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CAPITAL LEASE (Tables)
3 Months Ended
Sep. 30, 2012
Capital Lease Obligations [Abstract]  
Schedule of Property Subject to or Available for Operating Lease [Table Text Block]

The following is a summary of the property held under the capital lease:  

 

 

 

 

 

September 30,

 

 

 

 

 

2012

 

 

Machinery and equipment

 

$

181,384

 

 

Less accumulated amortization

 

 

63,484

 

 

 

 

$

117,900

 

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

Minimum future lease payments under the capital lease are as follows:

 

 

Year Ending September 30,

 

 

 

 

 

2013

 

$

39,897

 

 

2014

 

 

39,897

 

 

2015

 

 

39,897

 

 

2016

 

 

13,299

 

 

Total minimum lease payments

 

 

132,990

 

 

Less amount representing interest

 

 

13,219

 

 

Present value of minimum lease payments

 

 

119,771

 

 

Less current portion of obligation under capital lease

 

 

44,945

 

 

Long-term portion of obligation under capital lease

 

$

74,826