Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2019
Jun. 30, 2019
Current assets:    
Cash $ 163,000 $ 102,000
Accounts receivable 1,026,000 2,416,000
Inventories 4,124,000 3,813,000
Other current assets 519,000 371,000
Total current assets 5,832,000 6,702,000
Right of use asset 2,618,000 0
Other assets 142,000 158,000
Property, plant and equipment, net 417,000 346,000
Total assets 9,009,000 7,206,000
Current liabilities:    
Accounts payable 2,792,000 2,483,000
Accrued expenses 755,000 858,000
Due to Factor 382,000 0
Line of credit - related party 8,000,000 6,405,000
Financing lease payable, current portion 29,000 29,000
Office lease payable, current portion 162,000 0
Accrued interest 853,000 571,000
Total current liabilities 12,973,000 10,346,000
Long term liabilities:    
Financing lease payable, less current portion 22,000 29,000
Office lease payable, less current portion 2,546,000 0
Total liabilities 15,541,000 10,375,000
Stockholders' deficit:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; none issued and outstanding 0 0
Common stock, $0.001 par value; 30,000,000 shares authorized; 5,104,474 and 5,101,580 shares issued and outstanding at September 30, 2019 and June 30, 2019, respectively 5,000 5,000
Additional paid-in capital 36,353,000 35,902,000
Accumulated deficit (42,890,000) (39,076,000)
Total stockholders' deficit (6,532,000) (3,169,000)
Total liabilities and stockholders' deficit $ 9,009,000 $ 7,206,000