Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Jun. 30, 2023
Current assets:    
Cash $ 1,139,000 $ 2,379,000
Accounts receivable 10,699,000 8,649,000
Inventories, net 19,495,000 18,996,000
Other current assets 1,053,000 918,000
Total current assets 32,386,000 30,942,000
Right of use assets 2,670,000 2,854,000
Property, plant and equipment, net 1,747,000 1,789,000
Other assets 119,000 120,000
Total assets 36,922,000 35,705,000
Current liabilities:    
Accounts payable 10,065,000 9,735,000
Accrued expenses 3,782,000 3,181,000
Line of credit 11,986,000 9,912,000
Deferred revenue 336,000 131,000
Customer deposits 17,000 82,000
Finance lease payable, current portion 147,000 143,000
Office lease payable, current portion 667,000 644,000
Accrued interest 102,000 2,000
Total current liabilities 27,102,000 23,830,000
Office lease payable, less current portion 1,880,000 2,055,000
Finance lease payable, less current portion 229,000 273,000
Total liabilities 29,211,000 26,158,000
Stockholders’ equity:    
Preferred stock, $0.001 par value; 500,000 shares authorized; none issued and outstanding
Common stock, $0.001 par value; 30,000,000 shares authorized; 16,478,237 and 16,462,215 shares issued and outstanding at September 30, 2023 and June 30, 2023, respectively 16,000 16,000
Additional paid-in-capital 98,362,000 98,086,000
Accumulated deficit (90,667,000) (88,555,000)
Total stockholders’ equity 7,711,000 9,547,000
Total liabilities and stockholders’ equity $ 36,922,000 $ 35,705,000