Quarterly report pursuant to Section 13 or 15(d)

Notes Payable

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Notes Payable
3 Months Ended
Sep. 30, 2017
Promissory Notes Payable/Notes Payable [Abstract]  
NOTE PAYABLE

NOTE 6 - NOTES PAYABLE

 

In June 2017, the Company entered into a note for approximately $276,700 in conjunction with a renewal of its director and officer insurance policy. The interest rate was 2.05% per annum. The note matures on April 9, 2018. At September 30, 2017 and June 30, 2017, the note payable outstanding balances were approximately $194,200 and $276,700, respectively. 

 

In June 2016, the Company entered into a note for approximately $273,700 in conjunction with a renewal of its director and officer insurance policy. The interest rate was 2.1% per annum. The note matured on April 9, 2017 and was repaid during the year ended June 30, 2017.