LEASES LEASES (Tables)

6 Months Ended

Dec. 31, 2018

Supplemental information related to lease expense and valuation of the ROU asset and liability was as follows:



	Three and Six Months Ended
	December 31
	2018			2017
Operating lease cost	$	190,000		$	190,000
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	190,000		$	190,000
Weighted-average remaining lease term (in years)	9.5			10.5
Weighted-average discount rate	4.25		%	4.25		%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The maturity schedule of future minimum lease payments and reconciliation to the operating lease liabilities reported on the consolidated balance sheets is as follows:



Year ending June 30,
Operating lease payments, 2019 (excluding the six months ended December 31, 2018)	$	190,000
Operating lease payments, 2020	380,000
Operating lease payments, 2021	380,000
Operating lease payments, 2022	380,000
Operating lease payments, 2023	380,000
Operating lease payments, Thereafter	1,900,000
Total operating lease payments	3,610,000
Present value adjustment	(633,596		)
Total operating lease liabilities	$	2,976,404