XML 33 R22.htm IDEA: XBRL DOCUMENT v3.26.1
Significant Accounting Policies (Tables)
9 Months Ended
Mar. 31, 2026
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]
The Company used the two-class method to compute net income per common share. These participating securities included the Company’s convertible preferred stock which accrues dividends payable. The two-class method requires earnings for the period to be allocated between common stock and participating securities based upon their respective rights to receive distributed and undistributed earnings.

Under the two-class method, for periods with net income, basic net income per common share is computed by dividing the net income attributable to common stockholders by the weighted average number of shares of common stock outstanding during
the period. Net income attributable to common stockholders is computed by subtracting from net income the portion of current period earnings that the participating securities would have been entitled to receive pursuant to their dividend rights had all of the period’s earnings been distributed. No such adjustment to earnings is made during periods with a net loss, as the holders of the participating securities have no obligation to fund losses.

Diluted net income per common share is computed under the two-class method by using the weighted average number of shares of common stock outstanding, plus, for periods with net income attributable to common stockholders, the potential dilutive effects of stock options. The Company analyzed the potential dilutive effect of any outstanding dilutive securities under the “if-converted” method and treasury-stock method when calculating diluted earnings per share, in which it is assumed that the outstanding participating securities convert into common stock at the beginning of the period or date of issuance, if later. The Company reports the more dilutive of the approaches (two-class or “if-converted”) as its diluted net income per share during the period. Basic earning per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. As of March 31, 2026 and 2025, the average market prices for the three months and nine months then ended are less than the exercise price of all the outstanding stock options and, therefore, the inclusion of the stock options would be anti-dilutive.
For the Three Months Ended March 31,For the Nine Months Ended March 31,
2026202520262025
Numerator:
  Numerator for basic income per share:
Net income $2,373,436 $271,472 $2,231,261 $485,276 
Less undeclared dividends on convertible stocks12,723 12,689 38,735 38,629 
Less net income allocated to convertible preferred stocks1,154,308 123,323 1,072,070 212,849 
Net income applicable to common stockholders$1,206,405 $135,460 $1,120,456 $233,798 
Numerator for diluted earnings per share:
Net income$2,373,436 $271,472 $2,231,261 $485,276 
Undeclared dividends on convertible stocks12,723 12,689 38,735 38,629 
Diluted income $2,360,713 $258,783 $2,192,526 $446,647 
Denominator:
Denominator for basic income per share - weighted average shares outstanding7,415,329 7,415,329 7,415,329 7,415,329 
Weighted average preferred stock converted to common stock7,095,107 6,750,888 7,095,107 6,750,888 
Denominator for diluted earnings per share - weighted average and assumed conversion14,510,436 14,166,217 14,510,436 14,166,217 
Net earnings per share:
Basic net earnings per share$0.16 $0.02 $0.15 $0.03 
Diluted net earnings per share$0.16 $0.02 $0.15 $0.03 
Weighted average shares - basic7,415,329 7,415,329 7,415,329 7,415,329 
Weighted average shares - diluted14,510,436 14,166,217 14,510,436 14,166,217 

The following table summarizes convertible securities that, if exercised would have an anti-dilutive effect on earnings per share.
For the Three Months Ended March 31,For the Nine Months Ended March 31,
2026202520262025
Stock options21,000 21,000 21,00021,000
Total potential dilutive securities not included in income per share21,000 21,000 21,00021,000
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
For the Three Months Ended March 31,For the Nine Months Ended March 31,
2026202520262025
Numerator:
  Numerator for basic income per share:
Net income $2,373,436 $271,472 $2,231,261 $485,276 
Less undeclared dividends on convertible stocks12,723 12,689 38,735 38,629 
Less net income allocated to convertible preferred stocks1,154,308 123,323 1,072,070 212,849 
Net income applicable to common stockholders$1,206,405 $135,460 $1,120,456 $233,798 
Numerator for diluted earnings per share:
Net income$2,373,436 $271,472 $2,231,261 $485,276 
Undeclared dividends on convertible stocks12,723 12,689 38,735 38,629 
Diluted income $2,360,713 $258,783 $2,192,526 $446,647 
Denominator:
Denominator for basic income per share - weighted average shares outstanding7,415,329 7,415,329 7,415,329 7,415,329 
Weighted average preferred stock converted to common stock7,095,107 6,750,888 7,095,107 6,750,888 
Denominator for diluted earnings per share - weighted average and assumed conversion14,510,436 14,166,217 14,510,436 14,166,217 
Net earnings per share:
Basic net earnings per share$0.16 $0.02 $0.15 $0.03 
Diluted net earnings per share$0.16 $0.02 $0.15 $0.03 
Weighted average shares - basic7,415,329 7,415,329 7,415,329 7,415,329 
Weighted average shares - diluted14,510,436 14,166,217 14,510,436 14,166,217 

The following table summarizes convertible securities that, if exercised would have an anti-dilutive effect on earnings per share.
For the Three Months Ended March 31,For the Nine Months Ended March 31,
2026202520262025
Stock options21,000 21,000 21,00021,000
Total potential dilutive securities not included in income per share21,000 21,000 21,00021,000
Schedule of Inventory, Current [Table Text Block]
March 31,June 30,
(in thousands)20262025
Inventories:
        Raw Material$881 $1,121 
        Work-In-Process106 96 
        Finished Goods671 925 
Total inventories$1,658 $2,142 
Deferred Revenue, by Arrangement, Disclosure [Table Text Block]
(in thousands)Three Months Ended March 31,Nine Months ended March 31,
2026202520262025
Beginning of Period$440 $342 $328 $280 
Additions326 316 788 710 
Revenue Recognized(276)(282)(626)(614)
End of Period$490 $376 $490 $376