Annual report pursuant to Section 13 and 15(d)

Commitments (Tables)

v3.10.0.1
Commitments (Tables)
12 Months Ended
Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]  
Schedule of minimum future lease payments

The following table outlines the minimum future lease payments for the next five years and thereafter: 

 

June 30,      
2019   $ 120,859  
2020     124,478  
2021     128,206  
2022     132,046  
2023     55,825  
Thereafter      
Total   $ 561,414  

Schedule of future maximum penalty under the equivalent

The penalty imposed shall be equivalent to the amount that the sales price of the property exceeds $1,750,000 up to the maximum penalty (“Maximum Penalty”) defined below:

 

      Maximum
Penalty
 
Year 1, ended June 26, 2018     $ 5,960,000  
Year 2, ending June 26, 2019     $ 3,973,333  
Year 3, ending June 26, 2020     $ 1,986,667