Quarterly report pursuant to Section 13 or 15(d)

Prepaid Financing Costs

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Prepaid Financing Costs
9 Months Ended
Mar. 31, 2017
Prepaid Financing Costs [Abstract]  
PREPAID FINANCING COSTS
NOTE 5   PREPAID FINANCING COSTS

 

The Company pays financing costs to consultants and service providers related to certain financing transactions. The financing costs are then amortized over the respective life of the financing agreements. As such, the Company has prepaid $693,280 and $1,287,109 in financing costs at March 31, 2017 and June 30, 2016, respectively. Prepaid financing costs are presented with the net convertible debt as appropriate.

 

The aggregate amortization of prepaid financing cost charged to operations was $209,958 and $169,417 and $622,329 and $344,750 for three and nine months period ended March 31, 2017 and 2016, respectively.