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RETIREMENT PLANS
9 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
RETIREMENT PLANS

 

NOTE 14 - RETIREMENT PLANS

 

All Australian based employees are entitled to varying degrees of benefits on retirement, disability, or death.  The Company contributes to an accumulation fund on behalf of the employees under an award which is legally enforceable.  For U.S. employees, the Company has a 401(k) plan.  All active participants are 100% vested immediately.  Expenses under these plans were $20,428 and $63,208 for the three and nine months ended March 31, 2012, respectively.  Expenses under these plans were $11,498 and $33,902 for the three and nine months ended March 31, 2011, respectively.