Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (2,112,000) $ (2,139,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 261,000 172,000
Stock-based compensation 276,000 95,000
Amortization of debt issuance costs 81,000 229,000
Noncash lease expense 146,000 117,000
Allowance for inventory reserve (3,000) 25,000
Changes in operating assets and liabilities:    
Accounts receivable (2,050,000) (2,987,000)
Inventories (496,000) (2,641,000)
Other assets (215,000) (229,000)
Accounts payable 330,000 6,860,000
Accrued expenses 601,000 19,000
Accrued interest 100,000 1,000
Office lease payable (152,000) (120,000)
Deferred revenue 205,000 184,000
Customer deposits (65,000) (165,000)
Net cash used in operating activities   (3,093,000) (579,000)
Cash flows from investing activities    
Purchases of equipment (181,000) (352,000)
Net cash used in investing activities (181,000) (352,000)
Cash flows from financing activities:    
Proceeds from revolving line of credit 18,055,000 12,900,000
Payment of revolving line of credit (15,981,000) (12,138,000)
Payment of finance leases (40,000) (10,000)
Net cash provided by financing activities 2,034,000 752,000
Net change in cash (1,240,000) (179,000)
Cash, beginning of period 2,379,000 485,000
Cash, end of period 1,139,000 306,000
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Initial right of use asset recognition 78,000
Common stock issued for vested RSUs 5,000
Supplemental cash flow information:    
Interest paid $ 223,000 $ 99,000