NeoVolta (NEOV) 10-Q 10 May 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2024	May 10, 2024
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--06-30
Entity File Number	001-41447
Entity Registrant Name	NeoVolta, Inc.
Entity Central Index Key	0001748137
Entity Tax Identification Number	82-5299263
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	13651 Danielson Street
Entity Address, Address Line Two	Suite A
Entity Address, City or Town	Poway
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92064
City Area Code	(800)
Local Phone Number	364-5464
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		33,236,091
Common Stock, par value $0.001 per share
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	NEOV
Security Exchange Name	NASDAQ
Warrants, each warrant exercisable for one share of common stock
Title of 12(b) Security	Warrants, each warrant exercisable for one share of common stock
Trading Symbol	NEOVW
Security Exchange Name	NASDAQ

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 1,013,962	$ 2,002,789
Accounts receivable, net	1,886,555	1,826,385
Inventory	2,136,947	2,580,571
Prepaid insurance and other current assets	115,224	96,119
Total current assets	5,152,688	6,505,864
Total assets	5,152,688	6,505,864
Current liabilities:
Accounts payable	3,167	0
Accrued liabilities	11,884	39,491
Total current liabilities	15,051	39,491
Commitments and contingencies (Note 3)
Stockholders' equity:
Common stock, $0.001 par value, 100,000,000 shares authorized, 33,236,091 shares and 33,155,127 shares issued and outstanding, respectively	33,236	33,155
Additional paid-in capital	25,117,861	24,872,446
Accumulated deficit	(20,013,460)	(18,439,228)
Total stockholders' equity	5,137,637	6,466,373
Total liabilities and stockholders' equity	$ 5,152,688	$ 6,505,864

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	33,236,091	33,155,127
Common Stock, Shares, Outstanding	33,236,091	33,155,127

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenues from contracts with customers	$ 283,900	$ 629,010	$ 2,065,858	$ 2,733,951
Cost of goods sold	117,755	537,261	1,572,668	2,302,380
Gross profit	166,145	91,749	493,190	431,571
Operating expenses:
General and administrative	756,118	723,271	2,085,976	2,716,428
Research and development	10,392	1,290	10,392	29,936
Total operating expenses	766,510	724,561	2,096,368	2,746,364
Loss from operations	(600,365)	(632,812)	(1,603,178)	(2,314,793)
Other income (expense):
Interest income	10,892	0	28,946	0
Interest expense	0	0	0	(4,134)
Total other income (expense)	10,892	0	28,946	(4,134)
Net loss	$ (589,473)	$ (632,812)	$ (1,574,232)	$ (2,318,927)

Statements of Operations (Una_2

Statements of Operations (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Weighted Average Number of Shares Outstanding, Basic	33,236,091	33,151,685	33,205,766	31,650,491
Weighted Average Number of Shares Outstanding, Diluted	33,236,091	33,151,685	33,205,766	31,650,491
Earnings Per Share, Basic	$ (0.02)	$ (0.02)	$ (0.05)	$ (0.07)
Earnings Per Share, Diluted	$ (0.02)	$ (0.02)	$ (0.05)	$ (0.07)

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jun. 30, 2022	$ 21,978	$ 18,394,641	$ (15,799,395)	$ 2,617,224
Shares, Outstanding, Beginning Balance at Jun. 30, 2022	21,977,251
Stock compensation expense		591,816		591,816
Net loss			(698,586)	(698,586)
Issuance of common stock in underwritten public offering	$ 1,121	3,779,284		3,780,405
Issuance of common stock in underwritten public offering, shares	1,121,250
Issuance of common stock for conversion of debt and accrued interest	$ 9,672	1,169,614		1,179,286
Issuance of common stock for conversion of debt and accrued interest, shares	9,671,867
Shares, Outstanding, Beginning Balance at Sep. 30, 2022	32,770,368
Ending balance, value at Sep. 30, 2022	$ 32,771	23,935,355	(16,497,981)	7,470,145
Beginning balance, value at Jun. 30, 2022	$ 21,978	18,394,641	(15,799,395)	2,617,224
Shares, Outstanding, Beginning Balance at Jun. 30, 2022	21,977,251
Net loss				(2,318,927)
Shares, Outstanding, Beginning Balance at Mar. 31, 2023	33,155,127
Ending balance, value at Mar. 31, 2023	$ 33,155	24,763,356	(18,118,322)	6,678,189
Beginning balance, value at Sep. 30, 2022	$ 32,771	23,935,355	(16,497,981)	7,470,145
Shares, Outstanding, Beginning Balance at Sep. 30, 2022	32,770,368
Stock compensation expense	$ 75	719,220		719,295
Net loss			(987,529)	(987,529)
Stock compensation expense, shares	75,000
Shares, Outstanding, Beginning Balance at Dec. 31, 2022	32,845,368
Ending balance, value at Dec. 31, 2022	$ 32,846	24,654,575	(17,485,510)	7,201,911
Stock compensation expense	309	108,781		109,090
Net loss			(632,812)	(632,812)
Stock compensation expense, shares	309,759
Shares, Outstanding, Beginning Balance at Mar. 31, 2023	33,155,127
Ending balance, value at Mar. 31, 2023	$ 33,155	24,763,356	(18,118,322)	6,678,189
Beginning balance, value at Jun. 30, 2023	$ 33,155	24,872,446	(18,439,228)	6,466,373
Shares, Outstanding, Beginning Balance at Jun. 30, 2023	33,155,127
Stock compensation expense		84,717		84,717
Net loss			(428,715)	(428,715)
Shares, Outstanding, Beginning Balance at Sep. 30, 2023	33,155,127
Ending balance, value at Sep. 30, 2023	$ 33,155	24,957,163	(18,867,943)	6,122,375
Beginning balance, value at Jun. 30, 2023	$ 33,155	24,872,446	(18,439,228)	6,466,373
Shares, Outstanding, Beginning Balance at Jun. 30, 2023	33,155,127
Net loss				(1,574,232)
Shares, Outstanding, Beginning Balance at Mar. 31, 2024	33,236,091
Ending balance, value at Mar. 31, 2024	$ 33,236	25,117,861	(20,013,460)	5,137,637
Beginning balance, value at Sep. 30, 2023	$ 33,155	24,957,163	(18,867,943)	6,122,375
Shares, Outstanding, Beginning Balance at Sep. 30, 2023	33,155,127
Stock compensation expense	$ 81	97,060		97,141
Net loss			(556,044)	(556,044)
Stock compensation expense, shares	80,964
Shares, Outstanding, Beginning Balance at Dec. 31, 2023	33,236,091
Ending balance, value at Dec. 31, 2023	$ 33,236	25,054,223	(19,423,987)	5,663,472
Beginning balance, value at Sep. 30, 2023	$ 33,155	24,957,163	(18,867,943)	6,122,375
Shares, Outstanding, Beginning Balance at Sep. 30, 2023	33,155,127
Shares, Outstanding, Beginning Balance at Mar. 31, 2024	33,236,091
Ending balance, value at Mar. 31, 2024	$ 33,236	25,117,861	(20,013,460)	5,137,637
Beginning balance, value at Dec. 31, 2023	$ 33,236	25,054,223	(19,423,987)	5,663,472
Shares, Outstanding, Beginning Balance at Dec. 31, 2023	33,236,091
Stock compensation expense		63,638		63,638
Net loss			(589,473)	(589,473)
Shares, Outstanding, Beginning Balance at Mar. 31, 2024	33,236,091
Ending balance, value at Mar. 31, 2024	$ 33,236	$ 25,117,861	$ (20,013,460)	$ 5,137,637

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (1,574,232)	$ (2,318,927)
Adjustments to reconcile net loss to net cash used in operations:
Stock compensation expense	245,496	1,420,201
Provision for expected credit losses/bad debt expense	670,000	380,000
Changes in current assets and liabilities
Accounts receivable	(730,170)	(799,913)
Inventory	443,624	875,919
Prepaid insurance and other current assets	(19,105)	33,291
Accounts payable	3,167	(205,600)
Accrued expenses	(27,607)	(35,571)
Net cash flows used in operating activities	(988,827)	(650,600)
Cash flows from financing activities:
Underwritten public offering of common stock	0	3,780,405
Net cash flows provided by financing activities	0	3,780,405
Net increase (decrease) in cash and cash equivalents	(988,827)	3,129,805
Cash and cash equivalents at beginning of period	2,002,789	330,385
Cash and cash equivalents at end of period	1,013,962	3,460,190
Supplemental disclosures of cash flow information
Cash paid for interest	0	0
Cash paid for income taxes	0	0
Supplemental non-cash financing activities
Conversion of convertible debt and accrued interest into common stock	$ 0	$ 1,179,286

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended						9 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (589,473)	$ (556,044)	$ (428,715)	$ (632,812)	$ (987,529)	$ (698,586)	$ (1,574,232)	$ (2,318,927)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual [Table]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business and Summary of Signifi

Business and Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Summary of Significant Accounting Policies	( 1) Business and Summary of Significant Accounting Policies Description of Business Interim Financial Information Cash and Cash Equivalents 513,962 Inventory 1.4 million Schedule of inventory March 31, 2024 June 30, 2023 Raw materials, consisting of assembly parts, batteries and inverters $ 1,502,119 $ 2,353,055 Finished goods 634,828 227,516 Total $ 2,136,947 $ 2,580,571 Revenue Recognition · Identification of the contract with a customer · Identification of the performance obligations in the contract · Determination of the transaction price · Allocation of the transaction price to the performance obligations in the contract · Recognition of revenue when, or as, the Company satisfies a performance obligation The Company generates revenues from contracts with customers, consisting of a relatively small number of wholesale dealers and installers, primarily in California. Three dealers represented approximately 25 17 11 22 20 17 13 21 18 16 Allowance for Expected Credit Losses 1,160,000 490,000 Income Taxes The Company accounts for uncertain tax positions in accordance with the provisions of Accounting Standards Codification (“ASC”) 740-10 which prescribes a recognition threshold and measurement attribute for financial statement disclosure of tax positions taken, or expected to be taken, on its tax return. The Company evaluates and records any uncertain tax positions based on the amount that management deems is more likely than not to be sustained upon examination and ultimate settlement with the tax authorities in the tax jurisdictions in which it operates. Stock Compensation Expense Loss Per Common Share 1,229,750 1,121,250 58,500 50,000 Research and Development Costs Use of Estimates Related Parties Fair Value Measurements and Financial Instruments The three levels of the fair value hierarchy are described below: Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 - Inputs that are both significant to the fair value measurement and unobservable. The carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash and cash equivalents, accounts receivable, and accounts payable. At March 31, 2024 and June 30, 2023, the Company did not have any financial assets or liabilities measured and recorded at fair value on the Company’s balance sheets on a recurring basis. Recent Accounting Pronouncements Financial Instruments – Credit Losses Liquidity 1,013,962 5,137,637

Equity

Equity	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Equity	(2) Equity Common Stock each Unit consisting of one share of common stock and one warrant (each, a “Warrant” and collectively, the “Warrants”) In the underwritten public offering, a total of 1,121,250 4,485,000 3,780,000 58,500 In conjunction with the public offering, all holders of the Company’s 2018 convertible notes in the total amount of $ 59,251 9,404,867 1,120,035 267,000 Warrants 1,179,750 The following table presents activity with respect to the Company’s warrants for the nine months ended March 31, 2024 Schedule of warrant activity Number Wtd. Avg. Wtd. Avg. Aggregate of Exercise Remaining Intrinsic Shares Price Term (Yrs.) Value Outstanding at June 30, 2023 1,179,750 $ 4.02 Warrants issued – – Warrants exercised/forfeited – – Outstanding at March 31, 2024 1,179,750 $ 4.02 3.3 $ – Exercisable at March 31, 2024 1,179,750 $ 4.02 3.3 $ – These warrants were issued in conjunction with an underwritten public equity offering, therefore, there was no employee or non-employee compensation expense recognized. Stock Compensation Expense 50,000 In February 2022, we entered into a new employment agreement with our Chief Financial Officer (“CFO”), effective March 1, 2022. The initial term of the employment agreement is one year and is automatically renewable for additional one-year terms unless either party chooses not to renew the agreement. The agreement provides for an initial annual salary of $125,000. Pursuant to the agreement, we issued our CFO an RSU award for up to 300,000 shares of our common stock upon achieving the following milestones (which achievements shall be determined by the Board): (i) Milestone 1 - Successfully complete an uplisting of our common stock in 2022 and continue his employment with our company until January 1, 2023: 250,000 shares; and (ii) Milestone 2 - successfully complete and file the Company’s Form 10-K for the year ended June 30, 2023 no later than September 29, 2023 and continue his employment with our company until January 1, 2024: 50,000 shares. Milestone 1 was achieved as of January 1, 2023, and the underlying 250,000 Based upon management’s assessment of the probability of our CEO and CFO ultimately achieving each milestone specified under the RSU awards indicated above, we calculated the grant date value of such awards and are amortizing it as stock compensation expense over the underlying performance periods. We have recognized stock compensation expense applicable to such RSU awards in the nine months ended March 31, 2024 and 2023 in the amounts of $ 81,683 1,200,723 In conjunction with our public offering in August 2022, we appointed two new independent directors and adopted a new compensation plan for all independent directors based on an annual compensation amount of $65,000 with not less than 70% of such amount paid in shares of our common stock, calculated based on the share price at the end of such prior fiscal quarter, and up to 30% paid in cash, with such final amounts to be determined by each director. As of March 31, 2024, we booked an accrual of $ 146,250 In the nine months ended March 31, 2024, we recognized total non-cash stock compensation expense of $ 245,496 81,683 131,625 19,763 12,425 80,964 In the nine months ended March 31, 2023, we recognized total non-cash stock compensation expense of $ 1,420,201 1,200,723 131,625 60,625 27,228 Other Matters 2,500,000 450,000 54,964

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(3) Commitments and Contingencies Effective January 1, 2021, we secured new corporate and manufacturing office space under a sublease agreement with a company that served as our contract manufacturer at that time. Under the terms of the sublease agreement, we were required to make rental payments of $10,350 per month during the initial one-year term of the agreement. Further, under the terms of the sublease agreement, we were granted the right to renew the sublease for additional terms of 12 months each upon mutual agreement of both parties, provided thirty days’ notice is given for each subsequent term, at a modest increase in the monthly rent, through February 28, 2025. However, we were under no obligation to renew it. At inception of the sublease, management determined that exercise of the renewal option was not reasonably certain and, notwithstanding that the Company elected to renew the agreement for additional one year periods as of January 1, 2022, 2023 and 2024, continues to believe that is the case. Accordingly, we have accounted for it as a short-term lease under ASC 842, Leases As indicated in Note 1, we sell our proprietary ESS units through wholesale dealers, primarily in California. In that regard, we have entered into agreements with several wholesale dealers operating in California and other states under which we have incentivized the dealers to achieve quarterly sales above targeted levels by agreeing to grant them shares of our common stock for exceeding such quarterly sales targets, determined as of the calendar year end, subject to defined maximums. From time to time in the ordinary course of our business, the Company may be involved in legal proceedings, the outcomes of which may not be determinable. The Company is not involved in any legal proceedings at this time. The results of litigation are inherently unpredictable. Any claims against us, whether meritorious or not, could be time consuming, result in costly litigation, require significant amounts of management time and result in diversion of significant resources. We are not able to estimate an aggregate amount or range of reasonably possible losses for those legal matters for which losses are not probable and estimable.

Subsequent Events

Subsequent Events	9 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	(4) Subsequent Events Effective April 29, 2024, the Company engaged a new Chief Executive Officer (“CEO”), replacing the Company’s former chief executive officer and founder who remains as Chairman of the Board and chief technology officer. The Company has entered into an employment agreement with the new CEO providing for an initial term extending through June 30, 2027, which will be automatically renewed for additional one-year terms unless either party chooses not to renew it. Pursuant to the agreement, the new CEO received an initial equity grant equal to 1,280,000 RSUs, which will vest over a four-year period, subject to his continued employment with the Company, three annual performance-based equity grants, beginning in the with a target value of up to $660,000 each.

Business and Summary of Signi_2

Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business
Interim Financial Information	Interim Financial Information
Cash and Cash Equivalents	Cash and Cash Equivalents 513,962
Inventory	Inventory 1.4 million Schedule of inventory March 31, 2024 June 30, 2023 Raw materials, consisting of assembly parts, batteries and inverters $ 1,502,119 $ 2,353,055 Finished goods 634,828 227,516 Total $ 2,136,947 $ 2,580,571
Revenue Recognition	Revenue Recognition · Identification of the contract with a customer · Identification of the performance obligations in the contract · Determination of the transaction price · Allocation of the transaction price to the performance obligations in the contract · Recognition of revenue when, or as, the Company satisfies a performance obligation The Company generates revenues from contracts with customers, consisting of a relatively small number of wholesale dealers and installers, primarily in California. Three dealers represented approximately 25 17 11 22 20 17 13 21 18 16
Allowance for Expected Credit Losses	Allowance for Expected Credit Losses 1,160,000 490,000
Income Taxes	Income Taxes The Company accounts for uncertain tax positions in accordance with the provisions of Accounting Standards Codification (“ASC”) 740-10 which prescribes a recognition threshold and measurement attribute for financial statement disclosure of tax positions taken, or expected to be taken, on its tax return. The Company evaluates and records any uncertain tax positions based on the amount that management deems is more likely than not to be sustained upon examination and ultimate settlement with the tax authorities in the tax jurisdictions in which it operates.
Stock Compensation Expense	Stock Compensation Expense
Loss Per Common Share	Loss Per Common Share 1,229,750 1,121,250 58,500 50,000
Research and Development Costs	Research and Development Costs
Use of Estimates	Use of Estimates
Related Parties	Related Parties
Fair Value Measurements and Financial Instruments	Fair Value Measurements and Financial Instruments The three levels of the fair value hierarchy are described below: Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 - Inputs that are both significant to the fair value measurement and unobservable. The carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash and cash equivalents, accounts receivable, and accounts payable. At March 31, 2024 and June 30, 2023, the Company did not have any financial assets or liabilities measured and recorded at fair value on the Company’s balance sheets on a recurring basis.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Financial Instruments – Credit Losses
Liquidity	Liquidity 1,013,962 5,137,637

Business and Summary of Signi_3

Business and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of inventory	Schedule of inventory March 31, 2024 June 30, 2023 Raw materials, consisting of assembly parts, batteries and inverters $ 1,502,119 $ 2,353,055 Finished goods 634,828 227,516 Total $ 2,136,947 $ 2,580,571

Equity (Tables)

Equity (Tables)	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of warrant activity	Schedule of warrant activity Number Wtd. Avg. Wtd. Avg. Aggregate of Exercise Remaining Intrinsic Shares Price Term (Yrs.) Value Outstanding at June 30, 2023 1,179,750 $ 4.02 Warrants issued – – Warrants exercised/forfeited – – Outstanding at March 31, 2024 1,179,750 $ 4.02 3.3 $ – Exercisable at March 31, 2024 1,179,750 $ 4.02 3.3 $ –

Schedule of inventory (Details)

Schedule of inventory (Details) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials, consisting of assembly parts, batteries and inverters	$ 1,502,119	$ 2,353,055
Finished goods	634,828	227,516
Total	$ 2,136,947	$ 2,580,571

Business and Summary of Signi_4

Business and Summary of Significant Accounting Policies (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Product Information [Line Items]
Cash, Uninsured Amount	$ 513,962
Inventory, Gross			$ 1,400,000
Accounts Receivable, Allowance for Credit Loss	1,160,000		490,000
Cash and Cash Equivalents, at Carrying Value	1,013,962		$ 2,002,789
Working Capital	$ 5,137,637
Common Stock [Member]
Product Information [Line Items]
Antidilutive shares	1,229,750
Investor Warrants [Member]
Product Information [Line Items]
Antidilutive shares	1,121,250
Underwriter Warrants [Member]
Product Information [Line Items]
Antidilutive shares	58,500
Restricted Stock Units [Member]
Product Information [Line Items]
Antidilutive shares	50,000
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Dealer [Member]
Product Information [Line Items]
Concentration Risk, Percentage	25%	21%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Second Dealer [Member]
Product Information [Line Items]
Concentration Risk, Percentage	17%	18%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Third Dealer [Member]
Product Information [Line Items]
Concentration Risk, Percentage	11%	16%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Dealer [Member]
Product Information [Line Items]
Concentration Risk, Percentage	22%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Second Dealer [Member]
Product Information [Line Items]
Concentration Risk, Percentage	20%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Third Dealer [Member]
Product Information [Line Items]
Concentration Risk, Percentage	17%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Fourth Dealer [Member]
Product Information [Line Items]
Concentration Risk, Percentage	13%

Equity (Details - Warrant activ

Equity (Details - Warrant activity) - USD ($)	6 Months Ended	9 Months Ended
	Dec. 31, 2023	Mar. 31, 2024
Equity [Abstract]
Warrants outstanding, beginning	1,179,750	1,179,750
Weighted Average Exercise Price, Beginning	$ 4.02	$ 4.02
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period
Warrants outstanding, beginning		1,179,750
Weighted Average Exercise Price, Beginning		$ 4.02
Warrants and Rights Outstanding, Term		3 years 3 months 18 days
Aggregate Intrinsic Value, Ending		$ 0
Warrants exercisable, weighted average exercise price		$ 4.02
Warrants term, exercisable		3 years 3 months 18 days
Aggregate Intrinsic Value, Exercisable		$ 0

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended		9 Months Ended		12 Months Ended
	Aug. 31, 2022	Mar. 31, 2024	Dec. 31, 2022	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023	Feb. 28, 2019
Subsidiary, Sale of Stock [Line Items]
Class of Warrant or Right, Outstanding		1,179,750		1,179,750		1,179,750
Share-Based Payment Arrangement, Noncash Expense				$ 245,496	$ 1,420,201
2019 Stock Option Plan [Member]
Subsidiary, Sale of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized							2,500,000
Restricted Stock Units (RSUs) [Member]
Subsidiary, Sale of Stock [Line Items]
Share-Based Payment Arrangement, Noncash Expense				81,683	1,200,723
Amortized value of RSUs granted [Member]
Subsidiary, Sale of Stock [Line Items]
Share-Based Payment Arrangement, Noncash Expense				81,683	1,200,723
Independent Directors [Member]
Subsidiary, Sale of Stock [Line Items]
Share-Based Payment Arrangement, Noncash Expense				131,625	131,625
Amortized Value Of Shares Granted To Various Advisors [Member]
Subsidiary, Sale of Stock [Line Items]
Share-Based Payment Arrangement, Noncash Expense				19,763	60,625
Fair Value Of Incentive Shares Wholesale Dealer [Member]
Subsidiary, Sale of Stock [Line Items]
Share-Based Payment Arrangement, Noncash Expense				12,425
Fair Value Of Incentive Shares Two Wholesale Dealer [Member]
Subsidiary, Sale of Stock [Line Items]
Share-Based Payment Arrangement, Noncash Expense					$ 27,228
Chief Executive Officer [Member] | Milestone 1 [Member]
Subsidiary, Sale of Stock [Line Items]
Restricted stock granted, shares			50,000
Chief Financial Officer [Member] | Milestone 1 [Member]
Subsidiary, Sale of Stock [Line Items]
Restricted stock granted, shares			250,000
Three Independent Directors [Member]
Subsidiary, Sale of Stock [Line Items]
Accrued compensation expenses		$ 146,250		$ 146,250
Three Independent Directors [Member] | 2019 Stock Option Plan [Member]
Subsidiary, Sale of Stock [Line Items]
Restricted stock granted, shares						54,964
Independent Directors [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued for compensation, shares		80,964
Two Executives [Member] | 2019 Stock Option Plan [Member]
Subsidiary, Sale of Stock [Line Items]
Restricted stock granted, shares						450,000
Underwritten Public Offering [Member] | Underwriter [Member] | Non Tradeable Warrants [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants granted	58,500
Underwritten Public Offering [Member] | Units [Member]
Subsidiary, Sale of Stock [Line Items]
Unit description	each Unit consisting of one share of common stock and one warrant (each, a “Warrant” and collectively, the “Warrants”)
Shares issued new, units issued	1,121,250
Gross proceeds from sale of equity	$ 4,485,000
Net proceeds from sale of equity	3,780,000
August Public Offering [Member] | May 2018 Notes Payable [Member]
Subsidiary, Sale of Stock [Line Items]
Debt converted, amount converted	$ 59,251
Debt converted, shares issued	9,404,867
August Public Offering [Member] | October 2021 Notes Payable [Member]
Subsidiary, Sale of Stock [Line Items]
Debt converted, amount converted	$ 1,120,035
Debt converted, shares issued	267,000