Emerge Health International (MTWD) 10-K 12 Mar 19 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2017	Mar. 01, 2019
Document And Entity Information
Entity Registrant Name	METWOOD INC
Entity Central Index Key	0000032567
Trading Symbol	mtwd
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	No
Entity Common Stock, Shares Outstanding		17,766,647
Entity Public Float		$ 329,101
Document Type	10-K
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Small Business	true
Is Company Shell Company	false
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Current Assets
Cash and cash equivalents	$ 67,854	$ 91,309
Accounts receivable, net of reserve	184,290	201,502
Inventory	518,001	479,203
Other current assets	14,755	12,454
Total current assets	784,900	784,468
Property and Equipment improvements
Leasehold Improvements	274,869	274,869
Furniture, fixtures and equipment	78,222	78,222
Computer and software	186,517	174,541
Machinery & Equipment	741,884	720,585
Vehicles	393,887	412,917
Land Improvements	67,959	67,958
Total Property and Equipment	1,743,338	1,729,092
Less accumulated depreciation	(1,273,705)	(1,199,154)
Net Property and equipment	469,633	529,938
Total assets	1,254,533	1,314,406
Current liabilities
Accounts payable and accrued expenses	178,928	181,107
Accrued payroll expense	22,625	18,881
Note payable due on demand	77,460	80,992
Total current liabilities	279,013	280,980
Long term liabilities
Convertible note payable-related party net of discount is $35,294 at June 30, 2017	14,706	0
Total long term libilities	14,706	0
Total liabilities	293,719	280,980
Commitments and contingencies Note 4
Stockholder's equity
Preferred stock (par $.001) 40,000,000 shares authorized 0 outstanding
Common stock (par $.001) 100,000,000 authorized outstanding 17,766,647	17,767	17,767
Paid in capital	3,550,236	3,500,236
Accumulated deficit	(1,671,189)	(1,236,577)
Contra equity-prepaid rent	(936,000)	(1,248,000)
Total shareholders' equity	960,814	1,033,426
Total liaibliities and stockholders' equity	$ 1,254,533	$ 1,314,406

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Stockholder's equity
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	17,766,647	17,766,647
Common stock, shares outstanding	17,766,647	17,766,647
Long term liabilities
Convertible note payable-related party, discountable amount	$ 35,294	$ 0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Consolidated Statements Of Operations
Gross sales	$ 1,864,222	$ 1,781,062
Cost of sales	1,169,569	1,113,748
Gross profit	694,653	667,314
Operating expenses
Advertising	27,330	26,513
Bad debt recovery	(47)	1,202
Depreciation	27,676	35,260
Insurance	40,419	44,519
Payroll expense	445,573	422,261
Professional fees	39,089	43,588
Rent related party	379,640	380,491
Repairs and Maintenance	6,670	52,495
Research and Development	52,130	5,700
Telephone	25,621	29,105
Vehicle	24,407	19,558
Other	69,454	52,832
Total operating expenses	1,137,962	1,113,524
Operating income (loss)	(443,309)	(446,210)
Other Income (expense)
Interest	(23,184)	(4,370)
Gain on sale of asset	25,988	28,682
Other Income (expense)	5,893	7,235
Total Other Income (expense)	8,697	31,547
Net income (loss) before taxes	(434,612)	(414,663)
Income taxes	0	(245,233)
Net (loss)	$ (434,612)	$ (659,896)
Basic loss per share	$ (0.02)	$ (0.04)
Weighted number of shares outstanding	17,766,647	17,766,647

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($) shares in Thousands	Common Shares	Common Shares not yet issued	Additional Paid-in Capital	Prepaid Rent	Retained Earnings	Total
Beginning Balance, Shares at Jun. 30, 2015	15,223	53
Beginning Balance, Amount at Jun. 30, 2015	$ 15,223	$ 53	$ 1,917,727		$ (576,681)	$ 1,356,322
Common Stock subscribed, Shares	144	(53)
Common Stock subscribed, Amount	$ 144	$ (53)	24,909			25,000
Common stock issued for rent, Shares	2,400
Common stock issued for rent, Amount	$ 2,400	$ 0	1,557,600	(1,560,000)		0
Amortization of prepaid rent				312,000
Convertible note						0
Net loss					(659,896)	(659,896)
Ending Balance, Shares at Jun. 30, 2016	17,767	0
Ending Balance, Amount at Jun. 30, 2016	$ 17,767	$ 0	3,500,236	(1,248,000)	(1,236,577)	1,033,426
Amortization of prepaid rent				312,000		312,000
Convertible note			50,000			50,000
Net loss					(434,612)	(434,612)
Ending Balance, Shares at Jun. 30, 2017	17,767	0
Ending Balance, Amount at Jun. 30, 2017	$ 17,767	$ 0	$ 3,500,236	$ (936,000)	$ (1,671,189)	$ 960,814

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Consolidated Statements Of Cash Flow
Net loss	$ (434,612)	$ (659,896)
Adjustments to reconcile net loss to net cash provided by (used in)
Depreciation	81,587	81,338
Gain on sale of assets	(25,988)	(28,682)
Allowance for inventory obsolescence	25,738	33,702
Amortization of prepaid rent	312,000	312,000
Amortization of convertible note discount	14,706
(Increase) decrease in operating assets
Accounts receivable	2,680	(90,704)
Inventory	(64,536)	(27,823)
Other current assets	(2,301)	23,889
Deferred tax asset	0	245,233
Increase (Decrease) in liabilities
Accounts payable and accrued expenses	8,821	59,106
Accrued payroll	3,744	12,501
Net cash provided (used) by investment activities	(78,161)	(39,336)
Investment activities
Property and equipment purchases	(22,736)	(10,351)
Proceeds from disposal of property and equipment	27,442	28,682
Net cash provided by investment activities	4,706	18,331
Financing activities
Convertible note-related party	50,000	0
Proceeds from sale of common stock	0	25,000
Total cash provided financing activities	50,000	25,000
Increase (decrease) in cash	(23,455)	3,994
Beginning cash	91,309	87,315
Ending Cash	67,854	91,309
Supplemental Disclosure of Cash Flow Information
Interest paid	0	0
Income taxes paid	0	0
Supplemental Disclosure of Non-cash flow information
Common stock issued for prepaid rent		1,560,000
Capitalized inventory		243,419
Notes payable related party advances through Accounts payable	14,532	32,000
Notes payable related party payments through Accounts receivable	(11,000)	(16,792)
Debt discount on convertible note	$ 50,000	$ 0

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
NOTE 1 - ORGANIZATION AND OPERATIONS	Metwood, Inc. ("The Company", “we”, “us”) was organized under the laws of the Commonwealth of Virginia on April 7, 1993. On June 30, 2000, Metwood entered into an Agreement and Plan of Reorganization in which the majority of its outstanding common stock was acquired by a publicly held Nevada shell corporation. The acquisition was a tax-free exchange for federal and state income tax purposes and was accounted for as a reverse merger. Upon acquisition, the name of the shell corporation was changed to Metwood, Inc. and Metwood, Inc., the Virginia corporation, became a wholly owned subsidiary of Metwood, Inc., the Nevada corporation. The publicly traded shell corporation had not had a material operating history for several years prior to the merger. The Company provides construction-related products and engineering services to residential customers and contractors, commercial contractors, developers and retail enterprises, primarily in southwestern Virginia

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES	Going Concern The consolidated financial statements have been presented on the basis that we are a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. We have sustained significant operating losses which raises substantial doubt about the Company’s ability to continue as a going concern. During the year ended June 30, 2017, The Company incurred a loss from operations of $434,612 and has an accumulated deficit of $1,671,189. Management will continue its ongoing efforts to increase the customer base and seek lower cost suppliers to generate future profits. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern and do not include adjustments that might result from the outcome of this uncertainty. The basis of accounting contemplates the recovery of the Company’s assets and the satisfaction of liabilities in the normal course of business. Basis of Presentation Management's Use of Estimates Fair Value of Financial Instruments Cash and Cash Equivalents Accounts Receivable Inventory 2017 2016 Raw materials $ 433,637 $ 390,473 Work in process 84,364 88,730 Total inventory $ 518,001 $ 479,203 The Company recorded an inventory reserve of $25,788 and $33,702 during the years ended June 30, 2017 and 2016, respectively. Property and Equipment Useful Life 2017 2016 Leasehold improvements 39 $ 274,869 $ 274,869 Furniture, fixtures and equipment 5 78,222 78,222 Computers and software 3 186,517 174,541 Machinery and equipment 10 741,884 720,585 Vehicles 5 393,887 412,917 Land improvements 39 67,959 67,958 Total property and equipment 1,743,338 1,729,092 Less accumulated depreciation (1,273,705 ) (1,199,154 ) Total property and equipment $ 469,633 $ 529,938 Impairment of Long-lived Assets Patents Revenue Recognition Income Taxes Income Taxes. A Research and Development Advertising Earnings Per Common Share During the future fiscal years the Company may be required to issued up to fifty million shares of common stock to satisfy a convertible note entered into in August 2016. This note expires on June 30, 2019 and 10,000,000 shares of common stock can be issued in any year. When the contract noted in the subsequent events Note 9 is consummated the Company will be required to issue an additional 30,000,000 shares of common stock. Recent Accounting Pronouncements In February, 2016 the FASB issued ASU 20 16-0 2, “Leases (Topic 842)” requiring lessees to recognize lease assets and lease liabilities for most leases classified as operating leases under previous U.S. GAAP. The guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company will be required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The adoption of this standard is not expected have a material impact on the Company’s consolidated financial statements. Accounting Standard Update No. 2014-09, (“ASU 2014-09’) Revenue from Customers (Topic 606), became effective for us in the period ending June 30, 2019. No significant adjustment was required as a result of adopting the new revenue standard. The comparative information has not been restated and continues to be reported under the historic accounting standards in effect for those periods. The impact of the adoption of the new revenue standard is expected to be immaterial to the Company’s net income on an ongoing basis.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
NOTE 3 - RELATED-PARTY TRANSACTIONS	The Company has executed a demand note with its controlling shareholder, Cahas Mountain, LLC, that Cahas Mountain will make available cash advances from time to time to bridge cash flow shortfalls. These advances are repaid to Cahas Mountain as cash flow allows. The unpaid balance due to Cahas Mountain at the end of each month is subject to an interest rate of 6% per year. At June 30, 2017 and 2016, advances payable to Cahas Mountain Properties of approximately $77,000 and 81,000, respectively. Accrued interest payable to Cahas Mountain Properties total approximately $28,000 and $19,000 for the years ended June 30, 2017 and 2016, respectively. The Company recognized interest expense of approximately $23,000 and $4,000 for the years ended June 30, 2017 and 2016, respectively. Sales to Cahas Mountain, LLC was approximately $12,000 and $19,000. As of June 30, 2017 and 2016, the related accounts receivable totaled approximately $0 and $2,000, respectively. On August 18, 2016 the Company entered into a convertible note with Cahas Mountain in the amount of $50,000 with an interest rate of 8% per year, this note expires on June 30, 2019. The note is convertible into common shares of Metwood, Inc. at par value of $.001 and if converted in its entirety will dilute the current shareholders by a maximum of 50,000,000 shares of common stock. The maximum conversion in any year is 10,000,000 shares of common stock. A debt discount of $50,000 was recorded at issuance and $14,706 was amortized and included in interest expense during the year ended June 30, 2017.

COMMITMENT AND CONTINGENCIES

COMMITMENT AND CONTINGENCIES	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
NOTE 4 - COMMITMENT AND CONTINGENCIES	During the year ended June 30, 2005, the Company entered into a sales and leaseback transaction with a related party. The Company sold various buildings at the corporate headquarters which house its manufacturing plants, executive offices and other buildings for $600,000 in cash. The Company simultaneously entered into a commercial lease agreement with the related party whereby the Company is committed to lease back these same properties for $6,800 per month over a ten-year term expiring December 31, 2014. On July 1, 2015 a new lease was entered into with the related party. This lease terms have a term of five years and the monthly rental is $5,500 in cash, in addition the Company issued common stock as part of the transaction, this portion of the lease is covered in Note 8. Future annual commitments under the current operating lease are: Payments in cash Amortization of Contra equity account Fiscal year end June 30, 2018 66,000 312,000 Fiscal year end June 30, 2019 66,000 312,000 Fiscal year end June 30, 2020 66,000 312,000 Total commitments $ 198,000 $ 936,000 At June 30, 2017 and 2016, the Company had the following customer concentrations: Sales Accounts Receivable 2017 2016 2017 2016 Customer A 14 % 13 % 14 % 15 % Customer B 12 % 11 %* 15 % 23 % Customer C * * 16 % * Customer D * * 13 % * Customer E * * * 20 % *Amounts to less than 10%

EQUITY

EQUITY	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
NOTE 5 - EQUITY	On July 1, 2015, the Company entered into a ten-year commercial operation lease with a company related through common ownership. The related party is Cahas Mountain Properties in which Robert Callahan, our Chief Executive Officer, is a Managing Member. The lease covers various buildings and property which house our manufacturing plant, executive offices and other buildings with a current monthly rental of $5,500.00. As part of the lease agreement the Company issued 2,400,000 of its shares with a fair value of $1,560,000 at the date of the agreement. This amount is recorded on our books as a contra equity account, and is amortized over the five year term of the lease. See note 4 for commitments and contingencies.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
NOTE 6 - INCOME TAXES	The Company determined that the future use of a Deferred Tax Asset was no longer appropriate and therefore the Deferred tax Asset previously shown on the Balance Sheet has been expensed during this year as a line item on the Statement of operations. The decision was made that the earnings in the near term would not be sufficient to allow the utilization of the deferred tax asset. The difference between the expected income tax expense (benefit) and the actual tax expense (benefit) computed by using the Federal statutory rate of 39% is as follows: 2017 Tax Rate 2016 Tax Rate Expected income tax benefit at statutory rate of 39% $ 169,000 39 % $ 162,000 39 % Permanent differences (124,000 ) (30 %) (126,000 ) (30 %) Change in estimate (17,000 ) (4 %) 0 Change in valuation allowance (28,000 ) (6 %) 281,000 (68 %) Income tax expense (benefit) $ -0- $ 245,000 59 % Deferred tax assets and liabilities are provided for significant income and expense items recognized in different years for tax and financial reporting purposes. Temporary differences, which give rise to a net deferred tax asset, are as follows: Deferred tax assets: 2017 2016 Tax benefit of net operating loss carry-forward $ 465,000 $ 451,000 Book and tax difference 89,000 75,000 Less: valuation allowance (554,000 ) (526,000 ) Net deferred tax asset $ 0 $ 0 The Company had a federal net operating tax loss carry-forward of approximately $1,177,000 as of June 30, 2017. The loss carry-forwards are available to offset future taxable income with the federal carry-forwards beginning to expire in 2020. . At June 30, 2017 the deferred tax valuation allowance increased by $28,000. The realization of the tax benefits is subject to the sufficiency of taxable income in future years. The deferred tax assets represent the amounts expected to be realized before expiration. The Company periodically assesses the likelihood that it will be able to recover its deferred tax assets. The Company considers all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing prudent and feasible profits. As of June 30, 2017 and 2016, the Company established valuation allowances equal to the full amount of the net deferred tax assets due to the uncertainty of the utilization of the operating losses in future periods. For the years ended June 30, 2017 and 2016, no amounts have been recognized for uncertain tax positions and no amounts have been recognized related to interest or penalties related to uncertain tax positions. The Company has determined that it is not reasonably likely for the amounts of unrecognized tax benefits to significantly increase or decrease within the next twelve months. The Company is currently subject to a three-year statute of limitations by major tax jurisdictions.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
NOTE 7 - LEGAL PROCEEDINGS	On June 27, 2016 a lawsuit was filed alleging breach of contract. The contract in question would have changed the control of the public company to a third party. Management has determined that judgment will be in the favor of the Company, consequently no amounts have been accrued related to this matter. See Note 9.

STOCKHOLDER'S EQUITY

STOCKHOLDER'S EQUITY	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
NOTE 8 - STOCKHOLDER'S EQUITY	On July 1, 2015, the Company entered into a ten-year commercial operation lease with a company related through common ownership. The related party is Cahas Mountain Properties in which Robert Callahan, our Chief Executive Officer, is a Managing Member. The lease covers various buildings and property which house our manufacturing plant, executive offices and other buildings with a current monthly rental of $5,500.00. As part of the lease agreement the Company issued 2,400,000 of its shares with a fair value of $1,560,000 at the date of the agreement. This amount is recorded on our books as a contra equity account, and is amortized over the five year term of the lease. See note 4 for commitments and contingencies.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
NOTE 9 - SUBSEQUENT EVENTS	In October 2017 the legal matter referred to in Note 7 was decided by a court and confirmed on appeal that the Company was not in breach of contract. On October 11, 2018, the Company entered into a contract with Emerge Nutraceuticals, a Florida corporation. When completed this contract will transfer all of Metwood’s assets and liabilities to its current controlling shareholder and Emerge Nutraceuticals, Inc. will become the reporting entity.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES (Policies)	12 Months Ended
	Jun. 30, 2017
Summary Of Significant Accounting Practices
Going Concern	The consolidated financial statements have been presented on the basis that we are a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. We have sustained significant operating losses which raises substantial doubt about the Company’s ability to continue as a going concern. During the year ended June 30, 2017, The Company incurred a loss from operations of $434,612 and has an accumulated deficit of $1,671,189. Management will continue its ongoing efforts to increase the customer base and seek lower cost suppliers to generate future profits. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern and do not include adjustments that might result from the outcome of this uncertainty. The basis of accounting contemplates the recovery of the Company’s assets and the satisfaction of liabilities in the normal course of business.
Basis of Presentation	Basis of Presentation
Management's Use of Estimates	Management's Use of Estimates
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Cash and Cash Equivalents	Cash and Cash Equivalents
Accounts Receivable	Accounts Receivable – The Company grants credit in the form of unsecured accounts receivable to its customers based on an evaluation of their financial condition. We perform ongoing credit evaluations of customers. The estimate of the allowance for doubtful accounts, which is charged off to bad debt expense, is based on management’s assessment of current economic conditions and historical collection experience with each customer. At June 30, 2017 and 2016, the allowance for doubtful accounts was $8,362 and $8,362 respectively, specific customer receivables are considered past due when they are outstanding beyond their contractual terms and are charged off to the allowance for doubtful accounts when determined uncollectible. For the years ended June 30, 2017 and 2016, the bad debt expense was $(47) and $1,202, respectively.
Inventory	Inventory 2017 2016 Raw materials $ 433,637 $ 390,473 Work in process 84,364 88,730 Total inventory $ 518,001 $ 479,203 The Company recorded an inventory reserve of $25,788 and $33,702 during the years ended June 30, 2017 and 2016, respectively.
Property and Equipment	Property and Equipment Useful Life 2017 2016 Leasehold improvements 39 $ 274,869 $ 274,869 Furniture, fixtures and equipment 5 78,222 78,222 Computers and software 3 186,517 174,541 Machinery and equipment 10 741,884 720,585 Vehicles 5 393,887 412,917 Land improvements 39 67,959 67,958 Total property and equipment 1,743,338 1,729,092 Less accumulated depreciation (1,273,705 ) (1,199,154 ) Total property and equipment $ 469,633 $ 529,938
Impairment of Long-lived Assets	Impairment of Long-lived Assets
Patents	Patents
Revenue Recognition	Revenue Recognition
Income Taxes	Income Taxes Income Taxes. A
Research and Development	Research and Development
Advertising	Advertising
Earnings Per Common Share	Earnings Per Common Share During the future fiscal years the Company may be required to issued up to fifty million shares of common stock to satisfy a convertible note entered into in August 2016. This note expires on June 30, 2019 and 10,000,000 shares of common stock can be issued in any year. When the contract noted in the subsequent events Note 9 is consummated the Company will be required to issue an additional 30,000,000 shares of common stock.
Recent Accounting Pronouncements	In February, 2016 the FASB issued ASU 20 16-0 2, “Leases (Topic 842)” requiring lessees to recognize lease assets and lease liabilities for most leases classified as operating leases under previous U.S. GAAP. The guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company will be required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The adoption of this standard is not expected have a material impact on the Company’s consolidated financial statements. Accounting Standard Update No. 2014-09, (“ASU 2014-09’) Revenue from Customers (Topic 606), became effective for us in the period ending June 30, 2019. No significant adjustment was required as a result of adopting the new revenue standard. The comparative information has not been restated and continues to be reported under the historic accounting standards in effect for those periods. The impact of the adoption of the new revenue standard is expected to be immaterial to the Company’s net income on an ongoing basis.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES (Tables)	12 Months Ended
	Jun. 30, 2017
Summary Of Significant Accounting Practices Tables Abstract
Description of comparative inventory values	2017 2016 Raw materials $ 433,637 $ 390,473 Work in process 84,364 88,730 Total inventory $ 518,001 $ 479,203
Schedule of maintenance and repairs are charged to operations as incurred	Useful Life 2017 2016 Leasehold improvements 39 $ 274,869 $ 274,869 Furniture, fixtures and equipment 5 78,222 78,222 Computers and software 3 186,517 174,541 Machinery and equipment 10 741,884 720,585 Vehicles 5 393,887 412,917 Land improvements 39 67,959 67,958 Total property and equipment 1,743,338 1,729,092 Less accumulated depreciation (1,273,705 ) (1,199,154 ) Total property and equipment $ 469,633 $ 529,938

COMMITMENT AND CONTINGENCIES (T

COMMITMENT AND CONTINGENCIES (Tables)	12 Months Ended
	Jun. 30, 2017
Commitment And Contingencies
Schedule of future annual commitments under the current operating lease	Payments in cash Amortization of Contra equity account Fiscal year end June 30, 2018 66,000 312,000 Fiscal year end June 30, 2019 66,000 312,000 Fiscal year end June 30, 2020 66,000 312,000 Total commitments $ 198,000 $ 936,000
Schedule of customer concentrations	Sales Accounts Receivable 2017 2016 2017 2016 Customer A 14 % 13 % 14 % 15 % Customer B 12 % 11 %* 15 % 23 % Customer C * * 16 % * Customer D * * 13 % * Customer E * * * 20 %

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2017
Income Taxes Tables Abstract
Schedule of difference between the expected income tax expense (benefit) and the actual tax expense (benefit) computed by using the Federal statutory rate	2017 Tax Rate 2016 Tax Rate Expected income tax benefit at statutory rate of 39% $ 169,000 39 % $ 162,000 39 % Permanent differences (124,000 ) (30 %) (126,000 ) (30 %) Change in estimate (17,000 ) (4 %) 0 Change in valuation allowance (28,000 ) (6 %) 281,000 (68 %) Income tax expense (benefit) $ -0- $ 245,000 59 %
Schedule of Temporary differences, which give rise to a net deferred tax asset recognized in different years	Deferred tax assets: 2017 2016 Tax benefit of net operating loss carry-forward $ 465,000 $ 451,000 Book and tax difference 89,000 75,000 Less: valuation allowance (554,000 ) (526,000 ) Net deferred tax asset $ 0 $ 0

ORGANIZATION AND OPERATIONS (De

ORGANIZATION AND OPERATIONS (Details Narrative)	12 Months Ended
	Jun. 30, 2017
Organization And Operations
State of incorporation	Virginia
Date of incorporation	Apr. 7, 1993

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Summary Of Significant Accounting Practices Details Narrative Abstract
Raw materials	$ 433,637	$ 390,473
Work in process	84,364	88,730
Total inventory	$ 518,001	$ 479,203

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Total property and equipment, gross	$ 1,743,338	$ 1,729,092
Less accumulated depreciation	(1,273,705)	(1,199,154)
Total property and equipment, net	$ 469,633	529,938
Leasehold improvements [Member]
Property and equipment useful life	39 years
Total property and equipment, gross	$ 274,869	274,869
Furniture, fixtures and equipment [Member]
Property and equipment useful life	5 years
Total property and equipment, gross	$ 78,222	78,222
Computers and software [Member]
Property and equipment useful life	3 years
Total property and equipment, gross	$ 186,517	174,541
Machinery and equipment [Member]
Property and equipment useful life	10 years
Total property and equipment, gross	$ 741,884	720,585
Vehicles [Member]
Property and equipment useful life	5 years
Total property and equipment, gross	$ 393,887	412,917
Land improvements [Member]
Property and equipment useful life	39 years
Total property and equipment, gross	$ 67,959	$ 67,958

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Income (loss) from operations	$ (434,612)	$ (659,896)
Accumulated deficit	(1,671,189)	(1,236,577)
FDIC insured amount	250,000
Allowance for doubtful accounts receivable, current	8,362	8,362
Bad debts charged off	(47)	1,202
Inventory reserve	25,788	33,702
Impairment of long-lived assets	0	0
Research and development expense	$ 52,130	$ 5,700
Description for antidilutive effect of securities excluded from computation of EPS	</p> <p style="font: 11pt/12.15pt Times New Roman, Times, Serif; margin: 0 58.4pt 2.4pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the future fiscal years the Company may be required to issued up to fifty million shares of common stock to satisfy a convertible note entered into in August 2016. This note expires on June 30, 2019 and 10,000,000 shares of common stock can be issued in any year. When the contract noted in the subsequent events Note 10 is consummated the Company will be required to issue an additional 30,000,000 shares of common stock.</font></p>" id="sjs-B11">&lt;p style="margin: 0pt">&lt;/p> &lt;p style="font: 11pt/12.15pt Times New Roman, Times, Serif; margin: 0 58.4pt 2.4pt 0; text-align: justify">&lt;font style="font: 10pt Times New Roman, Times, Serif">During the future fiscal years the Company may be required to issued up to fifty million shares of common stock to satisfy a convertible note entered into in August 2016. This note expires on June 30, 2019 and 10,000,000 shares of common stock can be issued in any year. When the contract noted in the subsequent events Note 10 is consummated the Company will be required to issue an additional 30,000,000 shares of common stock.&lt;/font>&lt;/p>
Minimum [Member]
Property, plant and equipment, useful life	3 years
Maximum [Member]
Property, plant and equipment, useful life	39 years

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 18, 2016	Jun. 30, 2017	Jun. 30, 2016
Sales		$ 1,864,222	$ 1,781,062
Accounts receivable, related parties		0	2,000
Cahas Mountain, LLC. [Member]
Sales		12,000	$ 19,000
Cahas Mountain, LLC. [Member] | Convertible Note Payable [Member]
Interest rate	8.00%
Convertible note payable	$ 50,000
Maturity date	Jun. 30, 2019
Description for terms of conversion feature	<font style="font: 10pt Times New Roman, Times, Serif">The note is convertible into common shares of Metwood, Inc. at par value of $.001 and if converted in its entirety will dilute the current shareholders by a maximum of 50,000,000 shares of common stock. The maximum conversion in any year is 10,000,000 shares of common stock.</font></p>" id="sjs-B11">&lt;p style="margin: 0pt; text-align: justify">&lt;font style="font: 10pt Times New Roman, Times, Serif">The note is convertible into common shares of Metwood, Inc. at par value of $.001 and if converted in its entirety will dilute the current shareholders by a maximum of 50,000,000 shares of common stock. The maximum conversion in any year is 10,000,000 shares of common stock.&lt;/font>&lt;/p>
Amortization of note discount		14,706
Debt discount		$ 50,000
Cahas Mountain Properties [Member]
Interest rate		6.00%	6.00%
Advances payable, related parties		$ 77,000	$ 81,000
Accrued interest payable		28,000	19,000
Interest expense		$ 23,000	$ 4,000

COMMITMENT AND CONTINGENCIES (D

COMMITMENT AND CONTINGENCIES (Details)	Jun. 30, 2017USD ($)
Amortization Of Contra Equity Account [Member]
Fiscal year end June 30, 2018	$ 312,000
Fiscal year end June 30, 2019	312,000
Fiscal year end June 30, 2020	312,000
Total commitments	936,000
Payments In Cash [Member]
Fiscal year end June 30, 2018	66,000
Fiscal year end June 30, 2019	66,000
Fiscal year end June 30, 2020	66,000
Total commitments	$ 198,000

COMMITMENT AND CONTINGENCIES _2

COMMITMENT AND CONTINGENCIES (Details 1)		12 Months Ended
		Jun. 30, 2017		Jun. 30, 2016
Customer A [Member]
Sales		14.00%		13.00%
Accounts Receivable		14.00%		15.00%
Customer B [Member]
Sales		12.00%		11.00%	[1]
Accounts Receivable		15.00%		23.00%
Customer C [Member]
Sales	[1]
Accounts Receivable		16.00%			[1]
Customer D [Member]
Sales	[1]
Accounts Receivable		13.00%			[1]
Customer E [Member]
Sales	[1]
Accounts Receivable			[1]	20.00%
[1]	Amounts to less than 10%

COMMITMENT AND CONTINGENCIES _3

COMMITMENT AND CONTINGENCIES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2005
Commercial Lease Agreement [Member]
Term of lease	5 years
Term of lease description	<font style="font: 10pt Times New Roman, Times, Serif">The Company simultaneously entered into a commercial lease agreement with the related party whereby the Company is committed to lease back these same properties for $6,800 per month over a ten-year term expiring December 31, 2014.</font></p>" id="sjs-B5">&lt;p style="margin: 0pt; text-align: justify">&lt;font style="font: 10pt Times New Roman, Times, Serif">The Company simultaneously entered into a commercial lease agreement with the related party whereby the Company is committed to lease back these same properties for $6,800 per month over a ten-year term expiring December 31, 2014.&lt;/font>&lt;/p>
Operating leases, rent expense	$ 5,500
Corporate Headquarters [Member]
Property, plant and equipment sold in exchange for cash		$ 600,000

EQUITY (Details Narrative)

EQUITY (Details Narrative) - shares	12 Months Ended
	Jun. 30, 2017	Oct. 11, 2018	Jun. 30, 2016
Common stock, authorized	100,000,000		100,000,000
Common stock, issued	17,766,647		17,766,647
Common stock, outstanding	17,766,647		17,766,647
Preferred stock, authorized	40,000,000		40,000,000
Preferred stock, issued	0		0
Preferred stock, outstanding	0		0
Common stock issuable upon conversion, shares	50,000,000
Emerge Nutraceuticals, Inc. [Member] | Subsequent Event [Member]
Common stock shares reserved for future issuance		30,000,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Income Taxes Details Abstract
Expected income tax benefit at statutory rate of 39%	$ 169,000	$ 162,000
Permanent differences	(124,000)	(126,000)
Change in estimate	(17,000)	0
Change in valuation allowance	(28,000)	281,000
Income tax expense (benefit)	$ 0	$ 245,233
Expected income tax benefit at statutory rate of 39%, tax rate	39.00%	39.00%
Permanent differences, tax rate	(30.00%)	(30.00%)
Change in estimate, tax rate	(4.00%)
Change in valuation allowance, tax rate	(6.00%)	(68.00%)
Income tax expense (benefit), tax rate		59.00%

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Deferred tax assets:
Tax benefit of net operating loss carry-forward	$ 465,000	$ 451,000
Book and tax difference	89,000	75,000
Less: valuation allowance	(554,000)	(526,000)
Net deferred tax asset	$ 0	$ 0

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Change in valuation allowance	$ (28,000)	$ 281,000
Federal [Member]
Net operating tax loss carry-forward	$ (1,177,000)
Operating loss carryforward expiry date	2020

STOCKHOLDER_S EQUITY (Details N

STOCKHOLDER’S EQUITY (Details Narrative) - Lease Agreement [Member] - July 1, 2015 [Member] - Cahas Mountain Properties [Member]	12 Months Ended
	Jun. 30, 2017USD ($)shares
Term of lease	10 years
Operating lease periodic rental payments, amount	$ 5,500
Frequency of periodic payments	Monthly
Common stock shares issued under agreement | shares	2,400,000
Fair value of stock issued under agreement	$ 1,560,000
Amortization period	5 years