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NOTES PAYABLE (Tables) | 12 Months Ended
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Jun. 30, 2016
Debt Disclosure [Abstract] |
Notes Payable | The Company had the following notes payable obligations at June 30, 2016 and 2015:
Notes Payable: |  | 2016 |  |  | 2015 |
Note payable to a bank, due in monthly installments of $7,860 bearing interest at 3.73% due February 9, 2017, this note is a conversion of a multi-advance note payable initially put in place on February 19, 2012, secured by related capital equipment purchases. |  |  | 62,445 |  |  |  | 152,530 |
Note payable to a bank, due in monthly installments of $7,860 bearing interest at 4.17% due August 26, 2018, this note is a conversion of a multi-advance note payable initially put in place on August 26, 2013, secured by related capital equipment purchases. |  |  | 187,799 |  |  |  | 272,191 |
Note payable to a bank, due in monthly installments of $4,932 bearing interest at 4.91% due March 18, 2018, secured by related capital equipment purchases. |  |  | 98,980 |  |  |  | 151,772 |
Note payable to an entity, due in monthly installments of $4,009 bearing interest at 4.00% due July 1, 2019, secured by long-term investments. |  |  | 381,228 |  |  |  | - |
|  |  | 730,452 |  |  |  | 576,493 |
Less current portion notes payable |  |  | (239,199) |  |  |  | (227,301 | )
|  | $ | 491,253 |  |  | $ | 349,192 |
Maturities of notes payable and capital leases | Maturities of notes payable and capital leases at June 30, 2016 are as follows:
Year ending June 30: |  |  |
2017 |  | $ | 239,199 |
2018 |  | $ | 170,232 |
2019 |  | $ | 44,200 |
2020 |  | $ | 276,821 |
2021 |  | $ | - |

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- Definition Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. + References No definition available. + Details
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- Definition Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737 + Details
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