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CONDENSED BALANCE SHEETS - USD ($)
Dec. 31, 2015
Jun. 30, 2015
CURRENT ASSETS    
Cash and cash equivalents $ 241,806 $ 347,598
Accounts receivable 793,768 1,329,327
Inventories 2,227,258 2,031,232
Prepaid expenses and other current assets 78,647 73,204
TOTAL CURRENT ASSETS 3,341,479 3,781,361
PLANT, PROPERTY AND EQUIPMENT:    
Land and improvements 651,015 651,015
Building and improvements 1,957,815 1,948,165
Machinery and equipment 3,344,566 3,332,356
Furniture and fixtures 268,700 268,700
Property, Plant And Equipment, gross 6,222,096 6,200,236
Less accumulated depreciation 5,366,849 5,348,560
Property, Plant And Equipment, net 855,247 851,676
DEFERRED COSTS 65,095 65,095
TOTAL ASSETS 4,261,821 4,698,132
CURRENT LIABILITIES:    
Note payable - current portion 500,000 500,000
Trade accounts payable 268,211 348,253
Accrued expenses and other liabilities 248,571 443,798
Accrued compensation and benefits payable 133,308 200,186
Accrued pension costs 235,060 203,757
TOTAL CURRENT LIABILITIES 1,385,150 1,695,994
LONG-TERM PENSION LIABILITY 983,874 1,051,005
TOTAL LIABILITIES 2,369,024 2,746,999
STOCKHOLDERS' EQUITY:    
Preferred stock, par value $1.00; authorized 250,000 shares, issued and outstanding-none 0 0
Common stock, par value $.01; authorized 3,000,000 shares; 1,693,397 shares issued and 1,362,031 shares outstanding at December 31, 2015 and June 30, 2015 16,934 16,934
Additional paid-in capital 2,882,842 2,882,842
Retained earnings 305,160 430,628
Accumulated other comprehensive loss (825,111) (892,243)
Stockholders Equity before treasury stock 2,379,825 2,438,161
Less: Treasury stock 331,366 shares at cost (487,028) (487,028)
TOTAL STOCKHOLDERS' EQUITY 1,892,797 1,951,133
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,261,821 $ 4,698,132