BORROWINGS

3 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

NOTE 5. BORROWINGS

As of September 30, 2016, the Company has no borrowings or long-term liabilities.

The Company has access to a $1 million credit facility for working capital purposes. The credit agreement requires the Company to maintain certain covenants; the Company has been in compliance with these covenants during the current fiscal year. The credit agreement will expire on May 31, 2017, and the Company intends to renew annually. The credit facility is collateralized by $1 million at September 30, 2016, held in deposit in a money market account at the financial institution that provided the credit facility. As of September 30, 2016, the credit facility remains unutilized by the Company.