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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Segment information by geographic areas

The following table contains certain financial information by geographic area: 

 

    Fiscal Year Ended June 30,  
Net sales:   2020     2019  
United States   $ 74,839,778     $ 36,217,387  
Europe, the Middle East and Africa ("EMEA")           224,427  
Asia     232,520       27,086  
Totals   $ 75,072,298     $ 36,468,900  
Long lived assets by geographic area
Long-lived assets, net (property and equipment and intangible assets):   June 30, 2020     June 30, 2019  
United States   $ 1,302,353     $ 1,209,159  
Asia     43,688       32,631  
Totals   $ 1,346,041     $ 1,241,790  
Schedule of receivables

The balances of our trade receivables are as follows: 

 

    June 30, 2020     June 30, 2019  
Accounts Receivable   $ 15,973,537     $ 4,138,469  
Schedule of contract liabilities

Our contract liabilities are as follows:

 

    June 30, 2020     June 30, 2019  
Undelivered products   $ 140, 000     $ 140,000  
Useful lives of property and equipment

Depreciation is computed using the straight-line method over the estimated useful lives as follows:

 

 

Machinery   6 years
Office equipment   5 years
Molds   3 years
Vehicles   5 years
Computers and software   5 years
Furniture and fixtures   7 years
Facilities improvements   5 years or life of the lease, whichever is shorter
Intangible Assets

The definite lived intangible assets consisted of the following as of June 30, 2020:

 

Definite lived intangible assets:   Expected Life  

Average

Remaining

life

 

Gross

Intangible

Assets

   

Less Accumulated

Amortization

   

Net Intangible

Assets

 
Complete technology   3 years   1.8 years     18,397       7,666       10,731  
Technology in progress   Not Applicable   -     140,192             140,192  
Software   5 years   2.9 years     525,930       338,593       187,337  
Patents   10 years   7.0 years     20,734       10,821       9,913  
Certifications & licenses   3 years   1.9 years     4,078,310       3,301,331       776,979  
Total as of June 30, 2020           $ 4,783,563     $ 3,658,411     $ 1,125,152  

 

The definite lived intangible assets consisted of the following as of June 30, 2019:

 

Definite lived intangible assets:   Expected Life  

Average

Remaining

life

 

Gross

Intangible

Assets

   

Less Accumulated

Amortization

   

Net Intangible

Assets

 
Complete technology   3 years   3.0 years     18,397             18,397  
Technology in progress   Not Applicable       465,352             465,352  
Software   5 years   2.7 years     423,436       278,266       145,170  
Patents   10 years   6.3 years     58,884       8,729       50,155  
Certifications & licenses   3 years   0.8 years     3,319,461       2,888,624       430,837  
Total as of June 30, 2019           $ 4,285,530     $ 3,175,619     $ 1,109,911  
Schedule of Expected Amortization Expense

The amortization expenses of the definite lived intangible assets for the next five years and thereafter are as follows:

 

 

  FY2021   FY2022   FY2023   FY2024   FY2025   Thereafter  
Total $ 406,945   $ 338,496   $ 142,776   $ 26,993   $ 26,993   $ 42,757