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Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities:    
Net income $ 479,610 $ 635,819
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
(Recovery of) provision for doubtful accounts of accounts receivable (35,764) 8,108
Depreciation of equipment and leasehold improvements 161,095 153,559
Stock-based compensation expense 262,785 309,756
Change in cash surrender value of life insurance (168,756) (158,521)
Provision for deferred compensation 167,560 58,000
Deferred compensation paid (71,250) (75,000)
Deferred compensation relieved (472,883)  
Other income - SBA loan forgiveness   (506,700)
Other income - Net gain from life insurance benefits (255,975)  
Net changes in operating assets and liabilities:    
Accounts receivable 818,483 (234,090)
Inventories (1,844,937) (264,220)
Prepaid expenses and other current assets (14,557) (135,479)
Income taxes receivable   4,019
Income taxes payable 2,062  
Accounts payable 467,762 282,535
Accrued liabilities 236,076 474,481
Deferred revenue (112,025) 232,413
Net cash (used in) provided by operating activities (380,714) 784,680
Investing activities:    
Purchase of equipment and leasehold improvements (75,155) (374,558)
Life insurance premiums paid (95,888) (103,730)
Net cash (used in) investing activities (171,043) (478,288)
Financing activities:    
Proceeds from exercise of stock options 1,390,346 88,918
Net cash provided by financing activities 1,390,346 88,918
Net increase in cash and cash equivalents 838,589 395,310
Cash and cash equivalents at beginning of period 6,950,215 3,999,409
Cash and cash equivalents at end of period 7,788,804 $ 4,394,719
Non-cash financing and investing activity:    
Reclassification of cash surrender value of life insurance to life insurance receivable $ 1,751,794