XML 17 R5.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income (loss) $ 493,594 $ (465,597)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
(Recovery of) provision for doubtful accounts of accounts receivable (9,226) 56,386
Depreciation of equipment and leasehold improvements 302,616 330,629
Stock-based compensation expense 619,137 549,594
Deferred income taxes   13,276
Change in cash surrender value of life insurance (208,116) (194,083)
Provision for deferred compensation 308,000 63,520
Deferred compensation paid (150,000) (150,000)
Other income - SBA loan forgiveness (506,700)  
Net changes in operating assets and liabilities:    
Accounts receivable 85,505 1,281,693
Inventories (362,718) 1,312,654
Prepaid expenses and other current assets (188,357) (133,758)
Income taxes receivable 14,622 31,038
Income taxes payable 4,543  
Accounts payable (429,272) (608,668)
Accrued liabilities 85,468 (70,414)
Deferred revenue 289,644 (214,568)
Net cash provided by operating activities 348,740 1,801,702
Investing activities:    
Purchase of equipment and leasehold improvements (600,155) (424,159)
Life insurance premiums paid (104,051) (113,116)
Net cash (used in) investing activities (704,206) (537,275)
Financing activities:    
Proceeds from SBA loan   506,700
Proceeds from exercise of stock options 3,306,272  
Net cash provided by financing activities 3,306,272 506,700
Net increase in cash and cash equivalents 2,950,806 1,771,127
Cash and cash equivalents at beginning of year 3,999,409 2,228,282
Cash and cash equivalents at end of year $ 6,950,215 $ 3,999,409