NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2019

NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

Schedule of property plant and equipment depreciated over the estimated useful life

Buildings	39 years
Machinery and equipment	5 – 7 years
Trucks and autos	5 years
Office equipment	5 – 7 years
Leasehold improvements	Lesser of estimated useful life or the lease term

Schedule of antidilutive shares excluded from computation of earnings per share

	2019	2018
Shares Issuable Upon Conversion of Series A Prior Cumulative Preferred Stock	400,000	400,000
Shares Issuable Upon Conversion of Series B Prior Cumulative Preferred Stock	375,000	375,000
Shares Issuable Upon Conversion of Series A Cumulative Preferred Stock	222,133	222,133
Shares Issuable Upon Conversion of Series B Cumulative Preferred Stock	36,201	36,201
Total Dilutive Effect of Contingently Issuable Shares	1,033,334	1,033,334

Schedule of divisions of revenue

For the year ended June 30,	2019		2018
Sales - Chase Candy	$	1,408,187	$	1,481,267
Sales - Seasonal Candy		1,112,446		1,198,969
Sales	$	2,520,633	$	2,680,236

Schedule of impact of recently adopted pronouncements on our consolidated statement of operation and balance sheet

	Balance at		Adjustment		Balance at
	June 30, 2018		Upon Adoption		July 1, 2018
Balance Sheet
Accounts Payable	$	135,311	$	(12,900)	$	122,411
Refund Liability Owed to Customers		—		12,900		12,900

	As of and for the year ended June 30, 2019
	Current					Previous
	Standard		Change		Standard
Balance Sheet
Accounts Payable	$	78,549	$	10,403	$	88,952
Refund Liability Owed to Customers		10,403		(10,403)		—
Statement of Operations
Sales	$	2,520,633	$	66,978	$	2,587,611
Selling Expenses		284,410		66,978		351,388