XML 19 R7.htm IDEA: XBRL DOCUMENT v3.21.1
Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net (loss) income $ (1,061,297) $ 206,975
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Stock-based compensation 106,286 141,450
Depreciation 399,197 429,543
ESOP compensation expense 218,750 239,061
Loss on disposal of assets 3,757
Deferred income tax benefit (53,873) (22,533)
Changes in assets and liabilities:    
Decrease in trade accounts receivable 6,755,964 5,888,644
Increase in income taxes receivable (168,201) (79,469)
Increase in inventories (4,474,719) (3,871,109)
Increase in prepaid expenses and other current assets (55,565) (264,460)
Decrease in accounts payable (1,531) (624,350)
(Decrease) increase in accrued salaries and wages (117,859) 62,523
Increase (decrease) in vacation accrual 83,430 (1,064)
Decrease in ESOP payable (75,000) (10,625)
(Decrease) increase in other accrued expenses (160,678) 81,851
Increase (decrease) in payroll and other taxes withheld 278,375 (1,323)
Increase in contract liabilities 562,728 2,785,721
Decrease in income taxes payable (47,707) (30,481)
Net cash provided by operating activities 2,188,300 4,934,111
Cash Flows from Investing Activities:    
Additions to property, plant and equipment (34,337) (210,527)
Purchase of investment securities (4,294,897) (7,981,580)
Proceeds from sale/maturity of investment securities 6,429,064 7,943,837
Net cash provided by (used in) investing activities 2,099,830 (248,270)
Cash Flows from Financing Activities:    
Dividends on common stock (1,201,316) (1,791,094)
Purchase of treasury stock (47,949)
Proceeds from exercise of stock options 81,000
Net cash used in financing activities (1,201,316) (1,758,043)
Increase in cash and cash equivalents 3,086,814 2,927,798
Cash and cash equivalents, beginning of period 5,402,122 1,462,761
Cash and cash equivalents, end of period 8,488,936 4,390,559
Supplemental Schedule of Cash Flow Information:    
Income taxes paid $ 175,250 $ 171,720