SEGMENT AND RELATED INFORMATION

12 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

SEGMENT AND RELATED INFORMATION

NOTE 16 - SEGMENT AND RELATED INFORMATION

The Company provides segment data in accordance with the provisions of ASC 280, “Disclosures about Segments of an Enterprise and Related Information”.

The Company operates in two industry segments - manufacturing and the servicing of medical equipment and management of diagnostic imaging centers.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. All intersegment sales are market-based. The Company evaluates performance based on income or loss from operations.

Summarized financial information concerning the Company’s reportable segments is shown in the following table:

Summarized Segment Financial Information 

	Manufacturing and Servicing of Medical			Management of Diagnostic Imaging
Fiscal 2023:	Equipment			Center		Totals
Net revenues from external customers	$	8,260,711		$	90,384,390	$	98,645,101
Intersegment net revenues *	$	985,833		$	—	$	985,833
(Loss) Income from operations	$	(5,875,126	)	$	20,664,388	$	14,789,262
Depreciation and amortization	$	263,720		$	4,276,415	$	4,540,135
Total identifiable assets	$	30,892,807		$	170,153,612	$	201,046,419
Capital expenditures	$	119,571		$	4,218,084	$	4,337,655
Fiscal 2022:
Net revenues from external customers	$	8,218,804		$	89,373,341	$	97,592,145
Intersegment net revenues *	$	965,417		$	—	$	965,417
(Loss) Income from operations	$	(4,604,305	)	$	26,611,487	$	22,007,182
Depreciation and amortization	$	263,559		$	4,271,677	$	4,535,236
Total identifiable assets	$	30,182,037		$	169,159,945	$	199,341,982
Capital expenditures	$	258,271		$	4,374,903	$	4,633,174

* Amounts eliminated in consolidation 

Export Product Sales

The Company’s areas of operations are principally in the United States. The Company had export sales of medical equipment amounting to 14.1% and 48.9% of product sales revenues to third parties for the years ended June 30, 2023 and 2022, respectively.

The foreign product sales, as a percentage of product sales to unrelated parties, were made to customers in the following countries: 

	For the Years Ended June 30,
	2023			2022
Dominican Republic		—			12.0	%
Canada		8.5	%		0.6	%
Germany		4.9	%		—
United Arab Emirates		0.7	%		—
Puerto Rico		—			36.3	%
		14.1	%		48.9	%

Foreign Service and Repair Fees

The Company’s areas of service and repair are principally in the United States. The Company had foreign revenues of service and repair of medical equipment amounting to 6.4% and 4.4% of consolidated net service and repair fees for the years ended June 30, 2023 and 2022 respectively. Foreign service and repair fees, as a percentage of total service and repair fees, were provided principally to the following countries:

Foreign Service Repair Fees  

	For the Years Ended June 30,
	2023		2022
Puerto Rico	1.5	%	1.5	%
Switzerland	0.3		0.3
Germany	1.6		1.6
England	0.6		0.6
United Arab Emirates	0.1		—
Dominican Republic	0.5		—
Canada	0.6		—
Greece	0.3		0.3
Australia	0.9		0.1
	6.4	%	4.4	%

The Company does not have any material assets outside of the United States.