Note 3 - Property and Equipment

3 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

3.     PROPERTY AND EQUIPMENT:

Property and equipment consists of the following:

	September 30, 2014			June 30, 2014
Machinery and equipment	$	4,111,001		$	4,111,001
Buildings and structures		1,947,701			1,947,701
Computers and office equipment		183,809			183,809
		6,242,511			6,242,511
Less accumulated depreciation		(2,076,242	)		(1,891,358	)
	$	4,166,269		$	4,351,153

Management reviewed property and equipment for impairment as of June 30, 2014 and determined that the carrying amount of property and equipment related to the Kreider 1 project exceeded its estimated future undiscounted cash flows. Management estimated the fair value of the property and equipment based on the discounted cash flow method, and determined that $2,000,000 of the property and equipment was impaired as of June 30, 2014. As of September 30, 2014, management believes no additional impairment has occurred.

Depreciation expense was $184,884 and $245,996 for the three months ended September 30, 2014 and 2013, respectively.