstanding balance under this loan was $75,993.

On December 18, 2014, SWC entered an agreement with a lending company for its working capital needs with maturity on May 28, 2015. The principal amount of the loan was $125,000 and the repayment amount was $174,875 with daily payment of $1,457. At December 31, 2014, the outstanding balance under this loan was $116,256.

In addition, at December 31, 2014, the Company borrowed $20,000 from one of its directors, $168,307 from LMK Capital, LLC and $53,227 from others for its working capital needs. These borrowings bore no interest, and were payable upon demand.