1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Disaggregation of revenue

Revenues are comprised of the following for the fiscal years ended June 30, 2021 and 2020:

	2021		2020
Engineering Design Services	$	2,770,481	$	1,390,324
Optical Components		5,751,212		5,773,068
Medical Device Products and Assemblies		2,153,214		2,759,963
Total Revenues	$	10,674,907	$	9,923,355

Schedule of contract liability

Contract liabilities, which were recorded as customer advances in the Company’s Consolidated Balance Sheets, and unearned revenue are comprised of the following:

	Fiscal Year Ended June 30,
	2021			2020
Contract liabilities, beginning of period	$	417,059		$	450,192
Unearned revenue received from customers		1,322,005			554,314
Revenue recognized		(1,288,980	)		(587,447	)
Contract liabilities, end of period	$	450,084		$	417,059

Schedule of Inventory

The components of inventories at June 30, 2021 and 2020 are as follows:

	2021		2020
Raw material	$	626,255	$	653,678
Work-in-progress		453,117		665,593
Finished goods		806,023		877,973
	$	1,885,395	$	2,197,244

Estimated Useful Lives of Property and Equipment

The Company provides for depreciation and amortization by charges to operations, using the straight-line and declining-balance methods, which allocate the cost of fixed assets over the following estimated useful lives:

Asset Classification	Estimated Useful Life
Machinery and equipment	2-7 years
Leasehold improvements	Shorter of lease term or estimated useful life
Furniture and fixtures	5 years
Vehicles	3 years

Schedule of earnings per share

The following is the calculation of loss per share for the years ended June 30, 2021 and 2020:

	Year Ended June 30
	2021			2020
Net Loss– Basic and Diluted	$	(102,835	)	$	(1,426,150	)
Basic and diluted weighted average shares outstanding		13,281,351			12,998,915
Loss per share
Basic and fully diluted	$	(0.01	)	$	(0.11	)

Warranty reserve activity

The following tables summarize warranty reserve activity for the years ended June 30, 2021 and 2020:

	2021			2020
Balance at beginning of period	$	25,000		$	25,000
Provision for warranty claims		7,611			12,940
Warranty claims incurred		(7,611	)		(12,940	)
Balance at end of period	$	25,000		$	25,000