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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net income $ 1,268,409 $ 493,594
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
(Recovery of) doubtful accounts of accounts receivable (35,305) (9,226)
Depreciation of equipment and leasehold improvements 293,465 302,616
Stock-based compensation expense 463,633 619,137
Change in cash surrender value of life insurance (211,636) (208,116)
(Benefit) provision for deferred compensation (160,120) 308,000
Deferred compensation paid (71,250) (150,000)
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 429,470 85,505
Inventories (2,729,850) (362,718)
Prepaid expenses and other current assets 267,526 (188,357)
Income taxes receivable   14,622
Income taxes payable (1,510) 4,543
Accounts payable 397,730 (429,272)
Accrued liabilities 44,789 85,468
Deferred revenue (170,463) 289,644
Net cash (used in) provided by operating activities (942,530) 348,740
Investing activities:    
Purchase of equipment and leasehold improvements (108,158) (600,155)
Life insurance premiums paid (95,887) (104,051)
Proceeds from life insurance policy 2,014,184  
Net cash provided by (used in) investing activities 1,810,139 (704,206)
Financing activities:    
Proceeds from exercise of stock options 1,390,346 3,306,272
Net cash provided by financing activities 1,390,346 3,306,272
Net increase in cash and cash equivalents 2,257,955 2,950,806
Cash and cash equivalents at beginning of year 6,950,215 3,999,409
Cash and cash equivalents at end of year $ 9,208,170 $ 6,950,215