XML 42 R11.htm IDEA: XBRL DOCUMENT

Note 5 - Deferred Compensation:	6 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	5. DEFERRED COMPENSATION: The Company owes Edward Schafer (“Schafer”), the Company’s Executive Vice Chairman, two employees and two former employees, aggregate deferred compensation of $557,734 as of December 31, 2014 (subject to the outcome of pending litigation – see Note 9). The majority of the balance is payable dependent upon the cash reserves of the Company and $984 was paid by the issuance of 2,140 shares of the Company’s common shares in January 2015. As of December 31, 2014, the Company owed Bassani deferred compensation of $239,250 including interest of $74,250, which was due and payable on July 1, 2014 but has been extended untilApril 15, 2015. The deferred compensation accrues interest at 10% per annum and is convertible into the Company’s restricted common stock at $1.50 per share.

Note 5 - Deferred Compensation:

6 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

5. DEFERRED COMPENSATION:

The Company owes Edward Schafer (“Schafer”), the Company’s Executive Vice Chairman, two employees and two former employees, aggregate deferred compensation of $557,734 as of December 31, 2014 (subject to the outcome of pending litigation – see Note 9). The majority of the balance is payable dependent upon the cash reserves of the Company and $984 was paid by the issuance of 2,140 shares of the Company’s common shares in January 2015.

As of December 31, 2014, the Company owed Bassani deferred compensation of $239,250 including interest of $74,250, which was due and payable on July 1, 2014 but has been extended untilApril 15, 2015. The deferred compensation accrues interest at 10% per annum and is convertible into the Company’s restricted common stock at $1.50 per share.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details