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Significant Accounting Policies (Policies)
 6 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Principles of Consolidation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated.
Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("US GAAP") requires management to make estimates and assumptions that impact the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition
Deferred Revenues

    The Company records deferred revenues when cash payments are received or due in advance of its performance. The Company’s deferred revenues relate to payments received for the customer care plans for a 12-month period. The consideration received is recognized monthly over the service period.

(in thousands)Three Months Ended December 31,Six Months Ended December 31,
2022202120222021
Beginning of Period$274 $276 $332 $364 
Additions137 213 241321
Revenue Recognized152 179 314 375 
End of Period$259 $310 $259 $310 
Inventory Inventories are stated at the lower of cost or net realizable value. Cost is determined on a first-in, first-out basis and include freight-in materials, labor and overhead costs. Inventories are written down if the estimated net realizable value is less than the recorded value. The Company reviews the carrying cost of inventories by product to determine the adequacy of reserves for obsolescence. In accounting for inventories, the Company must make estimates regarding the estimated realizable value of inventory. The estimate is based, in part, on the Company’s forecasts of future sales and age of inventory. If actual conditions are less favorable than those the Company has projected, the Company may need to increase its reserves for excess and obsolete inventories. Any increases in the reserves will adversely impact the Company’s results of operations. The establishment of a reserve for excess and obsolete inventory establishes a new cost basis in the inventory. Such reserves are not reduced until the product is sold. If the Company is able to sell such inventory any related reserves would be reversed in the period of sale. In accordance with industry practice, service parts inventory is included in current assets, although service parts are carried for established requirements during the serviceable lives of the products and, therefore, not all parts are expected to be sold within one year.
Accounts Receivable Accounts receivable are recorded at net realizable value. The Company performs ongoing credit evaluations of customers’ financial condition and does not require collateral for accounts receivable arising in the normal course of business. The Company maintains allowances for potential credit losses based on the Company’s historical trends, specific customer issues and current economic trends. Accounts are written off against the allowance when they are determined to be uncollectible based on management’s assessment of individual accounts. The Company recorded an allowance for doubtful accounts of approximately $256,000 and $236,000 as of December 31, 2022 and June 30, 2022, respectively.
Loan Commitments, Policy The Company's policy is to account for the PPP loan (See Note 7) as debt. The Company will continue to record the loan as debt until either (1) the loan is partially or entirely forgiven and the Company has been legally released, at which point the amount forgiven will be recorded as income or (2) the Company pays off the loan. The full amount of the PPP loan and accrued interest were forgiven on August 13, 2021 and was included in other income in the unaudited condensed consolidated income statement for the six-month period ended December 31, 2021.
Net Income (loss) Per Share Earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the year. All outstanding stock options are considered potential common stock. All outstanding convertible preferred stock are considered common stock at the beginning of the period or at the time of issuance, if later, pursuant to the if-converted method. The dilutive effect, if any, of stock options is calculated using the treasury stock method. As of December 31, 2022, and 2021, the average market prices for the three-month and six-month periods then ended are less than the exercise price of all the outstanding stock options and, therefore, the inclusion of the stock options would be anti-dilutive. In addition, since the effect of common stock equivalents is anti-dilutive with respect to losses, the convertible preferred stock has also been excluded from the Company’s computation of loss per common for the three-month period ended December 31, 2021 and six-month period ended December 31, 2022. Therefore, basic and diluted loss per common share for the three-month periods ended December 31, 2021 and the six-month period ended December 31, 2022 are the same.
For the Three Months Ended December 31,For the Six Months Ended December 31,
2022202120222021
Numerator:
  Numerator for basic loss per share:
 Net (loss) income $(6,043)$(53,154)$(326,767)$264,066 
Undeclared dividends on preferred stock13,006 13,006 26,012 26,012 
Net (loss) income applicable to common shareholders$(19,049)$(66,160)$(352,779)$238,054 
Numerator for diluted earnings per share:
Net (loss) income applicable to common shareholders$(19,049)$(66,160)$(352,779)$238,054 
Undeclared dividends on preferred stock— — — 26,012 
Diluted (loss) income$(19,049)$(66,160)$(352,779)$264,066 
Denominator for basic (loss) earnings per share
Denominator for basic (loss) earnings per share - weighted average shares outstanding
7,415,3297,415,329 7,415,3297,415,329 
Weighted average preferred stock converted to common stock— — — 5,634,287 
 Denominator for diluted (loss) earnings assumed conversion7,415,329 7,415,329 7,415,329 13,049,616 
Net (loss) earnings per share:
Basic net (loss) earnings per share$0.00 $(0.01)$(0.05)$0.03 
Diluted net (loss) earnings per share$0.00 $(0.01)$(0.05)$0.02 

The following table summarizes convertible preferred stock and securities that, if exercised would have an anti-dilutive effect on earnings per share.
For the Three Months Ended December 31,For the Six Months Ended December 31,
2022202120222021
Stock options157,000 157,000 157,000 157,000 
Convertible preferred stock5,978,287 5,634,287 5,978,287 — 
Total potential dilutive securities not included in income per share6,135,287 5,791,287 6,135,287 157,000 
Income Taxes
Income Taxes

    The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the unaudited condensed consolidated financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

    The Company recognizes deferred tax assets to the extent that it believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. As of December 31, 2022 and June 30, 2022, the Company has a fully recorded valuation allowance against its deferred tax assets.

    The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.

    The Company recognizes interest and penalties related to unrecognized tax benefits on the income tax expense line in the accompanying unaudited condensed consolidated statements of operations. As of December 31, 2022 and June 30, 2022, no accrued interest or penalties were required to be included on the related tax liability line in the unaudited condensed consolidated balance sheets.
New Accounting Pronouncements