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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Jun. 30, 2018
Current assets:    
Cash and cash equivalents $ 414,255 $ 1,696,116
Trade accounts receivable, less allowance for doubtful accounts of $89,500 as of March 31, 2019 and $370,300 as of June 30, 2018 6,853,624 7,810,846
Other receivables 5,659 52,819
Inventories, net 11,218,935 10,987,855
Prepaid expenses 706,584 778,654
Income tax receivable 59,983 95,501
Total current assets 19,259,040 21,421,791
Property and equipment, net 5,814,836 5,850,899
Intangible assets, net 6,588,466 7,131,758
Goodwill 7,116,614 7,116,614
Other assets 516,345 532,872
Total assets 39,295,301 42,053,934
Current liabilities:    
Accounts payable 4,248,740 3,412,960
Accrued payroll and benefits expense 1,468,821 1,929,465
Accrued expenses 1,147,296 830,243
Warranty reserve 205,850 205,850
Line of credit 4,793,505 6,286,037
Current portion of long-term debt 171,715 164,003
Current portion of capital lease obligations 282,415 226,727
Current portion of deferred gain 150,448 150,448
Current portion of acquisition holdback and earn-out liability 966,667 1,379,512
Total current liabilities 13,435,457 14,585,245
Long-term debt, net of current portion 173,601 303,348
Capital lease obligations, net of current portion 2,987,736 2,972,540
Deferred gain, net of current portion 1,416,717 1,529,553
Acquisition holdback and earn-out liability, net of current portion 0 875,000
Deferred tax liabilities, net 236,829 0
Other liabilities 171,489 411,466
Total liabilities 18,421,829 20,677,152
Commitments and contingencies
Stockholders' equity:    
Preferred stock, no par value: Authorized 50,000,000 shares; 4,899,000 shares and 4,899,000 shares issued and outstanding as of March 31, 2019 and June 30, 2018, respectively 11,641,816 11,641,816
Common stock, no par value: Authorized 100,000,000 shares; 8,322,544 shares and 8,089,398 shares issued and outstanding as of March 31, 2019 and June 30, 2018, respectively 20,996,558 20,225,107
Accumulated deficit (11,764,902) (10,490,141)
Total stockholders' equity 20,873,472 21,376,782
Total liabilities and stockholders' equity $ 39,295,301 $ 42,053,934