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Notes Payable
12 Months Ended
Jun. 30, 2016
Notes Payable [Abstract]  
NOTES PAYABLE

NOTE 6 - NOTES PAYABLE

 

In June 2016, the Company entered into a note for approximately $273,700 in conjunction with a renewal of its director and officer insurance policy. The interest rate was 2.1% per annum.

 

In June 2015, the Company entered into a note for approximately $263,800 in conjunction with a renewal of its director and officer insurance policy. The interest rate was 2.8% per annum.

 

At June 30, 2016 and 2015, the note payable outstanding balances were approximately $273,700 and $263,800, respectively.