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Related Party Transactions
3 Months Ended
Sep. 30, 2016
Related Party Transactions  
Related Party Transactions

12. Related party transactions   

 

As of September 30, 2016, the Company had outstanding balance of $276,013 borrowed from LMK Capital., LLC a company affiliated with CEO Chan. In addition, Mr. Richard Ko, a Director is owed $30,000 and Director Waylon Huang $16,546. These borrowings have no interest, and were payable upon demand.

 

On September 28, 2016, the Company sold 250,000 shares of restricted common stock to an investor for $12,500 pursuant to an exemption from registration relying on Section 4(a)(2) and Rule 506bof Regulation D, under the Securities Act of 1933, as amended. Who is currently working for the company as Senior accountant. Shares have not been issued.