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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2019
Jun. 30, 2019
Current assets:    
Cash and cash equivalents $ 374,644 $ 155,520
Restricted cash 100,510 100,510
Trade accounts receivable, less allowance for doubtful accounts of $89,500 as of September 30, 2019 and June 30, 2019 7,299,975 7,495,309
Other receivables 6,809 2,776
Inventories, net 11,129,982 11,527,521
Prepaid expenses 642,961 632,061
Income tax receivable 1,349 0
Total current assets 19,556,230 19,913,697
Property and equipment, net 5,499,584 5,677,419
Operating lease assets  3,534,949 0
Intangible assets, net 6,226,279 6,407,374
Goodwill 7,116,614 7,116,614
Other assets 509,891 516,841
Total assets 42,443,547 39,631,945
Current liabilities:    
Accounts payable 4,923,221 3,989,546
Accrued payroll and benefits expense 1,229,353 1,373,481
Accrued expenses 1,050,917 1,038,726
Warranty reserve 207,988 207,988
Line of credit 5,076,906 6,540,639
Current portion of long-term debt 173,369 173,921
Current portion of finance lease liability 299,421 283,781
Current portion of deferred gain 150,448 150,448
Current portion of operating lease liability 897,209 0
Acquisition earn-out liability 375,000 500,000
Income tax payable 0 16,751
Total current liabilities 14,383,832 14,275,281
Long-term debt, net of current portion 83,363 129,428
Finance lease liability, net of current portion 2,830,489 2,915,241
Deferred gain, net of current portion 1,341,494 1,379,105
Operating lease liability, net of current portion 2,637,740 0
Other liabilities 182,289 177,181
Total liabilities 21,459,207 18,876,236
Commitments and contingencies
Stockholders' equity:    
Preferred stock, no par value: Authorized 50,000,000 shares; 4,899,000 shares issued and outstanding as of September 30, 2019 and June 30, 2019 11,641,816 11,641,816
Common stock, no par value: Authorized 100,000,000 shares; 8,679,231 shares and 8,417,793 shares issued and outstanding as of September 30, 2019 and June 30, 2019, respectively 21,616,803 21,320,106
Accumulated deficit (12,274,279) (12,206,213)
Total stockholders' equity 20,984,340 20,755,709
Total liabilities and stockholders' equity $ 42,443,547 $ 39,631,945