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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
[1]
Operating activities:    
Net (loss) income $ (623,835) $ 282,599 [2],[3]
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
(Recovery of) provision for doubtful accounts (8,938) 4,039
Depreciation of equipment and leasehold improvements 258,401 336,946
Stock-based compensation expense 428,228 383,425
Deferred income taxes 13,276 (13,277)
Change in cash surrender value of life insurance (156,398) (34,801)
Change in deferred compensation accrual 37,016 131,965
Deferred compensation paid (112,500) (112,500)
Net changes in operating assets and liabilities:    
Accounts receivable 110,705 1,893,559
Inventories 1,859,887 (590,987)
Prepaid expenses and other current assets (254,612) (68,539)
Income taxes receivable 35,426 (9,776)
Accounts payable (1,027,292) (222,292)
Accrued liabilities (15,616) (47,835)
Deferred revenue (203,960) (96,118)
Net cash provided by operating activities 339,788 1,836,408
Investing activities:    
Purchase of equipment and leasehold improvements (391,151) (118,647)
Life insurance premiums paid (112,956) (123,076)
Net cash (used in) investing activities (504,107) (241,723)
Financing activities:    
Proceeds from exercise of stock options 46,677
Net cash provided by financing activities 46,677
Net (decrease) increase in cash and cash equivalents (164,319) 1,641,362
Cash and cash equivalents at beginning of period 2,228,282 [4] 1,081,533
Cash and cash equivalents at end of period $ 2,063,963 $ 2,722,895
[1] As adjusted for change in accounting principle (Note 2)
[2] As adjusted for change in accounting principle (Note 2)
[3] As adjusted for change in accounting principle (Note 2)
[4] As adjusted for change in accounting principle (Note 2)