XML 13 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2018
Jun. 30, 2018
Current assets    
Cash and cash equivalents $ 569,694 $ 723,352
Accounts receivable, net 2,701,110 2,507,304
Inventory, net 407,878 453,129
Prepaid expenses and other current assets 79,405 54,058
Total current assets 3,758,087 3,737,843
Property and equipment, net 1,292,990 1,421,097
Other assets    
Deferred tax asset 5,816,315 5,816,315
Total assets 10,867,392 10,975,255
Current liabilities    
Accounts payable 1,644,229 1,436,897
Accrued expenses 2,029,564 2,082,591
Accrued commissions 459,211 608,405
Accrued dividends 85,941 984,979
Accrued income taxes payable 515,667 515,667
Accrued interest notes payable 151,527 155,257
Deferred rent 204,452 194,628
Notes payable 1,698,169 3,049,651
Derivative liabilities 815,001 1,323,625
Total current liabilities 7,603,761 10,351,700
Deferred rent 157,498 135,001
Related party notes payable 1,415,449
Deferred Taxes Payable
Total liabilities 9,176,708 10,486,701
Commitments and contingencies
Shareholders’ equity    
Preferred stock, $.10 par value; 5,000,000 shares authorized, Series D, 605,000 shares and Series E 25,000 shares issued and outstanding at September 30, 2018, and June 30, 2018, respectively 63,000 63,000
Common stock, $.001 par value; 190,000,000 shares authorized, 7,383,706 and 7,249,370 shares issued and outstanding on September 30, 2018, and June 30, 2018 , respectively 25,714 25,579
Additional paid-in capital 46,600,419 45,089,337
(Accumulated deficit) retained earnings (44,998,449) (44,689,362)
Total shareholders’ equity 1,690,684 488,554
Total liabilities and shareholders’ equity $ 10,867,392 $ 10,975,255