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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income (loss) $ 882,814 $ 161,651
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
(Recovery of) provision for doubtful accounts of accounts receivable (35,216) (171)
Depreciation of equipment and leasehold improvements 225,130 222,998
Stock-based compensation expense 382,010 464,032
Change in cash surrender value of life insurance (171,688) (169,963)
Provision for deferred compensation 187,560 173,000
Deferred compensation paid (71,250) (112,500)
Deferred compensation relieved (472,883)  
Other income - SBA loan forgiveness   (506,700)
Other income - Net gain from life insurance benefits (262,391)  
Loss on disposal of fixed assets 7,856  
Net changes in operating assets and liabilities:    
Accounts receivable (40,328) 355,531
Inventories (1,849,288) (1,318,377)
Prepaid expenses and other current assets (4,945) (212,482)
Income taxes payable (163) 4,068
Accounts payable 376,050 122,598
Accrued liabilities 290,977 230,915
Deferred revenue (117,140) 150,041
Net cash provided by operating activities (672,895) (435,359)
Investing activities:    
Purchase of equipment and leasehold improvements (98,028) (546,664)
Life insurance premiums paid (95,887) (103,891)
Proceeds from life insurance policy 2,014,184  
Net cash provided by (used in) investing activities 1,820,269 (650,555)
Financing activities:    
Proceeds from exercise of stock options 1,390,346 3,115,457
Net cash provided by financing activities 1,390,346 3,115,457
Net increase in cash and cash equivalents 2,537,720 2,029,543
Cash and cash equivalents at beginning of period 6,950,215 3,999,409
Cash and cash equivalents at end of period $ 9,487,935 $ 6,028,952