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Subsequent Events | 12 Months Ended
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Jun. 30, 2014
Subsequent Events [Abstract] |
Subsequent Events |
13. |  | Subsequent Events
On July 2, 2014, we made an initial deposit in the amount of $10,000 to open an escrow account to facilitate the purchase of substantially all of the assets of a Northern California-based sole proprietorship that is engaged in the manufacture of machined parts, primarily for customers in the oil and electronics industries. The initial deposit was made pursuant to an Asset Purchase Agreement between the parties dated June 23, 2014 (the "Agreement"), which Agreement became effective upon the Company making the initial deposit. On September 8, 2014, we made a second $10,000 deposit in conformity with amended terms of the Agreement which acknowledged that certain due diligence procedures had yet to be completed. The deposits, less escrow costs, are refundable to the Company if the transaction is not consummated due to a failure of certain closing conditions, including certain due diligence procedures, to be satisfied.

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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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