Note 15 - Subsequent Events |
12 Months Ended |
|---|---|
Jun. 30, 2017 | |
| Notes to Financial Statements | |
| Subsequent Events [Text Block] |
NOTE
1
5 - SUBSEQUENT EVENTS
During the period from July 1,
2017 through September 21, 2017 we borrowed an aggregate of $1,335,000 from Esenjay under our Unrestricted Line of Credit. As of September 21, 2017, the amount outstanding under the Unrestricted Line of Credit was $6,520,000, with an aggregate of $3,480,000 available under the Unrestricted Line of Credit for future draws at Esenjay’s discretion. As of September 21, 2017, Esenjay owns approximately 64% of our issued and outstanding common stock (See Note 6 ).On
September 19, 2017, our Board of Directors appointed Ronald Dutt, as the president, chief financial officer and corporate secretary of the Company. Mr. Dutt has been our chief executive officer, interim chief financial officer and director since March 19, 2014. Previously, he was our chief financial officer since December 7, 2012 and our interim chief executive officer since June 28, 2013. Mr. Dutt has served as the Company's interim corporate secretary since June 28, 2013.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|