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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2024
Jun. 30, 2024
Current assets:    
Cash and cash equivalents $ 1,519,295 $ 4,137,055
Restricted cash 5,371,580 5,328,463
Accounts receivable, net 1,263,744 844,747
Inventory, net 5,905,179 7,507,303
Note receivable 250,000 250,000
Prepaid expenses and other assets 776,122 751,476
Total current assets 15,085,920 18,819,044
Long-term assets:    
Inventory, net 17,423,082 17,423,082
Property and equipment, net 2,499,225 2,761,618
Intangible assets, net 378,430 370,186
Operating lease right-of-use assets 1,197,197 1,556,653
Other assets 49,658 49,658
Total long-term assets 21,547,592 22,161,197
TOTAL ASSETS 36,633,512 40,980,241
Current liabilities:    
Accounts payable 8,623,254 8,274,284
Current maturity of long-term debt 2,300,000 2,300,000
Operating lease liabilities, current portion 916,681 904,330
Accrued expenses and other liabilities 2,978,337 2,650,532
Total current liabilities 14,818,272 14,129,146
Long-term liabilities:    
Noncurrent operating lease liabilities 761,507 1,201,722
Total long-term liabilities 761,507 1,201,722
Total liabilities 15,579,779 15,330,868
Commitments and contingencies (Note 9)
Shareholders' equity:    
Common stock, no par value; 50,000,000 shares authorized; 3,157,113 shares issued and 3,118,273 shares outstanding at December 31, 2024 and 3,157,113 shares issued and 3,118,273 shares outstanding at June 30, 2024 67,233,259 67,233,259
Additional paid-in capital 16,527,018 16,452,615
Treasury stock, at cost, 38,841 shares at both December 31, 2024 and June 30, 2024 (489,979) (489,979)
Accumulated deficit (62,216,565) (57,546,522)
Total shareholders' equity 21,053,733 25,649,373
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 36,633,512 $ 40,980,241