Note 12 - Equipment Loans

6 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Loan Commitments [Text Block]

NOTE 12 . EQUIPMENT LOANS

As of

December 31, 2017,

Brigadier had, in the aggregate, an outstanding principal balance of

CD$314,817

(approx.

US$250,349

) related to new vehicle purchases. For each vehicle purchased, the loan principal together with interest is amortized over

60

equal monthly installments. The Consolidated Balance Sheets as of

December 31, 2017

and

June 30, 2017

reflect the amount of the principal balance which is due within

twelve

months as a current liability of

US$51,274

and

US$17,388,

respectively. Principal amounts under the loans which is due after

twelve

months are recorded in long term liabilities as

US$199,075

 and

US$72,605

at

December 31, 2017

and

June 30, 2017

respectively. Interest on the loans is expensed or accrued as it becomes due. Total interest on all vehicle loans for the

three

and

six

months ended

December 31, 2017

and was

US$2,712

and

$4,866,

respectively, as

compared to

$0

and

$0

for the

three

and

six

month periods ended

December 31, 2016.