Note 12 - Equipment Loans

3 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Loan Commitments [Text Block]

NOTE 12. EQUIPMENT LOANS

As of

September 30, 2018,

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

CD$139,067

(approx.

US$107,794

) 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

September 30, 2018

and

June 30, 2018

reflect the amount of the principal balance which is due within

twelve

months as a current liability of

US$25,749

and

US$46,705,

respectively. Principal amounts under the loans which is due after

twelve

months are recorded in long term liabilities as

US$82,045

and

US$149,491

at

September 30, 2018

and

June 30, 2018

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

three

months ended

September 30, 2018

and

2017

was

US$2,016

and

$2,154,

respectively.