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Note 5 - Deferred Compensation:
12 Months Ended
Jun. 30, 2013
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, and three other key employees, aggregate deferred compensation of $306,083 as of June 30, 2013. The balance is payable dependent upon the cash reserves of the Company.


As of June 30, 2013, the Company owed Bassani deferred compensation of $214,500 including interest of $49,500, which is due and payable on January 15, 2014. The deferred compensation accrues interest at 10% per annum and is convertible into the Company’s restricted common stock at $1.50 per share.


As of June 30, 2012, the Company owed Smith and Bassani deferred compensation of $260,532 and $374,920, respectively. During the year ended June 30, 2013, deferred compensation of $483,709 and $666,723 owed Smith and Bassani, respectively, was converted into promissory notes (Note 7).