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6. SHORT-TERM BORROWINGS FROM BANKS
9 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
NOTE 6 - SHORT-TERM BORROWINGS FROM BANKS

Short-term borrowings from banks consisted of the following as of:

 

  March 31, 2013   June 30, 2012 

Loan dated June 2011, due to a financial institution, with monthly interest payments (interest rate of 8.90% per annum), and the original remaining balance due September 2011, which was extended to September 2013 (interest rate of 7.36% per annum as extended)

  $139,134   $139,134