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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Jun. 30, 2020
Jun. 30, 2019
Operating activities:        
Net income (loss) $ (2,311,400) $ (367,200) $ (703,300) $ 645,600
Adjustments to reconcile net income to net cash provided by operating activities:        
(Gain) loss on sale of investment securities (34,600) (4,000) (4,400) 13,200
Depreciation and amortization 126,700 123,300 160,900 257,300
Deferred income tax (benefit) expense (652,300) (82,100) (106,000) (38,500)
Unrealized holding (gain) loss on investment securities 18,900 42,700 12,400 (3,000)
Loss on disposal of subsidiary 405,400 0 0 0
Bad debt recovery 0 0 3,400 0
Gain on sale of fixed assets 0 (300) (300) 0
Stock-based compensation 1,429,400 50,000 65,800 46,800
Change in fair value of contingent consideration (118,500) 60,000 112,600 521,200
Changes in operating assets and liabilities:        
Trade accounts receivable (758,500) (210,000) 906,800 (6,500)
Inventories (697,700) (452,500) (292,400) (324,400)
Income tax receivable (1,500) 0 (334,800) 0
Prepaid expenses and other assets 57,400 9,500 (22,400) (60,100)
Right-of-use assets 87,700 (867,400) (803,300) 0
Accounts payable 142,600 (117,100) (214,400) 141,000
Lease liabilities (51,000) 933,300 867,700 0
Accrued expenses and taxes (222,600) (38,100) 191,500 (109,300)
Contract liabilities (20,000) 116,100 89,000 (63,800)
Bank overdraft 7,500 0 (96,900) 140,000
Total adjustments (281,100) (436,600) 535,200 513,900
Net cash (used in) provided by operating activities (2,592,500) (803,800) (168,100) 1,159,500
Investing activities:        
Purchase of investment securities (6,609,200) (62,800) (63,400) (157,900)
Redemption of investment securities 1,631,000 53,600 55,000 151,900
Proceeds from sale of discontinued operations 440,000 0 0 0
Proceeds from sale of fixed assets 0 1,000 1,000 0
Capital expenditures (183,700) (38,100) (50,900) (187,800)
Purchase of other intangible assets (41,200) (20,000) (25,800) (24,600)
Net cash used in investing activities (4,763,100) (66,300) (84,100) (218,400)
Financing activities:        
Principal payments on note payable 0 0 0 (5,800)
Cash dividend declared and paid 0 0 0 (74,700)
Proceeds from Payroll Protection Program loan 433,800 0 563,800 0
Line of credit proceeds 0 0 0 50,000
Issuance of common stock and warrants, net of issuance costs 0 0 6,004,400 0
Line of credit repayments 0 0 0 (50,000)
Proceeds from exercise of stock options 3,000 7,000 13,800 0
Payments for contingent consideration (13,400) 0 (372,600) (311,200)
Net cash provided by (used in) financing activities 423,400 7,000 6,209,400 (391,700)
Net increase in cash and cash equivalents (6,932,200) (863,100) 5,957,200 549,400
Cash and cash equivalents, beginning of year 7,559,700 1,602,500 1,602,500 1,053,100
Cash and cash equivalents, end of year 627,500 739,400 7,559,700 1,602,500
Cash paid during the period for:        
Income Taxes 2,500 40,900 40,900 56,700
Interest $ 0 $ 0 $ 0 $ 1,500