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Other Current Liabilities | 9 Months Ended
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Mar. 31, 2014
Other Current Liabilities |
Other Current Liabilities | Note 4—Other Current Liabilities As of March 31, 2014 and June 30, 2013 our other current liabilities consisted of the following:
|  | March 31, 2014 |  | June 30, 2013 |
Accrued retirement obligation |  | $ | 363,876 |  | $ | — |
Asset retirement obligations due within one year |  | 173,084 |  | — |
Accrued Louisiana franchise taxes liabilities |  | 81,505 |  | 94,116 |
Accrued - other |  | 55,930 |  | 59,066 |
Other current liabilities |  | $ | 674,395 |  | $ | 153,182 |
The accrued retirement obligation of $363,876 at March 31, 2014 reflects remaining payments to be made to Sterling McDonald, the Company’s former Vice President and Chief Financial Officer, under his February 14, 2014 retirement arrangement. In February the Company recorded a $608,000 charge including $204,000 of stock compensation from the accelerated vesting of his equity awards on February 15, 2014, together with $356,000 of salary and cash incentive plan, and $48,000 of benefit payments to be paid off during the twelve months ended February 14, 2015.

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