Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (1,961,000) $ (3,556,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 502,000 502,000
Stock-based compensation 494,000 625,000
Amortization of debt issuance costs 43,000 83,000
Non-cash lease expense 359,000 325,000
Inventory write downs 286,000 406,000
Changes in operating assets and liabilities:    
Accounts receivable 2,868,000 1,189,000
Inventories 1,240,000 1,248,000
Other assets (549,000) 24,000
Accounts payable (6,101,000) 1,761,000
Accrued expenses (1,039,000) 1,160,000
Accrued interest (33,000) 44,000
Office leases payable (406,000) (357,000)
Deferred revenue 5,000 168,000
Customer deposits 18,000 152,000
Net cash provided by (used in) operating activities (4,274,000) 3,774,000
Cash flows from investing activities:    
Purchases of equipment (285,000) (317,000)
Net cash used in investing activities (285,000) (317,000)
Cash flows from financing activities:    
Proceeds from issuance of prefunded preferred stock warrants and common stock warrants under Private Placement, net of offering costs of $645,000 3,182,000
Proceeds from issuance of common stock under public offering, net of offering costs of $1,280,000 9,760,000
Proceeds from stock option exercises and employee stock purchase plan purchases 292,000
Proceeds from subordinated debt borrowing 1,000,000
Proceeds from revolving line of credit 35,079,000 30,051,000
Payment of revolving line of credit (43,966,000) (34,192,000)
Cost to amend line of credit agreement (113,000)
Payment of finance leases (81,000) (76,000)
Net cash provided by (used in) financing activities 4,153,000 (3,217,000)
Net change in cash (406,000) 240,000
Cash, beginning of period 1,334,000 643,000
Cash, end of period 928,000 883,000
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Right-of-use asset recognition 139,000
Prefunded preferred stock warrants and common stock warrants issued under Private Placement in exchange for settlement of subordinated debt, including interest accrued 1,173,000
Supplemental Cash Flow Information:    
Interest paid $ 632,000 $ 684,000