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Subsequent Events
3 Months Ended
Sep. 30, 2011
Subsequent Events  
Subsequent Events [Text Block]

Note 12.   Subsequent Events

 

                On October 10, 2011, HDI Plastics, Inc. entered into an Accounts Receivable Discount line facility with Charter Capital Holdings, L.P.  (“Charter”).   Under the terms of the financing agreement, which is guaranteed by HDI, Charter will advance 80% of eligible receivables up to a total advance of  $1 million. Charter retains a priority and perfected security interest in all accounts receivable and inventory of HDI Plastics, Inc.  The financing cost under the agreement is 0.59% for each 10-day period or an approximate annualized interest cost of approximately 21.25%.