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SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)
 9 Months Ended
Mar. 31, 2021
SEGMENT INFORMATION AND GEOGRAPHIC DATA [Abstract]  
Summary Financial Information by Reportable Segment
Summary financial information by reportable segment is as follows:

  
Three Months Ended March 31, 2021
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
Finished jewelry
 
$
4,902,964
  
$
1,316,928
  
$
6,219,892
 
Loose jewels
  
680,804
   
2,535,360
   
3,216,164
 
Total
 
$
5,583,768
  
$
3,852,288
  
$
9,436,056
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
2,045,519
  
$
1,006,417
  
$
3,051,936
 
Loose jewels
  
246,302
   
1,222,036
   
1,468,338
 
Total
 
$
2,291,821
  
$
2,228,453
  
$
4,520,274
 
             
Product line gross profit
            
Finished jewelry
 
$
2,857,445
  
$
310,511
  
$
3,167,956
 
Loose jewels
  
434,502
   
1,313,324
   
1,747,826
 
Total
 
$
3,291,947
  
$
1,623,835
  
$
4,915,782
 
             
Operating income
 
$
751,953
  
$
286,618
  
$
1,038,571
 
             
Depreciation and amortization
 
$
67,373
  
$
81,077
  
$
148,450
 
             
Capital expenditures
 
$
22,770
  
$
55,858
  
$
78,628
 

  
Three Months Ended March 31, 2020
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
Finished jewelry
 
$
2,922,439
  
$
557,729
  
$
3,480,168
 
Loose jewels
  
915,818
   
2,095,062
   
3,010,880
 
Total
 
$
3,838,257
  
$
2,652,791
  
$
6,491,048
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
1,286,865
  
$
302,636
  
$
1,589,501
 
Loose jewels
  
395,999
   
1,116,050
   
1,512,049
 
Total
 
$
1,682,864
  
$
1,418,686
  
$
3,101,550
 
             
Product line gross profit
            
Finished jewelry
 
$
1,635,574
  
$
255,093
  
$
1,890,667
 
Loose jewels
  
519,819
   
979,012
   
1,498,831
 
Total
 
$
2,155,393
  
$
1,234,105
  
$
3,389,498
 
             
Operating loss
 
$
(332,837
)
 
$
(5,861,033
)
 
$
(6,193,870
)
             
Depreciation and amortization
 
$
49,333
  
$
82,686
  
$
132,019
 
             
Capital expenditures
 
$
34,250
  
$
39,347
  
$
73,597
 

  
Nine Months Ended March 31, 2021
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
Finished jewelry
 
$
15,114,765
  
$
3,705,663
  
$
18,820,428
 
Loose jewels
  
2,520,576
   
8,168,136
   
10,688,712
 
Total
 
$
17,635,341
  
$
11,873,799
  
$
29,509,140
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
6,242,635
  
$
2,565,737
  
$
8,808,372
 
Loose jewels
  
947,417
   
4,070,446
   
5,017,863
 
Total
 
$
7,190,052
  
$
6,636,183
  
$
13,826,235
 
             
Product line gross profit
            
Finished jewelry
 
$
8,872,130
  
$
1,139,926
  
$
10,012,056
 
Loose jewels
  
1,573,159
   
4,097,690
   
5,670,849
 
Total
 
$
10,445,289
  
$
5,237,616
  
$
15,682,905
 
             
Operating income
 
$
3,021,067
  
$
1,412,758
  
$
4,433,825
 
             
Depreciation and amortization
 
$
180,946
  
$
238,565
  
$
419,511
 
             
Capital expenditures
 
$
195,695
  
$
150,417
  
$
346,112
 

  
Nine Months Ended March 31, 2020
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
Finished jewelry
 
$
11,044,107
  
$
2,732,403
  
$
13,776,510
 
Loose jewels
  
2,584,534
   
8,397,515
   
10,982,049
 
Total
 
$
13,628,641
  
$
11,129,918
  
$
24,758,559
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
4,739,488
  
$
1,517,037
  
$
6,256,525
 
Loose jewels
  
1,067,062
   
4,326,093
   
5,393,155
 
Total
 
$
5,806,550
  
$
5,843,130
  
$
11,649,680
 
             
Product line gross profit
            
Finished jewelry
 
$
6,304,619
  
$
1,215,366
  
$
7,519,985
 
Loose jewels
  
1,517,472
   
4,071,422
   
5,588,894
 
Total
 
$
7,822,091
  
$
5,286,788
  
$
13,108,879
 
             
Operating income (loss)
 
$
62,591
  
$
(5,339,831
)
 
$
(5,277,240
)
             
Depreciation and amortization
 
$
131,356
  
$
234,966
  
$
366,322
 
             
Capital expenditures
 
$
245,175
  
$
149,650
  
$
394,825
 
Reconciliation of Cost of Goods Sold
A reconciliation of the Company’s product line cost of goods sold to cost of goods sold as reported in the condensed consolidated financial statements is as follows:

  
Three Months Ended March 31,
  
Nine Months Ended March 31,
 
  
2021
  
2020
  
2021
  
2020
 
Product line cost of goods sold
 
$
4,520,274
  
$
3,101,550
  
$
13,826,235
  
$
11,649,680
 
Non-capitalized manufacturing and production control expenses
  
398,073
   
286,722
   
1,122,715
   
1,104,241
 
Freight out
  
191,700
   
153,081
   
683,580
   
425,433
 
Inventory write-off
  
23,000
   
5,471,992
   
128,000
   
5,620,991
 
Other inventory adjustments
  
(39,595
)
  
158,587
   
(303,315
)
  
(221,276
)
Cost of goods sold
 
$
5,093,452
  
$
9,171,932
  
$
15,457,215
  
$
18,579,069
 
Net Sales by Geographic Area
The following presents net sales by geographic area:

  
Three Months Ended March 31,
  
Nine Months Ended March 31,
 

 
2021
  
2020
  
2021
  
2020
 
Net sales
            
United States
 
$
8,969,267
  
$
6,153,787
  
$
27,857,667
  
$
22,560,974
 
International
  
466,789
   
337,261
   
1,651,473
   
2,197,585
 
Total
 
$
9,436,056
  
$
6,491,048
  
$
29,509,140
  
$
24,758,559