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Lease Commitments (Tables)

12 Months Ended

Jun. 30, 2012

Notes to Financial Statements

Schedule of Future Minimum Lease Payments

The approximate future minimum lease payments under capital and operating leases at June 30, 2012 were as follows:

Fiscal year ending June 30,			Capital Lease				Operating Lease
2013			4,300				426,224
2014			4,300				456,556
2015			3,942				339,631
Total Minimum Payments			12,542				1,222,411
Less Imputed Interest			(2,037)
Present value of minimum lease payments included in long term debt			10,505
Less current portion			3,602
Long term portion		$	6,903

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- Definition

Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 20

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717

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