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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Dec. 31, 2020
Jun. 30, 2020
Current Assets:    
Cash and cash equivalents $ 816,263 $ 1,134,697
Accounts receivable (net of allowance for doubtful accounts of $249,883 at December 31, 2020 and $248,450 at June 30, 2020) 1,590,867 1,481,437
Inventories 1,945,066 2,197,244
Prepaid expenses 146,619 133,707
Total current assets 4,498,815 4,947,085
Fixed Assets:    
Machinery and equipment 2,915,847 2,907,533
Leasehold improvements 759,281 731,801
Furniture and fixtures 178,640 178,640
Total 3,853,768 3,817,974
Less: Accumulated depreciation and amortization 3,385,552 3,314,824
Net Fixed Assets 468,216 503,150
Operating lease right-to-use asset 90,181 118,403
Patents, net 118,468 95,229
Goodwill 687,664 687,664
TOTAL ASSETS 5,863,344 6,351,531
Current Liabilities:    
Current portion of capital lease obligation 14,293 51,761
Current portion of acquisition earn out liability 166,667 166,667
Note payable to bank 808,962 808,962
Accounts payable 997,125 1,066,005
Customer advances 151,877 417,059
Accrued compensation and other 482,264 581,770
Current portion of operating lease liability 59,127 57,156
Total current liabilities 2,680,315 3,149,380
Capital lease obligation, net of current portion 31,317 35,810
Acquisition earn out liability 333,333 333,333
Operating lease liability, net of current portion 31,054 61,247
Stockholders' Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding - 13,191,789 shares at December 31, 2020 and June 30, 2020 131,918 131,918
Additional paid-in capital 49,931,211 49,702,986
Accumulated deficit (47,275,804) (47,063,143)
Total stockholders' equity 2,787,325 2,771,761
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,863,344 $ 6,351,531