SUBSEQUENT EVENTS

9 Months Ended

Mar. 31, 2018

NOTE 18 - SUBSEQUENT EVENT

On May 8, 2018, the Company filed a lawsuit against SPI in the Circuit Court, Waukesha County of the State of Wisconsin seeking a declaratory judgment releasing the Company from its obligations under the Governance Agreement (the “SPI Dispute”). The complaint in the SPI Dispute asserts, among other things, that the Company should be released from its obligations under the Governance Agreement due to the Doctrine of Frustration of Purpose. As detailed in the complaint, the basis for this claim is that the Company’s principle purpose for entering into the Governance Agreement was as a condition and inducement to SPI to enter into the Supply Agreement, and that due to SPI’s failure to perform its obligations under the Supply Agreement, that purpose was frustrated.