Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (2,926,000) $ (3,820,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 523,000 371,000
Stock-based compensation 670,000 304,000
Fair value of warrants issued as debt issuance cost 92,000
Amortization of debt issuance costs 134,000 368,000
Noncash lease expense 296,000 236,000
Allowance for inventory reserve (2,000) 135,000
Changes in operating assets and liabilities:    
Accounts receivable (3,930,000) (1,858,000)
Inventories 715,000 (3,380,000)
Other assets (157,000) (17,000)
Accounts payable 286,000 6,152,000
Accrued expenses 109,000 89,000
Accrued interest 128,000
Office lease payable (312,000) (244,000)
Deferred revenue 179,000 (82,000)
Customer deposits 150,000 (146,000)
Net cash used in operating activities (4,045,000) (1,892,000)
Cash flows from investing activities    
Purchases of equipment (338,000) (344,000)
Proceeds from sale of fixed assets 8,000
Net cash used in investing activities (338,000) (336,000)
Cash flows from financing activities:    
Proceeds from revolving line of credit 35,868,000 30,550,000
Payment of revolving line of credit (32,205,000) (28,628,000)
Payment of finance leases (75,000) (22,000)
Net cash provided by financing activities 3,588,000 1,900,000
Net change in cash (795,000) (328,000)
Cash, beginning of period 2,379,000 485,000
Cash, end of period 1,584,000 157,000
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Initial right of use asset recognition 258,000
Common stock issued for vested RSUs 183,000 114,000
Supplemental cash flow information:    
Interest paid $ 605,000 $ 288,000