Revenue Recognition (Tables)

3 Months Ended

Sep. 30, 2018

Revenue Recognition [Abstract]

Schedule of impacts of adopting ASC Topic 606

The impacts of adopting ASC Topic 606 on the Company’s consolidated balance sheets as of July 1, 2018 were as follows:

					As
					Adjusted
	As		ASC 606		Under
	Reported		Adjustments		ASC 606
Long-term contract assets	$	—	$	960,000	$	960,000
Total Shareholders’ equity	$	24,401,178	$	960,000	$	25,361,178

Schedule of provisions of ASC 606

The Company determined that the satisfied performance obligations and allocation of the transaction price related to the $5,000,000 received prior to adoption was consistent with the provisions of ASC 606 and also recorded a transitional adjustment to accumulated deficit in the amount of $960,000 as follows:

Minimum royalty revenue provided by the contract	$	6,000,000
Implicit price concession		(5,040,000	)
Adoption adjustment to accumulated deficit under ASC 606	$	960,000

Schedule of product revenue by classification and location

The following table disaggregates the Company’s product revenue by classification and location:

	For the three months ended
	September 30,
	2018		2017
Total
Consumables	$	6,339,108	$	5,379,589
Equipment		3,022,056		1,901,134
Total	$	9,361,164	$	7,280,723
Domestic:
Consumables	$	4,825,599	$	4,134,918
Equipment		578,919		592,424
Total	$	5,404,518	$	4,727,342
International:
Consumables	$	1,513,509	$	1,244,671
Equipment		2,443,137		1,308,710
Total	$	3,956,646	$	2,553,381

Schedule of revenue by geographic location

The following table disaggregates the Company’s revenue by geographic location:

	Three months ended
	September 30,
	2018		2017
United States	$	5,404,518	$	4,727,342
International		3,956,646		2,553,381
Total Product Revenue	$	9,361,164	$	7,280,723