DEBT

12 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

DEBT

NOTE 10 - DEBT

The Company’s debt consisted of the following:

	June 30, 2017		June 30, 2016
Current maturities of long-term debt	$	317,497	$	332,707
Long-term debt		740,586		1,057,720
Total	$	1,058,083	$	1,390,427

Bank loans, notes payable and other debt consisted of the following:

	As of June 30,
	2017		2016
Note payable to Wisconsin Econcomic Development Corporation payable in monthly installments of $23,685, including interest at 2%, with the final payment due May 1, 2018; collateralized by equipment purchased with the loan proceeds and substantially all assets of the Company not otherwise collateralized.	$	257,960	$	534,009
Bank loan payable in fixed monthly installments of $6,800 of principal and interest at a rate of 0.25% below prime, as defined, subject to a floor of 5% with any remaining principal and interest due at maturity on June 1, 2018; collateralized by the building and land.		468,297		524,592
Equipment finance obligation, interest payable in quarterly installments ranging between $1,510 and $2,555 at an imputed interest rate of approximately 2.44% over 20 years. See Note 15 for discussion of sale-leaseback transaction.		331,826		331,826
	$	1,058,083	$	1,390,427

Maximum aggregate annual principal payments for fiscal periods subsequent to June 30, 2017 are as follows:

2018	$	317,497
2019		408,760
2020		-
2021		-
2022		-
Thereafter		331,826
	$	1,058,083