Investment Securities

12 Months Ended

Jun. 30, 2024

Investment Securities [Abstract]

Investment Securities

Note 4. Investment Securities

Investment securities at June 30, 2024 consist of certificates of deposit, municipal bonds and U.S. treasury bills and at June 30, 2023, consisted of certificates of deposit, municipal bonds and U.S. treasury bills. The Company classifies investment securities as available-for-sale which have been determined to be level 1 assets. The cost, gross unrealized gains, gross unrealized losses and fair value debt securities by major security type at June 30, 2024 and June 30, 2023 are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
June 30, 2024
Certificates of deposit	$	17,651,000	$	—	$	—		$	17,651,000
Municipal bonds		709,059		5,824		(3,313	)		711,570
U.S. Treasury bills		510,288		5,773		—			516,061
Total investment securities	$	18,870,347	$	11,597	$	(3,313	)	$	18,878,631

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
June 30, 2023
Certificates of deposit	$	11,280,000	$	—	$	—		$	11,280,000
Municipal bonds		260,475		165		(7,843	)		252,797
U.S. Treasury Bills		430,952		1,225		(301	)		431,876
Total investment securities	$	11,971,427	$	1,390	$	(8,144	)	$	11,964,673

The portfolio is diversified and highly liquid and primarily consists of investment grade fixed income instruments. At June 30, 2024, the Company did not have any investments in individual securities that have been in a continuous loss position considered to be other than temporary.

As of June 30, 2024 and June 30, 2023, the remaining contractual maturities of available-for-sale debt securities were as follows:

	Years to Maturity
	Less than		One to
	One Year		Five Years		Total
June 30, 2024
Available-for-sale	$	17,889,582	$	989,049	$	18,878,631
June 30, 2023
Available-for-sale	$	11,711,876	$	252,797	$	11,964,673