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Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Jun. 30, 2020
Current Assets:    
Cash and cash equivalents $ 861,650 $ 1,134,697
Accounts receivable (net of allowance for doubtful accounts of $251,383 at June 30, 2021 and $248,450 at June 30, 2020) 1,878,755 1,481,437
Inventories 1,885,395 2,197,244
Prepaid expenses 150,635 133,707
Total current assets 4,776,435 4,947,085
Fixed Assets:    
Machinery and equipment 3,084,511 2,907,533
Leasehold improvements 792,723 731,801
Furniture and fixtures 178,640 178,640
Total 4,055,874 3,817,974
Less: Accumulated depreciation and amortization 3,461,622 3,314,824
Net fixed assets 594,252 503,150
Operating lease right-to-use asset 61,247 118,403
Patents, net 141,702 95,229
Goodwill 687,664 687,664
TOTAL ASSETS 6,261,300 6,351,531
Current Liabilities:    
Current portion of capital lease obligation 38,347 51,761
Current portion of acquisition earn out liability 166,667 166,667
Note payable to bank 0 808,962
Accounts payable 1,205,149 1,066,005
Customer advances 450,084 417,059
Accrued compensation and other 589,616 581,770
Operating lease liability 61,247 57,156
Total current liabilities 2,511,110 3,149,380
Capital lease obligation, net of current portion 152,397 35,810
Acquisition earn out liability 166,666 333,333
Operating lease liability 0 61,247
Stockholders' Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding - 13,282,476 shares at June 30, 2021 and 13,191,789 shares at June 30, 2020 132,825 131,918
Additional paid-in capital 50,464,280 49,702,986
Accumulated deficit (47,165,978) (47,063,143)
Total stockholders' equity 3,431,127 2,771,761
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,261,300 $ 6,351,531