Note 3 - Property and Equipment

12 Months Ended

Jun. 30, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

3.     PROPERTY AND EQUIPMENT:

Property and equipment consists of the following:

	June 30, 2015			June 30, 2014
Machinery and equipment	$	2,923,577		$	4,111,001
Buildings and structures		1,385,125			1,947,701
Computers and office equipment		175,248			183,809
		4,483,950			6,242,511
Less accumulated depreciation		(2,506,731	)		(1,891,358	)
	$	1,977,219		$	4,351,153

Management reviewed property and equipment for impairment as of June 30, 2015 and determined that the carrying amount of property and equipment related to the Kreider 1 project exceeded its estimated future undiscounted cash flows based on certain assumptions regarding timing, level and probability of revenues from sales of nutrient reduction credits. Kreider 1 was measured at estimated fair value on a non-recurring basis using level 3 inputs, which resulted in an impairment of $1,750,000 of the property and equipment for the year ended June 30, 2015.

The Company also recorded an impairment of $2,000,000 for the year ended June 30, 2014.

Depreciation expense was $623,934 and $978,798 for the years ended June 30, 2015 and 2014, respectively.