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Employee Profit Sharing Plan
12 Months Ended
Jun. 30, 2012
Compensation and Retirement Disclosure [Abstract]  
Compensation and Employee Benefit Plans [Text Block]

12. Employee Profit Sharing Plan

 

The Company sponsors a retirement plan pursuant to Section 401(k) of the Code for all full time employees. Participants may contribute a percentage of compensation not to exceed the maximum allowed under the Code, which was $17,000 or $22,500 if the employee was over 50 years of age for the year ended June 30, 2012. The plan provides for a matching contribution by the Company of 10% of annual eligible compensation contributed by the participants based on years of service, which amounted to $41,964 and $42,186 for the years ended June 30, 2012 and 2011, respectively.