Supplemental disclosure of cash flow information

9 Months Ended

Mar. 31, 2016

Supplemental disclosure of cash flow information [Text Block]

Note 3 – Supplemental disclosure of cash flow information

For the nine months ended March 31, 2016 and 2015, the Company paid interest in the amounts of approximately $0.6 million and $1.1 million, respectively.

Cash payments for income tax for the nine months ended March 31, 2016 and 2015 were approximately $0.1 million and $0.5 million, respectively.

Non-cash investing and financing activities

During the nine months ended March 31, 2016, pursuant to certain three-party settlement agreements, the Company offset capital lease obligations with prepayment and advances on equipment purchase for approximately $0.7 million, and with accounts and notes receivable for approximately $0.2 million. The Company had payables of approximately $0.2 million as a result of acquisition of property and equipment.

The Company had receivables of approximately $0.8 million as a result of disposal of property, plant and equipment during the nine months ended March 31, 2015. The Company offset prepayments with addition of property, plant and equipment for approximately $0.1 million during the nine months ended March 31, 2015. The Company issued stock to payoff shareholder debt of approximately $0.9 million (see Note 12).