RETIREMENT PLANS

12 Months Ended

Jun. 30, 2018

Retirement Benefits [Abstract]

RETIREMENT PLANS

NOTE 14 - RETIREMENT PLANS

The Company sponsors a defined contribution retirement plan under Section 401(k) of the Internal Revenue Code (“IRC”), the EnSync, Inc. 401(k) Savings Plan. Employees may elect to contribute up to the IRS annual contribution limit. The Company matches employees’ contributions up to 4% of eligible compensation and Company contributions are limited in any year to the amount allowable by government tax authorities. Eligible employees are 100% immediately vested.

Total employer contributions recognized in the consolidated statements of operations under this plan were $193,899 and $190,585 for the years ended June 30, 2018 and June 30, 2017, respectively.