Loans payable	9 Months Ended
Mar. 31, 2017
Notes to Financial Statements
Loans payable	*14. Loans payable* On January 25, 2017, the Company entered into an agreement with a lending company for $100,000 for its working capital needs. As of March 31, 2017, the Company has an outstanding balance of $63,348. On December 22, 2016, CarryOutSupplies entered an agreement with a lending company for its working capital needs. The loan was payable on the 22nd day from the entering date of the agreement. The principal amount of the loan was $75,000 and the repayment amount was $109,425 including interest with daily payment of $899. At March 31, 2017, the outstanding balance under the loan was $33,728. Reported as of December 31, 2016, the Company had an outstanding balance of $5,053 between two (2) vendors. As of March 31, 2017, the Company now has an outstanding loan balance of $1,599 from one (1) vendor of the Company. On September 21, 2016, the Company received a loan from Greater Asia Technology for $100,000, with prepaid interest of $40,000 and is due on September 30, 2017. As of March 31, 2017, this note had a balance of $100,000. On July 11, 2016, the Company received a loan from Greater Asia Technology for $150,000. There were loan fees of $8,000 associated with origination of the loan, which bears 40% annual interest and is due on January 15, 2017. As of March 31, 2017, this note had a balance of $58,300. On October 28, 2016, the Company received a loan from Autumn Group, LLC for $100,000. It was predetermined interest on the loan would be $100,000. This amount was recorded as a discount to the loan payable amount and is to be amortized on a monthly basis over the life of the loan. The loan is due on September 26, 2017. The loan bears 100% annual interest and is due on November 1, 2017. As of March 31, 2017, this note had a balance of $100,000. On July 1, 2016, the Company entered into a repayment agreement with its employee for $20,280 at no interest. As of March 31, 2017, the Company has an outstanding balance of $20,280. Repayment on this loan will be repaid at a later date with no interest being accrued. On January 6, 2015, the Company entered into repayment agreement with its former employee for a loan of $9,500 at no interest. As of March 31, 2017, the Company has an outstanding balance of $4,076. On July 2, 2015, the Company entered into a repayment agreement for $22,583 at no interest. As of March 31, 2017, the Company has an outstanding balance of $17,583. On July 1, 2012, CarryOutSupplies entered an equipment loan agreement with a bank with maturity on June 1, 2017. The monthly payment is $255. At March 31, 2017, the outstanding balance under this loan was $980. On March 5, 2013, the Company entered an equipment loan agreement with Toyota financial services with maturity date of April 4, 2018. As of March 31, 2017 the balance under this loan is $5,924. During the nine months ended March 31, 2017, the Company received cash proceeds of $700,910 from loans, and repaid $776,505 cash for loans payable.

Loans payable

9 Months Ended

Mar. 31, 2017

14. Loans payable

On January 25, 2017, the Company entered into an agreement with a lending company for $100,000 for its working capital needs. As of March 31, 2017, the Company has an outstanding balance of $63,348.

On December 22, 2016, CarryOutSupplies entered an agreement with a lending company for its working capital needs. The loan was payable on the 22nd day from the entering date of the agreement. The principal amount of the loan was $75,000 and the repayment amount was $109,425 including interest with daily payment of $899. At March 31, 2017, the outstanding balance under the loan was $33,728.

Reported as of December 31, 2016, the Company had an outstanding balance of $5,053 between two (2) vendors. As of March 31, 2017, the Company now has an outstanding loan balance of $1,599 from one (1) vendor of the Company.

On September 21, 2016, the Company received a loan from Greater Asia Technology for $100,000, with prepaid interest of $40,000 and is due on September 30, 2017. As of March 31, 2017, this note had a balance of $100,000.

On July 11, 2016, the Company received a loan from Greater Asia Technology for $150,000. There were loan fees of $8,000 associated with origination of the loan, which bears 40% annual interest and is due on January 15, 2017. As of March 31, 2017, this note had a balance of $58,300.

On October 28, 2016, the Company received a loan from Autumn Group, LLC for $100,000. It was predetermined interest on the loan would be $100,000. This amount was recorded as a discount to the loan payable amount and is to be amortized on a monthly basis over the life of the loan. The loan is due on September 26, 2017. The loan bears 100% annual interest and is due on November 1, 2017. As of March 31, 2017, this note had a balance of $100,000.

On July 1, 2016, the Company entered into a repayment agreement with its employee for $20,280 at no interest. As of March 31, 2017, the Company has an outstanding balance of $20,280. Repayment on this loan will be repaid at a later date with no interest being accrued.

On January 6, 2015, the Company entered into repayment agreement with its former employee for a loan of $9,500 at no interest. As of March 31, 2017, the Company has an outstanding balance of $4,076.

On July 2, 2015, the Company entered into a repayment agreement for $22,583 at no interest. As of March 31, 2017, the Company has an outstanding balance of $17,583.

On July 1, 2012, CarryOutSupplies entered an equipment loan agreement with a bank with maturity on June 1, 2017. The monthly payment is $255. At March 31, 2017, the outstanding balance under this loan was $980.

On March 5, 2013, the Company entered an equipment loan agreement with Toyota financial services with maturity date of April 4, 2018. As of March 31, 2017 the balance under this loan is $5,924.

During the nine months ended March 31, 2017, the Company received cash proceeds of $700,910 from loans, and repaid $776,505 cash for loans payable.