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Note 15 - Subsequent Events
6 Months Ended
Nov. 27, 2011
Subsequent Events [Text Block]
15.         Subsequent Events

The Company received the $4.0 million termination fee from Monsanto on November 30, 2011 (see Note 4).

 
Based on Lifecore revenues for the twelve months ended December 31, 2011, the Company has determined that the earn out (see Note 2) has been fully earned and therefore the Company is obligated to pay the former owner of Lifecore $10 million before June 1, 2012.