XML 63 R21.htm IDEA: XBRL DOCUMENT v3.3.0.814
Significant Accounting Policies (Tables)
12 Months Ended
Jun. 30, 2015
Accounting Policies [Abstract]  
Schedule of Composition of Inventory
The composition of inventory is as follows:

 
June 30,
 
2015
 
2014
Raw materials
$
1,111,730

 
$
1,278,929

Work in process
333,526

 
598,877

Finished goods
774,359

 
1,032,921

Total inventory
$
2,219,615

 
$
2,910,727

Schedule of Inventory Allowance
Valuation allowance activity for the years ended June 30, 2015 and 2014 was as follows:

 
June 30,
 
2015
 
2014
Balance, July 1
$
198,120

 
$
198,120

Provision for valuation allowance

 

Write-off’s

 

Balance, June 30
$
198,120

 
$
198,120

Schedule of Allowance for Doubtful Accounts
Allowance for doubtful accounts activity for the years ended June 30, 2015 and 2014 was as follows:
 
 
June 30,
 
2015
 
2014
Balance, July 1
$
311,713

 
$
409,562

Provision for bad debts
181,976

 
53,755

Write-off’s
(263,145
)
 
(151,604
)
Balance, June 30
$
230,544

 
$
311,713

Schedule of Property, Plant and Equipment
Property and equipment consist of the following at:
 
June 30,
 
2015
 
2014
Equipment
$
638,667

 
$
863,517

Furniture and Fixtures
99,321

 
96,404

Leasehold Improvement
28,549

 

 
766,537

 
959,921

Less: Accumulated depreciation and amortization
(718,524
)
 
(935,465
)
 
$
48,013

 
$
24,456

Schedule of Reconcilliation of Denominator of Basic and Diluted Earnings per Shares
A reconciliation of the denominator of the basic and diluted earnings per share for the years ended June 30, 2015 and 2014 is as follows:
 
 
2015
 
2014
Basic Weighted average shares outstanding
7,526,430

 
7,526,430

Effect of dilutive securities—Stock options and warrants

 

Diluted weighted average shares outstanding
7,526,430

 
7,526,430