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CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2016
Jun. 30, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 346,784 $ 347,598
Accounts receivable 230,301 1,329,327
Inventories 2,532,936 2,031,232
Prepaid expenses and other current assets 107,733 73,204
TOTAL CURRENT ASSETS 3,217,754 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 3,345,387 3,332,356
Furniture and fixtures 268,700 268,700
Property, Plant And Equipment, gross 6,222,917 6,200,236
Less: accumulated depreciation 5,375,994 5,348,560
Property, Plant And Equipment, net 846,923 851,676
DEFERRED COSTS 65,095 65,095
TOTAL ASSETS 4,129,772 4,698,132
CURRENT LIABILITIES:    
Note payable 500,000 500,000
Trade accounts payable 174,487 348,253
Accrued expenses and other liabilities 337,674 443,798
Accrued compensation and benefits payable 171,620 200,186
Accrued pension costs 269,103 203,757
TOTAL CURRENT LIABILITIES 1,452,884 1,695,994
LONG-TERM PENSION LIABILITY 950,308 1,051,005
TOTAL LIABILITIES 2,403,192 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 March 31, 2016 and June 30, 2015 16,934 16,934
Additional paid-in capital 2,882,842 2,882,842
Retained earnings 105,378 430,628
Accumulated other comprehensive loss (791,546) (892,243)
Stockholders Equity before treasury stock 2,213,608 2,438,161
Less: Treasury stock 331,366 shares at cost (487,028) (487,028)
TOTAL STOCKHOLDERS' EQUITY 1,726,580 1,951,133
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,129,772 $ 4,698,132