Note 5 - Revenue Recognition

9 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

5.

    REVENUE RECOGNITION

The Company disaggregates it's net sales by geographical location as it believes it best depicts how the nature, timing and uncertainty of net sales and cash flows are affected by economic factors. The following table summarizes net sales by geographical location:

	Three Months Ended				Nine Months Ended
	March 31				March 31
	2020		2019		2020		2019
United States	$	4,200,797	$	3,611,654	$	11,785,603	$	10,653,071
Export		588,644		1,248,593		2,577,259		5,403,242
Net Sales	$	4,789,441	$	4,860,247	$	14,362,862	$	16,056,313

Deferred revenue relates primarily to consumer and customer warranties. These constitute future performance obligations and the Company defers revenue related to these future performance obligations. The Company recognized revenue, which was included in the deferred revenue liability at the beginning of the periods, of

$367,198

 and 

$424,574

 

in the

nine

months ended

March 31, 2020

and

2019

, respectively, for performance obligations related to consumer and customer warranties.  The deferred revenue liability was 

$859,370

 and 

$763,252

 as of 

June 30, 2018

 and 

March 31, 2019

, respectively. The Company estimates that the deferred revenue performance obligations are satisfied within

one

to

three

years and therefore uses that same time frame for recognition of the deferred revenue.