SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)

9 Months Ended

Mar. 31, 2022

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, 2022
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	5,720,197	$	1,700,394	$	7,420,591
Loose jewels		634,617		1,696,627		2,331,244
Total	$	6,354,814	$	3,397,021	$	9,751,835
Product line cost of goods sold
Finished jewelry	$	2,560,952	$	1,148,912	$	3,709,864
Loose jewels		229,714		784,272		1,013,986
Total	$	2,790,666	$	1,933,184	$	4,723,850
Product line gross profit
Finished jewelry	$	3,159,245	$	551,482	$	3,710,727
Loose jewels		404,903		912,355		1,317,258
Total	$	3,564,148	$	1,463,837	$	5,027,985
Operating income	$	350,276	$	65,592	$	415,868
Depreciation and amortization	$	52,613	$	59,374	$	111,987
Capital expenditures	$	28,145	$	446,445	$	474,590

	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

	Nine Months Ended March 31, 2022
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	18,659,690	$	4,986,354	$	23,646,044
Loose jewels		2,388,584		7,750,653		10,139,237
Total	$	21,048,274	$	12,737,007	$	33,785,281
Product line cost of goods sold
Finished jewelry	$	7,705,127	$	3,043,196	$	10,748,323
Loose jewels		877,604		3,630,393		4,507,997
Total	$	8,582,731	$	6,673,589	$	15,256,320
Product line gross profit
Finished jewelry	$	10,954,563	$	1,943,158	$	12,897,721
Loose jewels		1,510,980		4,120,260		5,631,240
Total	$	12,465,543	$	6,063,418	$	18,528,961
Operating income	$	2,104,674	$	711,123	$	2,815,797
Depreciation and amortization	$	173,786	$	176,412	$	350,198
Capital expenditures	$	114,445	$	1,135,851	$	1,250,296

	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

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 March 31,						Nine Months Ended March 31,
	2022			2021			2022			2021
Product line cost of goods sold	$	4,723,850		$	4,520,274		$	15,256,320		$	13,826,235
Non-capitalized manufacturing and production control expenses		484,299			398,073			1,243,528			1,122,715
Freight out		294,143			191,700			976,855			683,580
Inventory write-off		-			23,000			232,000			128,000
Other inventory adjustments		(205,762	)		(39,595	)		(361,677	)		(303,315	)
Cost of goods sold	$	5,296,530		$	5,093,452		$	17,347,026		$	15,457,215

Net Sales by Geographic Area

The following presents net sales by geographic area:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2022		2021		2022		2021
Net sales
United States	$	9,390,774	$	8,969,267	$	32,237,221	$	27,857,667
International		361,061		466,789		1,548,060		1,651,473
Total	$	9,751,835	$	9,436,056	$	33,785,281	$	29,509,140