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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2025
Jun. 30, 2024
Current Assets:    
Cash and cash equivalents $ 2,547,873 $ 405,278
Accounts receivable, net of allowance for credit losses of $66,833 at March 31, 2025 and $118,872 at June 30, 2024 3,425,053 3,545,491
Inventories, net 3,671,401 2,868,100
Prepaid expenses 326,524 299,364
Total current assets 9,970,851 7,118,233
Fixed Assets:    
Machinery and equipment 3,408,480 3,341,194
Leasehold improvements 823,191 810,914
Furniture and fixtures 517,847 416,425
Total fixed assets 4,749,518 4,568,533
Less—accumulated depreciation and amortization 4,215,649 4,074,960
Net fixed assets 533,869 493,573
Operating lease right-to-use asset 57,088 189,999
Patents, net 236,256 286,559
Goodwill 8,824,210 8,824,210
Total other assets 9,117,554 9,300,768
TOTAL ASSETS 19,622,274 16,912,574
Current Liabilities:    
Revolving line of credit 0 1,000,000
Current portion of capital lease obligation 36,225 41,113
Current maturities of long-term debt 576,405 276,928
Accounts payable 1,873,572 1,397,313
Contract liabilities 1,665,551 1,172,350
Accrued compensation and other 800,371 840,662
Current portion of operating lease liability 57,088 178,450
Total current liabilities 5,009,212 4,906,816
Capital lease obligation, net of current portion 0 27,369
Long-term debt, net of current maturities and debt issuance costs 1,435,345 1,899,052
Operating lease liability, net of current portion 0 11,549
Total liabilities 6,444,557 6,844,786
Stockholders’ Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding – 7,666,247 shares at March 31, 2025 and 6,073,939 at June 30, 2024 76,662 60,739
Additional paid-in capital 68,669,128 61,197,433
Accumulated deficit (55,568,073) (51,190,384)
Total stockholders’ equity 13,177,717 10,067,788
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 19,622,274 $ 16,912,574