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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Dec. 31, 2019
Jun. 30, 2019
Current Assets:    
Cash and cash equivalents $ 347,858 $ 2,288,426
Accounts receivable (net of allowance for doubtful accounts of $246,953 and $246,953 at December 31, 2019 and June 30, 2019, respectively) 2,000,048 2,165,107
Inventories 2,019,195 1,734,604
Prepaid expenses 133,278 180,336
Total current assets 4,500,379 6,368,473
Fixed Assets:    
Machinery and equipment 2,764,154 2,748,715
Leasehold improvements 695,981 668,446
Furniture and fixtures 171,548 168,450
Total 3,631,683 3,585,611
Less: Accumulated depreciation and amortization 3,248,525 3,202,605
Net fixed assets 383,158 383,006
Operating lease right-to-use asset 145,428 0
Patents, net 64,929 54,087
Goodwill 687,664 687,664
TOTAL ASSETS 5,781,558 7,493,230
Current Liabilities:    
Current portion of capital lease obligation 9,894 9,572
Accounts payable 1,162,457 1,174,263
Customer advances 388,506 450,192
Accrued compensation and other 405,431 533,944
Amount due for business acquisition 0 1,443,341
Operating lease liability 55,247 0
Total current liabilities 2,021,535 3,611,312
Capital lease obligation, net of current portion 0 5,027
Acquisition earn out liability 500,000 500,000
Operating lease liability 90,181 0
Stockholders' Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding - 12,880,047 shares at December 31, 2019 and 12,071,139 shares at June 30, 2019 128,801 120,712
Additional paid-in capital 49,314,969 48,893,172
Accumulated deficit (46,273,928) (45,636,993)
Total stockholders' equity 3,169,842 3,376,891
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,781,558 $ 7,493,230