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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2020
Jun. 30, 2019
Current Assets:    
Cash and cash equivalents $ 632,131 $ 2,288,426
Accounts receivable (net of allowance for doubtful accounts of $247,701 and $246,953 at March 31, 2020 and June 30, 2019, respectively) 1,479,077 2,165,107
Inventories 2,167,523 1,734,604
Prepaid expenses 131,279 180,336
Total current assets 4,410,010 6,368,473
Fixed Assets:    
Machinery and equipment 2,905,516 2,748,715
Leasehold improvements 724,680 668,446
Furniture and fixtures 178,640 168,450
Total 3,808,836 3,585,611
Less: Accumulated depreciation and amortization 3,278,054 3,202,605
Net Fixed Assets 530,782 383,006
Operating lease right-to-use asset 132,000
Patents, net 86,908 54,087
Goodwill 687,664 687,664
TOTAL ASSETS 5,847,364 7,493,230
Current Liabilities:    
Current portion of capital lease obligation 70,436 9,572
Accounts payable 1,533,342 1,174,263
Customer advances 310,525 450,192
Accrued compensation and other 483,781 533,944
Amount due for business acquisition 0 1,443,341
Operating lease liability 56,196 0
Total Current Liabilities 2,454,280 3,611,312
Capital lease obligation, net of current portion 38,001 5,027
Acquisition earn out liability 500,000 500,000
Operating lease liability 75,804 0
Stockholders' Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding - 12,991,789 shares at March 31, 2020 and 12,071,139 shares at June 30, 2019 129,918 120,712
Additional paid-in capital 49,389,419 48,893,172
Accumulated deficit (46,740,058) (45,636,993)
Total stockholders' equity 2,779,279 3,376,891
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,847,364 $ 7,493,230