Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (7,448,000) $ (6,674,000)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 824,000 849,000
Stock-based compensation (See F-24) 973,000 979,000
Amortization of debt issuance costs 71,000 164,000
Allowance for credit losses 4,000 23,000
Non-cash lease expense 894,000 820,000
Inventory write downs (See F-8) 658,000 534,000
Changes in operating assets and liabilities:    
Accounts receivable 6,508,000 (1,746,000)
Inventories 1,821,000 (788,000)
Other assets (247,000) (1,085,000)
Accounts payable (7,820,000) 5,022,000
Accrued expenses (2,934,000) 3,132,000
Accrued interest (15,000) 120,000
Office leases payable 815,000 (734,000)
Deferred revenue (15,000) (26,000)
Customer deposits (7,000) 20,000
Net cash (used in) provided by operating activities (5,918,000) 610,000
Cash flows from investing activities:    
Purchases of equipment (509,000) (653,000)
Net cash used in investing activities (509,000) (653,000)
Cash flows from financing activities:    
Proceeds from issuance of preferred and common stock warrants under Private Placement 3,826,000
Offering costs for issuance of preferred and common stock warrants (652,000)
Proceeds from issuance of common stock under Public Offering 11,041,000
Offering costs for issuance of common stock under the Public Offering (1,280,000)
Proceeds from the issuance of common stock under the CEF 19,000
Offering costs for issuance of common stock under the CEF (389,000)
Proceeds from subordinated debt borrowing 1,000,000
Proceeds from stock option exercises and employee stock purchase plan purchases 311,000 97,000
Proceeds from revolving line of credit 54,445,000 64,463,000
Payment of revolving line of credit (61,769,000) (64,670,000)
Cost to amend line of credit agreement (113,000)
Payment of finance leases (41,000) (156,000)
Net cash provided by financing activities 5,398,000 734,000
Net change in cash (1,029,000) 691,000
Cash, beginning of period 1,334,000 643,000
Cash, end of period 305,000 1,334,000
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Right-of-use asset recognition 1,787,000
Preferred and common stock warrants issued under Private Placement in exchange for settlement of subordinated debt, including interest accrued 1,173,000
Common stock issued for vested RSUs 224,000 161,000
Cash paid for income taxes, net of refunds, by jurisdiction is as follows:    
State (California) 800 800
Interest paid $ 1,044,000 $ 1,235,000