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SUBSEQUENT EVENTS | 9 Months Ended
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Mar. 31, 2025
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | NOTE 10 - SUBSEQUENT EVENTS During the quarter ended March 31, 2025, the U.S. government increased certain existing tariffs and implemented new tariffs on imported products. See Business Trends and Uncertainties in Note 2 – Summary of Significant Accounting Policies and Note 8 - Concentrations for information regarding the impact of tariffs on the Company. In April 2025, the U.S. government increased import tariffs across a wide range of countries at various rates, including on product imports from almost all countries, and individualized higher tariffs on certain countries, which include countries where the Company sources raw materials and components, notably China. As a result, selling prices of the Company’s finished products are likely to increase if tariffs are enforced at the April 2025 levels or are increased in the future, which may have a negative impact on the Company’s revenues, profitability and cash flows. While some of these tariff announcements have since been followed by announcements of limited exemptions and temporary pauses, due to the uncertainties pertaining to tariffs and tariff levels it is difficult for the Company to reliably forecast their short-term or ongoing impact to its business or that of its customers. Imports from our supplier in China have been temporarily paused to allow us to explore new arrangements with them. In addition, we are actively pursuing alternative sourcing strategies. Management evaluated events subsequent to March 31, 2025 through the filing date of these condensed consolidated financial statements and concluded there are no additional material subsequent events to disclose.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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