COMMITMENTS (Tables)

9 Months Ended

Mar. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Schedule of Asset Retirement Obligations

The table below summarizes the asset retirement obligation balances and activity:

 

	March 31, 2017		June 30, 2016
Balance at beginning of period	$	18,759	$	-
Liabilities incurred		-		18,527
Accretion expense		695		232
Balance at end of period	$	19,454	$	18,759

Summary Of Weighted average Discount Rate For Finance And Operating Leases

Information regarding the weighted-average remaining lease term and the weighted-average discount rate for operating leases as of March 31, 2017 and June 30, 2016 are summarized below:

	March 31, 2017			June 30, 2016
Weighted-average remaining lease term (in years)
Operating leases		2.54			1.33
Weighted-average discount rate
Operating leases		5.0	%		5.0	%

Schedule Of Future Minimum Rental Payments For Operating Leases

The table below reconciles the undiscounted cash flows for the first five years and total of the remaining years to the operating lease liabilities recorded in the condensed consolidated balance sheets as of March 31, 2017:

	Operating Leases
2017	$	16,533
2018		69,805
2019		64,297
2020		24,955
2021		-
Thereafter		-
Total undiscounted lease payments		175,590
Present value adjustment		(11,630)
Net operating lease liabilities	$	163,960