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CURRENT ECONOMIC CONDITIONS
3 Months Ended
Sep. 30, 2022
CURRENT ECONOMIC CONDITIONS  
CURRENT ECONOMIC CONDITIONS

NOTE 8       CURRENT ECONOMIC CONDITIONS

The COVID-19 pandemic is having significant effects on global markets, supply chains, businesses, and communities. The Company put preparedness plans in place at the manufacturing facility. They have adjusted the number of people allowed at the facilities, enforced social distancing, maintained proper sanitation protocol and have asked that any high-risk employees or employees feeling ill to not come in. The office and sales staff continues to work, while adhering to social distancing guidelines, implementing flexible hours, reducing person-to-person interaction and increasing safety measures.

The Company believes we have sufficient liquidity to satisfy current cash needs, however, we continue to evaluate and take action, as necessary, to preserve adequate liquidity and ensure that the business can continue to operate during these uncertain times.

The potential impact to the Company’s consolidated financial statements could occur as early as the second quarter of fiscal year ending June 30, 2023 and include, but not limited to: impairment of long-lived assets, including property and equipment and operating lease right-of-use assets related to the Company’s fair value; and receivables and other financial assets.