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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2019
Mar. 31, 2018
Sales, net $ 14,088 $ 10,575 $ 36,393 $ 31,145
Cost of sales 11,995 9,106 31,750 27,623
Gross profit 2,093 1,469 4,643 3,522
Selling and administrative expenses 856 809 2,513 2,453
Operating income 1,237 660 2,130 1,069
Other income (expense), net:        
Interest expense (196) (232) (586) (694)
Change in fair value of derivative liabilities 54 9 121
Impairment on investment in iBio, Inc. (251)
Other income, net 25 9 32 13
Other expense, net (171) (169) (545) (811)
Income before income taxes 1,066 491 1,585 258
Income tax expense, net 143 103 257 397
Net income (loss) 923 388 1,328 (139)
Change in fair value of derivative liability (54)
Interest expense on Convertible debt - CD Financial, LLC 55
Accretion of Convertible debt - CD Financial, LLC 9
Diluted net income (loss) $ 923 $ 398 $ 1,328 $ (139)
Basic net income (loss) per common share (in dollars per share) $ 0.03 $ 0.02 $ 0.05 $ (0.01)
Diluted net income (loss) per common share (in dollars per share) $ 0.03 $ 0.01 $ 0.05 $ (0.01)
Weighted average common shares outstanding - basic (in shares) 29,565,943 21,135,174 28,719,452 21,135,174
Add: Equivalent shares outstanding (in shares) 542,782 836,428 582,525
Shares issuable upon conversion of Convertible Debt - CD Financial, LLC (in shares) 8,230,769
Weighted average common shares outstanding - diluted (in shares) 30,108,725 30,202,371 29,301,977 21,135,174