11. COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Purchase Agreement Commitment

On May 29, 2015 the Company and Gourmet Foods, Ltd., a New Zealand company, entered into a Sale and Purchase of a Business agreement. On June 23, 2015, pursuant to the terms of the agreement, the Company paid $182,931 (equal to $260,000 New Zealand dollars) to Gourmet Foods, Ltd. as a deposit against the final purchase price estimated to total $2,511,050 in New Zealand currency.

As mentioned in Note 14 Subsequent Events, the acquisition was closed on August 11, 2015 and Gourmet Foods, Ltd became a wholly owned subsidiary of the Company. Refer to Note 14 for further details.

Litigation

On May 6, 2002, a default judgment was awarded to Brookside Investments Ltd. against, jointly and severally, Concierge, Inc., Allen E. Kahn, and The Whitehall Companies in the amount of $135,000 plus legal fees.  As of May 7, 2012, the judgment had lapsed due to the passage of time and the creditor’s failure to renew. Although a new court action would be required by the plaintiff in order to seek legal remedies, the Company has accrued the amount of $135,000 in the accompanying financial statements as accrued expenses as of June 30, 2015.