Note 3 - Property And Equipment:

6 Months Ended

Dec. 31, 2012

Property, Plant and Equipment Disclosure [Text Block]

3. PROPERTY AND EQUIPMENT:

Property and equipment consists of the following:

	December 31, 2012			June 30, 2012
Machinery and equipment	$	5,432,947		$	-
Buildings and structures		2,574,010			-
Kreider 1		-			8,155,922
Leasehold improvements		31,336			31,336
Furniture		28,932			28,932
Computers and office equipment		246,900			34,240
		8,314,125			8,250,430
Less accumulated depreciation		(490,265	)		(77,728	)
	$	7,823,860		$	8,172,702

During the six months ended December 31, 2012, Kreider 1 was placed into service and the capitalized costs of $8,219,617 were allocated among its separately identifiable components. Depreciation expense was $246,746 and $4,065 for the three months ended December 31, 2012 and 2011, respectively, and $412,537 and $8,149 for the six months ended December 31, 2012 and 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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