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Investment Securities | 12 Months Ended
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Jun. 30, 2023
Investment Securities [Abstract] |
Investment Securities | Note 4. Investment Securities Investment securities at June 30, 2023 consist of certificates of deposit, municipal bonds and U.S. treasury bills and at June 30, 2022, consisted of certificates of deposit and municipal bonds. The Company classifies investment securities as available-for-sale which have been determined to be level 1 assets. The cost, gross unrealized gains, gross unrealized losses and fair value debt securities by major security type at June 30, 2023 and June 30, 2022 are as follows:
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | 11,280,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,280,000 |
Municipal bonds |  | $ | 260,475 |  |  | $ | 165 |  |  | $ | (7,843 | ) |  | $ | 252,797 |
U.S. Treasury Bills |  | $ | 430,952 |  |  | $ | 1,225 |  |  | $ | (301 | ) |  | $ | 431,876 |
Total investment securities |  | $ | 11,971,427 |  |  | $ | 1,390 |  |  | $ | (8,144 | ) |  | $ | 11,964,673 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | 3,639,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,639,000 |
Municipal bonds |  | $ | 72,225 |  |  | $ | — |  |  | $ | (2,446 | ) |  | $ | 69,779 |
Total investment securities |  | $ | 3,711,225 |  |  | $ | — |  |  | $ | (2,446 | ) |  | $ | 3,708,779 |
The portfolio is diversified and highly liquid and primarily consists of investment grade fixed income instruments. At June 30, 2023, the Company did not have any investments in individual securities that have been in a continuous loss position considered to be other than temporary. As of June 30, 2023 and June 30, 2022, the remaining contractual maturities of available-for-sale debt securities were as follows:
|  | Years to Maturity |  |  |  |
|  | Less than |  |  | One to |  |  |  |
|  | One Year |  |  | Five Years |  |  | Total |
June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale |  | $ | 11,711,876 |  |  | $ | 252,797 |  |  | $ | 11,964,673 |
June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale |  | $ | 3,639,000 |  |  | $ | 69,779 |  |  | $ | 3,708,779 |

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