Note 19 - Subsequent Events	12 Months Ended
Jun. 30, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	19 . SUBSEQUENT EVENTS Pursuant to the terms of the Company's Amended and Restated Loan and Security Agreement of June 25, 2020, the “First Amendment” to this loan agreement was executed on September 17, 2020, which include, among other things, (i) pause testing of the Fixed Charge Coverage Ratio until September 30, 2021 and (ii) establishment of a new minimum cumulative EBITDA and minimum liquidity covenants in lieu thereof. TD Bank perfected its security interests in the Company's U.S. based assets, increased the maximum interest charged on the Line Of Credit from and annual interest rate of 2.25% plus Libor to 3.50% plus Libor, and amended the borrowing base for the line of credit from 80% of Qualified AR and 50% of the lower of Cost or Market of US inventory values to 80% of qualified AR plus 85% of the Net Orderly Liquidation Value (NOLV) of US Inventory plus 62.5% of total appraised US real estate values. As a result of this change, the Company is projected to maintain its current borrowing capacity of $25,000,000 under the Line of Credit. The Company underwent a series of appraisals and field exams in all US locations as part of restructuring this agreement. In addition, the Company will provide additional reporting to TD Bank, including monthly profit and loss statements, balance sheets, cash flow statements and forecasting. This minimum adjusted EBITDA covenant is based on the Company's plan for a slow pandemic recovery throughout FY21 and the impact of the Company's restructuring plan initiatives. The Company will apply certain proceeds from the sale of US real estate assets against the principle balance of the term loans under the TD Bank loan agreement. The Agreement will revert to the existing covenant package for the quarter ending September 30, 2021 and every quarter thereafter. The Company incurred, during quarter ending June 30, 2020, $1.6 million in restructuring related to headcount reductions and saw manufacturing consolidation comprised of $0.6 million in severance and $1.0 million in equipment write-offs, freight associated with manufacturing consolidation and other costs. The unpaid amount of the restructuring charge at June 30, 2020 is $1.1 million. The company also expects to incur $2.4 million in period restructuring in the first three quarters of fiscal year 2021. On September 2, 2020 the Board of Directors approved the issuance of an Additional Equity Award to the Company's Named Executive Officers “NEOs” and other executive as part of the 2012 Long-Term Incentive Plan “the Plan” . The award is in the amount of 101.1 thousand shares delivered as 67% fully vested Stock Units (defined in the Plan) and 33% as Restricted Stock Units (defined in the Plan). The Company's share price close on September 2, 2020 at $3.37 per share.

. SUBSEQUENT EVENTS

Pursuant to the terms of the Company's Amended and Restated Loan and Security Agreement of

June 25, 2020,

the “First Amendment” to this loan agreement was executed on

September 17, 2020,

which include, among other things, (i) pause testing of the Fixed Charge Coverage Ratio until

September 30, 2021

and (ii) establishment of a new minimum cumulative EBITDA and minimum liquidity covenants in lieu thereof. TD Bank perfected its security interests in the Company's U.S. based assets, increased the maximum interest charged on the Line Of Credit from and annual interest rate of

2.25%

plus Libor to

3.50%

plus Libor, and amended the borrowing base for the line of credit from

80%

of Qualified AR and

50%

of the lower of Cost or Market of US inventory values to

80%

of qualified AR plus

85%

of the Net Orderly Liquidation Value (NOLV) of US Inventory plus

62.5%

of total appraised US real estate values. As a result of this change, the Company is projected to maintain its current borrowing capacity of

$25,000,000

under the Line of Credit. The Company underwent a series of appraisals and field exams in all US locations as part of restructuring this agreement. In addition, the Company will provide additional reporting to TD Bank, including monthly profit and loss statements, balance sheets, cash flow statements and forecasting. This minimum adjusted EBITDA covenant is based on the Company's plan for a slow pandemic recovery throughout

FY21

and the impact of the Company's restructuring plan initiatives. The Company will apply certain proceeds from the sale of US real estate assets against the principle balance of the term loans under the TD Bank loan agreement. The Agreement will revert to the existing covenant package for the quarter ending

September 30, 2021

and every quarter thereafter.

The Company incurred, during quarter ending

June 30, 2020,

$1.6

million in restructuring related to headcount reductions and saw manufacturing consolidation comprised of

$0.6

million in severance and

$1.0

million in equipment write-offs, freight associated with manufacturing consolidation and other costs. The unpaid amount of the restructuring charge at

June 30, 2020

$1.1

million. The company also expects to incur

$2.4

million in period restructuring in the

first

three

quarters of fiscal year

2021.

September 2, 2020

the Board of Directors approved the issuance of an Additional Equity Award to the Company's Named Executive Officers “NEOs” and other executive as part of the

2012

Long-Term Incentive Plan “the Plan” . The award is in the amount of

101.1

thousand shares delivered as

67%

fully vested Stock Units (defined in the Plan) and

33%

as Restricted Stock Units (defined in the Plan). The Company's share price close on

September 2, 2020

$3.37

per share.