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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2020
Jun. 30, 2019
Current Assets:    
Cash and cash equivalents $ 7,559,700 $ 1,602,500
Investment securities 331,800 330,900
Trade accounts receivable, less allowance for doubtful accounts of $11,600 and $15,000 respectively 1,064,000 1,974,200
Inventories 2,884,700 2,592,300
Income tax receivable 334,800 0
Prepaid expenses and other current assets 112,300 91,200
Total current assets 12,287,300 6,591,100
Property and equipment, net 279,700 318,800
Intangible assets, net 128,700 175,000
Goodwill 705,300 705,300
Operating lease right-of-use assets 803,300 0
Other assets 56,000 54,700
Deferred taxes 537,100 431,100
Total assets 14,797,400 8,276,000
Current Liabilities:    
Accounts payable 354,700 569,000
Accrued expenses and taxes 799,700 608,300
Contract liabilities 89,000 0
Contingent consideration, current portion 111,000 268,000
Bank overdraft 43,100 140,000
Operating lease liabilities, current portion 226,900 0
Payroll Protection Program loan 563,800 0
Total current liabilities 2,188,200 1,585,300
Operating lease liabilities, less current portion 640,800 0
Contingent consideration payable, less current portion 247,000 350,000
Total liabilities 3,076,000 1,935,300
Stockholders' equity:    
Common stock, $.05 par value; 7,000,000 shares authorized; 2,881,065 and 1,513,914 shares issued; 2,861,263 and 1,494,112 shares outstanding in 2020 and 2019, respectively 144,100 75,700
Additional paid-in capital 8,608,300 2,592,700
Retained earnings 3,021,400 3,724,700
Total 11,773,800 6,393,100
Less common stock held in treasury at cost, 19,802 shares 52,400 52,400
Total stockholders' equity 11,721,400 6,340,700
Total liabilities and stockholders' equity $ 14,797,400 $ 8,276,000