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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 2,373,915 $ 12,810,766
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 479,308 567,122
Stock-based compensation 774,341 352,583
Provision for uncollectible accounts 14,000 2,030
Recovery of sales returns (84,000) (29,000)
Inventory write-downs 195,000 150,000
Recovery of accounts receivable discounts (4,285) (9,153)
Gain on extinguishment of debt 0 (974,328)
Deferred income taxes 498,926 (6,350,830)
Changes in operating assets and liabilities:    
Accounts receivable (484,457) (955,233)
Inventory (4,535,080) 1,311,239
Prepaid expenses and other assets, net 926,780 (3,140,405)
Accounts payable 1,626,856 (973,862)
Accrued income taxes (9,878) 1,931
Accrued expenses and other liabilities (1,198,873) 3,710,232
Net cash provided by operating activities 572,553 6,473,092
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (1,496,471) (437,069)
Payment to fund note receivable 0 (250,000)
Payments for intangible assets (64,188) (46,396)
Net cash used in investing activities (1,560,659) (733,465)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Stock option exercises 758,659 1,090,090
Repurchases of common stock (38,164) 0
Net cash provided by financing activities 720,495 1,090,090
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (267,611) 6,829,717
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 21,446,951 14,617,234
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR 21,179,340 21,446,951
Supplemental disclosure of non-cash investing and financing activities:    
Additions to right-of-use assets obtained from new operating lease liabilities 0 3,908,249
Forgiveness of PPP Loan principal 0 965,000
Supplemental disclosure of cash flow information:    
Cash paid during the year for income taxes $ 0 $ 14,704