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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2016
Jun. 30, 2016
Jun. 30, 2015
Current Assets:      
Cash and cash equivalents $ 516,578 $ 50,059 $ 241,051
Accounts receivable (net of allowance for doubtful accounts of $23,377 in 2016 and 2015) 442,087 750,380 588,042
Inventories 1,097,891 1,133,451 1,073,256
Prepaid expenses 94,044 88,129 65,182
Total current assets 2,150,600 2,022,019 1,967,531
Fixed Assets:      
Machinery and equipment 2,505,314 2,479,471 2,431,127
Leasehold improvements 553,596 553,596 553,596
Furniture and fixtures 148,303 148,303 148,303
Vehicles 0 19,674 19,674
Total 3,207,213 3,201,044 3,152,700
Less: Accumulated depreciation and amortization (3,119,194) 3,122,849 3,096,993
Net fixed assets 88,019 78,195 55,707
Patents, net 28,722 22,874 18,644
TOTAL ASSETS 2,267,341 2,123,088 2,041,882
Current Liabilities:      
Current portion of capital lease obligation 8,120 7,857 0
Accounts payable 983,128 1,151,561 912,150
Customer advances 37,100 0 118,800
Accrued employee compensation 194,451 238,381 222,222
Accrued professional services 66,600 65,550 60,735
Accrued warranty expense 25,000 25,000 25,000
Other accrued liabilities 63,012 15,612 36,087
Total current liabilities 1,377,411 1,503,961 1,374,994
Capital lease obligation, net of current portion 27,828 31,955 0
Commitments (Note 2)
Stockholders' Equity:      
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding; 7,539,582 shares at June 30, 2016 and 6,389,806 shares at June 30, 2015 88,729 75,396 63,898
Additional paid-in capital 45,043,151 44,176,051 43,232,500
Accumulated deficit (44,269,778) (43,664,275) (42,629,510)
Total stockholders' equity 862,102 587,172 666,888
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,267,341 $ 2,123,088 $ 2,041,882