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Consolidated Statements of Comprehensive Income (Loss) - USD ($) | 12 Months Ended
--- | ---
Jun. 30, 2016 | Jun. 30, 2015
Consolidated Statements Of Comprehensive Income Loss |  |
Sales, net | $ 17,272,238 | $ 13,661,569
Cost of sales | 7,967,728 | 7,682,194
Gross margin | 9,304,510 | 5,979,375
Operating expenses: |  |
Selling, general and administrative | 6,581,218 | 5,130,414
New product development | 668,840 | 1,109,095
Loss on disposal of equipment | 45,037 | (1,482)
Total costs and expenses | 7,295,095 | 6,238,027
Operating income (loss) | 2,009,415 | (258,652)
Other income (expense) |  |
Interest expense | (37,627) | (18,279)
Interest expense - debt costs |  | (13,270)
Change in fair value of warrant liability | (52,454) | (464,039)
Other income (expense) | (305,444) | 41,276
Net income (loss) before taxes | 1,613,890 | (712,964)
Income taxes | 199,275 | 2,316
Net income (loss) | $ 1,414,615 | $ (715,280)
Income (loss) per common share - basic | $ .09 | $ (0.05)
Number of shares used in per share calculation- basic | 15,401,893 | 14,711,586
Income (loss) per common share - diluted | $ .08 | $ (0.05)
Number of shares used in per share calculation- diluted | 16,875,383 | 14,711,586
Foreign currency translation adjustment | $ 75,428 | $ (1,001)
Comprehensive income (loss) | $ 1,490,043 | $ (716,281)

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