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SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Jun. 30, 2020
Accounting Policies [Abstract] |
Depreciation and amortization of property and equipment |
|  | Years |
Furniture and fixtures |  |  | 5-7 |
Computer equipment |  |  | 3 |
Equipment under capital leases |  |  | 3 |
Long-term use equipment |  |  | 10 |
Leasehold improvements |  | See below |
Amortization of intangible assets |
|  | Years |
Customer relationships |  |  | 10 |
Acquired developed software |  |  | 5 |
Developed software |  |  | 3 |
Goodwill |  | See below |
Contract assets and liabilities |
|  | Contract assets |
Balance – June 30, 2019 |  | $ | 4,682,799 |
Revenue recognized during the period but not billed |  |  | 600,200 |
Amounts reclassified to accounts receivable |  |  | (2,143,519 | )
Other |  |  | - |
Balance – June 30, 2020 |  | $ | 3,139,480 | (1)
(1) | Contract asset balances for June 30, 2020 include a current and a long-term contract asset, $2,300,754 and $838,726, respectively.
|  | Contract liability |
Balance – June 30, 2019 |  | $ | 1,917,787 |
Amounts billed but not recognized as revenue |  |  | 1,709,485 |
Revenue recognized related to the opening balance of deferred revenue |  |  | (1,781,925 | )
Other |  |  | - |
Balance – June 30, 2020 |  | $ | 1,845,347 |
Disaggregation of revenue |
|  | For the Year Ended June 30, 2020 |
Geography |  | Subscription & support |  |  | Professional services |  |  | Transaction based |  |  | Total |
North America |  | $ | 18,420,292 |  |  | $ | 662,734 |  |  | $ | 920,459 |  |  | $ | 20,003,485 |
International |  |  | 34,569 |  |  |  | - |  |  |  | - |  |  |  | 34,569 |
Total |  | $ | 18,454,861 |  |  | $ | 662,734 |  |  | $ | 920.459 |  |  | $ | 20,038,054 |
Diluted EPS |
|  | Year ended June 30, |
|  | 2020 |  |  | 2019 |
Numerator |  |  |  |  |  |
Net income applicable to common shareholders |  | $ | 1,006,825 |  |  | $ | 3,315,963 |
Denominator |  |  |  |  |  |  |  |
Weighted average common shares outstanding, basic |  |  | 19,651,000 |  |  |  | 19,849,000 |
Warrants to purchase Common Stock |  |  | 212,000 |  |  |  | 519,000 |
Weighted average common shares outstanding, diluted |  |  | 19,863,000 |  |  |  | 20,368,000 |
Net income per share |  |  |  |  |  |  |  |
Basic |  | $ | 0.05 |  |  | $ | 0.17 |
Diluted |  | $ | 0.05 |  |  | $ | 0.16 |

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