Note 6 - Significant Risks and Uncertainties

9 Months Ended

Mar. 31, 2013

Concentration Risk Disclosure [Text Block]

Note 6. Significant Risks and Uncertainties

(a) Major Customers. For the three and nine months ended March 31, 2013, approximately 80% and 74%, respectively of total net sales were derived from two customers as compared to approximately 77% and 79% of total net sales derived from two customers in the three and nine months ended March 31, 2012, respectively. Accounts receivable as of March 31, 2013 from these customers represented approximately 60% of total accounts receivable. The loss of any of these customers would have an adverse affect on the Company’s operations.  Major customers are those customers who account for more than 10% of net sales.

(b) Other Business Risks. Approximately 62% the Company’s employees are covered by a union contract and are employed in its New Jersey facilities. The union contract was renewed in May 2012 and expires in August 2015.