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Note N - Subsequent Events
12 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Subsequent Events [Text Block]
N
. Subsequent Events
 
On
August 7, 2017,
we entered into
three
agreements (“Agreements”), with The Juice Plus+ Company LLC (“Juice Plus+”). The Agreements are an Exclusive Manufacturing Agreement, a Restricted Stock Award Agreement, and an Irrevocable Proxy. Pursuant to the Exclusive Manufacturing Agreement Juice Plus+ has granted us exclusive rights to manufacture and supply Juice Plus+ with certain Juice Plus+ products within
24
countries that Juice Plus+ currently sells those products. Pursuant to the Restricted Stock Award Agreement, NAI has agreed to grant
500,000
shares of NAI common stock to Juice Plus+, (the “Shares”), and Juice Plus+ has agreed the Shares are subject to certain restrictions and risk of forfeiture. Pursuant to the Irrevocable Proxy, Juice Plus+ has granted to the NAI Board of Directors Juice Plus+
’s right to vote the Shares as long as they are subject to the associated risk of forfeiture. The Agreements are for a term of
5
years, and
may
be terminated by either party only on the occurrence of specified events.
 
On
July 3, 2017,
we purchased
24
forward contracts designated and effective as cash flow hedges to protect against the foreign currency exchange risk inherent in a portion of our forecasted sales transactions denominated in Euros. The
24
contracts expire monthly beginning
September 2017
and ending
August 2019.
The forward contracts had a notional amount of
26.2
million Euros and a weighted average forward rate of
$1.16.
 
On
August 4, 2017
, we purchased
11
forward contracts designated and effective as cash flow hedges to protect against the foreign currency exchange risk inherent in a portion of our forecasted sales transactions denominated in Euros. The
11
contracts expire monthly beginning
October 2017
and ending
August 2018.
The forward contracts had a notional amount of
12.5
million Euros and a weighted average forward rate of
$1.18.