Note 12 - Equipment Loans

9 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Loan Commitments [Text Block]

NOTE 12. EQUIPMENT LOANS

As of

March 31, 2019,

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

CD$122,643

(approx.

US$91,923

) 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

March 31, 2019

and

June 30, 2018

reflect the amount of the principal balance which is due within

twelve

months as a current liability of

US$25,463

 and

US$46,705,

respectively. Principal amounts under the loans which is due after

twelve

months are recorded in long term liabilities as

US$66,461

and

US$149,491

at

March 31, 2019

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

and

nine

months ended

March 31, 2019

and was

US$1,077

and

US$4,209,

respectively, as compared to

US$2,630

and

US$7,596

for the

three

and

nine

month periods ended

March 31, 2018.