Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2026
Jun. 30, 2025
Current assets:    
Cash $ 372,000 $ 1,334,000
Accounts receivable, net of allowance for credit losses of $86,000 and $68,000 at March 31, 2026 and June 30, 2025, respectively 3,864,000 11,374,000
Inventories, net 16,656,000 17,231,000
Other current assets 2,539,000 1,865,000
Total current assets 23,431,000 31,804,000
Right of use assets, net 748,000 1,275,000
Property, plant and equipment, net 1,331,000 1,554,000
Other assets 92,000 119,000
Total assets 25,602,000 34,752,000
Current liabilities:    
Accounts payable 8,268,000 16,295,000
Accrued expenses 5,637,000 7,058,000
Line of credit 5,722,000 13,627,000
Subordinated debt 1,000,000
Deferred revenue 142,000 459,000
Customer deposits 62,000 38,000
Finance leases payable, current portion 87,000 80,000
Office leases payable, current portion 621,000 815,000
Accrued interest 53,000 246,000
Total current liabilities 20,592,000 39,618,000
Long term liabilities:    
Finance leases payable, less current portion 22,000 32,000
Office leases payable, less current portion 83,000 506,000
Deferred revenue, less current portion 292,000
Total liabilities 20,989,000 40,156,000
Commitments and contingencies (Note 11)  
Stockholders’ equity (deficit):    
Preferred stock, $.001 par value; 3,000,000 and 500,000 shares authorized at March 31, 2026 and June 30, 2025, respectively; none issued and outstanding
Common stock, $0.001 par value; 75,000,000 shares authorized; 21,361,383 and 16,835,698 issued and outstanding at March 31, 2026 and June 30, 2025, respectively 21,000 17,000
Additional paid-in capital 116,114,000 100,965,000
Accumulated deficit (111,522,000) (106,386,000)
Total stockholders’ equity (deficit) 4,613,000 (5,404,000)
Total liabilities and stockholders’ equity (deficit) $ 25,602,000 $ 34,752,000