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Balance Sheets - USD ($)
Mar. 31, 2025
Jun. 30, 2024
ASSETS    
Cash and cash equivalents $ 13,859,462 $ 4,351,970
Investment securities 24,635,038 18,878,631
Trade accounts receivable, less allowance for credit losses of $3,000 6,407,177 6,635,490
Inventories:    
Raw materials 1,859,193 1,693,448
Work-in-process 554,820 1,645,973
Costs related to contracts in process 14,174,050 15,904,588
Total inventories 16,588,063 19,244,009
Net deferred tax assets 923,934 895,154
Prepaid expenses and other current assets 4,945,190 3,231,402
Total current assets 67,358,864 53,236,656
Property, plant and equipment, net 5,480,631 3,306,275
Total assets 72,839,495 56,542,931
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable 2,075,635 3,751,209
Accrued expenses:    
Salaries and wages 850,695 928,163
Vacation 593,723 511,144
ESOP payable 276,683
Other 1,359,315 757,552
Payroll and other taxes withheld 63,357 56,862
Contract liabilities 21,018,310 9,043,422
Income taxes payable 277,030 220,607
Total current liabilities 26,514,748 15,268,959
Total liabilities 26,514,748 15,268,959
Commitments and contingencies (See Note 5)
Authorized 10,000,000 shares; Issued 3,129,874 shares as of March 31, 2025 and June 30, 2024. Outstanding 2,816,558 and 2,733,958 shares as of March 31, 2025 and June 30, 2024, respectively (includes 195,234 and 211,487 Unearned ESOP shares, respectively) 1,043,291 1,043,291
Capital in excess of par value 25,172,305 23,930,428
Accumulated other comprehensive gain 6,731 6,544
Retained earnings 29,287,337 26,004,790
Total stockholders equity before ESOP 55,509,664 50,985,053
Less: Unearned ESOP shares (3,868,093) (3,868,093)
Cost of 313,316 and 395,916 shares of common stock in treasury as of March 31, 2025 and June 30, 2024, respectively (5,316,824) (5,842,988)
Total stockholders’ equity 46,324,747 41,273,972
Total liabilities and stockholders' equity $ 72,839,495 $ 56,542,931