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Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:    
Net income $ 2,889,914 $ 1,914,308
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 131,155 103,177
Depreciation 233,526 242,357
ESOP compensation expense 183,364 155,477
Deferred income tax benefit (212,848) (7,889)
Gain on disposal of property, plant and equipment (150) (2,500)
Changes in assets and liabilities:    
(Increase) decrease in trade accounts receivable (205,985) 1,123,730
Decrease in income taxes receivable 35,666
Decrease (increase) in inventories 2,027,322 (210,057)
Decrease (increase) in prepaid expenses and other current assets 385,089 (1,168,686)
Increase in accounts payable 892,011 826,214
Decrease in accrued salaries and wages (382,530) (226,885)
(Decrease) increase in vacation accrual (163,645) 20,585
Decrease in ESOP payable (70,093)
Increase (decrease) in other accrued expenses 436,356 (217,945)
(Decrease) increase in payroll and other taxes withheld (11,786) 2,123
(Decrease) increase in contract liabilities (457,836) 1,901,599
Increase in income taxes payable 229,625 227,842
Net cash provided by operating activities 5,939,155 4,683,450
Cash Flows from Investing Activities:    
Additions to property, plant and equipment (3,469,630) (103,885)
Proceeds from grant award 968,722
Proceeds from sale of property, plant and equipment 150 2,500
Purchase of investment securities (13,410,242) (8,515,017)
Proceeds from sale/maturity of investment securities 11,508,438 2,157,334
Net cash used in investing activities (4,402,562) (6,459,068)
Cash Flows from Financing Activities:    
Dividends on common stock (741,895)
Proceeds from exercise of stock options 59,480
Net cash used in financing activities (682,415)
Increase (decrease) in cash and cash equivalents 854,178 (1,775,618)
Cash and cash equivalents, beginning of period 2,748,755 8,104,060
Cash and cash equivalents, end of period 3,602,933 6,328,442
Supplemental Schedule of Cash Flow Information:    
Income taxes paid $ 702,000 $ 311,000