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Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities:    
Net income $ 3,921,844 $ 2,781,596
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 206,575 164,752
Depreciation 343,825 363,945
ESOP compensation expense 311,664 256,032
Deferred income tax benefit (916,006) (31,185)
Loss (Gain) on disposal of property, plant and equipment 590 (2,500)
Changes in assets and liabilities:    
Decrease in trade accounts receivable 439,862 1,402,789
Decrease in income taxes receivable 35,666
Decrease (increase) in inventories 278,237 (128,088)
Decrease (increase) in prepaid expenses and other current assets 728,069 (1,482,949)
Increase in accounts payable 1,623,255 819,675
Decrease in accrued salaries and wages (178,004) (85,007)
(Decrease) increase in vacation accrual (119,481) 85,508
Decrease in ESOP payable (110,982) (25,629)
Increase (decrease) in other accrued expenses 437,611 (476,192)
Increase in payroll and other taxes withheld 4,549 1,956
(Decrease) increase in contract liabilities (375,829) 3,181,714
Increase in income taxes payable 719,217 238,020
Net cash provided by operating activities 7,350,662 7,064,437
Cash Flows from Investing Activities:    
Additions to property, plant and equipment (4,501,997) (178,513)
Proceeds from grant award 4,228,722
Proceeds from sale of property, plant and equipment 150 2,500
Purchase of investment securities (18,442,671) (14,335,777)
Proceeds from sale/maturity of investment securities 14,846,438 4,166,774
Net cash used in investing activities (3,869,358) (10,345,016)
Cash Flows from Financing Activities:    
Dividends on common stock (1,178,008) (244,635)
Proceeds from exercise of stock options 504,213
Net cash used in financing activities (673,795) (244,635)
Increase (decrease) in cash and cash equivalents 2,807,509 (3,525,214)
Cash and cash equivalents, beginning of period 2,748,755 8,104,060
Cash and cash equivalents, end of period 5,556,264 4,578,846
Supplemental Schedule of Cash Flow Information:    
Income taxes paid $ 1,162,000 $ 561,500