LONG-TERM DEBT

3 Months Ended

Sep. 30, 2013

Debt Disclosure [Abstract]

LONG-TERM DEBT

5. LONG-TERM DEBT

Long-term debt consists of the following:

	September 30,		June 30,
	2013		2013
	(unaudited)
Capital lease obligations	$	312,356	$	345,925
Loan agreement		104,459		23,981
		416,815		369,906
Less current portion		332,052		247,152
	$	84,763	$	122,754

During July 2013, the Company entered into a capital lease for office equipment totaling $22,036 due in 24 monthly installments of $1,033 through July 2015.

During August 2013, the Company financed a portion of the premiums for various insurance policies totaling $101,850, due in nine monthly payments through April 2014 at an interest rate of 5.27%.