Note M - Subsequent Events

9 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Subsequent Events [Text Block]

M. Subsequent Events

In

January 2020,

the World Health Organization (the “WHO”) announced a global health emergency because of a new strain of coronavirus COVID-

19

originating in Wuhan, China and the risks to the international community as the virus spread globally beyond its point of origin. In

March 2020,

the WHO classified the COVID-

19

outbreak as a pandemic based on the rapid increase in global exposure.

As of the date of issuance of these unaudited Condensed Consolidated Financial Statements, our operations have

not

been significantly impacted. However, the full impact of the COVID-

19

pandemic will continue to evolve subsequent to the

three

and

nine

months ended

March 

31,

2020

and as of the date these unaudited Condensed Consolidated Financial Statements are issued. As such, the full magnitude that the COVID-

19

pandemic will have on our financial condition and future results of operations is uncertain. Management is actively monitoring the situation on our financial condition, operations, suppliers, industry, customers, and workforce. As the spread of COVID-

19

continues, our ability to meet customer demands for products

may

be impacted or our customers

may

experience adverse business consequences due to COVID-

19.

Reduced demand for products or ability to meet customer demand (including as a result of disruptions at our suppliers and vendors) could have a material adverse effect on our business operations and financial performance.