Unsecured Notes Payable

3 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Unsecured Notes Payable

NOTE 9. UNSECURED NOTES PAYABLE

Unsecured notes payable at September 30, 2018 and June 30, 2018 consisted of the following:

	September 30, 2018		June 30, 2018
Current debt:	(in thousands)
20% Unsecured note, interest only, due January 2, 2019 (1)	$	300	$	300
20% Unsecured note, interest only, due May 1, 2019 (4)		200		200
20% Unsecured note, bi-weekly principal and interest, due March 1,2019 (5)		134		214
20% Unsecured note, bi-weekly principal and interest, due October 26, 2018 (6)(9)		—		99
20% Unsecured note, bi-weekly principal and interest, due September 7, 2018 (7)(8)		—		52
20% Unsecured note, bi-weekly principal and interest, due July 26, 2019(8)		215		—
20% Unsecured note, interest only, due July 31, 2019 (3)		100		—
20% Unsecured note, bi-weekly principal and interest, due September 13, 2019 (9)		290		—
Total current debt		1,239		865
Long-term debt:
20% Unsecured note, interest only, due October 31, 2019 (2)		100		100
20% Unsecured note, interest only, due July 31, 2019 (3)		—		100
Total long-term debt		100		200
Total unsecured notes payable	$	1,339	$	1,065

(1) Unsecured note payable for $300,000 to an individual, with interest at 20%, payable monthly; principal originally due in full on  January 3, 2013; extended to January 2, 2019. Personally guaranteed by principal stockholder.

(2) Unsecured note payable for $100,000 to an individual with interest at 20% payable monthly; principal originally due in full on October 31, 2014; extended to October 31, 2019. Personally guaranteed by principal stockholder.

(3) Unsecured note payable for $100,000 to an individual, with interest at 20% payable monthly; principal due in full on July 31, 2013; extended by the holder to July 31, 2019. Personally guaranteed by principal stockholder.

(4) Unsecured note payable for $200,000 to an individual, with interest payable monthly at 20%, principal due in full on May 1, 2013; extended to May 1, 2019. Personally guaranteed by principal stockholder.

(5) Unsecured note payable for $300,000 to two individual shareholders with interest at 20%, principal and interest paid bi-weekly, maturing March 1, 2019. Personally guaranteed by principal stockholder.

(6) Unsecured note payable for $300,000 to two individual shareholders with interest at 20%, principal and interest paid bi-weekly, maturing October 26, 2018. The note was repaid in full on September 13, 2018. Personally guaranteed by principal stockholder.

(7) Unsecured note payable for $250,000 to two individual shareholders with interest at 20%, principal and interest paid bi-weekly, maturing September 7, 2018. The note was repaid in full on July 30, 2018. Personally guaranteed by principal stockholder.

(8) Unsecured note payable for $250,000 to two individual shareholders with interest at 20%, principal and interest paid bi-weekly, maturing July 26, 2019. $31,452 from the proceeds of this unsecured note payable was used to retire the balance of the unsecured note maturing on September 7, 2018. Personally guaranteed by principal stockholder.

(9) Unsecured note payable for $300,000 to two individual shareholders with interest at 20%, principal and interest paid bi-weekly, maturing September 13, 2019. $37,743 from the proceeds of this unsecured note payable was used to retire the balance of the unsecured note maturing October 26, 2018. Personally guaranteed by principal stockholder.