Annual report pursuant to Section 13 and 15(d)

Capital Lease Obligation (Tables)

v3.5.0.2
Capital Lease Obligation (Tables)
12 Months Ended
Jun. 30, 2016
Table Text Block Supplement [Abstract]  
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]
Future minimum payments under the capitalized lease obligations are due as follows:
 
Year Ending:
 
Principal
 
Interest
 
Total
 
2017
 
$
169,818
 
$
1,930,182
 
$
2,100,000
 
2018
 
 
183,110
 
 
1,916,890
 
 
2,100,000
 
2019
 
 
197,443
 
 
1,902,557
 
 
2,100,000
 
2020
 
 
212,898
 
 
1,887,102
 
 
2,100,000
 
2021
 
 
229,562
 
 
1,870,438
 
 
2,100,000
 
Thereafter
 
 
24,441,676
 
 
35,933,324
 
 
60,375,000
 
 
 
 
 
 
 
 
 
 
 
 
Total minimum lease payments
 
 
25,434,507
 
$
45,440,493
 
$
70,875,000
 
Less: current portion
 
 
(169,818)
 
 
 
 
 
 
 
Long-term portion of minimum lease obligations
 
$
25,264,689