3. NOTE RECEIVABLE – RELATED PARTY (Details) - USD ($) |
12 Months Ended | |
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Jun. 30, 2016 |
Jun. 30, 2015 |
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| Note Receivable Related Party Details | ||
| Note receivable - beginning of year | $ 322,800 | $ 409,000 |
| Advances | 0 | 0 |
| Payments | (27,400) | (115,200) |
| Accounting and loan fees added to note | 0 | 29,000 |
| Accounting and loan fees reversed against deferred income | (29,000) | 0 |
| Less reserve | (266,400) | 0 |
| Total Notes receivable | 0 | 322,800 |
| Less long-term | 0 | (262,800) |
| Notes receivable - current | $ 0 | $ 60,000 |
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- References No definition available.
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- References No definition available.
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- Definition Reflects the net positive or negative amount derived from subtracting from net proceeds of sale the carrying amounts, net of allocated reserves, of notes receivable transferred to a third party in a transaction that qualifies for sales treatment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Expenses paid for obtaining loans which includes expenses such as application and origination fees. No definition available.
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- Definition Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. Excludes amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Net amount of the investment in a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in the creditor's statement of financial position. Examples include, but are not limited to, credit card receivables, notes receivable and receivables relating to lessor's rights to payments from leases other than operating leases that have been recorded as assets. Excludes trade accounts receivable with contractual maturity of one year or less and arose from the sale of goods or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amounts due from parties associated with the reporting entity as evidenced by a written promise to pay, due within 1 year (or 1 business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow to acquire an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among myriad other features and characteristics. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow associated with the sale of a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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