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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2019
Jun. 30, 2018
Current assets:    
Cash and cash equivalents $ 155,520 $ 1,595,757
Restricted cash 100,510 100,359
Trade accounts receivable, less allowance for doubtful accounts of $89,500 as of June 30, 2019 and $370,300 as of June 30, 2018 7,495,309 7,810,846
Other receivables 2,776 52,819
Inventories, net 11,527,521 10,987,855
Prepaid expenses 632,061 778,654
Income tax receivable 0 95,501
Total current assets 19,913,697 21,421,791
Property and equipment, net 5,677,419 5,850,899
Intangible assets, net 6,407,374 7,131,758
Goodwill 7,116,614 7,116,614
Other assets 516,841 532,872
Total assets 39,631,945 42,053,934
Current liabilities:    
Accounts payable 3,989,546 3,412,960
Accrued payroll and benefits expense 1,373,481 1,929,465
Accrued expenses 1,038,726 830,243
Warranty reserve 207,988 205,850
Line of credit 6,540,639 6,286,037
Current portion of long-term debt 173,921 164,003
Current portion of capital lease obligations 283,781 226,727
Current portion of deferred gain 150,448 150,448
Current portion of acquisition holdback and earn-out liability 500,000 1,379,512
Income tax payable 16,751 0
Total current liabilities 14,275,281 14,585,245
Long-term debt, net of current portion 129,428 303,348
Capital lease, net of current portion 2,915,241 2,972,540
Deferred gain, net of current portion 1,379,105 1,529,553
Acquisition holdback and earn-out liability, net of current portion 0 875,000
Other liabilities 177,181 411,466
Total liabilities 18,876,236 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 June 30, 2019 and June 30, 2018, respectively 11,641,816 11,641,816
Common stock, no par value: Authorized 100,000,000 shares; 8,417,793 shares and 8,089,398 shares issued and outstanding as of June 30, 2019 and June 30, 2018, respectively 21,320,106 20,225,107
Accumulated deficit (12,206,213) (10,490,141)
Total stockholders' equity 20,755,709 21,376,782
Total liabilities and stockholders' equity $ 39,631,945 $ 42,053,934