XML 28 R17.htm IDEA: XBRL DOCUMENT v3.22.2.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Segment information by geographic areas
          
   Fiscal Year Ended June 30, 
Net sales:  2022   2021 
North America  $23,305,366   $183,771,146 
Caribbean and South America   2,375    17,500 
Asia   690,021    326,699 
Totals  $23,997,762   $184,115,345 
Long lived assets by geographic area
          
Long-lived assets, net (property and equipment and intangible assets):  June 30, 2022   June 30, 2021 
United States  $1,374,747   $1,349,320 
Asia   81,261    49,040 
Totals  $1,456,008   $1,398,360 
Schedule of receivables
        
   June 30, 2022   June 30, 2021 
Accounts Receivable  $1,322,619   $2,542,429 
Schedule of contract liabilities
        
   June 30, 2022   June 30, 2021 
Undelivered products  $371,624   $140,000 
Useful lives of property and equipment
   
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
                     
Definite lived intangible assets:  Expected Life 

Average

Remaining

life

 

Gross

Intangible

Assets

  

Less Accumulated

Amortization

  

Net Intangible

Assets

 
Complete technology  3 years     18,397    18,397     
Technology in progress  Not Applicable     187,343        187,343 
Software  5 years  2.0 years   423,147    314,855    108,292 
Patents  10 years  2.5 years   21,543    15,122    6,421 
Certifications & licenses  3 years  1.1 years   2,144,359    1,096,359    1,048,000 
Total as of June 30, 2022        $2,794,789    1,444,733    1,350,056 

 

The definite lived intangible assets consisted of the following as of June 30, 2021:

 

Definite lived intangible assets:  Expected Life 

Average

Remaining

life

 

Gross

Intangible

Assets

  

Less Accumulated

Amortization

  

Net Intangible

Assets

 
Complete technology  3 years  0.5 years   18,397    15,331    3,066 
Technology in progress  Not Applicable     602,388        602,388 
Software  5 years  3.0 years   399,811    268,495    131,316 
Patents  10 years  3.9 years   21,105    12,951    8,154 
Certifications & licenses  3 years  1.6 years   1,070,770    568,944    501,826 
Total as of June 30, 2021        $2,112,471   $865,721   $1,246,750 
Schedule of Expected Amortization Expense
                        
   FY2023   FY2024   FY2025   FY2026   FY2027   Thereafter 
Total  $557,856   $381,973   $181,342   $14,042   $10,000   $17,500