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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Dec. 31, 2023
Jun. 30, 2023
Current Assets:    
Cash and cash equivalents $ 987,044 $ 2,925,852
Accounts receivable, net of allowance for doubtful accounts of $731,256 at December 31, 2023 and $606,715 at June 30, 2023 3,511,544 3,907,407
Inventories 3,099,986 2,776,216
Prepaid expenses 234,121 249,681
Total current assets 7,832,695 9,859,156
Fixed Assets:    
Machinery and equipment 3,253,746 3,227,481
Leasehold improvements 832,305 825,752
Furniture and fixtures 362,287 242,865
Total fixed assets 4,448,338 4,296,098
Less—Accumulated depreciation and amortization 3,966,839 3,862,578
Net fixed assets 481,499 433,520
Operating lease right-to-use asset 275,329 358,437
Patents, net 283,643 265,111
Goodwill 8,824,210 8,824,210
TOTAL ASSETS 17,697,376 19,740,434
Current Liabilities:    
Current portion of capital lease obligation 44,519 43,209
Current maturities of long-term debt 513,259 513,259
Accounts payable 1,675,742 2,432,264
Customer advances 1,158,242 1,174,690
Accrued compensation and other 747,793 927,521
Operating lease liability 173,503 168,677
Total current liabilities 4,313,058 5,259,620
Capital lease obligation, net of current portion 45,890 68,482
Long-term debt, net of current maturities and debt issuance costs 1,919,350 2,175,980
Operating lease liability, net of current portion 101,826 189,760
Stockholders’ Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding – 6,067,518 shares at December 31, 2023 and 6,066,518 at June 30, 2023 60,675 60,665
Additional paid-in capital 60,718,801 60,224,934
Accumulated deficit (49,462,224) (48,239,007)
Total stockholders’ equity 11,317,252 12,046,592
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 17,697,376 $ 19,740,434