XML 16 R5.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net (loss) income $ (99,359) $ 126,928
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
(Recovery of) provision for doubtful accounts of accounts receivable 480 10,698
Depreciation of equipment and leasehold improvements 80,438 74,278
Stock-based compensation expense 138,876 152,994
Change in cash surrender value of life insurance (167,084) (157,285)
Provision for deferred compensation 88,810 21,000
Deferred compensation paid (37,500) (37,500)
Net changes in operating assets and liabilities:    
Accounts receivable 120,587 (922,662)
Inventories (1,390,691) 241,541
Prepaid expenses and other current assets (194,087) (200,115)
Income taxes receivable   1,479
Income taxes payable 1,031  
Accounts payable 624,512 111,250
Accrued liabilities (11,661) 269,335
Deferred revenue (82,445) 127,159
Net cash (used in) operating activities (928,093) (180,900)
Investing activities:    
Purchase of equipment and leasehold improvements (57,194) (264,996)
Life insurance premiums paid (95,726) (103,568)
Net cash (used in) investing activities (152,920) (368,564)
Financing activities:    
Proceeds from exercise of stock options 1,364,046  
Net cash provided by financing activities 1,364,046  
Net increase (decrease) in cash and cash equivalents 283,033 (549,464)
Cash and cash equivalents at beginning of year 6,950,215 3,999,409
Cash and cash equivalents at end of year $ 7,233,248 $ 3,449,945