Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

v3.26.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2026
Jun. 30, 2026
Current assets:    
Cash $ 409,000 $ 305,000
Accounts receivable, net of allowance for credit losses of $86,000 and $70,000 at September 30 and June 30, 2026, respectively 4,442,000 4,862,000
Inventories, net 14,434,000 14,752,000
Other current assets 1,050,000 781,000
Total current assets 20,335,000 20,700,000
Right of use assets, net 1,885,000 2,167,000
Fixed assets, net of accumulated depreciation of $2,100,000 and $2,034,000 at September 30 and June 30, 2026, respectively 439,000 476,000
Intangible assets, net of accumulated amortization of $2,574,000 and $2,459,000 at September 30 and June 30, 2026, respectively 741,000 763,000
Other assets 143,000 92,000
Total assets 23,543,000 24,198,000
Current liabilities:    
Accounts payable 11,258,000 8,473,000
Accrued expenses 4,000,000 4,124,000
Line of credit 6,285,000 6,303,000
Deferred revenue 144,000 144,000
Customer deposits 32,000 31,000
Finance leases payable, current portion 27,000 52,000
Office leases payable, current portion 830,000 862,000
Accrued interest 49,000 58,000
Total current liabilities 22,625,000 20,047,000
Long term liabilities:    
Finance leases payable, less current portion 16,000 19,000
Office leases payable, less current portion 1,067,000 1,274,000
Deferred revenue, less current portion 266,000 300,000
Total liabilities 23,974,000 21,640,000
Commitments and contingencies (Note 8)
Stockholders’ equity (deficit):    
Preferred stock, $.001 par value; 3,000,000 shares authorized; none issued and outstanding at September 30 and June 30, 2026, respectively
Common stock, $0.001 par value; 75,000,000 shares authorized; 21,636,790 and 21,580,992 issued and outstanding at September 30 and June 30, 2026, respectively 22,000 22,000
Additional paid-in capital 116,551,000 116,370,000
Accumulated deficit (117,004,000) (113,834,000)
Total stockholders’ (deficit) equity (431,000) 2,558,000
Total liabilities and stockholders’ equity (deficit) $ 23,543,000 $ 24,198,000