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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sales, net $ 9,445 $ 8,582
Cost of sales 8,130 7,281
Gross profit 1,315 1,301
Selling and administrative expenses 830 852
Operating income 485 449
Other income (expense), net:    
Interest expense (237) (240)
Change in fair value of derivative liabilities (3) 214
Other income, net 24 9
Other expense, net (216) (17)
Income before income taxes 269 432
Income tax expense, net 28 29
Net income $ 241 403
Interest expense on Convertible debt - CD Financial, LLC 82
Accretion of Convertible debt - CD Financial, LLC 28
Change in fair value of derivative liabilities (214)
Diluted net income $ 241 $ 299
Basic net income per common share (in dollars per share) $ 0.01 $ 0.02
Diluted net income per common share (in dollars per share) $ 0.01 $ 0.01
Weighted average common shares outstanding - basic (in shares) 21,105,174 21,105,174
Add: Equivalent shares outstanding (in shares) 50,039 199,775
Shares issuable upon conversion of Convertible Debt - CD Financial, LLC (in shares) 8,230,769
Weighted average common shares outstanding - diluted (in shares) 21,155,213 29,535,718