SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)

6 Months Ended

Dec. 31, 2024

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, 2024
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	3,802,280	$	468,110	$	4,270,390
Loose jewels		326,809		32,048		358,857
Total	$	4,129,089	$	500,158	$	4,629,247
Product line cost of goods sold
Finished jewelry	$	2,231,617	$	354,414	$	2,586,031
Loose jewels		157,147		20,115		177,262
Total	$	2,388,764	$	374,529	$	2,763,293
Product line gross profit
Finished jewelry	$	1,570,663	$	113,696	$	1,684,359
Loose jewels		169,662		11,933		181,595
Total	$	1,740,325	$	125,629	$	1,865,954
Depreciation and amortization	$	95,002	$	124,045	$	219,047
Capital expenditures	$	66,448	$	825	$	67,273

	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

	Six Months Ended December 31, 2024
	Online Channels		Traditional		Total
Net sales
Finished jewelry	$	5,851,225	$	1,382,896	$	7,234,121
Loose jewels		440,618		187,913		628,531
Total	$	6,291,843	$	1,570,809	$	7,862,652
Product line cost of goods sold
Finished jewelry	$	3,200,378	$	1,210,478	$	4,410,856
Loose jewels		203,995		81,141		285,136
Total	$	3,404,373	$	1,291,619	$	4,695,992
Product line gross profit
Finished jewelry	$	2,650,847	$	172,418	$	2,823,265
Loose jewels		236,623		106,772		343,395
Total	$	2,887,470	$	279,190	$	3,166,660
Depreciation and amortization	$	187,010	$	247,546	$	434,556
Capital expenditures	$	163,095	$	825	$	163,920

	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

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,
	2024			2023			2024			2023
Product line cost of goods sold	$	2,763,293		$	4,119,509		$	4,695,992		$	6,318,050
Non-product line cost of goods sold: Manufacturing and production control expenses		345,693			664,578			717,377			1,262,463
Freight out		201,488			338,249			283,968			542,465
Other inventory adjustments		(186,206	)		(72,389	)		(340,666	)		(64,524	)
Cost of goods sold	$	3,124,268		$	5,049,947		$	5,356,671		$	8,058,454

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,
	2024			2023			2024			2023
Product line gross profit	$	1,865,954		$	3,786,130		$	3,166,660		$	6,540,612
Non-allocated cost of goods sold		(360,975	)		(930,438	)		(660,679	)		(1,740,404	)
Sales and marketing		(2,772,455	)		(4,296,324	)		(4,649,785	)		(7,018,289	)
General and administrative		(1,271,539	)		(1,497,061	)		(2,533,831	)		(3,351,329	)
Other income, net		2,492			71,788			7,592			164,048
Loss before income taxes	$	(2,536,523	)	$	(2,865,905	)	$	(4,670,043	)	$	(5,405,362	)

Net Sales by Geographic Area

The following presents net sales data by geographic area:

	Three Months Ended December 31,				Six Months Ended December 31,
	2024		2023		2024		2023
Net sales
United States	$	4,629,247	$	7,742,776	$	7,862,652	$	12,511,686
International		-		162,863		-		346,976
Total	$	4,629,247	$	7,905,639	$	7,862,652	$	12,858,662