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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net income (loss) $ 161,651 $ (623,835)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Recovery of doubtful accounts (171) (8,938)
Depreciation of equipment and leasehold improvements 222,998 258,401
Stock-based compensation expense 464,032 428,228
Deferred income taxes   13,276
Change in cash surrender value of life insurance (169,963) (156,398)
Change in deferred compensation accrual 173,000 37,016
Deferred compensation paid (112,500) (112,500)
Other income - SBA loan forgiveness (506,700)  
Net changes in operating assets and liabilities:    
Accounts receivable 355,531 110,705
Inventories (1,318,377) 1,859,887
Prepaid expenses and other current assets (212,482) (254,612)
Income taxes receivable 4,068 35,426
Accounts payable 122,598 (1,027,292)
Accrued liabilities 230,915 (15,616)
Deferred revenue 150,041 (203,960)
Net cash (used in) provided by operating activities (435,359) 339,788
Investing activities:    
Purchase of equipment and leasehold improvements (546,664) (391,151)
Life insurance premiums paid (103,891) (112,956)
Net cash (used in) investing activities (650,555) (504,107)
Financing activities:    
Proceeds from exercise of stock options 3,115,457  
Net cash provided by financing activities 3,115,457  
Net increase (decrease) in cash and cash equivalents 2,029,543 (164,319)
Cash and cash equivalents at beginning of period 3,999,409 2,228,282
Cash and cash equivalents at end of period $ 6,028,952 $ 2,063,963