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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating activities:        
Net loss $ (4,079,400) $ (2,105,300) $ (13,668,100) $ (3,672,500)
Adjustments to reconcile net loss to net cash used in operating activities:        
Provision for bad debt 17,300 0 0 4,000
Extinguishment of debt 0 (433,800) (433,800) (531,000)
Impairment of goodwill and intangible asset 51,500 0 4,280,100 0
Depreciation and amortization 380,800 327,300 688,200 251,500
Stock-based compensation 1,236,700 1,266,400 2,350,600 2,108,000
Loss/(Gain) on sale of investment securities 89,200 (4,000) 32,700 (35,600)
Unrealized holding (gain)/loss on investment securities (18,900) 32,600 233,700 10,400
Change in fair value of contingent consideration 0 (60,000) (42,500) (30,000)
Deferred income taxes 0 (733,300) 2,490,000 (1,152,500)
Loss on disposal of subsidiary 0 0 0 405,400
Changes in operating assets and liabilities:        
Trade accounts receivable 175,600 (50,100) (206,700) (75,500)
Inventories (733,600) (637,900) (1,719,200) (560,000)
Prepaid and other current assets 89,400 (229,700) (207,800) (211,400)
Income tax receivable (300) 267,300 172,200 1,500
Other assets 4,200 (8,200) (8,100) 0
Carrying value of right of use assets 103,800 (1,600) (810,200) 138,000
Accounts payable (191,500) 461,300 652,400 79,600
Accrued expenses and taxes 27,300 (11,100) 180,300 (195,300)
Contract liabilities 106,500 0 29,000 (20,000)
Lease Liabilities 0 (10,900) 807,900 (105,600)
Other long term liabilities (107,600) 0 (10,900) 10,900
Total adjustments (526,200) (220,900) (1,121,100) (937,800)
Net cash used in operating activities (2,849,000) (1,931,000) (5,190,200) (3,580,100)
Investing activities:        
Redemption of investment securities 2,404,200 844,300 2,709,800 6,181,400
Purchase of investment securities (346,200) (4,001,200) (5,634,500) (9,569,000)
Proceeds from sale of Altamira 0 0 0 440,000
Purchase of Aquila, net of cash acquired 0 0 0 (7,679,000)
Capital expenditures (253,000) (163,400) (757,600) (198,700)
Purchase of other intangible assets (1,500) (66,500) (67,000) (58,700)
Net cash provided by (used) in investing activities 1,803,500 (3,386,800) (3,749,300) (10,884,000)
Financing activities:        
Proceeds from issuance of common stock 0 0 3,000,000 17,080,400
Issuance of common stock and warrants 0 0 (272,800) (1,006,400)
Payments of contingent consideration 0 0 (98,800) (168,000)
Proceeds from Payroll Protection Program, net of repayment 0 0 0 401,100
Proceeds from stock options exercised 0 0 0 3,100
Bank overdraft 0 (163,400) (321,700) 278,600
Net cash received in financing activities 0 (163,400) 2,306,700 16,588,800
Effect of changes in foreign currency exchange rates on cash and cash equivalents 1,500 103,000 (71,300) (9,200)
Net (decrease) increase in cash and cash equivalents (1,044,000) (5,378,200) (6,704,100) 2,115,500
Cash and cash equivalents, beginning of period 2,971,100 9,675,200 9,675,200 7,559,700
Cash and cash equivalents, end of period 1,927,100 4,297,000 2,971,100 9,675,200
Cash paid during the period for:        
Income taxes 0 0 0 2,500
Noncash financing activities:        
Record right-of-use assets 104,326 0 1,010,900 0
Record lease liabilities $ 104,642 $ 0 $ 1,010,400 $ 0