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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2023
Jun. 30, 2022
Current assets:    
Cash and cash equivalents $ 10,446,532 $ 15,668,361
Restricted cash 5,122,379 5,510,979
Accounts receivable, net 380,085 2,220,816
Inventory, net 7,476,046 11,024,276
Note receivable 250,000 250,000
Prepaid expenses and other assets 901,354 1,190,012
Total current assets 24,576,396 35,864,444
Long-term assets:    
Inventory, net 19,277,530 22,488,524
Property and equipment, net 2,491,569 1,901,176
Intangible assets, net 305,703 265,730
Operating lease right-of-use assets 2,183,232 2,787,419
Deferred income taxes, net 0 5,851,904
Other assets 49,658 49,658
Total long-term assets 24,307,692 33,344,411
TOTAL ASSETS 48,884,088 69,208,855
Current liabilities:    
Accounts payable 4,786,155 4,401,229
Operating lease liabilities, current portion 880,126 856,571
Accrued expenses and other liabilities 1,395,479 1,546,483
Total current liabilities 7,061,760 6,804,283
Long-term liabilities:    
Noncurrent operating lease liabilities 2,047,742 2,846,805
Total long-term liabilities 2,047,742 2,846,805
Total liabilities 9,109,502 9,651,088
Commitments and contingencies (Note 10)
Shareholders' equity:    
Common stock, no par value; 50,000,000 shares authorized; 30,912,108 shares issued and 30,523,705 shares outstanding at June 30, 2023 and 30,778,046 shares issued and 30,747,759 shares outstanding at June 30, 2022 57,242,211 57,242,211
Additional paid-in capital 26,205,919 25,956,491
Treasury stock, at cost, 388,403 shares and 30,287 shares at June 30, 2023 and 2022, respectively (489,979) (38,164)
Accumulated deficit (43,183,565) (23,602,771)
Total shareholders' equity 39,774,586 59,557,767
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 48,884,088 $ 69,208,855