SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)

6 Months Ended

Dec. 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 December 31, 2021
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	8,452,535	$	2,086,631	$	10,539,166
Loose jewels		871,119		2,342,850		3,213,969
Total	$	9,323,654	$	4,429,481	$	13,753,135
Product line cost of goods sold
Finished jewelry	$	3,432,950	$	1,271,026	$	4,703,976
Loose jewels		333,785		1,100,780		1,434,565
Total	$	3,766,735	$	2,371,806	$	6,138,541
Product line gross profit
Finished jewelry	$	5,019,585	$	815,605	$	5,835,190
Loose jewels		537,334		1,242,070		1,779,404
Total	$	5,556,919	$	2,057,675	$	7,614,594
Operating income	$	1,432,727	$	17,868	$	1,450,595
Depreciation and amortization	$	53,470	$	60,528	$	113,998
Capital expenditures	$	27,040	$	350,545	$	377,585

	Three Months Ended December 31, 2020
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	6,588,338	$	1,676,859	$	8,265,197
Loose jewels		997,939		2,883,654		3,881,593
Total	$	7,586,277	$	4,560,513	$	12,146,790
Product line cost of goods sold
Finished jewelry	$	2,863,733	$	1,138,413	$	4,002,146
Loose jewels		388,426		1,417,177		1,805,603
Total	$	3,252,159	$	2,555,590	$	5,807,749
Product line gross profit
Finished jewelry	$	3,724,605	$	538,446	$	4,263,051
Loose jewels		609,513		1,466,477		2,075,990
Total	$	4,334,118	$	2,004,923	$	6,339,041
Operating income	$	1,494,448	$	1,026,535	$	2,520,983
Depreciation and amortization	$	59,221	$	79,384	$	138,605
Capital expenditures	$	90,852	$	52,350	$	143,202

	Six Months Ended December 31, 2021
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	12,939,493	$	3,285,960	$	16,225,453
Loose jewels		1,753,966		6,054,027		7,807,993
Total	$	14,693,459	$	9,339,987	$	24,033,446
Product line cost of goods sold
Finished jewelry	$	5,144,174	$	1,894,285	$	7,038,459
Loose jewels		647,890		2,846,121		3,494,011
Total	$	5,792,064	$	4,740,406	$	10,532,470
Product line gross profit
Finished jewelry	$	7,795,319	$	1,391,675	$	9,186,994
Loose jewels		1,106,076		3,207,906		4,313,982
Total	$	8,901,395	$	4,599,581	$	13,500,976
Operating income	$	1,754,398	$	645,530	$	2,399,928
Depreciation and amortization	$	121,172	$	117,038	$	238,210
Capital expenditures	$	86,300	$	689,405	$	775,705

	Six Months Ended December 31, 2020
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	10,211,799	$	2,388,735	$	12,600,534
Loose jewels		1,839,772		5,632,777		7,472,549
Total	$	12,051,571	$	8,021,512	$	20,073,083
Product line cost of goods sold
Finished jewelry	$	4,197,115	$	1,559,320	$	5,756,435
Loose jewels		701,115		2,848,410		3,549,525
Total	$	4,898,230	$	4,407,730	$	9,305,960
Product line gross profit
Finished jewelry	$	6,014,684	$	829,415	$	6,844,099
Loose jewels		1,138,657		2,784,367		3,923,024
Total	$	7,153,341	$	3,613,782	$	10,767,123
Operating income	$	2,269,113	$	1,126,140	$	3,395,253
Depreciation and amortization	$	113,573	$	157,488	$	271,061
Capital expenditures	$	150,129	$	94,559	$	244,688

Reconciliation of Product Line 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 December 31,					Six Months Ended December 31,
	2021		2020			2021			2020
Product line cost of goods sold	$	6,138,541	$	5,807,749		$	10,532,470		$	9,305,960
Non-capitalized manufacturing and production control expenses		416,828		395,237			759,229			724,641
Freight out		465,207		316,542			682,712			491,881
Inventory write-off		-		25,000			232,000			105,000
Other inventory adjustments		13,370		(376,820	)		(155,915	)		(263,719	)
Cost of goods sold	$	7,033,946	$	6,167,708		$	12,050,496		$	10,363,763

Net Sales by Geographic Area

The following presents net sales by geographic area:

	Three Months Ended December 31,				Six Months Ended December 31,
	2021		2020		2021		2020
Net sales
United States	$	13,021,717	$	11,388,680	$	22,846,447	$	18,888,399
International		731,418		758,110		1,186,999		1,184,684
Total	$	13,753,135	$	12,146,790	$	24,033,446	$	20,073,083