Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (5,495,000) $ (6,089,000)
Adjustments to reconcile net loss to net cash provided by (used in) used in operating activities:    
Depreciation 750,000 787,000
Stock-based compensation 831,000 1,233,000
Amortization of debt issuance costs 123,000 161,000
Non-cash lease expense 493,000 448,000
Inventory write downs 592,000 358,000
Changes in operating assets and liabilities:    
Accounts receivable (196,000) (1,668,000)
Inventories (48,000) (1,562,000)
Other assets 259,000 11,000
Accounts payable 3,471,000 1,522,000
Accrued expenses 1,759,000 719,000
Accrued interest 68,000 134,000
Office leases payable (543,000) (476,000)
Deferred revenue 124,000 212,000
Customer deposits 20,000 (64,000)
Net cash provided by (used in) operating activities 2,208,000 (4,274,000)
Cash flows from investing activities:    
Purchases of equipment (498,000) (588,000)
Net cash used in investing activities (498,000) (588,000)
Cash flows from financing activities:    
Proceeds from subordinated debt borrowing 1,000,000
Proceeds from stock option exercises and employee stock purchase plan exercises 98,000 110,000
Proceeds from revolving line of credit 46,914,000 52,820,000
Payment of revolving line of credit (49,744,000) (49,087,000)
Payment of finance leases (116,000) (110,000)
Net cash provided by (used in) financing activities (1,848,000) 3,733,000
Net change in cash (138,000) (1,129,000)
Cash, beginning of period 643,000 2,379,000
Cash, end of period 505,000 1,250,000
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Common stock issued for vested RSUs 65,000 222,000
Warrants issued in connection with borrowing agreement, recorded as debt issuance cost 92,000
Supplemental Cash Flow Information:    
Interest paid $ 947,000 $ 1,000,000