General form for registration of securities under the Securities Act of 1933

Condensed Consolidated Balance Sheets

v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Jun. 30, 2025
Jun. 30, 2024
Current assets:      
Cash $ 372,000 $ 1,334,000 $ 643,000
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 9,773,000
Inventories, net 16,656,000 17,231,000 16,977,000
Other current assets 2,539,000 1,865,000 945,000
Total current assets 23,431,000 31,804,000 28,338,000
Right of use assets, net 748,000 1,275,000 2,096,000
Property, plant and equipment, net 1,331,000 1,554,000 1,749,000
Other assets 92,000 119,000 118,000
Total assets 25,602,000 34,752,000 32,301,000
Current liabilities:      
Accounts payable 8,268,000 16,295,000 11,395,000
Accrued expenses 5,637,000 7,058,000 3,926,000
Line of credit 5,722,000 13,627,000 13,834,000
Subordinated debt 1,000,000
Deferred revenue 142,000 459,000 485,000
Customer deposits 62,000 38,000 18,000
Finance leases payable, current portion 87,000 80,000 156,000
Office leases payable, current portion 621,000 815,000 734,000
Accrued interest 53,000 246,000 126,000
Total current liabilities 20,592,000 39,618,000 30,674,000
Long term liabilities:      
Finance leases payable, less current portion 22,000 32,000 112,000
Office leases payable, less current portion 83,000 506,000 1,321,000
Deferred revenue, less current portion 292,000
Total liabilities 20,989,000 40,156,000 32,107,000
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 17,000
Additional paid-in capital 116,114,000 100,965,000 99,889,000
Accumulated deficit (111,522,000) (106,386,000) (99,712,000)
Total stockholders’ equity (deficit) 4,613,000 (5,404,000) 194,000
Total liabilities and stockholders’ equity (deficit) $ 25,602,000 $ 34,752,000 $ 32,301,000