NOTE 13 - COMMITMENTS AND CONTINGENCIES - (Details Narrative) - USD ($) |
12 Months Ended | 120 Months Ended | |
---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Dec. 31, 2028 |
|
Rent Expense | $ 5,136,000 | $ 4,688,000 | |
Property Tax Abatement from Suffolk County IDA (dollars) | $ 440,000 | ||
Property Tax Abatement from Suffolk County IDA (%) | 50.00% | ||
Employer Contributions to 401(k) Plan | 0 | 0 | |
Stipulation agreement with creditors | 90,619 | ||
Average Monthly Payment for Stipulation Agreements | 15,859 | ||
Recorded sales tax obligations - principal | 1,353,000 | ||
Recorded sales tax obligations - interest and penalties | 832,000 | ||
Reserve for Self-Funded Health Insurance Program | 87,000 | $ 68,000 | |
Stop-Loss Umbrella Policy with 3rd Pary Insurer to Limit Maximum Potential Liability for individual Claims | $ 110,000 | ||
Litigation settelement description | In September 2020, the Company entered into a settlement agreement with an unrelated third party for a claim made during March 2018 which was scheduled for arbitration. The settlement was for $1.2 million of which $900,000 is to be paid by the Company’s insurance with the remaining $315,000 to be paid by the Company. The $315,000 is included in other current liabilities as of June 30, 2020. | ||
2000 Employee Stock Purchase Plan | |||
2000 Employee Stock Purchase Plan (ESPP) | The stockholders of the Company approved the 2000 Employee Stock Purchase Plan ("ESPP") at the Company's annual stockholders' meeting in April 2000. The ESPP provides for eligible employees to acquire common stock of the Company at a discount, not to exceed 15%. This plan has not been put into effect as of June 30, 2020. |