Note 4 - Promissory Note Receivable

3 Months Ended

Sep. 30, 2015

Receivables [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

4.     PROMISSORY NOTE RECEIVABLE:

During the months ended September 30, 2015, the Company received an interest bearing promissory note for $105,000. The promissory note bears interest at 4% per annum, is collateralized, and is payable on January 31, 2016. The promissory note receivable was issued as consideration for an unaffiliated investor’s subscription agreement to exercise warrants into 100,000 restricted common shares of the Company’s common stock at $1.05 per share. The Company recorded interest income of $828 for the three months ended September 30, 2015.