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Loans payable - related parties

3 Months Ended

Sep. 30, 2018

15.

Loan payable – related parties

On July 7, 2016, SWC received a loan from an employee. The amount of the loan bore no interest and amortized on a monthly basis over the life of the loan. As of September 30, 2018 and June 30, 2018, the balance of the loan were $30,000 and $30,000, respectively.

From time to time, SWC would receive short-term loans from LMK Capital, LLC (“LMK”) for its working capital needs. As of September 30, 2018 and June 30, 2018, the Company had outstanding balance of $104,271 and $0, respectively, borrowed from LMK Capital., LLC, a company affiliated with CEO Chan.

From time to time, SWC would receive short-term loans from company former director for its working capital needs. As of September 30, 2018 and June 30, 2018, the Company had outstanding balance of $167,121 and $0, respectively,