XML 12 R2.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Jun. 30, 2015
Current assets:    
Cash and cash equivalents $ 1,078,406 $ 3,925,967
Trade accounts receivable, less allowance for doubtful accounts of $366,886 as of March 31, 2016 and $417,444 as of June 30, 2015 3,337,486 3,346,770
Other receivables 8,143 6,748
Inventories, net 5,368,257 5,421,787
Prepaid expenses and other 226,437 273,629
Prepaid income taxes 68,282 338,108
Total current assets 10,087,011 13,313,009
Property and equipment, net 4,754,949 5,025,076
Intangible assets, net 164,891 190,803
Other assets 561,933 623,342
Total assets 15,568,784 19,152,230
Current liabilities:    
Current portion of long-term debt 135,165 121,884
Current portion of capital lease 180,764 173,357
Current portion of deferred gain 150,448 150,448
Line of credit   1,909,919
Warranty reserve 153,359 153,185
Accounts payable 1,843,418 2,520,327
Accrued expenses 51,223 279,547
Accrued payroll and benefits expense 448,620 263,092
Total current liabilities 2,962,997 5,571,759
Long-term debt, net of current portion 588,316 651,118
Capital lease, net of current portion 3,328,336 3,464,850
Deferred gain, net of current portion 1,868,061 1,980,897
Deferred rent 74,419 41,150
Deferred income tax liabilities 136,128 136,128
Total liabilities $ 8,958,257 $ 11,845,902
Commitments and contingencies
Stockholders' equity:    
Preferred stock, no par value: Authorized 5,000,000 shares; 1,610,000 shares issued and outstanding at March 31, 2016 and June 30, 2015, respectively $ 3,067,608 $ 3,087,554
Common stock, no par value: Authorized 50,000,000 shares; 2,742,355 shares and 2,642,389 shares issued and outstanding at March 31, 2016 and June 30, 2015, respectively 7,691,319 7,610,244
Accumulated deficit (4,148,400) (3,391,470)
Total stockholders' equity 6,610,527 7,306,328
Total liabilities and stockholders' equity $ 15,568,784 $ 19,152,230