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NOTE 10 - LONG-TERM DEBT, NOTES PAYABLE AND CAPITAL LEASES (Tables) | 12 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
Long-Term Debt, Notes Payable And Capital Leases | Long-term debt, notes payable and capital leases consist of the following:
|  | 2019 |  | 2018
Note payable requiring monthly payments of interest at a rate of 7% until May 2009 followed by 240 monthly payments of $4,472 through October 2026. The loan is collateralized by a building with a net book value of $481,666 as of June 30, 2019. |  | $ | 306,056 |  |  | $ | 336,781 |
The revolving credit note was extended to August 2020. The Company can prepay the loan in whole or part in multiples of $100,000 at any time without penalty. The note bears interest at a rate of 5.25% per annum and is payable monthly. The loan is collateralized by substantially all of the Company’s assets. The loan also contains certain financial covenants that must be met on a periodic basis. The note was paid in full September 2, 2014. The Company still has the ability to draw down on the line. |  |  | — |  |  |  | — |
Other (including capital leases for property and equipment). |  |  | 7,586 |  |  |  | 7,586 |
|  |  | 313,642 |  |  |  | 344,367 |
Less: Current portion |  |  | 40,530 |  |  |  | 38,332 |
|  | $ | 273,112 |  |  | $ | 306,035 |
Maturities Of Long-Term Debt | The maturities of long-term debt over the next five years and thereafter are as follows:
Years Ending June 30, |  |
| 2020 |  |  | $ | 40,530 |
| 2021 |  |  |  | 35,416 |
| 2022 |  |  |  | 38,013 |
| 2023 |  |  |  | 40,820 |
| 2024 |  |  |  | 43,767 |
| Thereafter |  |  |  | 115,096 |
|  |  |  | $ | 313,642 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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