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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Dec. 31, 2021
Jun. 30, 2021
Current Assets:    
Cash and cash equivalents $ 1,263,198 $ 861,650
Accounts receivable, net of allowance for doubtful accounts of $252,883 at December 31, 2021 and $251,383 at June 30, 2021 2,216,061 1,878,755
Inventories 2,503,392 1,885,395
Due from related party 84,210 0
Prepaid expenses 298,855 150,635
Total current assets 6,365,716 4,776,435
Fixed Assets:    
Machinery and equipment 3,186,303 3,084,511
Leasehold improvements 797,331 792,723
Furniture and fixtures 211,722 178,640
Total Fixed Assets 4,195,356 4,055,874
Less: Accumulated depreciation and amortization 3,551,294 3,461,622
Net fixed assets 644,062 594,252
Operating lease right-to-use asset 31,054 61,247
Patents, net 198,705 141,702
Goodwill 9,649,210 687,664
TOTAL ASSETS 16,888,747 6,261,300
Current Liabilities:    
Current portion of capital lease obligation 39,508 38,347
Current maturities of long-term debt 367,714 0
Current portion of acquisition earn out liability 889,948 166,667
Accounts payable 1,252,751 1,205,149
Customer advances 1,137,470 450,084
Accrued compensation and other 847,869 589,616
Operating lease liability 31,054 61,247
Total current liabilities 4,566,314 2,511,110
Capital lease obligation, net of current portion 132,357 152,397
Long-term debt, net of current maturities 2,145,000 0
Acquisition earn out liability, net of current portion 855,591 166,666
Stockholders’ Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding 16,746,696 shares at December 31, 2021 and 13,282,476 at June 30, 2021 167,467 132,825
Additional paid-in capital 57,271,810 50,464,280
Accumulated deficit (48,249,792) (47,165,978)
Total stockholders’ equity 9,189,485 3,431,127
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 16,888,747 $ 6,261,300