v3.25.2
Balance Sheets - USD ($)
Jun. 30, 2025
Jun. 30, 2024
Current Assets:    
Cash and cash equivalents $ 1,773,735 $ 405,278
Accounts receivable, net of allowance for credit losses of $80,192 at June 30, 2025 and $118,872 at June 30, 2024 4,336,730 3,545,491
Inventories, net 3,562,112 2,868,100
Prepaid expenses 385,390 299,364
Total current assets 10,057,967 7,118,233
Fixed Assets:    
Machinery and equipment 3,385,958 3,341,194
Leasehold improvements 871,356 810,914
Furniture and fixtures 538,428 416,425
Total fixed assets 4,795,742 4,568,533
Less—Accumulated depreciation and amortization 4,261,950 4,074,960
Net fixed assets 533,792 493,573
Operating lease right-of-use asset 141,825 189,999
Patents, net 232,493 286,559
Goodwill 8,824,210 8,824,210
Total other assets 9,198,528 9,300,768
TOTAL ASSETS 19,790,287 16,912,574
Current Liabilities:    
Revolving line of credit 0 1,000,000
Current portion of capital lease obligation 27,368 41,113
Current maturities of long-term debt 577,898 276,928
Accounts payable 2,909,100 1,397,313
Customer advances 1,821,929 1,172,350
Accrued compensation and other 764,004 840,662
Operating lease liability 50,995 178,450
Total current liabilities 6,151,294 4,906,816
Capital lease obligation, net of current portion 0 27,369
Long-term debt, net of current maturities 1,289,205 1,899,052
Operating lease liability, net of current portion 90,954 11,549
Total liabilities 7,531,453 6,844,786
Stockholders’ Equity:    
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding – 7,714,701 shares at June 30, 2025 and 6,073,939 shares at June 30, 2024 77,147 60,739
Additional paid-in capital 69,152,317 61,197,433
Accumulated deficit (56,970,630) (51,190,384)
Total stockholders’ equity 12,258,834 10,067,788
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 19,790,287 $ 16,912,574