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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Sep. 30, 2017
Accounting Policies [Abstract]  
Schedule of Accounts Receivable
The composition of accounts receivable by aging category is as follows as of:
 
 
 
September 30, 2017
 
June 30, 2017
 
Current
 
$
118,573
 
$
309,156
 
30-60 days
 
 
-
 
 
-
 
60-90 days
 
 
42,278
 
 
-
 
Over 90 days
 
 
43,805
 
 
160,750
 
Total
 
$
204,656
 
$
469,906
 
Estimated Useful Lives Used For Each Class of Depreciable Assets
The estimated useful lives used for each class of depreciable asset are:
 
 
 
Estimated Useful
Lives
Manufacturing equipment
 
3 - 7 years
Office equipment
 
3 - 7 years
Building and improvements
 
7 - 40 years
Schedule Of Accrued Warranty Liability
The following is a summary of accrued warranty activity:
 
 
 
Three months ended September 30,
 
 
 
2017
 
2016
 
Beginning balance
 
$
239,173
 
$
27,207
 
Accruals for warranties during the period
 
 
852
 
 
5,915
 
Net settlements during the period
 
 
(34,610)
 
 
(157,330)
 
Adjustments relating to preexisting warranties
 
 
(8,724)
 
 
148,481
 
Ending balance
 
$
196,691
 
$
24,273
 
Deferred Revenue, by Arrangement, Disclosure
A summary of changes to long-term deferred revenue for extended warranty contracts is as follows:
 
 
 
Three months ended September 30,
 
 
 
2017
 
2016
 
Beginning balance
 
$
431,700
 
$
-
 
Deferred revenue for new extended warranty contracts
 
 
-
 
 
422,638
 
Deferred revenue recognized
 
 
(938)
 
 
-
 
Ending balance
 
 
430,762
 
 
422,638
 
Less: current portion of deferred revenue for extended warranty contracts
 
 
8,124
 
 
-
 
Long-term deferred revenue for extended warranty contracts
 
$
422,638
 
$
422,638