SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)

6 Months Ended

Dec. 31, 2023

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, 2023
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	6,343,510	$	1,047,842	$	7,391,352
Loose jewels		310,707		203,580		514,287
Total	$	6,654,217	$	1,251,422	$	7,905,639
Product line cost of goods sold
Finished jewelry	$	3,392,715	$	525,801	$	3,918,516
Loose jewels		96,448		104,545		200,993
Total	$	3,489,163	$	630,346	$	4,119,509
Product line gross profit
Finished jewelry	$	2,950,795	$	522,041	$	3,472,836
Loose jewels		214,259		99,035		313,294
Total	$	3,165,054	$	621,076	$	3,786,130
Depreciation and amortization	$	45,392	$	133,337	$	178,729
Capital expenditures	$	179,559	$	98,691	$	278,250

	Three Months Ended December 31, 2022
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	7,123,440	$	1,312,768	$	8,436,208
Loose jewels		722,388		1,207,526		1,929,914
Total	$	7,845,828	$	2,520,294	$	10,366,122
Product line cost of goods sold
Finished jewelry	$	3,446,197	$	739,134	$	4,185,331
Loose jewels		263,285		607,965		871,250
Total	$	3,709,482	$	1,347,099	$	5,056,581
Product line gross profit
Finished jewelry	$	3,677,243	$	573,634	$	4,250,877
Loose jewels		459,103		599,561		1,058,664
Total	$	4,136,346	$	1,173,195	$	5,309,541
Depreciation and amortization	$	56,505	$	114,684	$	171,189
Capital expenditures	$	22,620	$	164,263	$	186,883

	Six Months Ended December 31, 2023
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	9,940,523	$	1,752,088	$	11,692,611
Loose jewels		630,381		535,670		1,166,051
Total	$	10,570,904	$	2,287,758	$	12,858,662
Product line cost of goods sold
Finished jewelry	$	4,968,315	$	909,368	$	5,877,683
Loose jewels		196,426		243,941		440,367
Total	$	5,164,741	$	1,153,309	$	6,318,050
Product line gross profit
Finished jewelry	$	4,972,208	$	842,720	$	5,814,928
Loose jewels		433,955		291,729		725,684
Total	$	5,406,163	$	1,134,449	$	6,540,612
Depreciation and amortization	$	94,151	$	262,868	$	357,019
Capital expenditures	$	299,704	$	195,598	$	495,302

	Six Months Ended December 31, 2022
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	11,527,029	$	2,449,585	$	13,976,614
Loose jewels		1,171,285		2,592,305		3,763,590
Total	$	12,698,314	$	5,041,890	$	17,740,204
Product line cost of goods sold
Finished jewelry	$	5,416,308	$	1,375,723	$	6,792,031
Loose jewels		425,984		1,270,889		1,696,873
Total	$	5,842,292	$	2,646,612	$	8,488,904
Product line gross profit
Finished jewelry	$	6,110,721	$	1,073,862	$	7,184,583
Loose jewels		745,301		1,321,416		2,066,717
Total	$	6,856,022	$	2,395,278	$	9,251,300
Depreciation and amortization	$	119,892	$	189,008	$	308,900
Capital expenditures	$	159,608	$	457,675	$	617,283

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,
	2023			2022			2023			2022
Product line cost of goods sold	$	4,119,509		$	5,056,581		$	6,318,050		$	8,488,904
Non-capitalized manufacturing and production control expenses		664,578			686,834			1,262,463			1,063,887
Freight out		338,249			358,617			542,465			634,354
Inventory write-downs		-			-			-			119,000
Other inventory adjustments		(72,389	)		(30,257	)		(64,524	)		(148,360	)
Cost of goods sold	$	5,049,947		$	6,071,775		$	8,058,454		$	10,157,785

Reconciliation of Product Line Gross Profit

A reconciliation of the Company’s consolidated product line gross profit to the Company’s consolidated net loss before income taxes is as follows:

	Three Months Ended December 31,						Six Months Ended December 31,
	2023			2022			2023			2022
Product line gross profit	$	3,786,130		$	5,309,541		$	6,540,612		$	9,251,300
Non-allocated cost of goods sold		(930,438	)		(1,015,194	)		(1,740,404	)		(1,668,881	)
Sales and marketing		(4,296,324	)		(4,339,684	)		(7,018,289	)		(7,447,630	)
General and administrative		(1,497,061	)		(1,187,955	)		(3,351,329	)		(2,601,431	)
Other income (expense) net		71,788			59,574			164,048			99,776
Loss before income taxes	$	(2,865,905	)	$	(1,173,718	)	$	(5,405,362	)	$	(2,366,866	)

Net Sales by Geographic Area

The following presents net sales data by geographic area:

	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
Net sales
United States	$	7,742,776	$	9,989,702	$	12,511,686	$	17,085,074
International		162,863		376,420		346,976		655,130
Total	$	7,905,639	$	10,366,122	$	12,858,662	$	17,740,204