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Asset Retirement Obligation
12 Months Ended
Jun. 30, 2013
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligation
  9. Asset Retirement Obligation

 

In September 2007, an asset retirement obligation of $473,096 was established representing the discounted cost of the Company's estimate of the obligations to remove any residual radioactive materials and all leasehold improvements at the end of the lease term at its new production facility. The estimate was developed by qualified production personnel and the general contractor of the facility using Level 3 fair value inputs.

 

During the years ended June 30, 2013 and 2012, the asset retirement obligations changed as follows:

 

    2013     2012  
Beginning balance   $ 724,298     $ 662,181  
Accretion of discount     67,944       62,117  
Ending balance   $ 792,242     $ 724,298  

 

Because the Company does not expect to incur any expenses related to its asset retirement obligations in fiscal year 2014, the entire balance as of June 30, 2013 is classified as a noncurrent liability.