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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net (loss) income $ (840,542) $ 8,579,052
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
(Recovery of) Provision for credit losses (4,105) 40,277
Depreciation of equipment and leasehold improvements 142,046 186,168
Accretion of discount on treasury securities (313,704) (110,632)
Noncash operating lease expense 5,752 6,391
Stock-based compensation expense 119,937 243,688
Change in cash surrender value of life insurance (156,644) (147,012)
Provision for deferred compensation 113,387 62,783
Loss on disposal of fixed assets   2,263
Net changes in operating assets and liabilities:    
Accounts receivable 186,567 570,932
Inventories 1,762,436 1,552,103
Prepaid expenses and other current assets (114,762) (233,792)
Interest receivable (65,425) (56,014)
Income taxes receivable (123,877)  
Income taxes payable (81,956) 247,170
Accounts payable (51,808) (442,850)
Accrued liabilities (440,742) 324,507
Deferred revenue (153,118) (208,308)
Net cash (used in) provided by operating activities (16,558) 10,616,726
Investing activities:    
Purchase of equipment and leasehold improvements (460,960) (68,242)
Life insurance premiums paid (81,744) (87,994)
Proceeds from the maturity of treasury securities 14,331,000  
Purchases of treasury securities (13,985,921) (16,884,358)
Net cash used in investing activities (197,625) (17,040,594)
Financing activities:    
Proceeds from exercise of stock options 35,800 137,330
Net cash provided by financing activities 35,800 137,330
Net (decrease) in cash and cash equivalents (178,383) (6,286,538)
Cash and cash equivalents at beginning of period 3,091,062 9,208,170
Cash and cash equivalents at end of period 2,912,679 2,921,632
Supplemental cash flow information:    
Cash paid for income taxes $ 128,463 $ 216,759