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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Sales, net $ 12,001 $ 10,800 $ 22,305 $ 20,570
Cost of sales 10,671 9,752 19,756 18,517
Gross profit 1,330 1,048 2,549 2,053
Selling and administrative expenses 843 850 1,657 1,644
Operating income 487 198 892 409
Other income (expense), net        
Interest expense (190) (229) (390) (462)
Change in fair value of derivative liabilities 185 9 67
Impairment on investment in iBio, Inc. (168) (251)
Other income, net 7 4 7 4
Other income (expense), net (183) (208) (374) (642)
Income (loss) before income taxes 304 (10) 518 (233)
Income tax expense, net 58 338 113 294
Net income (loss) $ 246 $ (348) $ 405 $ (527)
Basic net income (loss) per common share (in dollars per share) $ 0.01 $ (0.02) $ 0.01 $ (0.02)
Diluted net income (loss) per common share (in dollars per share) $ 0.01 $ (0.02) $ 0.01 $ (0.02)
Weighted average common shares outstanding - basic (in shares) 29,392,030 21,135,174 28,305,408 21,135,174
Add: Equivalent shares outstanding (in shares) 506,327 600,837
Shares issuable upon conversion of Convertible Debt - CD Financial, LLC (in shares)
Weighted average common shares outstanding - diluted (in shares) 29,898,357 21,135,174 28,906,245 21,135,174