Loans payable	9 Months Ended
Mar. 31, 2015
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 March 31, 2015, the outstanding balance under this loan was $12,867. 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 March 31, 2015, the outstanding balance under this loan was $9,170. 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 March 31, 2015, the outstanding balance under this loan was $6,394. 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 March 31, 2015, the outstanding balance under this loan was $18,849. 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 March 31, 2015, the outstanding balance under this loan was $79,347. 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 March 31, 2015, this loan was paid in full. 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 March 31, 2015, the outstanding balance under this loan was $27,362. In addition, at March 31, 2015, the Company had outstanding balance of $63,060 borrowed from one of its directors, $12,583 from one major shareholder’s family member, $20,000 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

9 Months Ended

Mar. 31, 2015

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 March 31, 2015, the outstanding balance under this loan was $12,867.

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 March 31, 2015, the outstanding balance under this loan was $9,170.

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 March 31, 2015, the outstanding balance under this loan was $6,394.

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 March 31, 2015, the outstanding balance under this loan was $18,849.

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 March 31, 2015, the outstanding balance under this loan was $79,347.

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 March 31, 2015, this loan was paid in full.

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 March 31, 2015, the outstanding balance under this loan was $27,362.

In addition, at March 31, 2015, the Company had outstanding balance of $63,060 borrowed from one of its directors, $12,583 from one major shareholder’s family member, $20,000 from LMK Capital, LLC, and $53,227 from others for its working capital needs. These borrowings bore no interest, and were payable upon demand.