Electromed (ELMD) 10-Q 10 Nov 15 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2015	Nov. 05, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Registrant Name	Electromed, Inc.
Entity Central Index Key	1,488,917
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		8,163,857

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Current Assets
Cash	$ 3,782,977	$ 3,598,240
Accounts receivable (net of allowances for doubtful accounts of $45,000)	6,457,302	6,518,816
Inventories	2,155,305	2,072,108
Prepaid expenses and other current assets	501,036	397,833
Total current assets	12,896,620	12,586,997
Property and equipment, net	3,571,833	3,635,516
Finite-life intangible assets, net	975,149	999,842
Other assets	181,762	182,699
Total assets	17,625,364	17,405,054
Current Liabilities
Current maturities of long-term debt	49,409	48,749
Accounts payable	522,011	538,518
Accrued compensation	501,135	700,370
Income tax payable	147,181	122,657
Warranty reserve	630,000	660,000
Other accrued liabilities	282,258	208,983
Total current liabilities	2,131,994	2,279,277
Long-term debt, less current maturities	1,189,928	1,202,446
Total liabilities	$ 3,321,922	$ 3,481,723
Commitments and Contingencies
Equity
Common stock, $0.01 par value; authorized: 13,000,000; shares issued and outstanding: 8,163,857 and 8,133,857 at September 30, 2015 and June 30, 2015, respectively	$ 81,639	$ 81,339
Additional paid-in capital	13,366,169	13,327,320
Retained earnings	855,634	514,672
Total shareholders' equity	14,303,442	13,923,331
Total liabilities and shareholders' equity	$ 17,625,364	$ 17,405,054

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Condensed Balance Sheets [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 45,000	$ 45,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	13,000,000	13,000,000
Common stock, shares issued	8,163,857	8,133,857
Common stock, shares outstanding	8,163,857	8,133,857

Condensed Statements Of Operati

Condensed Statements Of Operations - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Condensed Statements Of Operations [Abstract]
Net revenues	$ 5,001,188	$ 4,770,539
Cost of revenues	1,141,758	1,475,797
Gross profit	3,859,430	3,294,742
Operating expenses
Selling, general and administrative	3,232,719	2,821,495
Research and development	41,543	75,265
Total operating expenses	3,274,262	2,896,760
Operating income	585,168	397,982
Interest expense, net of interest income of $624 and $1,212 respectively	20,206	20,453
Net income before income taxes	564,962	377,529
Income tax expense	(224,000)	0
Net income	$ 340,962	$ 377,529
Income per share:
Basic	$ 0.04	$ 0.05
Diluted	$ 0.04	$ 0.05
Weighted-average common shares outstanding:
Basic	8,133,857	8,114,252
Diluted	8,173,684	8,114,252

Condensed Statements Of Operat5

Condensed Statements Of Operations (Parenthetical) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Condensed Statements Of Operations [Abstract]
Interest income	$ 624	$ 1,212

Condensed Statements Of Cash Fl

Condensed Statements Of Cash Flows - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Cash Flows From Operating Activities
Net income	$ 340,962	$ 377,529
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	154,849	155,341
Amortization of finite-life intangible assets	30,674	30,892	$ 123,000
Amortization of debt issuance costs	4,664	4,942
Share-based compensation expense	39,149	15,089
Loss on disposal of property and equipment and intangibles assets	24,965	18,824
Changes in operating assets and liabilities:
Accounts receivable	61,514	125,578
Inventories	(67,144)	(7,702)
Prepaid expenses and other assets	(106,930)	(80,750)
Accounts payable and accrued liabilities	(171,273)	314,901
Net cash provided by operating activities	311,430	954,644
Cash Flows From Investing Activities
Expenditures for property and equipment	(101,006)	(156,669)
Expenditures for finite-life intangible assets	(13,829)	(9,320)
Net cash used in investing activities	(114,835)	(165,989)
Cash Flows From Financing Activities
Principal payments on long-term debt including capital lease obligations	(11,858)	(11,231)
Net increase in cash	184,737	777,424
Cash
Beginning of period	3,598,240	1,502,702	1,502,702
End of period	$ 3,782,977	$ 2,280,126	$ 3,598,240

Interim Financial Reporting

Interim Financial Reporting	3 Months Ended
	Sep. 30, 2015
Interim Financial Reporting [Abstract]
Interim Financial Reporting	Note 1. Interim Financial Reporting Basis of presentation: 120,000 399,000 The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles for interim financial statements and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. In the opinion of management, the accompanying unaudited condensed financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of the Company's financial position and results of operations as required by Regulation S-X. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. The financial statements and related notes do not include all information and footnotes required by U.S. generally accepted accounting principles for annual reports. This interim report should be read in conjunction with the financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2015 ("fiscal 2015"). A summary of the Company's significant accounting policies follows: Use of estimates: Net income per common share: 449,300 684,900 New Accounting Pronouncements: In April 2015, the FASB issued ASU 2015-03, "Simplifying the Presentation of Debt Issuance Costs." This standard, which will become effective July 1, 2016 for the Company, requires that debt issuance costs be presented as a direct deduction from the carrying amount of long-term debt on the balance sheet. The new guidance aligns the presentation of debt issuance costs with debt discounts and premiums. The standard is to be applied retrospectively to all prior periods presented. As of September 30, 2015, the Company had approximately $ 16,000 In July 2015, the FASB issued ASU 2015-11, "Inventory (Topic 330) Related to Simplifying the Measurement of Inventory," that applies to all inventory except that which is measured using last-in, first-out (LIFO) or the retail inventory method. Inventory measured using first-in, first-out (FIFO) or average cost is within the scope of the new guidance and should be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable cost of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO of the retail inventory method. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The new guidance should be applied prospectively, and earlier application is permitted as of the beginning of an interim or annual reporting period. The Company is evaluating the impact of the standard on its financial statements. Reclassifications:

Inventories

Inventories	3 Months Ended
	Sep. 30, 2015
Inventories [Abstract]
Inventories	Note 2. Inventories The components of inventory were approximately as follows: September 30, 2015 June 30, 2015 Parts inventory $ 1,488,000 $ 1,527,000 Work in process 223,000 245,000 Finished goods 584,000 440,000 Less: Reserve for obsolescence (140,000 ) (140,000 ) Total $ 2,155,000 $ 2,072,000

Finite-Life Intangible Assets

Finite-Life Intangible Assets	3 Months Ended
	Sep. 30, 2015
Finite-Life Intangible Assets [Abstract]
Finite-Life Intangible Assets	Note 3. Finite-life Intangible Assets The carrying value of patents and trademarks includes the original cost of obtaining the patents, periodic renewal fees, and other costs associated with maintaining and defending patent and trademark rights. Patents and trademarks are amortized over their estimated useful lives, generally 15 12 8,000 32,000 728,000 698,000 The activity and balances of finite-life intangible assets were approximately as follows: September 30, 2015 June 30, 2015 Balance, beginning $ 1,000,000 $ 1,039,000 Additions 14,000 116,000 Abandonments (8,000 ) (32,000 ) Amortization expense (31,000 ) (123,000 ) Balance, ending $ 975,000 $ 1,000,000

Warranty Liability

Warranty Liability	3 Months Ended
	Sep. 30, 2015
Warranty Liability [Abstract]
Warranty Liability	Note 4.Warranty Liability The Company provides a lifetime warranty on its products to the prescribed patient for sales within the United States and a three Changes in the Company's warranty liability were approximately as follows: Three Months Ended Fiscal Year Ended Beginning warranty reserve $ 660,000 $ 700,000 Accrual for products sold 5,000 139,000 Expenditures and costs incurred for warranty claims (35,000 ) (179,000 ) Ending warranty reserve $ 630,000 $ 660,000

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2015
Income Taxes [Abstract]
Income Taxes	Note 5. Income Taxes On a quarterly basis, the Company estimates its effective tax rate for the full fiscal year and records a quarterly income tax provision based on the anticipated rate. As the year progresses, the Company refines its estimate based on the facts and circumstances by each tax jurisdiction. Income tax expense was estimated at approximately $224,000 and the effective tax rate was 39.4 For the three months ended September 30, 2014, the Company recorded zero zero zero 155,000 During fiscal 2014, the Company recorded a full valuation allowance against all of its net US federal and state deferred tax assets. The Company assesses whether a valuation allowance should be established against its deferred tax assets based on consideration of all available evidence, using a "more likely than not" standard. In assessing the need for a valuation allowance, the Company considered both positive and negative evidence related to the likelihood of realization of deferred tax assets. In making such assessments, more weight was given to evidence that could be objectively verified. The Company's cumulative losses were given more weight than its recent profits and future outlook. Under this approach the cumulative losses is significant negative evidence that impairs the Company's ability to rely on future taxable income projections in determining whether a valuation allowance is appropriate. Future sources of taxable income considered in determining the amount of recorded valuation allowance include: • Taxable income in prior carryback years, if carryback is permitted under the tax law; • Future reversals of existing taxable temporary differences, excluding those related to indefinite-lived intangible assets; • Tax planning strategies; and • Future taxable income exclusive of reversing temporary differences and carryforwards. On a quarterly basis, the Company evaluates all positive and negative evidence, as discussed above, in determining if the valuation allowance is fairly stated. Based on the evaluation of these factors, the Company determined that a full valuation allowance remains appropriate at September 30, 2015. However, given the Company's current earnings and anticipated future earnings, it believes that there is a reasonable possibility that within the next 12 months, sufficient positive evidence may become available to allow it to reach a conclusion that a significant portion, if not all, of the valuation allowance will no longer be needed. Release of the valuation allowance would result in the recognition of certain net deferred tax assets and a decrease to income tax expense for the period the release is recorded. The exact timing and amount of the valuation allowance release are subject to change on the basis of the level of profitability that the Company is able to actually achieve.

Financing Arrangements And Subs

Financing Arrangements And Subsequent Event	3 Months Ended
	Sep. 30, 2015
Financing Arrangements And Subsequent Event [Abstract]
Financing Arrangements And Subsequent Event	Note 6. Financing Arrangements and Subsequent Event The Company has a $ 2,500,000 no 1.00 4.50 December 18, 2015 2,500,000 57.00 4.50 effect and the maximum $ 2,500,000 In connection with the line of credit, the Company also has a term loan with Venture Bank, which had an outstanding principal balance of approximately $ 1,231,000 5.00 8,600 1,090,000 December 18, 2018 The documents governing the line of credit and term loan with Venture Bank contain certain financial and nonfinancial covenants that include a minimum tangible net worth covenant of not less than $ 10,125,000 Subsequent to the end of the period, on November 5, 2015, the Company renewed the line of credit with Venture Bank for an additional year, such that it will be scheduled to expire on December 18, 2016 December 18, 2015 no

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Sep. 30, 2015
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 7.Stock-Based Compensation The Company recorded $35,399, and $15,089 211,000 1.6 Stock Options The Company issued 143,500 stock options pursuant to its 2014 Stock Compensation Plan during the three-month period ended September 30, 2015. The following is a summary of employee stock option activity during the three months ended September 30, 2015: Number of shares Weighted average Outstanding at June 30, 2015 450,800 $ 2.80 Granted 143,500 $ 1.80 Exercised — — Cancelled or Forfeited — — Outstanding at September 30, 2015 594,300 $ 2.56 The intrinsic value of an option is the amount by which the fair value of the underlying stock exceeds its exercise price. At September 30, 2015, the weighted average remaining contractual term for all outstanding stock options was 4.31 47,000 190,000 44,100 389,000 $22,000 Restricted Stock The Company's 2014 Stock Compensation Plan permits its Compensation Committee to grant other stock-based awards. The Company makes restricted stock grants to key employees and non-employee directors that vest over six months to three years. During the three-month period ended September 30, 2015, the Company issued to employees restricted stock awards totaling 30,000 shares of common stock, with a vesting term of one three Number of shares Weighted average Unvested shares at June 30, 2015 — — Granted 30,000 $ 1.80 Vested — — Forfeited — — Unvested at September 30, 2015 30,000 $ 1.80

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Sep. 30, 2015
Commitments And Contingencies [Abstract]
Commitments And Contingencies	Note 8.Commitments and Contingencies The Company is occasionally involved in claims and disputes arising in the ordinary course of business. The Company insures its business risks where possible to mitigate the financial impact of individual claims, and establishes reserves for an estimate of any probable cost of settlement or other disposition.

Interim Financial Reporting (Po

Interim Financial Reporting (Policy)	3 Months Ended
	Sep. 30, 2015
Interim Financial Reporting [Abstract]
Nature Of Business	Electromed, Inc. (the "Company") develops, manufactures and markets innovative airway clearance products that apply High Frequency Chest Wall Oscillation ("HFCWO") therapy in pulmonary care for patients of all ages. The Company markets its products in the United States to the home health care and institutional markets for use by patients in personal residences, hospitals and clinics. The Company also sells internationally both directly and through distributors. International sales were approximately $120,000 and $399,000 for the three months ended September 30, 2015 and 2014, respectively. Since its inception, the Company has operated in a single industry segment: developing, manufacturing and marketing medical equipment.
Basis Of Presentation	The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles for interim financial statements and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. In the opinion of management, the accompanying unaudited condensed financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of the Company's financial position and results of operations as required by Regulation S-X. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. The financial statements and related notes do not include all information and footnotes required by U.S. generally accepted accounting principles for annual reports. This interim report should be read in conjunction with the financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2015 ("fiscal 2015").
Use Of Estimates	Use of estimates:
Net Income Per Common Share	Net income per common share: 449,300 684,900
New Accounting Pronouncements	New Accounting Pronouncements: In April 2015, the FASB issued ASU 2015-03, "Simplifying the Presentation of Debt Issuance Costs." This standard, which will become effective July 1, 2016 for the Company, requires that debt issuance costs be presented as a direct deduction from the carrying amount of long-term debt on the balance sheet. The new guidance aligns the presentation of debt issuance costs with debt discounts and premiums. The standard is to be applied retrospectively to all prior periods presented. As of September 30, 2015, the Company had approximately $ 16,000 In July 2015, the FASB issued ASU 2015-11, "Inventory (Topic 330) Related to Simplifying the Measurement of Inventory," that applies to all inventory except that which is measured using last-in, first-out (LIFO) or the retail inventory method. Inventory measured using first-in, first-out (FIFO) or average cost is within the scope of the new guidance and should be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable cost of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO of the retail inventory method. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The new guidance should be applied prospectively, and earlier application is permitted as of the beginning of an interim or annual reporting period. The Company is evaluating the impact of the standard on its financial statements.
Reclassifications	Reclassifications:

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Sep. 30, 2015
Inventories [Abstract]
Schedule Of Components Of Inventory	September 30, 2015 June 30, 2015 Parts inventory $ 1,488,000 $ 1,527,000 Work in process 223,000 245,000 Finished goods 584,000 440,000 Less: Reserve for obsolescence (140,000 ) (140,000 ) Total $ 2,155,000 $ 2,072,000

Finite-Life Intangible Assets (

Finite-Life Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2015
Finite-Life Intangible Assets [Abstract]
Schedule Of Finite-Life Intangible Assets	September 30, 2015 June 30, 2015 Balance, beginning $ 1,000,000 $ 1,039,000 Additions 14,000 116,000 Abandonments (8,000 ) (32,000 ) Amortization expense (31,000 ) (123,000 ) Balance, ending $ 975,000 $ 1,000,000

Warranty Liability (Tables)

Warranty Liability (Tables)	3 Months Ended
	Sep. 30, 2015
Warranty Liability [Abstract]
Schedule Of Warranty Liability	Three Months Ended Fiscal Year Ended Beginning warranty reserve $ 660,000 $ 700,000 Accrual for products sold 5,000 139,000 Expenditures and costs incurred for warranty claims (35,000 ) (179,000 ) Ending warranty reserve $ 630,000 $ 660,000

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2015
Stock-Based Compensation [Abstract]
Schedule Of Employee Option Activity	Number of shares Weighted average Outstanding at June 30, 2015 450,800 $ 2.80 Granted 143,500 $ 1.80 Exercised — — Cancelled or Forfeited — — Outstanding at September 30, 2015 594,300 $ 2.56
Schedule Of Restricted Stock Activity	Number of shares Weighted average Unvested shares at June 30, 2015 — — Granted 30,000 $ 1.80 Vested — — Forfeited — — Unvested at September 30, 2015 30,000 $ 1.80

Interim Financial Reporting (Na

Interim Financial Reporting (Narrative) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Interim Financial Reportingss [Line Items]
Sales	$ 5,001,188	$ 4,770,539
Accounts receivable, allowance for doubtful accounts	$ 45,000		$ 45,000
Common stock equivalents excluded from calculation of diluted earnings per share	449,300	684,900
Unamortized debt issuance costs recorded in other non-current assets	$ 16,000
International [Member]
Interim Financial Reportingss [Line Items]
Sales	$ 120,000	$ 399,000

Inventories (Details)

Inventories (Details) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Inventories [Abstract]
Parts inventory	$ 1,488,000	$ 1,527,000
Work in process	223,000	245,000
Finished goods	584,000	440,000
Less: Reserve for obsolescence	(140,000)	(140,000)
Total	$ 2,155,305	$ 2,072,108

Finite-Life Intangible Assets22

Finite-Life Intangible Assets (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Net value of certain domestic and foreign patents that were abandoned	$ 8,000	$ 32,000
Accumulated amortization	$ 728,000	$ 698,000
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	15 years
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	12 years

Finite-Life Intangible Assets23

Finite-Life Intangible Assets (Schedule Of Finite-Life Intangible Assets) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Finite-Life Intangible Assets [Abstract]
Balance, beginning	$ 999,842	$ 1,039,000	$ 1,039,000
Additions	14,000		116,000
Abandonments	(8,000)		(32,000)
Amortization expense	(30,674)	$ (30,892)	(123,000)
Balance, ending	$ 975,149		$ 999,842

Warranty Liability (Narrative)

Warranty Liability (Narrative) (Details)	3 Months Ended
	Sep. 30, 2015
Outside United States [Member]
Warranty Liability [Line Items]
Warranty term	3 years

Warranty Liability (Schedule Of

Warranty Liability (Schedule Of Warranty Liability) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Warranty Liability [Abstract]
Beginning warranty reserve	$ 660,000	$ 700,000
Accrual for products sold	5,000	139,000
Expenditures and costs incurred for warranty claims	(35,000)	(179,000)
Ending warranty reserve	$ 630,000	$ 660,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Income Taxes [Abstract]
Effective tax rate	39.40%
Income tax expense (benefit)	$ 224,000	$ 0
Current tax expense (benefit)		0
Change in valuation allowance on deferred tax assets		$ 155,000

Financing Arrangements And Su27

Financing Arrangements And Subsequent Event (Narrative) (Details) - Venture Bank [Member] - USD ($)	Dec. 18, 2015	Sep. 30, 2015
Line of Credit Facility [Line Items]
Term loan		$ 1,231,000
Term loan, interest rate		5.00%
Monthly payments of principal and interest		$ 8,600
Final payment of principal and interest		$ 1,090,000
Term loan maturity date		Dec. 18, 2018
Minimum tangible net worth to be maintained		$ 10,125,000
Revolving Credit Facility, Expires December 2015 [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		2,500,000
Outstanding principal balance		$ 0
Amount added to prime rate for interest rate		1.00%
Interest rate, floor		4.50%
Effective interest rate including prime rate		4.50%
Borrowing restriction, revolving line of credit		$ 2,500,000
Borrowing restriction, percent of eligible accounts receivable		57.00%
Amount eligible for borrowing, revolving line of credit		$ 2,500,000
Credit facility expiration date		Dec. 18, 2015
Revolving Credit Facility, Expires December 2016 [Member]
Line of Credit Facility [Line Items]
Credit facility effective date		Dec. 18, 2015
Credit facility expiration date		Dec. 18, 2016
Subsequent Event [Member]
Line of Credit Facility [Line Items]
Interest rate, floor	0.00%

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 39,149	$ 15,089
Unrecognized compensation expense	$ 211,000
Unrecognized compensation expense, period for recognition	1 year 7 months 6 days
Employee Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted	143,500
Weighted average remaining contractual term	4 years 3 months 22 days
Aggregate intrinsic value	$ 47,000
Warrants outstanding	594,300		450,800
Options exercisable	389,000
Options exercisable, intrinsic value	$ 22,000
Granted, Weighted Average Grant Date Fair Value	$ 1.80
IPO [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares available for purchase	190,000
Convertible Debt With Warrants Attached [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants outstanding and exercisable	44,100
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units Granted, Number of Units	30,000
Minimum [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Maximum [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule Of Employee Option Activity) (Details) - Employee Options [Member]	3 Months Ended
	Sep. 30, 2015$ / sharesshares
Options outstanding, Number of Shares, Beginning Of Year	450,800
Granted, Number of Shares	143,500
Options outstanding, Number of Shares, End Of Year	594,300
Options outstanding, Weighted Average Grant Date Fair Value, Beginning Of Year | $ / shares	$ 2.80
Granted, Weighted Average Grant Date Fair Value | $ / shares	1.80
Options outstanding, Weighted-Average Exercise Price, End Of Year | $ / shares	$ 2.56

Stock-Based Compensation (Sch30

Stock-Based Compensation (Schedule Of Restricted Stock Activity) (Details) - Restricted Stock [Member]	3 Months Ended
	Sep. 30, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units Granted, Number of Units	30,000
Stock units outstanding, Number of Units, Ending Of Year	30,000
Stock units Granted, Weighted-Average Grant Date Fair Value per Share | $ / shares	$ 1.80
Stock units outstanding, Weighted-Average Grant Date Fair Value per Share, Ending Of Year | $ / shares	$ 1.80