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Subsequent Events Subsequent Events | 6 Months Ended
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Dec. 31, 2013
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | SUBSEQUENT EVENTS On January 13, 2014, the Company acquired Tilda Limited (“Tilda”), a leading premium 100% branded Basmati and specialty rice products company. Tilda offers a range of over 60 dry rice and ready-to-heat branded products under the brand names Tilda®, Akash® and Abu Shmagh® to consumers in over 40 countries, principally in the United Kingdom, the Middle East and North Africa, Continental Europe, North America and India. Tilda generated approximately $190,000 in net sales in calendar year 2013. Consideration in the transaction consisted of cash totaling £107,000 (approximately $176,325 at the transaction date exchange rate), which is subject to certain adjustments, 1,646,173 shares of the Company’s common stock valued at $150,641 and a Vendor Loan Note for £20,000 issued by the Company which is payable within one year following completion of the acquisition either in cash or Company shares at the Company’s option. The cash consideration paid was funded with borrowings drawn under the Company’s existing revolving credit facility. On February 6, 2014, the Company completed the sale of the Grains Noirs business in Europe. The disposal does not significantly impact the Company’s consolidated financial statements.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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