Quaterly financial data (Unaudited) (Tables)

6 Months Ended

Dec. 31, 2022

Quarterly Financial Data (Unaudited)

Schedule Of Condensed Consolidated Balance sheet

	As of September, 30, 2022
	As Filed			Effect of Restatement			As Restated
ASSETS
Cash and cash equivalents	$	2,437,700		$			$	2,437,700
Investment securities		5,298,600						5,298,600
Trade accounts receivable, less allowance for doubtful accounts of $15,600 at September 30, 2022 and June 30, 2022		1,141,300						1,141,300
Inventories		4,956,200						4,956,200
Income tax receivable		161,400						161,400
Prepaid expenses and other current assets		510,400						510,400
Assets of discontinued operations		-						-
Total current assets		14,505,600						14,505,600
								-
Property and equipment, net		1,066,200						1,066,200
Goodwill		4,395,400			(4,280,100	)		115,300
Other intangible assets, net		1,943,600						1,943,600
Deferred taxes		4,160,800			(4,160,800	)		-
Operating lease right-of-use assets		1,442,100						1,442,100
Other assets		62,400						62,400
								-
Total assets	$	27,576,100		$	(8,440,900	)	$	19,135,200
								-
LIABILITIES AND SHAREHOLDERS’ EQUITY								-
Current liabilities:								-
Accounts payable	$	452,800		$			$	452,800
Accrued expenses		762,500						762,500
Deferred Revenue		-						-
Contingent consideration		-						-
Bank overdraft		84,000						84,000
Lease liabilities, current portion		284,400						284,400
Finance Lease liabilities, current portion		-						-
Paycheck Protection Program loan		-						-
Liabilities of discontinued operations		-						-
Total current liabilities		1,583,700						1,583,700
								-
Contingent consideration payable, less current portion		-						-
Lease liabilities, less current portion		1,218,700						1,218,700
Other long-term liabilities		-						-
								-
Total liabilities		2,802,400						2,802,400
								-
Shareholders’ equity:								-
Common stock, $.05 par value; 20,000,000 and 15,000,000 shares authorized; 7,023,401 and 6,477,945 shares issued; 7,003,599 and 6,458,143 shares outstanding at September 30, 2022 and June 30, 2022		351,200						351,200
Additional paid-in capital		32,282,200						32,282,200
Accumulated comprehensive loss		(219,800	)					(219,800	)
Accumulated deficit		(7,587,500	)		(8,440,900	)		(16,028,400	)
		24,826,100			(8,440,900	)		16,385,200
Less common stock held in treasury at cost, 19,802 shares		52,400						52,400
Total shareholders’ equity		24,773,700			(8,440,900	)		16,332,800
								-
Total liabilities and shareholders’ equity	$	27,576,100		$	(8,440,900	)	$	19,135,200

Schedule Of Condensed Consolidated Statement of Operation and Comprehensive Income

	For the three Months Ended September 30, 2022
	As filed			Effect on Restatement			As Restated
Revenues	$	2,670,000		$			$	2,670,000
Cost of revenues		1,320,900						1,320,900
Gross profit		1,349,100						1,349,100
Operating expenses:
General and administrative		1,607,500						1,607,500
Selling		875,700						875,700
Research and development		560,100						560,100
Total operating expenses		3,043,300						3,043,300
Loss from operations		(1,694,200	)					(1,694,200	)
Other expense,net		(15,000	)					(15,000	)
Loss from continuing operations before income tax benefit		(1,709,200	)					(1,709,200	)
Income tax benefit, deferred		(417,200	)		417,200			-
Loss from continuing operations		(1,292,000	)		(417,200	)		(1,709,200	)
Discontinued operations (Note 10):
Gain from discontinued operations, net of tax		-						-
Net loss		(1,292,000	)		(417,200	)		(1,709,200	)
Comprehensive loss
Unrealized holding loss on investment securities, net of tax		4,100						4,100
Foreign currency translation (loss) gain adjustment		(118,300	)					(118,300	)
Comprehensive (loss) gain		(114,200	)					(114,200	)
Total comprehensive loss	$	(1,406,200	)	$	(417,200	)	$	(1,823,400	)
Basic and diluted loss per common share
Continuing operations	$	(0.18	)	$	(0.06	)	$	(0.24	)
Discontinued operations	$	0.00		$	0.00		$	0.00
Consolidated operations	$	(0.18	)	$	(0.06	)	$	(0.24	)

Schedule Of Consolidated Consolidated Statement of OF Changes In Stock holders Equity

	Common Stock				Additional Paid-in		Accumulated Other Comprehensive			Retained Earnings (Accumulated			Treasury Stock				Total Stockholders'
	Shares		Amount		Capital		Income (Loss)			Deficit)			Shares		Amount		Equity
As Filed
Balance as of June 30, 2022 (unaudited)		7,023,401	$	351,200	$	31,664,100	$	(105,600	)	$	(6,295,500	)		19,802	$	52,400	$	25,561,800
Net loss		-		-		-		-			(1,292,000	)		-		-		(1,292,000	)
Foreign currency translation adjustment		-		-		-		(118,300	)		-			-		-		(118,300	)
Unrealized holding loss on investment securities, net of tax		-		-		-		4,100			-			-		-		4,100
Stock-based compensation		-		-		618,100		-			-			-		-		618,100
Balance as of September 30, 2022 (Unaudited)		7,023,401	$	351,200	$	32,282,200	$	(219,800	)	$	(7,587,500	)		19,802	$	52,400	$	24,773,700
Effect on Restatement
Adjustment to year end June 30, 2022 Net loss		-		-		-		-			(8,023,700	)		-		-		(8,023,700	)
Adjustment to  Three month ended September 30,2022 Net Income											(417,200	)						(417,200	)
As Restated
Balance as of September 30, 2022 (unaudited)		7,023,401	$	351,200	$	32,282,200	$	(219,800	)	$	(16,028,400	)		19,802	$	52,400	$	16,332,800

Schedule Of Condensed Consolidated Statement of Cash Flows

	For the three months ended September 30, 2022
	As Filed			Effect on Restatement			As Restated
Operating activities:
Net loss	$	(1,292,000	)	$	(417,200	)	$	(1,709,200	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		188,900						188,900
Stock-based compensation		618,100						618,100
Loss on sale of investments		56,900						56,900
Unrealized holding loss on investments		12,100						12,100
Deferred income taxes		(417,200	)		417,200			-
Changes in operating assets and liabilities:
Trade accounts receivable		391,200						391,200
Inventories		(334,100	)					(334,100	)
Prepaid and other current assets		26,400						26,400
Income tax receivable		(300	)					(300	)
Operating lease right of use assets		29,700						29,700
Accounts payable		(674,800	)					(674,800	)
Accrued expenses		(11,100	)					(11,100	)
Deferred Revenue		(27,900	)					(27,900	)
Lease Liabilities		(32,200	)					(32,200	)
Other long term liabilities		-						-
Net cash used in operating activities		(1,466,300	)		-			(1,466,300	)
Investing activities:
Redemption of investment securities		1,043,000						1,043,000
Purchase of investment securities		(14,800	)					(14,800	)
Capital expenditures		(160,100	)					(160,100	)
Purchase of other intangible assets		(1,500	)					(1,500	)
Payment of Finance Lease Obligations		-						-
Net cash provided  by (used) in investing activities		866,600			-			866,600
Financing activities:
Bank overdraft		84,000						84,000
Net cash provided by (used) in financing activities		84,000						84,000
Effect of changes in foreign currency exchange rates on cash and cash equivalents		(17,700	)					(17,700	)
		-			-			-
Net decrease in cash and cash equivalents		(533,400	)		-			(533,400	)
Cash and cash equivalents, beginning of period		2,971,100						2,971,100
Cash and cash equivalents, end of period	$	2,437,700		$	-		$	2,437,700
					-
SUPPLEMENTAL DISCLOSURES:
Noncash financing activities:
Record right of use assets	$	41,100					$	41,100
Record lease liabilities	$	38,800					$	38,800

Schedule of Restated Loss Per Share

	As filed			Effect of Restatement			As Restated
Weighted average number of common shares outstanding		7,003,599						7,003,599
Effect of dilutive securities:		-						-
Weighted average number of dilutive common shares outstanding		7,003,599						7,003,599
Basic and diluted loss per common share:
Continuing operations	$	(0.18	)	$	(0.06	)	$	(0.24	)
Discontinued operations		-			-			-
Consolidated operations	$	(0.18	)	$	(0.06	)	$	(0.24	)