|9 Months Ended|
Mar. 31, 2021
|Subsequent Events [Abstract]|
Note (14) – Subsequent Events:
In April 2021, the Company and its applicable subsidiaries applied to the SBA for forgiveness of all of the PPP Loans previously obtained by them, as previously described, including in Note 7, “Debt.” While the Company believes that the use of the loan proceeds will meet the conditions for forgiveness of the loan, forgiveness of each PPP Loan will be in the discretion of the Lender and the SBA. The Company cannot assure that the PPP Loans will be forgiven, in whole or in part. To the extent any PPP Loan is not forgiven in full, the portion of the PPP Loan which is not forgiven will be required to be fully repaid on or before maturity in May 2022.
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/disclosureRef