Leases of Lessee Disclosure

6 Months Ended

Dec. 31, 2016

Notes

Leases of Lessee Disclosure

Effective July 1, 2016, the Company agreed to terminate its lease agreement with Temple CB (see Note 3). During the six months ended December 31, 2016, relating to the termination of the lease agreement, the Company recorded a gain on the termination of the deferred lease obligation of $636,154. As the deferred lease obligation was to a related party (Temple CB), the Company recorded the gain as a contribution to Additional Paid-in Capital on the December 31, 2016 condensed Consolidated Statement of Shareholders’ Deficit.