v3.25.2
SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)
 9 Months Ended
Mar. 31, 2025
SEGMENT INFORMATION AND GEOGRAPHIC DATA [Abstract]  
Summary Financial Information by Reportable Segment

Summary financial information by reportable segment is as follows:

   
Three Months Ended March 31, 2025
  
   
Online
Channels
    
Traditional
    
Total
  
Net sales
                  
Finished jewelry
  
$
2,376,826
    
$
1,552,102
    
$
3,928,928
  
Loose jewels
    
114,084
      
6,343
      
120,427
  
Total
  
$
2,490,910
    
$
1,558,445
    
$
4,049,355
  
                         
Product line cost of goods sold
                        
Finished jewelry
  
$
986,979
    
$
1,195,555
    
$
2,182,534
  
Loose jewels
    
44,858
      
4,211
      
49,069
  
Total
  
$
1,031,837
    
$
1,199,766
    
$
2,231,603
  
                         
Product line gross profit
                        
Finished jewelry
  
$
1,389,847
    
$
356,547
    
$
1,746,394
  
Loose jewels
    
69,226
      
2,132
      
71,358
  
Total
  
$
1,459,073
    
$
358,679
    
$
1,817,752
  
                         
Depreciation and amortization
  
$
94,189
    
$
122,464
    
$
216,653
  
                         
Capital expenditures
  
$
41,359
    
$
2,475
    
$
43,834
  

   
Three Months Ended March 31, 2024
  
   
Online
Channels
    
Traditional
    
Total
  
Net sales
                  
Finished jewelry
  
$
3,840,382
    
$
1,044,116
    
$
4,884,498
  
Loose jewels
    
219,828
      
157,640
      
377,468
  
Total
  
$
4,060,210
    
$
1,201,756
    
$
5,261,966
  
                         
Product line cost of goods sold
                        
Finished jewelry
  
$
1,980,096
    
$
737,957
    
$
2,718,053
  
Loose jewels
    
75,243
      
76,627
      
151,870
  
Total
  
$
2,055,339
    
$
814,584
    
$
2,869,923
  
                         
Product line gross profit
                        
Finished jewelry
  
$
1,860,286
    
$
306,159
    
$
2,166,445
  
Loose jewels
    
144,585
      
81,013
      
225,598
  
Total
  
$
2,004,871
    
$
387,172
    
$
2,392,043
  
                         
Depreciation and amortization
  
$
41,260
    
$
131,882
    
$
173,142
  
                         
Capital expenditures
  
$
142,756
    
$
85,198
    
$
227,954
  

   
Nine months Ended March 31, 2025
  
   
Online
Channels
    
Traditional
    
Total
  
Net sales
                  
Finished jewelry
  
$
8,228,051
    
$
2,934,998
    
$
11,163,049
  
Loose jewels
    
554,702
      
194,256
      
748,958
  
Total
  
$
8,782,753
    
$
3,129,254
    
$
11,912,007
  
                         
Product line cost of goods sold
                        
Finished jewelry
  
$
4,187,357
    
$
2,406,033
    
$
6,593,390
  
Loose jewels
    
248,853
      
85,352
      
334,205
  
Total
  
$
4,436,210
    
$
2,491,385
    
$
6,927,595
  
                         
Product line gross profit
                        
Finished jewelry
  
$
4,040,694
    
$
528,965
    
$
4,569,659
  
Loose jewels
    
305,849
      
108,904
      
414,753
  
Total
  
$
4,346,543
    
$
637,869
    
$
4,984,412
  
                         
Depreciation and amortization
  
$
281,199
    
$
370,010
    
$
651,209
  
                         
Capital expenditures
  
$
204,454
    
$
3,300
    
$
207,754
  

   
Nine months Ended March 31, 2024
  
   
Online
Channels
    
Traditional
    
Total
  
Net sales
                  
Finished jewelry
  
$
13,780,906
    
$
2,796,204
    
$
16,577,110
  
Loose jewels
    
850,208
      
693,311
      
1,543,519
  
Total
  
$
14,631,114
    
$
3,489,515
    
$
18,120,629
  
                         
Product line cost of goods sold
                        
Finished jewelry
  
$
6,948,411
    
$
1,647,325
    
$
8,595,736
  
Loose jewels
    
271,669
      
320,569
      
592,238
  
Total
  
$
7,220,080
    
$
1,967,894
    
$
9,187,974
  
                         
Product line gross profit
                        
Finished jewelry
  
$
6,832,495
    
$
1,148,879
    
$
7,981,374
  
Loose jewels
    
578,539
      
372,742
      
951,281
  
Total
  
$
7,411,034
    
$
1,521,621
    
$
8,932,655
  
                         
Depreciation and amortization
  
$
135,411
    
$
394,750
    
$
530,161
  
                         
Capital expenditures
  
$
442,460
    
$
280,796
    
$
723,256
  
Reconciliation of Product Line Cost of Goods Sold
A reconciliation of the Company’s product line cost of goods sold to cost of goods sold as reported in the condensed consolidated financial statements is as follows:

   
Three Months Ended March 31,
     Nine months Ended March 31,  
   
2025
    
2024
     2025     2024  
Product line cost of goods sold
  
$
2,231,603
    
$
2,869,923
     $ 6,927,595     $ 9,187,974  
Non-product line cost of goods sold: Manufacturing and production control expenses
    
401,395
      
672,373
       1,118,772       1,934,837  
Freight out
    
108,782
      
286,526
       392,750       828,990  
Other inventory adjustments
    
376,724
      
247,259
       36,058       182,734  
Cost of goods sold
  
$
3,118,504
    
$
4,076,081
     $ 8,475,175     $ 12,134,535  
Reconciliation of Product Line Gross Profit

A reconciliation of the Company’s consolidated product line gross profit to the Company’s consolidated net loss before income taxes is as follows:


   
Three Months Ended March 31,
     Nine months Ended March 31,
 
   
2025
    
2024
     2025
     2024  
Product line gross profit
  
$
1,817,752
    
$
2,392,043
     $ 4,984,412     $ 8,932,655  
Non-allocated cost of goods sold
    
(886,901
)
    
(1,206,158
)
     (1,547,580 )     (2,946,561 )
Sales and marketing
    
(1,524,954
)
    
(3,684,506
)
     (6,174,739 )     (10,702,796 )
General and administrative
    
(1,374,082
)
    
(1,199,511
)
     (3,907,913 )     (4,550,841 )
Other income (expense) net
    
(4,962
)
    
65,425
       2,630       229,474  
Loss before income taxes
  
$
(1,973,147
)
  
$
(3,632,707
)
   $ (6,643,190 )   $ (9,038,069 )
Net Sales by Geographic Area
The following presents net sales data by geographic area:

   
Three Months Ended March 31,
     Nine months Ended March 31,  

 
2025
    
2024
     2025     2024  
Net sales
                        
United States
  
$
4,049,355
    
$
5,188,939
     $ 11,912,007     $ 17,700,626  
International
    
-
      
73,027
       -       420,003  
Total
  
$
4,049,355
    
$
5,261,966
     $ 11,912,007     $ 18,120,629