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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income (loss) $ (703,300) $ 645,600
Adjustments to reconcile net income to net cash provided by operating activities:    
(Gain) loss on sale of investment securities (4,400) 13,200
Depreciation and amortization 160,900 257,300
Deferred income tax (benefit) expense (106,000) (38,500)
Unrealized holding (gain) loss on investment securities 12,400 (3,000)
Bad debt recovery 3,400 0
Gain on sale of fixed assets (300) 0
Stock-based compensation 65,800 46,800
Change in fair value of contingent consideration 112,600 521,200
Changes in operating assets and liabilities:    
Trade accounts receivable 906,800 (6,500)
Inventories (292,400) (324,400)
Income tax receivable (334,800) 0
Prepaid expenses and other assets (22,400) (60,100)
Right-of-use assets (803,300) 0
Accounts payable (214,400) 141,000
Lease liabilities 867,700 0
Accrued expenses and taxes 191,500 (109,300)
Contract liabilities 89,000 (63,800)
Bank overdraft (96,900) 140,000
Total adjustments 535,200 513,900
Net cash (used in) provided by operating activities (168,100) 1,159,500
Investing activities:    
Purchase of investment securities (63,400) (157,900)
Redemption of investment securities 55,000 151,900
Proceeds from sale of fixed assets 1,000 0
Capital expenditures (50,900) (187,800)
Purchase of other intangible assets (25,800) (24,600)
Net cash used in investing activities (84,100) (218,400)
Financing activities:    
Principal payments on note payable 0 (5,800)
Cash dividend declared and paid 0 (74,700)
Proceeds from Payroll Protection Program loan 563,800 0
Line of credit proceeds 0 50,000
Issuance of common stock and warrants, net of issuance costs 6,004,400 0
Line of credit repayments 0 (50,000)
Proceeds from exercise of stock options 13,800 0
Payments for contingent consideration (372,600) (311,200)
Net cash provided by (used in) financing activities 6,209,400 (391,700)
Net increase in cash and cash equivalents 5,957,200 549,400
Cash and cash equivalents, beginning of year 1,602,500 1,053,100
Cash and cash equivalents, end of year 7,559,700 1,602,500
Cash paid during the period for:    
Income Taxes 40,900 56,700
Interest $ 0 $ 1,500