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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2022
Jun. 30, 2021
Current Assets:    
Cash and cash equivalents $ 831,585 $ 861,650
Accounts receivable, net of allowance for doubtful accounts of $253,633 at March 31, 2022 and $251,383 at June 30, 2021 3,347,692 1,878,755
Inventories 2,965,220 1,885,395
Prepaid expenses 318,551 150,635
Total current assets 7,463,048 4,776,435
Fixed Assets:    
Machinery and equipment 3,196,585 3,084,511
Leasehold improvements 812,283 792,723
Furniture and fixtures 216,810 178,640
Total Fixed Assets 4,225,678 4,055,874
Less: Accumulated depreciation and amortization 3,599,491 3,461,622
Net fixed assets 626,187 594,252
Operating lease right-to-use asset 140,607 61,247
Patents, net 212,952 141,702
Goodwill 8,824,210 687,664
TOTAL ASSETS 17,267,004 6,261,300
Current Liabilities:    
Current portion of capital lease obligation 40,102 38,347
Current maturities of long-term debt 367,714 0
Current portion of acquisition earn out liability 898,855 166,667
Accounts payable 2,538,040 1,205,149
Customer advances 1,018,275 450,084
Accrued compensation and other 862,496 589,616
Operating lease liability 45,405 61,247
Total current liabilities 5,770,887 2,511,110
Capital lease obligation, net of current portion 122,096 152,397
Long-term debt, net of current maturities 2,053,070 0
Acquisition earn out liability, net of current portion 697,408 166,666
Operating lease liability, net of current portion 95,202 0
Stockholders’ Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding 16,887,840 shares at March 31, 2022 and 13,282,476 at June 30, 2021 168,878 132,825
Additional paid-in capital 56,723,154 50,464,280
Accumulated deficit (48,363,691) (47,165,978)
Total stockholders’ equity 8,528,341 3,431,127
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 17,267,004 $ 6,261,300