Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Sep. 30, 2018 | Nov. 09, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | INTEGRATED BIOPHARMA INC | |
Entity Central Index Key | 1,016,504 | |
Trading Symbol | inbp | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 29,365,943 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Sales, net | $ 10,304 | $ 9,770 |
Cost of sales | 9,085 | 8,765 |
Gross profit | 1,219 | 1,005 |
Selling and administrative expenses | 814 | 794 |
Operating income | 405 | 211 |
Other income (expense), net: | ||
Interest expense | (200) | (233) |
Change in fair value of derivative liabilities | 9 | (118) |
Impairment on investment in iBio, Inc. | (83) | |
Total other expense, net | (191) | (434) |
Income (loss) before income taxes | 214 | (223) |
Income tax expense (benefit), net | 55 | (44) |
Net income (loss) | $ 159 | $ (179) |
Basic net income (loss) per common share (in dollars per share) | $ 0.01 | $ (0.01) |
Diluted net income (loss) per common share (in dollars per share) | $ 0.01 | $ (0.01) |
Weighted average common shares outstanding - basic (in shares) | 27,218,786 | 21,135,174 |
Add: Equivalent shares outstanding - Stock Options (in shares) | 744,818 | |
Shares issuable upon conversion of Convertible Debt - CD Financial, LLC (in shares) | 8,230,769 | |
Weighted average common shares outstanding - diluted (in shares) | 27,963,604 | 21,135,174 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 |
Current Assets: | ||
Cash | $ 365 | $ 228 |
Accounts receivable, net | 3,381 | 3,796 |
Inventories | 9,600 | 7,741 |
Other current assets | 387 | 389 |
Total current assets | 13,733 | 12,154 |
Property and equipment, net | 1,604 | 1,651 |
Right-of-use assets | 3,626 | |
Deferred tax assets, net | 640 | 671 |
Security deposits and other assets | 121 | 92 |
Total Assets | 19,724 | 14,568 |
Current Liabilities: | ||
Advances under revolving credit facility | 4,699 | 4,894 |
Accounts payable (includes $77 and $141 due to related party) | 6,044 | 4,184 |
Accrued expenses and other current liabilities | 982 | 1,060 |
Current portion of long term debt, net | 851 | 773 |
Current portion - Subordinated convertible note, net - CD Financial, LLC | 5,269 | |
Total current liabilities | 12,576 | 16,180 |
Operating lease obligations | 3,634 | |
Long term debt, net | 3,319 | 3,624 |
Total liabilities | 19,529 | 19,804 |
Commitments and Contingencies | ||
Stockholders' Equity (Deficiency): | ||
Common Stock, $0.002 par value; 50,000,000 shares authorized; 29,400,843 and 21,170,074 shares issued, respectively 29,365,943 and 21,135,174 shares outstanding, respectively | 59 | 42 |
Additional paid-in capital | 50,028 | 44,773 |
Accumulated deficit | (49,793) | (49,952) |
Less: Treasury stock, at cost, 34,900 shares | (99) | (99) |
Total Stockholders' Equity (Deficiency) | 195 | (5,236) |
Total Liabilities and Stockholders' Equity (Deficiency) | 19,724 | 14,568 |
Vitamin Realty LLC [Member] | ||
Current Assets: | ||
Right-of-use assets | 3,561 | |
Current Liabilities: | ||
Operating lease obligations | 3,569 | |
Unrelated Party [Member] | ||
Current Assets: | ||
Right-of-use assets | 65 | |
Current Liabilities: | ||
Operating lease obligations | $ 65 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 |
Accounts payable, due to related parties | $ 77 | $ 141 |
Common stock, par value (in dollars per share) | $ 0.002 | $ 0.002 |
Common stock, share authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 29,400,843 | 21,170,074 |
Common stock, shares outstanding (in shares) | 29,365,943 | 21,135,174 |
Treasury stock, shares aquired (in shares) | 34,900 | 34,900 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' (Deficiency) Equity (Unaudited) - 3 months ended Sep. 30, 2018 - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Jun. 30, 2018 | 21,170,074 | 34,900 | |||
Balance at Jun. 30, 2018 | $ 42 | $ 44,773 | $ (49,952) | $ (99) | $ (5,236) |
CD Financial, LLC Convertible Note, net (in shares) | 8,230,769 | ||||
CD Financial, LLC Convertible Note, net | $ 17 | 5,255 | 5,272 | ||
Net income (loss) | 159 | 159 | |||
Balance (in shares) at Sep. 30, 2018 | 29,400,843 | 34,900 | |||
Balance at Sep. 30, 2018 | $ 59 | $ 50,028 | $ (49,793) | $ (99) | $ 195 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows provided by operating activities: | ||
Net income (loss) | $ 159 | $ (179) |
from operating activities: | ||
Depreciation and amortization | 91 | 100 |
Accretion of financing instruments and other non cash interest | 17 | 26 |
Stock based compensation | 4 | |
Change in deferred tax assets | 31 | (54) |
Impairment on investment in iBio, Inc. | 83 | |
Change in fair value of derivative liabilities | (9) | 118 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 415 | 1,347 |
Inventories | (1,858) | 603 |
Other current assets | 8 | 35 |
Operating lease right of use assets | 112 | |
Security deposits and other assets | (52) | (48) |
Accounts payable | 1,861 | (455) |
Accrued expenses and other liabilities | (70) | 24 |
Operating lease liabilities | (112) | |
Net cash provided by operating activities | 593 | 1,604 |
Cash flows from investing activities: | ||
Purchase of property and equipment | (18) | (107) |
Cash contribution in AgroSport LLC | (8) | |
Net cash used in investing activities | (26) | (107) |
Cash flows from financing activities: | ||
Advances under revolving credit facility | 10,204 | 9,997 |
Repayments of advances under revolving credit facility | (10,400) | (10,768) |
Repayments under term note payables | (184) | (544) |
Repayments under capitalized lease obligations | (50) | (30) |
Net cash used in financing activities | (430) | (1,345) |
Net increase in cash | 137 | 152 |
Cash at beginning of period | 228 | 132 |
Cash at end of period | 365 | 284 |
Interest paid | 201 | 198 |
Income taxes paid | $ 2 |
Note 1 - Principles of Consolid
Note 1 - Principles of Consolidation and Basis of Presentation | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1. Basis of Presentation of Interim Financial Statements The accompanying condensed consolidated financial statements for the interim periods are unaudited and include the accounts of Integrated BioPharma, Inc., a Delaware corporation (together with its subsidiaries, the “Company”). The interim condensed consolidated financial statements have been prepared in conformity with Rule 8 03 X not 10 June 30, 2018 ( 10 June 30, 2018 not three September 30, 2018 not June 30, 2019 Nature of Operations The Company is engaged primarily in manufacturing, distributing, marketing and sales of vitamins, nutritional supplements and herbal products. The Company’s customers are located primarily in the United States, Luxembourg and Canada. The Company was previously known as Integrated Health Technologies, Inc. and, prior to that, as Chem International, Inc. The Company was reincorporated in its current form in Delaware in 1995. The Company’s business segments include: (a) Contract Manufacturing operated by InB:Manhattan Drug Company, Inc. (“MDC”), which manufactures vitamins and nutritional supplements for sale to distributors, multilevel marketers and specialized health-care providers; (b) Branded Proprietary Products operated by AgroLabs, Inc. (“AgroLabs”), which distributes healthful nutritional products for sale through major mass market, grocery and drug and vitamin retailers, under the following brands: Naturally Noni, Peaceful Sleep, Green Envy, FiberCal, Wheatgrass and other products which are being introduced into the market (these are referred to as our branded proprietary nutraceutical business and/or products); and (c) Other Nutraceutical Businesses which includes the operations of (i) The Vitamin Factory (the “Vitamin Factory”), which sells private label MDC products, as well as our AgroLabs products, through the Internet, (ii) IHT Health Products, Inc. (“IHT”) a distributor of fine natural botanicals, including multi minerals produced under a license agreement, (iii) MDC Warehousing and Distribution, Inc., a service provider for warehousing and fulfilment services and (iv) Chem International, Inc. (“Chem”), a distributor of certain raw materials for DSM Nutritional Products LLC. Accounting Policies Accounting Pronouncements Recently Adopted In May 2014, 2014 09, 606. 605, The core principle of the guidance is that an entity should recognize revenue to illustrate the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance also includes a cohesive set of disclosure requirements that will provide users of financial statements with comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from a reporting organization’s contracts with customers. During 2016, No. 2016 08, 2016 10 2016 12 July 1, 2018, 8 not In January 2016, No. 2016 01, 825 10 July 1, 2018, not In February 2016, No. 2016 02, 842 The standard will be effective for us beginning July 1, 2019, July 1, 2018. not Adoption of this standard resulted in the recognition of additional ROU assets and lease liabilities for operating leases and had the following impact to the reported results as of June 30, 2018 Consolidated Statement of Financial Condition As Reported New Lease Standard Adjustment As Adjusted Operating lease right-of-use assets $ - $ 69 $ 69 Operating lease right-of-use assets - Vitamin Realty, LLC - 3,668 3,668 Operating lease liabilities - 69 69 Operating lease liabilities - Vitamin Realty, LLC - 3,677 3,677 Current portion of long term debt, net 773 - 773 Long term debt, net 3,624 - 3,624 Current portion - Subordinated convertible note, net - CD Financial, LLC 5,269 - 5,269 In August, 2016, No. 2016 15, 230 July 1, 2018 not Aside from the adoption of ASUs, as described above and the Leases policy described below, there have been no 2019 10 June 30, 2018. Significant Accoun ting P olicies Sales. Other Income. Leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of our leases do not may We have lease agreements with lease and non-lease components, which are generally accounted for separately. For certain equipment leases, such as vehicles, we account for the lease and non-lease components as a single lease component. Earnings Per Share. The following options and potentially dilutive shares for convertible note payable (See Note 4. not three September 30, 2018 2017: Three Months Ended September 30, 2018 2017 Anti-dilutive stock options 150,000 2,692,017 Anti-dilutive shares for convertible notes payable - 8,230,769 Total anti-dilutive shares 150,000 10,922,786 Additionally, in the three September 30, 2018, 8,230,769 July 24, 2018 4. |
Note 2 - Inventories
Note 2 - Inventories | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 2 . Inventories Inventories are stated at the lower of cost or net realizable value using the first first September 30, June 30, 2018 2018 Raw materials $ 6,409 $ 4,179 Work-in-process 2,131 2,207 Finished goods 1,060 1,355 Total $ 9,600 $ 7,741 |
Note 3 - Property and Equipment
Note 3 - Property and Equipment, Net | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 3 . Property and Equipment, net Property and equipment, net consists of the following: September 30, June 30, 2018 2018 Land and building $ 1,250 $ 1,250 Leasehold improvements 1,268 1,268 Machinery and equipment 5,931 5,917 Transportation equipment 6 6 8,455 8,441 Less: Accumulated depreciation and amortization (6,851 ) (6,790 ) Total $ 1,604 $ 1,651 Depreciation and amortization expense recorded on property and equipment for the three September 30, 2018 2017 $66 $75, |
Note 4 - Senior Credit Facility
Note 4 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long Term Debt | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 4 . Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt As of September 30, 2018 June 30, 2018, Principal Amount Interest Rate Maturity Date As of September 30, 2018 As of June 30, 2018 Revolving advances under Senior Credit Facility with PNC Bank, National Association $ 4,699 $ 4,894 5.25 % 2/19/2020 Installment Note with PNC Bank 1,511 1,672 5.75 % 2/19/2020 Installment Note with PNC Equipment Finance 78 101 4.57 % 7/29/2019 Promissory Note with CD Financial, LLC 1,714 1,714 6.00 % 2/29/2020 Promissory Note with Vitamin Realty, LLC 686 686 4.00 % 2/29/2020 Capitalized lease obligations 220 269 3.86% -9.26% 3/17/2019-12/8/2020 Total outstanding debt 8,908 9,336 Less: Revolving Advances (4,699 ) (4,894 ) Prepaid financing costs (39 ) (45 ) Current portion of long term debt, net (851 ) (773 ) Long term debt, net $ 3,319 $ 3,624 Convertible Note payable - CD Financial, LLC $ - $ 5,350 6.00 % 7/24/2018 Less: Discount for embedded derivative - (66 ) Prepaid financing costs - (15 ) Convertible Note payable, net - CD Financial, LLC $ - $ 5,269 SENIOR CREDIT FACILITY On February 19, 2016, June 27, 2012. The Amended Loan Agreement provides for a total of $11,422 $8,000 $3,422 2.75% 5.25% 5.00% September 30 June 30, 2018, 3.25% 5.75% 5.50% September 30 June 30, 2018, 2%. February 19, 2020 ( The principal balance of the Revolving Advances is payable on the Senior Maturity Date, subject to acceleration, based upon a material adverse event clause, as defined, subjective accelerations for borrowing base reserves, as defined or upon the occurrence of any event of default under the Amended Loan Agreement or earlier termination of the Amended Loan Agreement pursuant to the terms thereof. The Term Loan shall be repaid in eighty-four 84 first eighty-three 83 $41, first March, 2016, first The Revolving Advances are subject to the terms and conditions set forth in the Amended Loan Agreement and are made in aggregate amounts at any time equal to the lesser of ( x $8.0 85%, 75%, 85% one may The Amended Loan Agreement contains customary mandatory prepayment provisions, including, without limitation the requirement to use any sales proceeds from the sale of iBio Stock to repay the Term Loan and to prepay the outstanding amount of the Term Note in an amount equal to twenty-five 25% June 30, 2016, not one hundred twenty 120 The Amended Loan Agreement also contains customary representations and warranties, covenants and events of default, including, without limitation, (i) a fixed charge coverage ratio maintenance requirement and (ii) an event of default tied to any change of control as defined in the Amended Loan Agreement. As of September 30, 2018, 25% June 30, 2016. In connection with the Senior Credit Facility, PNC and CD Financial entered into the Intercreditor and Subordination Agreement (the “Intercreditor Agreement”), which was acknowledged by the Borrowers, pursuant to which, among other things, (a) the lien of CD Financial on assets of the Borrowers is subordinated to the lien of PNC on such assets during the effectiveness of the Senior Credit Facility, and (b) priorities for payment of the debt for the Company and its subsidiaries (as described in this Note 4 In addition, in connection with the Senior Credit Facility, the following loan documents were executed: (i) a Stock Pledge Agreement with PNC, pursuant to which the Company pledged to PNC the iBio Stock; (ii) a Mortgage and Security Agreement with PNC with IHT Properties; and (iii) an Environmental Indemnity Agreement with PNC. CD FINANCIAL, LLC On June 27, 2012, February 21, 2008, 9.5% $4,500 $5,350 $1,714 July 7, 2017, February 19, 2016, February 29, 2020. The CD Notes are secured by all assets of the Borrowers, including, without limitation, machinery and equipment, real estate owned by IHT Properties, and iBio Stock owned by the Company. The CD Notes bear interest at an annual rate of 6% 10%. The CD Convertible Note is convertible at the option of CD Financial into common stock of the Company at a conversion price of $0.65 Pursuant to the terms of the Amended Loan Agreement and the Intercreditor Agreement, during the effectiveness of the Senior Credit Facility, (i) the principal of the CD Convertible Note may not may may The CD SPA contains customary representations and warranties, covenants and events of default, including, without limitation, an event of default tied to any change of control as defined in the CD SPA. In connection with the CD SPA, the Borrowers entered into an Amended and Restated Security Agreement and Amended and Restated Subsidiary Guaranty. On July 31, 2018, 8,230,769 3 $0.65 $0.65 As of June 30, 2018, $9 September 30, 2018 July 24, 2018. The Liquidity Note issued under the CD SPA remains outstanding. OTHER LONG TERM DEBT Related Party Debt. June 27, 2012, $686 January 10, 1997, 225 6. February 29, 2020, February 19, 2016. 4% first may |
Note 5 - Significant Risks and
Note 5 - Significant Risks and Uncertainties | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 5. ( a ) Major Customers. three September 30, 2018 2017, 89% 91% two two 61% 29% 63% 32% three September 30, 2018 2017, two 89% 87% September 30 June 30, 2018, 10% ( b ) Other Business Risks. 67% September 1, 2018 August 31, 2021. |
Note 6 - Leases and Other Commi
Note 6 - Leases and Other Commitments and Contingencies | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 6. Leases and other Commitments and Contingencies (a) Leases. 1 8 The components of lease expense for the three September 30, 2018 Related Party - Vitamin Realty Other Leases Totals Operating lease costs $ - $ 19 $ 19 Finance Operating Lease Costs: Amortization of right-of use assets $ 107 $ 5 $ 112 Interest on operating lease liabilities 35 1 36 Total finance lease cost $ 142 $ 6 $ 148 Operating Lease Liabilities Related Party Operating L e ase Liabilities . 100% January 5, 2012, second 74,898 76,161 January 31, 2026. $533, May 19, 2014, January 5, 2012, 2,700 January 31, 2019 January 1, 2024. $27 Rent expense, lease amortization costs and interest expense for the three September 30, 2018 2017 $202 $201 September 30, 2018 June 30, 2018, $763 $827, $3,569 Other Operating Lease Liabilities . May, 2023, As of September 30, 2018, Right-of-use Assets Operating Lease Obligations Remaining Cash Commitment Vitamin Realty Leases $ 3,561 $ 3,569 $ 4,092 Machinery and equipment leases 34 34 36 Office equipment leases 31 31 33 $ 3,626 $ 3,634 $ 4,161 The Company’s weighted average discount rate and remaining term on lease liabilities is approximately 3.76% 7.1 Supplemental cash flows information related to leases for the three September 30, 2018 Related Party - Vitamin Realty Other Leases Totals Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ - $ 19 $ 19 Operating cash flows from finance leases 94 5 99 Financing cash flows from capital lease obligations - 50 50 The Company did not three September 30, 2018. Maturities of operating lease liabilities as of September 30, 2018 Related Party Year ending Operating Lease Operating Lease June 30, Commitment Commitment Total 2019, remaining $ 18 $ 424 $ 442 2020 22 565 587 2021 21 565 586 2022 8 565 573 2023 - 565 565 2024 - 564 564 Thereafter - 844 844 Total minimum lease payments 69 4,092 4,161 Imputed interest (4 ) (523 ) (527 ) Total $ 65 $ 3,569 $ 3,634 Total rent expense, lease amortization costs and interest expense, including real estate taxes and maintenance charges, was approximately $239 $242 three September 30, 2018 2017, ( b ) Legal Proceedings. The Company is subject, from time to time, to claims by third (c) Other Claims. On May 15, 2012, March 17, 2009 ( $600 may $300. On May 30, 2012, no June 18, 2012, July 27, 2012, no December 18, 2012, January 15, 2013, no November 9, 2018, not |
Note 7 - Related Party Transact
Note 7 - Related Party Transactions | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 7. See Note 4. See Note 6 |
Note 8 - Segment Information an
Note 8 - Segment Information and Dissaggregated Revenue | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 8. The basis for presenting segment results generally is consistent with overall Company reporting. The Company reports information about its operating segments in accordance with GAAP which establishes standards for reporting information about a company’s operating segments. The Company has divided its operations into three three September 30, 2018 2017 $1,239 $1,658, Financial information relating to the three September 30, 2018 2017 Sales, Net Segment U.S. International Gross Capital Customers Customers Total Profit Depreciation Expenditures Contract 2018 $ 8,655 $ 1,197 $ 9,852 $ 1,083 $ 65 $ 18 Manufacturing 2017 7,822 1,583 9,405 835 74 93 Branded Proprietary 2018 71 7 78 21 - - Products 2017 19 11 30 32 1 13 Other Nutraceutical 2018 339 35 374 115 1 - Businesses 2017 271 64 335 138 - 1 Total 2018 9,065 1,239 10,304 1,219 66 18 Company 2017 8,112 1,658 9,770 1,005 75 107 Total Assets as of September 30, June 30, 2018 2018 Contract Manufacturing $ 17,339 $ 12,200 Branded Proprietary Products 665 543 Other Nutraceutical Businesses 1,715 1,825 Total Company $ 19,724 $ 14,568 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation of Interim Financial Statements The accompanying condensed consolidated financial statements for the interim periods are unaudited and include the accounts of Integrated BioPharma, Inc., a Delaware corporation (together with its subsidiaries, the “Company”). The interim condensed consolidated financial statements have been prepared in conformity with Rule 8 03 X not 10 June 30, 2018 ( 10 June 30, 2018 not three September 30, 2018 not June 30, 2019 Nature of Operations The Company is engaged primarily in manufacturing, distributing, marketing and sales of vitamins, nutritional supplements and herbal products. The Company’s customers are located primarily in the United States, Luxembourg and Canada. The Company was previously known as Integrated Health Technologies, Inc. and, prior to that, as Chem International, Inc. The Company was reincorporated in its current form in Delaware in 1995. The Company’s business segments include: (a) Contract Manufacturing operated by InB:Manhattan Drug Company, Inc. (“MDC”), which manufactures vitamins and nutritional supplements for sale to distributors, multilevel marketers and specialized health-care providers; (b) Branded Proprietary Products operated by AgroLabs, Inc. (“AgroLabs”), which distributes healthful nutritional products for sale through major mass market, grocery and drug and vitamin retailers, under the following brands: Naturally Noni, Peaceful Sleep, Green Envy, FiberCal, Wheatgrass and other products which are being introduced into the market (these are referred to as our branded proprietary nutraceutical business and/or products); and (c) Other Nutraceutical Businesses which includes the operations of (i) The Vitamin Factory (the “Vitamin Factory”), which sells private label MDC products, as well as our AgroLabs products, through the Internet, (ii) IHT Health Products, Inc. (“IHT”) a distributor of fine natural botanicals, including multi minerals produced under a license agreement, (iii) MDC Warehousing and Distribution, Inc., a service provider for warehousing and fulfilment services and (iv) Chem International, Inc. (“Chem”), a distributor of certain raw materials for DSM Nutritional Products LLC. |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Pronouncements Recently Adopted In May 2014, 2014 09, 606. 605, The core principle of the guidance is that an entity should recognize revenue to illustrate the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance also includes a cohesive set of disclosure requirements that will provide users of financial statements with comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from a reporting organization’s contracts with customers. During 2016, No. 2016 08, 2016 10 2016 12 July 1, 2018, 8 not In January 2016, No. 2016 01, 825 10 July 1, 2018, not In February 2016, No. 2016 02, 842 The standard will be effective for us beginning July 1, 2019, July 1, 2018. not Adoption of this standard resulted in the recognition of additional ROU assets and lease liabilities for operating leases and had the following impact to the reported results as of June 30, 2018 Consolidated Statement of Financial Condition As Reported New Lease Standard Adjustment As Adjusted Operating lease right-of-use assets $ - $ 69 $ 69 Operating lease right-of-use assets - Vitamin Realty, LLC - 3,668 3,668 Operating lease liabilities - 69 69 Operating lease liabilities - Vitamin Realty, LLC - 3,677 3,677 Current portion of long term debt, net 773 - 773 Long term debt, net 3,624 - 3,624 Current portion - Subordinated convertible note, net - CD Financial, LLC 5,269 - 5,269 In August, 2016, No. 2016 15, 230 July 1, 2018 not Aside from the adoption of ASUs, as described above and the Leases policy described below, there have been no 2019 10 June 30, 2018. |
Revenue from Contract with Customer [Policy Text Block] | Sales. |
Other Income [Policy Text Block] | Other Income. |
Lessee, Leases [Policy Text Block] | Leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of our leases do not may We have lease agreements with lease and non-lease components, which are generally accounted for separately. For certain equipment leases, such as vehicles, we account for the lease and non-lease components as a single lease component. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share. The following options and potentially dilutive shares for convertible note payable (See Note 4. not three September 30, 2018 2017: Three Months Ended September 30, 2018 2017 Anti-dilutive stock options 150,000 2,692,017 Anti-dilutive shares for convertible notes payable - 8,230,769 Total anti-dilutive shares 150,000 10,922,786 Additionally, in the three September 30, 2018, 8,230,769 July 24, 2018 4. |
Note 1 - Principles of Consol_2
Note 1 - Principles of Consolidation and Basis of Presentation (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Consolidated Statement of Financial Condition As Reported New Lease Standard Adjustment As Adjusted Operating lease right-of-use assets $ - $ 69 $ 69 Operating lease right-of-use assets - Vitamin Realty, LLC - 3,668 3,668 Operating lease liabilities - 69 69 Operating lease liabilities - Vitamin Realty, LLC - 3,677 3,677 Current portion of long term debt, net 773 - 773 Long term debt, net 3,624 - 3,624 Current portion - Subordinated convertible note, net - CD Financial, LLC 5,269 - 5,269 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended September 30, 2018 2017 Anti-dilutive stock options 150,000 2,692,017 Anti-dilutive shares for convertible notes payable - 8,230,769 Total anti-dilutive shares 150,000 10,922,786 |
Note 2 - Inventories (Tables)
Note 2 - Inventories (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, June 30, 2018 2018 Raw materials $ 6,409 $ 4,179 Work-in-process 2,131 2,207 Finished goods 1,060 1,355 Total $ 9,600 $ 7,741 |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment, Net (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, June 30, 2018 2018 Land and building $ 1,250 $ 1,250 Leasehold improvements 1,268 1,268 Machinery and equipment 5,931 5,917 Transportation equipment 6 6 8,455 8,441 Less: Accumulated depreciation and amortization (6,851 ) (6,790 ) Total $ 1,604 $ 1,651 |
Note 4 - Senior Credit Facili_2
Note 4 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long Term Debt (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Principal Amount Interest Rate Maturity Date As of September 30, 2018 As of June 30, 2018 Revolving advances under Senior Credit Facility with PNC Bank, National Association $ 4,699 $ 4,894 5.25 % 2/19/2020 Installment Note with PNC Bank 1,511 1,672 5.75 % 2/19/2020 Installment Note with PNC Equipment Finance 78 101 4.57 % 7/29/2019 Promissory Note with CD Financial, LLC 1,714 1,714 6.00 % 2/29/2020 Promissory Note with Vitamin Realty, LLC 686 686 4.00 % 2/29/2020 Capitalized lease obligations 220 269 3.86% -9.26% 3/17/2019-12/8/2020 Total outstanding debt 8,908 9,336 Less: Revolving Advances (4,699 ) (4,894 ) Prepaid financing costs (39 ) (45 ) Current portion of long term debt, net (851 ) (773 ) Long term debt, net $ 3,319 $ 3,624 Convertible Note payable - CD Financial, LLC $ - $ 5,350 6.00 % 7/24/2018 Less: Discount for embedded derivative - (66 ) Prepaid financing costs - (15 ) Convertible Note payable, net - CD Financial, LLC $ - $ 5,269 |
Note 6 - Leases and Other Com_2
Note 6 - Leases and Other Commitments and Contingencies (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Related Party - Vitamin Realty Other Leases Totals Operating lease costs $ - $ 19 $ 19 Finance Operating Lease Costs: Amortization of right-of use assets $ 107 $ 5 $ 112 Interest on operating lease liabilities 35 1 36 Total finance lease cost $ 142 $ 6 $ 148 |
Leases and Remaining Commitments [Table Text Block] | Right-of-use Assets Operating Lease Obligations Remaining Cash Commitment Vitamin Realty Leases $ 3,561 $ 3,569 $ 4,092 Machinery and equipment leases 34 34 36 Office equipment leases 31 31 33 $ 3,626 $ 3,634 $ 4,161 |
Supplemental Cash Flow Information, Leases [Table Text Block] | Related Party - Vitamin Realty Other Leases Totals Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ - $ 19 $ 19 Operating cash flows from finance leases 94 5 99 Financing cash flows from capital lease obligations - 50 50 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Related Party Year ending Operating Lease Operating Lease June 30, Commitment Commitment Total 2019, remaining $ 18 $ 424 $ 442 2020 22 565 587 2021 21 565 586 2022 8 565 573 2023 - 565 565 2024 - 564 564 Thereafter - 844 844 Total minimum lease payments 69 4,092 4,161 Imputed interest (4 ) (523 ) (527 ) Total $ 65 $ 3,569 $ 3,634 |
Note 8 - Segment Information _2
Note 8 - Segment Information and Dissaggregated Revenue (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Sales, Net Segment U.S. International Gross Capital Customers Customers Total Profit Depreciation Expenditures Contract 2018 $ 8,655 $ 1,197 $ 9,852 $ 1,083 $ 65 $ 18 Manufacturing 2017 7,822 1,583 9,405 835 74 93 Branded Proprietary 2018 71 7 78 21 - - Products 2017 19 11 30 32 1 13 Other Nutraceutical 2018 339 35 374 115 1 - Businesses 2017 271 64 335 138 - 1 Total 2018 9,065 1,239 10,304 1,219 66 18 Company 2017 8,112 1,658 9,770 1,005 75 107 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | Total Assets as of September 30, June 30, 2018 2018 Contract Manufacturing $ 17,339 $ 12,200 Branded Proprietary Products 665 543 Other Nutraceutical Businesses 1,715 1,825 Total Company $ 19,724 $ 14,568 |
Note 1 - Principles of Consol_3
Note 1 - Principles of Consolidation and Basis of Presentation (Details Textual) - shares | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Incremental Common Shares Attributable to Conversion of Debt Securities, Total | 8,230,769 |
Note 1 - Principles of Consol_4
Note 1 - Principles of Consolidation of Basis of Presentation - Adjustment to Financial Statement From Adoption of ASU 2016-02 (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jul. 01, 2018 | Jun. 30, 2018 |
Operating lease right-of-use assets | $ 3,626 | ||
Operating Lease, Liability, Noncurrent | 3,634 | ||
Current portion of long term debt, net | 851 | $ 773 | $ 773 |
Long term debt, net | 8,908 | 3,624 | 9,336 |
Current portion - Subordinated convertible note, net - CD Financial, LLC | 5,269 | 5,269 | |
Vitamin Realty LLC [Member] | |||
Operating lease right-of-use assets | 3,561 | 3,668 | |
Operating Lease, Liability, Noncurrent | 3,569 | 3,677 | |
Unrelated Party [Member] | |||
Operating lease right-of-use assets | 65 | 69 | |
Operating Lease, Liability, Noncurrent | $ 65 | 69 | |
Accounting Standards Update 2016-02 [Member] | |||
Current portion of long term debt, net | 773 | ||
Long term debt, net | 3,624 | ||
Current portion - Subordinated convertible note, net - CD Financial, LLC | 5,269 | ||
Accounting Standards Update 2016-02 [Member] | Vitamin Realty LLC [Member] | |||
Operating lease right-of-use assets | 3,668 | ||
Operating Lease, Liability, Noncurrent | 3,677 | ||
Accounting Standards Update 2016-02 [Member] | Unrelated Party [Member] | |||
Operating lease right-of-use assets | 69 | ||
Operating Lease, Liability, Noncurrent | $ 69 |
Note 1 - Principles of Consol_5
Note 1 - Principles of Consolidation and Basis of Presentation - Antidilutive Securities Excluded From Weighted Average Diluted Common Shares Outstanding (Details) - shares | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Anti-dilutive securities (in shares) | 150,000 | 10,922,786 |
Employee Stock Option [Member] | ||
Anti-dilutive securities (in shares) | 150,000 | 2,692,017 |
Convertible Debt Securities [Member] | ||
Anti-dilutive securities (in shares) | 8,230,769 |
Note 2 - Inventories - Inventor
Note 2 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 |
Raw materials | $ 6,409 | $ 4,179 |
Work-in-process | 2,131 | 2,207 |
Finished goods | 1,060 | 1,355 |
Total | $ 9,600 | $ 7,741 |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Depreciation, Total | $ 66 | $ 75 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 |
Property and equipment, gross | $ 8,455 | $ 8,441 |
Less: Accumulated depreciation and amortization | (6,851) | (6,790) |
Total | 1,604 | 1,651 |
Land and Building [Member] | ||
Property and equipment, gross | 1,250 | 1,250 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 1,268 | 1,268 |
Machinery and Equipment [Member] | ||
Property and equipment, gross | 5,931 | 5,917 |
Transportation Equipment [Member] | ||
Property and equipment, gross | $ 6 | $ 6 |
Note 4 - Senior Credit Facili_3
Note 4 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long Term Debt (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jul. 31, 2018 | Feb. 19, 2016 | Sep. 30, 2018 | Jun. 30, 2018 | Jun. 27, 2012 | Feb. 21, 2008 |
Debt Instrument, Periodic Payment, Total | $ 41 | |||||
CD Financial LLC [Member] | ||||||
Debt Instrument, Convertible, Conversion Price | $ 0.65 | |||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 8,230,769 | |||||
CD Financial LLC [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 9.50% | ||||
Debt Instrument, Face Amount | $ 4,500 | |||||
Convertible Notes Payable, Total | $ 5,350 | |||||
Debt Instrument, Convertible, Conversion Price | $ 0.65 | |||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 9 | |||||
CD Financial LLC [Member] | Default Rate [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||
Vitamin Realty LLC [Member] | ||||||
Debt Instrument, Face Amount | $ 686 | |||||
Revolving Credit Facility [Member] | Eurodollar [Member] | ||||||
Line of Credit Facility, Interest Rate at Period End | 5.25% | 5.00% | ||||
Term Loan [Member] | Eurodollar [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 3.25% | |||||
Line of Credit Facility, Interest Rate at Period End | 5.75% | 5.50% | ||||
Amended Loan Agreement [Member] | ||||||
Senior Notes, Total | $ 11,422 | |||||
Loans Payable, Noncurrent, Total | $ 3,422 | |||||
Line of Credit Facility Covenant Prepayment Provisions Percentage of Excess Cash flow | 25.00% | 25.00% | ||||
Amended Loan Agreement [Member] | Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 8,000 | |||||
Amended Loan Agreement [Member] | Revolving Credit Facility [Member] | Eurodollar [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | |||||
Term Loan [Member] | Scenario Event of Default [Member] | ||||||
Debt Instrument, Interest Rate, Increase (Decrease) | 2.00% | |||||
Number of Consecutive Monthly Installments | 84 | |||||
Number of Consecutive Monthly Installments, Fixed Amount | 83 | |||||
Revolving Advances [Member] | ||||||
Line of Credit Facility Covenant Maximum Aggregate Revolving Advance | $ 8,000 | |||||
Line of Credit Facility Covenant Aggregate Revolving Advance Receivables Advance Rate | 85.00% | |||||
Line of Credit Facility Covenant Aggregate Revolving Advance Inventory Advance Rate | 75.00% | |||||
Promissory Note [Member] | CD Financial LLC [Member] | ||||||
Debt Instrument, Face Amount | $ 1,714 | |||||
E. Gerald Kay [Member] | Vitamin Realty LLC [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% |
Note 4 - Senior Credit Facili_4
Note 4 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long Term Debt - Debt Outstanding (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2018 | Jul. 01, 2018 | Jun. 30, 2018 | |
Capitalized lease obligations | $ 220 | $ 269 | |
Total outstanding debt | 8,908 | $ 3,624 | 9,336 |
Prepaid financing costs | (39) | (45) | |
Current portion of long term debt, net | (851) | $ (773) | (773) |
Long term debt, net | $ 3,319 | 3,624 | |
Convertible Debt [Member] | |||
Interest Rate | 6.00% | ||
Maturity Date | Jul. 24, 2018 | ||
Notes Payable | 5,350 | ||
Prepaid financing costs | (15) | ||
Less: Discount for embedded derivative | (66) | ||
Convertible Note payable, net - CD Financial, LLC | 5,269 | ||
Minimum [Member] | |||
Capitalized lease obligations, interest rate | 3.86% | ||
Capitalized lease obligations, maturity start date | Mar. 17, 2019 | ||
Maximum [Member] | |||
Capitalized lease obligations, interest rate | 9.26% | ||
Capitalized lease obligations, maturity end date | Dec. 8, 2020 | ||
Revolving Advances [Member] | |||
Line of Credit Facility | $ 4,699 | 4,894 | |
Interest Rate | 5.25% | ||
Maturity Date | Feb. 19, 2020 | ||
Less: Revolving Advances | $ (4,699) | (4,894) | |
Installment Note with PNC Bank [Member] | |||
Interest Rate | 5.75% | ||
Maturity Date | Feb. 19, 2020 | ||
Notes Payable | $ 1,511 | 1,672 | |
PNC Equipment Finance LLC [Member] | |||
Interest Rate | 4.57% | ||
Maturity Date | Jul. 29, 2019 | ||
Notes Payable | $ 78 | 101 | |
CD Financial LLC [Member] | |||
Interest Rate | 6.00% | ||
Maturity Date | Feb. 29, 2020 | ||
Notes Payable | $ 1,714 | 1,714 | |
Vitamin Realty LLC [Member] | |||
Interest Rate | 4.00% | ||
Maturity Date | Feb. 29, 2020 | ||
Notes Payable | $ 686 | $ 686 |
Note 5 - Significant Risks an_2
Note 5 - Significant Risks and Uncertainties (Details Textual) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | |
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | |||
Number of Major Customers | 2 | ||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Contract Manufacturing [Member] | |||
Number of Major Customers | 2 | ||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Two Customers [Member] | |||
Concentration Risk, Percentage | 89.00% | 91.00% | |
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Major Customer 1 [Member] | Contract Manufacturing [Member] | |||
Concentration Risk, Percentage | 61.00% | 63.00% | |
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Major Customer 1 [Member] | Branded Nutraceutical [Member] | |||
Concentration Risk, Percentage | 10.00% | ||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Major Customer 2 [Member] | Contract Manufacturing [Member] | |||
Concentration Risk, Percentage | 29.00% | 32.00% | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||
Number of Major Customers | 2 | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member] | |||
Concentration Risk, Percentage | 89.00% | 87.00% | |
Number of Employees, Geographic Area [Member] | Unionized Employees Concentration Risk [Member] | |||
Concentration Risk, Percentage | 67.00% |
Note 6 - Leases and Other Com_3
Note 6 - Leases and Other Commitments and Contingencies (Details Textual) $ in Thousands | May 19, 2014USD ($)ft² | Jan. 05, 2012USD ($)ft² | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Jul. 01, 2018USD ($) | Jun. 30, 2018USD ($) | May 15, 2012USD ($) |
Operating Leases, Rent Expense, Net, Total | $ 239 | $ 242 | |||||
Operating Lease, Liability, Noncurrent | $ 3,634 | ||||||
Lessee, Operating Lease, Discount Rate | 3.76% | ||||||
Operating Lease, Weighted Average Remaining Lease Term | 7 years 36 days | ||||||
Stock Purchase Agreement [Member] | |||||||
Loss Contingency, Estimate of Possible Loss | $ 600 | ||||||
Environmental Issues [Member] | |||||||
Loss Contingency, Estimate of Possible Loss | $ 300 | ||||||
Manhattan Drug Company [Member] | |||||||
Payments for Rent | $ 533 | ||||||
AgroLabs [Member] | |||||||
Area of Real Estate Property | ft² | 2,700 | ||||||
Payments for Rent | $ 27 | ||||||
Chairman, Chief Executive Office and Major Stockholder [Member] | |||||||
Percent of Ownership for Warehouse and Office Facilities Leased | 100.00% | ||||||
Vitamin Realty LLC [Member] | |||||||
Operating Leases, Rent Expense, Net, Total | $ 202 | $ 201 | |||||
Accrued Rent | 763 | $ 827 | |||||
Operating Lease, Liability, Noncurrent | $ 3,569 | $ 3,677 | |||||
Minimum [Member] | |||||||
Lessee, Lease, Term of Contract | 1 year | ||||||
Minimum [Member] | Manhattan Drug Company [Member] | |||||||
Area of Real Estate Property | ft² | 74,898 | ||||||
Maximum [Member] | |||||||
Lessee, Lease, Term of Contract | 8 years | ||||||
Maximum [Member] | Manhattan Drug Company [Member] | |||||||
Area of Real Estate Property | ft² | 76,161 |
Note 6 - Leases and Other Com_4
Note 6 - Leases and Other Commitments and Contingencies - Lease Expense (Details) $ in Thousands | 3 Months Ended |
Sep. 30, 2018USD ($) | |
Operating lease costs | $ 19 |
Amortization of right-of use assets | 112 |
Interest on operating lease liabilities | 36 |
Total finance lease cost | 148 |
Unrelated Party [Member] | |
Operating lease costs | 19 |
Amortization of right-of use assets | 5 |
Interest on operating lease liabilities | 1 |
Total finance lease cost | 6 |
Vitamin Realty LLC [Member] | |
Operating lease costs | |
Amortization of right-of use assets | 107 |
Interest on operating lease liabilities | 35 |
Total finance lease cost | $ 142 |
Note 6 - Leases and Other Com_5
Note 6 - Leases and Other Commitments and Contingencies - Leases and Commitments (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jul. 01, 2018 | Jun. 30, 2018 |
Right-of-use assets | $ 3,626 | ||
Operating lease obligations | 3,634 | ||
Remaining cash commitment | 4,161 | ||
Machinery and Equipment Leases [Member] | |||
Right-of-use assets | 34 | ||
Operating lease obligations | 34 | ||
Remaining cash commitment | 36 | ||
Office Equipment Leases [Member] | |||
Right-of-use assets | 31 | ||
Operating lease obligations | 31 | ||
Remaining cash commitment | 33 | ||
Vitamin Realty LLC [Member] | |||
Right-of-use assets | 3,561 | $ 3,668 | |
Operating lease obligations | 3,569 | $ 3,677 | |
Remaining cash commitment | $ 4,092 |
Note 6 - Leases and Other Com_6
Note 6 - Leases and Other Commitments and Contingencies - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Operating cash flows from operating leases | $ 19 | |
Operating cash flows from finance leases | 99 | |
Financing cash flows from capital lease obligations | 50 | $ 30 |
Unrelated Party [Member] | ||
Operating cash flows from operating leases | 19 | |
Operating cash flows from finance leases | 5 | |
Financing cash flows from capital lease obligations | 50 | |
Vitamin Realty LLC [Member] | ||
Operating cash flows from operating leases | ||
Operating cash flows from finance leases | 94 | |
Financing cash flows from capital lease obligations |
Note 6 - Leases and Other Com_7
Note 6 - Leases and Other Commitments and Contingencies - Minimum Rental Commitment for Long-term Non-cancelable Leases (Details) $ in Thousands | Sep. 30, 2018USD ($) |
2019, remaining | $ 442 |
2,020 | 587 |
2,021 | 586 |
2,022 | 573 |
2,023 | 565 |
2,024 | 564 |
Thereafter | 844 |
Total minimum lease payments | 4,161 |
Imputed interest | (527) |
Total | 3,634 |
Vitamin Realty LLC [Member] | |
2019, remaining | 424 |
2,020 | 565 |
2,021 | 565 |
2,022 | 565 |
2,023 | 565 |
2,024 | 564 |
Thereafter | 844 |
Total minimum lease payments | 4,092 |
Imputed interest | (523) |
Total | 3,569 |
Unrelated Party [Member] | |
2019, remaining | 18 |
2,020 | 22 |
2,021 | 21 |
2,022 | 8 |
2,023 | |
2,024 | |
Thereafter | |
Total minimum lease payments | 69 |
Imputed interest | (4) |
Total | $ 65 |
Note 8 - Segment Information _3
Note 8 - Segment Information and Dissaggregated Revenue (Details Textual) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | |
Number of Reportable Segments | 3 | |
Revenues, Total | $ 10,304 | $ 9,770 |
Europe and Canada [Member] | ||
Revenues, Total | $ 1,239 | $ 1,658 |
Note 8 - Segment Information -
Note 8 - Segment Information - Operations by Business Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Sales, net | $ 10,304 | $ 9,770 |
Gross Profit | 1,219 | 1,005 |
Depreciation | 66 | 75 |
Capital Expenditures | 18 | 107 |
UNITED STATES | ||
Sales, net | 9,065 | 8,112 |
International Customers [Member] | ||
Sales, net | 1,239 | 1,658 |
Contract Manufacturing [Member] | ||
Sales, net | 9,852 | 9,405 |
Gross Profit | 1,083 | 835 |
Depreciation | 65 | 74 |
Capital Expenditures | 18 | 93 |
Contract Manufacturing [Member] | UNITED STATES | ||
Sales, net | 8,655 | 7,822 |
Contract Manufacturing [Member] | International Customers [Member] | ||
Sales, net | 1,197 | 1,583 |
Branded Proprietary Products [Member] | ||
Sales, net | 78 | 30 |
Gross Profit | 21 | 32 |
Depreciation | 1 | |
Capital Expenditures | 13 | |
Branded Proprietary Products [Member] | UNITED STATES | ||
Sales, net | 71 | 19 |
Branded Proprietary Products [Member] | International Customers [Member] | ||
Sales, net | 7 | 11 |
Other Nutraceutical Business [Member] | ||
Sales, net | 374 | 335 |
Gross Profit | 115 | 138 |
Depreciation | 1 | |
Capital Expenditures | 1 | |
Other Nutraceutical Business [Member] | UNITED STATES | ||
Sales, net | 339 | 271 |
Other Nutraceutical Business [Member] | International Customers [Member] | ||
Sales, net | $ 35 | $ 64 |
Note 8 - Segment Information _4
Note 8 - Segment Information - Total Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 |
Total Assets | $ 19,724 | $ 14,568 |
Contract Manufacturing [Member] | ||
Total Assets | 17,339 | 12,200 |
Branded Proprietary Products [Member] | ||
Total Assets | 665 | 543 |
Other Nutraceutical Business [Member] | ||
Total Assets | $ 1,715 | $ 1,825 |