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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Sales, net $ 49,977 $ 43,710
Cost of sales 43,755 38,722
Gross profit 6,222 4,988
Selling and administrative expenses 3,518 3,294
Operating income 2,704 1,694
Other income (expense), net:    
Interest expense (630) (926)
Change in fair value of derivative liability 9 494
Unrealized loss on investment in iBio Stock (23)
Impairment on investment in iBio Stock (358)
Other (expense) income, net (18) 101
Total other expense, net (662) (689)
Income before income taxes 2,042 1,005
Income tax expense, net 354 326
Net income 1,688 679
Expenses related to Convertible Debt - CD Financial, LLC:    
Change in fair value of derivative liability (494)
Interest expense, net of taxes 216
Amortization of prepaid financing costs, net of taxes 6
Accretion of Convertible debt 39
Diluted net income $ 1,688 $ 446
Basic net income per common share (in dollars per share) $ 0.06 $ 0.03
Diluted net income per common share (in dollars per share) $ 0.06 $ 0.02
Weighted average common shares outstanding - basic (in shares) 28,930,495 21,135,174
Add: Equivalent shares outstanding - stock options (in shares) 656,055 951,399
Shares issuable upon conversion of Convertible Debt - CD Financial, LLC (in shares) 8,230,769
Weighted average common shares outstanding - diluted (in shares) 29,586,550 30,317,342