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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2020
Jun. 30, 2020
Current Assets:    
Cash and cash equivalents $ 900,510 $ 1,134,697
Accounts receivable (net of allowance for doubtful accounts of $249,200 at September 30, 2020 and $248,450 at June 30, 2020) 1,585,001 1,481,437
Inventories 2,138,390 2,197,244
Prepaid expenses 112,015 133,707
Total current assets 4,735,916 4,947,085
Fixed Assets:    
Machinery and equipment 2,915,847 2,907,533
Leasehold improvements 754,438 731,801
Furniture and fixtures 178,640 178,640
Total 3,848,925 3,817,974
Less: Accumulated depreciation and amortization 3,349,910 3,314,824
Net Fixed Assets 499,015 503,150
Operating lease right-to-use asset 104,380 118,403
Patents, net 104,887 95,229
Goodwill 687,664 687,664
TOTAL ASSETS 6,131,862 6,351,531
Current Liabilities:    
Current portion of capital lease obligation 33,047 51,761
Current portion of acquisition earn out liability 166,667 166,667
Note payable to bank 808,962 808,962
Accounts payable 1,022,803 1,066,005
Customer advances 206,665 417,059
Accrued compensation and other 578,723 581,770
Current portion of operating lease liability 58,136 57,156
Total current liabilities 2,875,003 3,149,380
Capital lease obligation, net of current portion 33,582 35,810
Acquisition earn out liability 333,333 333,333
Operating lease liability, net of current portion 46,244 61,247
Stockholders' Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding - 13,191,789 shares at September 30, 2020 and June 30, 2020 131,918 131,918
Additional paid-in capital 49,774,132 49,702,986
Accumulated deficit (47,062,350) (47,063,143)
Total stockholders' equity 2,843,700 2,771,761
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,131,862 $ 6,351,531