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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2019
Jun. 30, 2018
Current Assets:    
Cash and cash equivalents $ 2,288,426 $ 402,738
Accounts receivable (net of allowance for doubtful accounts of $246,953 at June 30, 2019 and $232,500 at June 30, 2018) 2,165,107 796,923
Inventories 1,734,604 1,144,068
Prepaid expenses 180,336 70,991
Total current assets 6,368,473 2,414,720
Fixed Assets:    
Machinery and equipment 2,748,715 2,511,638
Leasehold improvements 668,446 553,596
Furniture and fixtures 168,450 148,303
Total 3,585,611 3,213,537
Less: Accumulated depreciation and amortization 3,202,605 3,164,051
Net fixed assets 383,006 49,486
Patents, net 54,087 47,275
Goodwill 687,664 0
TOTAL ASSETS 7,493,230 2,511,481
Current Liabilities:    
Current portion of capital lease obligation 9,572 8,962
Accounts payable 1,174,263 703,538
Customer advances 450,192 857,842
Accrued compensation and other 533,944 362,502
Amount due for business acquisition 1,443,341 0
Total current liabilities 3,611,312 1,932,844
Capital lease obligation, net of current portion 5,027 14,601
Acquisition earn out liability 500,000 0
Stockholders' Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding ? 12,071,139 shares at June 30, 2019 and 10,197,139 shares at June 30, 2018 120,712 101,972
Additional paid-in capital 48,893,172 45,484,186
Accumulated deficit (45,636,993) (45,022,122)
Total stockholders' equity 3,376,891 564,036
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,493,230 $ 2,511,481