v3.25.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2025
Jun. 30, 2025
Current assets:    
Cash $ 1,588,000 $ 1,334,000
Accounts receivable, net of allowance for credit losses of $68,000 at September 30, 2025 and June 30, 2025 7,497,000 11,374,000
Inventories, net 15,726,000 17,231,000
Other current assets 2,146,000 1,865,000
Total current assets 26,957,000 31,804,000
Right of use assets, net 1,125,000 1,275,000
Property, plant and equipment, net 1,505,000 1,554,000
Other assets 108,000 119,000
Total assets 29,695,000 34,752,000
Current liabilities:    
Accounts payable 13,739,000 16,295,000
Accrued expenses 7,504,000 7,058,000
Line of credit 9,935,000 13,627,000
Subordinated debt 1,000,000
Deferred revenue 129,000 459,000
Customer deposits 38,000 38,000
Finance leases payable, current portion 90,000 80,000
Office leases payable, current portion 651,000 815,000
Accrued interest 83,000 246,000
Total current liabilities 32,169,000 39,618,000
Long term liabilities:    
Finance leases payable, less current portion 36,000 32,000
Office leases payable, less current portion 470,000  
Deferred revenue, less current portion 340,000 506,000
Total liabilities 33,015,000 40,156,000
Commitments and contingencies (Note 9)
Stockholders’ equity (deficit):    
Preferred stock, $0.001 par value; 3,000,000 and 500,000 shares authorized at September 30, 2025 and June 30, 2025, respectively; none issued and outstanding
Common stock, $0.001 par value; 75,000,000 shares authorized; 16,862,010 and 16,835,698 shares issued and outstanding at September 30, 2025 and June 30, 2025, respectively 17,000 17,000
Additional paid-in capital 105,611,000 100,965,000
Accumulated deficit (108,948,000) (106,386,000)
Total stockholders’ equity (deficit) (3,320,000) (5,404,000)
Total liabilities and stockholders’ equity (deficit) $ 29,695,000 $ 34,752,000

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