Note 13 - Deferred Revenue |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Deferred Revenue Disclosure [Text Block] |
NOTE
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DEFERRED REVENUE On June 21, 2013, the Company signed a ten -year license agreement with Hanwha Advanced Materials Co., Ltd, of South Korea. The agreement grants Hanwha exclusive rights to sell, distribute and manufacture Integral's patented line of conductive plastics, ElectriPlast, in South Korea, as well as non-exclusive sales and distribution rights to ElectriPlast for Japan, Taiwan and the China markets.The agreement called for license fees as follows:
The payments have been recorded as deferred revenue, which will be recognized as license fee revenue in the consolidated statements of operations over the life of the ten -year contract. During year ended June 30, 2017,
$50,000 (2016 - $50,000 ) has been recognized as revenue.As of June 30, 2017, and June 30, 2016, the remaining deferred revenue was as follows:
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