NOTE 3 - INVENTORY

9 Months Ended

Mar. 31, 2017

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

NOTE 3 - INVENTORY

Inventory is stated at the lower of cost (computed on a first-in, first-out basis) or net realizable value.  The inventory consists primarily of chemicals, finished goods produced in our plant and products purchased for resale.

	March 31, 2017			June 30, 2016
	(Unaudited)
Raw Materials	$	216,436		$	257,260
Finished Goods		570,441			663,666
Inventory reserve		(45,617	)		(125,981	)
Inventory - net	$	741,260			794,945

Our inventory reserve reflects items that were deemed to be defective or obsolete based on an analysis of all inventories on hand.

In fiscal years 2017 and 2016, the Company critically reviewed all slow moving inventory to determine if defective or obsolete.  If not defective or obsolete we presented these items as non-current inventory because all inventory is ready and available for sale at any moment.  

For those items that are spare maintenance materials or parts kept on hand as backup components of major production equipment, or “store inventories”, the Company capitalizes the amount if above our capitalization policy for property and equipment.  In the past the Company included these items as part of its raw materials inventory.  As of March 31, 2016 these items, amounting to $10,815, have been reclassified into other current assets.