Note E - Debt	6 Months Ended
Dec. 31, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	E. Debt On February 1, 2016, we executed a new Credit Agreement with Wells Fargo Bank, N.A. The Credit Agreement replaced the previous credit facilit y and increased our credit line from $5.0 million to $10.0 million. The line of credit may be used to finance working capital requirements. There was no commitment fee required as part of this agreement. There are no amounts currently drawn under the line of credit. Under the terms of the Credit Agreement, borrowings are subject to eligibility requirements including maintaining (i) a ratio of total liabilities to tangible net worth of not greater than 1.25 to 1.0 at any time; and (ii) a ratio of total current assets to total current liabilities of not less than 1.75 to 1.0 at each fiscal quarter end. Any amounts outstanding under the line of credit will bear interest at a fixed or fluctuating interest rate as elected by NAI from time to time; provided, however, that if the outstanding principal amount is less than $100,000 such amount shall bear interest at the then applicable fluctuating rate of interest. If elected, the fluctuating rate per annum would be equal to 1.25% above the daily one month LIBOR rate as in effect from time to time. If a fixed rate is elected, it would equal a per annum rate of 1.25% above the LIBOR rate in effect on the first day of the applicable fixed rate term. Any amounts outstanding under the line of credit must be paid in full on or before January 31, 2019. Amounts outstanding that are subject to a fluctuating interest rate may be prepaid at any time without penalty. Amounts outstanding that are subject to a fixed interest rate may be prepaid at any time in minimum amounts of $100,000, subject to a prepayment fee equal to the sum of the discounted monthly differences for each month from the month of prepayment through the month in which the then applicable fixed rate term matures. Our obligations under the Credit Agreement are secured by our accounts receivable and other rights to payment, general intangibles, inventory, equipment and fixtures. We also have a foreign exchange facility with Wells Fargo Bank, N.A. in effect until January 31, 2019, and with Bank of America, N.A. in effect until August 15, 2017. On December 31, 2016, we were in compliance with all of the financial and other covenants required under the Credit Agreement. Our wholly owned subsidiary, NAIE, formerly had a credit facility with Credit Suisse that would provide NAIE w ith a credit line of up to CHF 500,000, or approximately $488,000. We terminated this line of credit in December 2016 as we determined that it was unnecessary as we believe our current cash position and on going cash from operations are sufficient to support our cash requirements. We did not use our working capital line of credit nor did we have any long-term debt outstanding during the six months ended December 31, 2016. As of December 31, 2016, we had $10.0 million available under our credit facilities.

E. Debt

February

2016,

we executed a new Credit Agreement with Wells Fargo Bank, N.A. The Credit Agreement replaced the previous credit facilit

y and increased our credit line from

$5.0

million to

$10.0

million. The line of credit

may

be used to finance working capital requirements. There was

commitment fee required as part of this agreement. There are

amounts currently drawn under the line of credit.

Under the terms of the Credit Agreement, borrowings are subject to eligibility requirements including maintaining (i) a ratio of total liabilities to tangible net worth of not greater than

1.25

1.0

at any time; and (ii) a ratio of total current assets

to total current liabilities of not less than

1.75

1.0

at each fiscal quarter end. Any amounts outstanding under the line of credit will bear interest at a fixed or fluctuating interest rate as elected by NAI from time to time; provided, however, that if the outstanding principal amount is less than

$100,000

such amount shall bear interest at the then applicable fluctuating rate of interest. If elected, the fluctuating rate per annum would be equal to

1.25%

above the daily

one

month LIBOR rate as in effect from time to time. If a fixed rate is elected, it would equal a per annum rate of

1.25%

above the LIBOR rate in effect on the

first

day of the applicable fixed rate term. Any amounts outstanding under the line of credit must be paid in full on or before

January

31,

2019.

Amounts outstanding that are subject to a fluctuating interest rate

may

be prepaid at any time without penalty. Amounts outstanding that are subject to a fixed interest rate

may

be prepaid at any time in minimum amounts of

$100,000,

subject to a prepayment fee equal to the sum of the discounted monthly differences for each month from the month of prepayment through the month in which the then applicable fixed rate term matures.

Our obligations under the Credit Agreement are secured by our

accounts receivable and other rights to payment, general intangibles, inventory, equipment and fixtures. We also have a foreign exchange facility with Wells Fargo Bank, N.A. in effect until

January

31,

2019,

and with Bank of America, N.A. in effect until

August

15,

2017.

December

31,

2016,

we were in compliance with all of the financial and other covenants required under the Credit Agreement.

Our wholly owned subsidiary, NAIE, formerly had a credit facility with Credit Suisse that would provide NAIE w

ith a credit line of up to CHF

500,000,

or approximately

$488,000.

We terminated this line of credit in

December

2016

as we determined that it was unnecessary as we believe our current cash position and on going cash from operations are sufficient to support our cash requirements.

We did

not

use our working capital line of credit

nor

did we have any long-term debt outstanding during the

six

months ended

December

31,

2016.

As of

December

31,

2016,

we had

$10.0

million available under our credit facilities.