RIGHT TO USE LEASE ASSETS

12 Months Ended

Jun. 30, 2020

Disclosure Text Block [Abstract]

Leases of Lessee Disclosure [Text Block]

NOTE 3 – RIGHT TO USE LEASE ASSETS

Based on our lease accounting policy, we have identified the following operating leases. As of June 30, 2020, we have no financing leases:

	For the Years Ended June 30,
	2020			2019
Facility lease	$	594,000		$	735,000
Leasehold improvements related to our facility		280,376			280,376
Accumulated amortization – leasehold improvements		(182,369	)		(170,120	)
Right to use leased assets, operating, net	$	692,007		$	845,256

In March 2019, we negotiated a five year extension of the lease on our executive office and manufacturing facility located at 1501 Industrial Road, Boulder City, Nevada.  The property consists of a 49,200 square foot building.  We currently occupy all 49,200 square feet, inclusive of approximately 5,500 square feet of office space, situated on approximately 4.15 acres.  Our remaining liability under this agreement is $629,250 payable at amounts ranging from $12,150 to $12,600 a month until June 30, 2024.

Total lease costs for the years ended June 30, 2020 and 2019 was $141,000 and $138,000, respectively.