Subsequent Events

6 Months Ended

Dec. 31, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

14. Subsequent Events

On February 1, 2015, the Company entered into an agreement with Aesculap, Inc. (“Aesculap”) to buy back certain accounts that were protected under the termination agreement entered into by Misonix and Aesculap on December 31, 2012 (the “Termination Agreement”). The Termination Agreement allowed Aesculap to continue to sell and service key accounts which were defined as accounts maintaining a revenue level on average over a three year term which was due to expire December 31, 2015. The buy back amount total is $328,136 and one half is due February 1, 2015 and the balance on March 1, 2015. The total buy back amount includes $28,867 worth of units that will be for customer use and is expected to be fully utilized.

At the Annual Meeting of Shareholders held on February 3, 2015, the Company’s shareholders approved the 2014 Employee Equity Incentive Plan (the “2014 Plan”). An aggregate of 750,000 shares of common stock may be issued pursuant to the 2014 Plan.