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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2019
Jun. 30, 2019
Current Assets:    
Cash and cash equivalents $ 849,135 $ 2,288,426
Accounts receivable (net of allowance for doubtful accounts of $246,201 and $246,953 at September 30, 2019 and June 30, 2019, respectively) 1,645,765 2,165,107
Inventories 2,071,852 1,734,604
Prepaid expenses 181,106 180,336
Total current assets 4,747,858 6,368,473
Fixed Assets:    
Machinery and equipment 2,755,076 2,748,715
Leasehold improvements 683,970 668,446
Furniture and fixtures 168,450 168,450
Total 3,607,496 3,585,611
Less: Accumulated depreciation and amortization 3,225,525 3,202,605
Net fixed assets 381,971 383,006
Operating lease right-to-use asset 158,690 0
Goodwill 60,841 54,087
Patents, net 687,664 687,664
TOTAL ASSETS 6,037,024 7,493,230
Current Liabilities:    
Current portion of capital lease obligation 9,731 9,572
Accounts payable 1,036,188 1,174,263
Customer advances 513,623 450,192
Accrued compensation and other 370,296 533,944
Amount due for business acquisition 0 1,443,341
Operating lease liability 54,310 0
Total current liabilities 1,984,148 3,611,312
Capital lease obligation, net of current portion 2,535 5,027
Acquisition earn out liability 500,000 500,000
Operating lease liability 104,380 0
Stockholders' Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding ? 12,868,639 shares at September 30, 2019 and 12,071,139 shares at June 30, 2019 128,687 120,712
Additional paid-in capital 49,040,377 48,893,172
Accumulated deficit (45,723,103) (45,636,993)
Total stockholders' equity 3,445,961 3,376,891
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,037,024 $ 7,493,230