NOTE 6 - NOTE RECEIVABLE (Details) - USD ($) |
1 Months Ended | 12 Months Ended | ||
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Jun. 30, 2015 |
Apr. 17, 2015 |
May. 31, 2014 |
May. 31, 2015 |
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NOTE 6 - NOTE RECEIVABLE (Details) [Line Items] | ||||
Asset Impairment Charges | $ 0 | $ 500,000 | ||
Affiliated Entity [Member] | Notes Receivable [Member] | ||||
NOTE 6 - NOTE RECEIVABLE (Details) [Line Items] | ||||
Financing Receivable, Gross | $ 500,000 | |||
Note Receivable, Interest Rate, Stated Percentage | 12.00% | |||
Asset Impairment Charges | $ 500,000 | |||
Financing Receivable, Net | 0 | |||
Allowance for Doubtful Accounts Receivable | $ 500,000 | |||
Affiliated Entity [Member] | Subsequent Event [Member] | Notes Receivable [Member] | ||||
NOTE 6 - NOTE RECEIVABLE (Details) [Line Items] | ||||
Loans and Leases Receivable, Description | Pursuant to the Note, as amended by the parties effective June 30, 2015, PRH will repay the principal due under the Note in twenty (20) equal quarterly installments of Twenty Five Thousand Dollars ($25,000) commencing three (3) months after a certificate of occupancy is issued with respect to the grow facility (the “CO Date”) and continuing until paid in full. Interest will accrue on the unpaid principal balance of the Note at the rate of twelve percent (12%) per annum and will be paid quarterly in arrears commencing on the CO Date and continuing until paid in full. All outstanding principal and any accumulated unpaid interest due under the Note is due and payable on the five-year anniversary of the CO Date. |
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- References No definition available.
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- Definition Contractual interest rate for funds loaned, under the loan agreement. No definition available.
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- Definition For an unclassified balance sheet, a valuation allowance for receivables due a company that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Describes the major category and subcategories of loans held, any unusual risk concentration relating thereto, and the related loans receivable carrying amounts as of the balance sheet date. Such descriptions may include information pertaining to: (i) type of borrower, (ii) purpose of the loan, (iii) loan maturity, (iv) credit and other risk associated with the loan, and (v) other terms of importance (secured or unsecured, variable or fixed interest). 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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