Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (5,566,000) $ (5,265,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 787,000 647,000
Stock-based compensation 1,233,000 539,000
Fair value of warrants issued as debt issuance cost 92,000
Amortization of debt issuance costs 161,000 445,000
Noncash lease expense 448,000 370,000
Allowance for inventory reserve 13,000 214,000
Changes in operating assets and liabilities:    
Accounts receivable (1,755,000) (1,244,000)
Inventories (1,191,000) (4,911,000)
Other assets (81,000) 11,000
Accounts payable 1,315,000 4,182,000
Accrued expenses 464,000 395,000
Accrued interest 134,000 2,000
Office lease payable (476,000) (379,000)
Deferred revenue 212,000 (163,000)
Customer deposits (64,000) (40,000)
Net cash used in operating activities (4,274,000) (5,197,000)
Cash flows from investing activities    
Purchases of equipment (588,000) (753,000)
Proceeds from sale of equipment 8,000
Net cash used in investing activities (588,000) (745,000)
Cash flows from financing activities:    
Proceeds from issuance of common stock in public offering, net of offering costs 697,000
Proceeds from stock option exercises and employee stock purchase plan exercises 110,000
Proceeds from revolving line of credit 52,820,000 48,800,000
Payment of revolving line of credit (49,087,000) (43,198,000)
Payment of finance leases (110,000) (52,000)
Net cash provided by financing activities 3,733,000 6,247,000
Net change in cash (1,129,000) 305,000
Cash, beginning of period 2,379,000 485,000
Cash, end of period 1,250,000 790,000
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Initial right of use asset recognition 855,000
Common stock issued for vested RSUs 222,000 114,000
Supplemental cash flow information:    
Interest paid $ 1,000,000 $ 524,000