XML 42 R62.htm IDEA: XBRL DOCUMENT v3.3.0.814
NOTE 10 - LONG-TERM DEBT, NOTES PAYABLE AND CAPITAL LEASES Long-Term Debt, Notes Payable And Capital Leases - (Details) - USD ($)
12 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Current portion of Long Term Debt, Notes Payable and Capital Leases $ 2,490,146 $ 2,890,816
Long Term Debt, Notes Payable and Capital Leases less Current Portion 5,699,302 8,481,830
Long Term Note 1    
Long Term Debt, Notes Payable and Capital Leases $ 416,844 439,983
Long Term Debt, Notes Payable and Capital Leases Description

Note payable requiring monthly payments of interest at a rate of 7% until May 2009 followed by 240 monthly payments of $4,472 through October 2026. The loan is collateralized by a building with a net book value of $618,337 as of June 30, 2015.
 
Long Term Note 2    
Long Term Debt, Notes Payable and Capital Leases $ 0 300,000
Long Term Debt, Notes Payable and Capital Leases Description
The revolving credit note is due by March 5, 2016. The Company can prepay the loan in whole or part in multiples of $100,000 at any time without penalty. The note bears interest at a rate of 4% per annum and is payable monthly. The loan is collateralized by substantially all of the Company’s assets. The loan also contains certain financial covenants that must be met on a periodic basis.  The note was paid in full September 2, 2014. The Company still has the ability to draw down on the line.
 
Long Term Note 3    
Long Term Debt, Notes Payable and Capital Leases $ 7,149,986 9,349,994
Long Term Debt, Notes Payable and Capital Leases Description
The term loan is payable with interest only for 6 consecutive months commencing at the inception of the loan followed by 60 consecutive monthly installments, commencing October 1, 2013. The term loan bears interest at 4.75% per annum and is payable monthly. The loan is collateralized by substantially all of the Company’s assets. The loan also contains certain financial covenants that must be met on a periodic basis.
 
Long Term Note 4    
Long Term Debt, Notes Payable and Capital Leases $ 488,499 660,911
Long Term Debt, Notes Payable and Capital Leases Description
Note payable requiring 12 consecutive interest only payments commencing at the inception of the loan followed by 48 consecutive monthly payments, commencing May 1, 2014. The note bears interest at a rate of 4.75% per annum and is payable monthly.  The loan is collateralized by substantially all of the Company’s assets. The loan also contains certain financial covenants that must be met on a periodic basis.
 
Long Term Note 5    
Long Term Debt, Notes Payable and Capital Leases $ 134,119 $ 621,758
Long Term Debt, Notes Payable and Capital Leases Description Other (including capital leases for property and equipment).