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13. RETIREMENT PLANS
9 Months Ended
Mar. 31, 2014
Notes to Financial Statements  
RETIREMENT PLANS

NOTE 13 - 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 $29,484 and $97,629 for the three and nine months ended March 31, 2014, respectively.  Expenses under these plans were $33,307 and $98,457 for the three and nine months ended March 31, 2013, respectively.