Moving iMage (MITQ) 10-Q 14 Nov 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2022	Nov. 14, 2022
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Entity File Number	001-40511
Entity Registrant Name	Moving iMage Technologies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-1836381
Entity Address, Address Line One	17760 Newhope Street
Entity Address, City or Town	Fountain Valley
Entity Address State Or Province	CA
Entity Address, Postal Zip Code	92708
City Area Code	714
Local Phone Number	751-7998
Title of 12(b) Security	Common Stock, $0.00001 par value
Trading Symbol	MITQ
Security Exchange Name	NYSEAMER
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
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,958,398
Entity Central Index Key	0001770236
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2022	Jun. 30, 2022
Current Assets:
Cash and cash equivalents	$ 2,294,000	$ 2,340,000
Marketable securities	4,234,000	4,363,000
Accounts receivable, net	1,750,000	1,762,000
Inventories	4,920,000	4,033,000
Prepaid expenses and other	439,000	864,000
Total Current Assets	13,637,000	13,362,000
Long-Term Assets:
Marketable securities	315,000	325,000
Right-of-use asset	604,000
Property, plant and equipment, net	22,000	22,000
Intangibles, net	815,000	839,000
Goodwill	287,000	287,000
Other assets	16,000	16,000
Total Long-Term Assets	2,059,000	1,489,000
Total Assets	15,696,000	14,851,000
Current Liabilities:
Accounts payable	3,179,000	1,583,000
Accrued expenses	530,000	655,000
Customer deposits	1,846,000	3,158,000
Lease liability - current	258,000
Unearned warranty revenue	46,000	18,000
Total Current Liabilities	5,859,000	5,414,000
Long-Term Liabilities:
Lease liability - non-current	364,000
Deferred rent		22,000
Total Long-Term Liabilities	364,000	22,000
Total Liabilities	6,223,000	5,436,000
Stockholders' Equity
Common stock, $0.00001 par value, 100,000,000 shares authorized, 10,958,398 and 10,828,398 shares issued and outstanding at September 30, 2022 and June 30, 2022, respectively
Additional paid-in capital	12,653,000	12,500,000
Accumulated deficit	(3,180,000)	(3,085,000)
Total Stockholders' Equity	9,473,000	9,415,000
Total Liabilities and Stockholders' Equity	$ 15,696,000	$ 14,851,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Jun. 30, 2022
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock par value	$ 0.00001	$ 0.00001
Common stock, Authorized	100,000,000	100,000,000
Common stock, Issued	10,958,398	10,958,398
Common stock, Outstanding	10,828,398	10,828,398

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 5,852	$ 3,474
Cost of goods sold	4,293	2,752
Gross profit	1,559	722
Operating expenses:
Research and development	66	54
Selling and marketing	610	544
General and administrative	835	663
Total operating expenses	1,511	1,261
Operating income (loss)	48	(539)
Other (income) expenses:
Unrealized loss on investments	140
Realized loss on investments	23
Interest and other income	(20)
Interest expense		38
Total other (income) expense	143	38
Net loss	$ (95)	$ (577)
Weighted average shares outstanding: basic	10,928,724	10,254,686
Weighted average shares outstanding: diluted	10,928,724	10,254,686
Net loss per common share basic	$ (0.01)	$ (0.06)
Net loss per common share diluted	$ (0.01)	$ (0.06)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Common Stock	Retained Earnings (Accumulated Deficit)	Additional Paid-in Capital	Total
Balance at the beginning at Jun. 30, 2021	$ 0	$ (1,740,000)	$ 1,011,000	$ (729,000)
Balance at the beginning (in shares) at Jun. 30, 2021	5,666,667
Shares of common stock issued for cash	$ 0	0	11,244,000	11,244,000
Shares of common stock issued for cash (in shares)	4,830,000
Cashless exercise of warrants	$ 0	0	0	0
Cashless exercise of warrants (in shares)	139,611
Grant of options for services	$ 0	0	56,000	56,000
Net Loss	0	(577,000)	0	(577,000)
Balance at the end at Sep. 30, 2021	$ 0	(2,317,000)	12,311,000	9,994,000
Balance at the end (in shares) at Sep. 30, 2021	10,636,278
Balance at the beginning at Jun. 30, 2022	$ 0	(3,085,000)	12,500,000	9,415,000
Balance at the beginning (in shares) at Jun. 30, 2022	10,828,398
Issuance of stock to employees	$ 0	0	153,000	153,000
Issuance of stock to employees (in shares)	130,000
Net Loss	$ 0	(95,000)	0	(95,000)
Balance at the end at Sep. 30, 2022	$ 0	$ (3,180,000)	$ 12,653,000	$ 9,473,000
Balance at the end (in shares) at Sep. 30, 2022	10,958,398

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (95)	$ (577)
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for (reversal of) doubtful accounts	3	(90)
Depreciation expense	2	13
Amortization expense	24	24
Unrealized loss on investments	140
Realized loss on investments	23
Cash expended in excess of rent expense	(5)
Stock compensation expense		56
Changes in operating assets and liabilities
Accounts receivable	9	(354)
Inventories	(887)	(377)
Prepaid expenses and other	425	(547)
Accounts payable	1,597	(70)
Accrued expenses	28	(217)
Unearned warranty revenue	28
Customer deposits	(1,312)	1,370
Net cash used in operating activities	(20)	(769)
Cash flows from investing activities
Sale of marketable securities	493
Purchases of marketable securities	(517)
Purchases of property, plant and equipment	(2)
Net cash used in investing activities	(26)
Cash flows from financing activities
Net Proceeds from initial public offering		12,360
Payments on line of credit		(590)
Payments on notes payable		(1,241)
Net cash provided by financing activities		10,529
Net increase (decrease) in cash and cash equivalents	(46)	9,760
Cash and cash equivalents, beginning of the period	2,340	1,270
Cash and cash equivalents, end of the period	2,294	11,030
Non-cash investing and financing activities:
Reclassification of IPO related costs from other assets to equity		1,116
Accrued expenses settled by issuance of common stock	153
Right-of-use asset recorded upon adoption of ASC 842	$ 681
Cash paid during the period:
Interest		$ 38

BUSINESS ACTIVITY AND SUMMARY O

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Sep. 30, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization: Moving iMage Acquisition Co. (DBA “Caddy Products”) designs, develops and manufactures innovative products for the entertainment, cinema, grocery, worship, restaurant, sports and restroom industries. Share Exchange: In June 2020, MiT LLC members created Moving iMage Technologies, Inc. (“MiT Inc.”) to facilitate the Company’s initial public offering (“IPO”). Upon formation of MiT Inc., 2,000,000 shares of MiT, Inc. common stock were issued to members of MiT LLC. On July 7, 2021, MiT LLC and MiT Inc. entered into an exchange agreement (“Exchange Agreement”) whereby the members of MiT LLC exchanged their membership interests for 2,350,000 shares of common stock in MiT Inc. As a result of the Exchange Agreement, the members of MiT LLC owned approximately 79%, or 4,452,334 shares, of the outstanding common stock of MiT Inc. As a result, MiT LLC (the entity where the Company conducts its business) became a wholly-owned subsidiary of MiT Inc. (the SEC registrant). The transaction was accounted for as a merger of entities under common ownership in accordance with generally accepted accounting principles in the United States of America. This determination was primarily based on the facts that, immediately before and after the transaction: (i) MiT LLC owners owned a substantial majority of the voting rights in the combined company, (ii) MiT LLC designated a majority of the members of the initial board of directors of the combined company, and (iii) MiT LLC’s senior management holds all key positions in the senior management of the combined company. Initial Public Offering: On July 12, 2021, in connection with the IPO, warrants to purchase 139,611 shares of the Company’s common stock were exercised on a cashless basis. ​ NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Impact of the COVID-19 Pandemic: Throughout Calendar 2020 and 2021 the theatres reopened as soon as local restrictions and the status of the COVID-19 pandemic would allow. As of September 30, 2022, a large majority of domestic and international theatres were open. The industry’s recovery to historical levels of new film content, both in terms of the number of new films and box office performance, is still underway, as the industry also continues to adjust to evolving theatrical release windows, competition from streaming and other delivery platforms, supply chain delays, inflationary pressures, labor shortages, wage rate pressures and other economic factors. Based on the Company’s current estimates of recovery, it believes it has, and will generate, sufficient cash to sustain operations for a period of 12 months from the issuance of these financial statements. Nonetheless, the COVID-19 pandemic has had, and continues to have, adverse effects on the Company’s business, results of operations, cash flows and financial condition. Principles of Consolidation Basis of Presentation: Unaudited Interim Condensed Consolidated Financial Statements: Segment Reporting: Measurement of Fair Values : ​ NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) — Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities. — Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices). — Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. Following is the fair value leveling for investment securities that are measured at fair value on a recurring basis as of September 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ Level 1 Level 2 Level 3 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Securities ​ $ 701 ​ $ — ​ $ — ​ $ 701 State and Municipal Debt Securities ​ 860 ​ — ​ — ​ 860 Fixed Income Funds ​ 2,689 ​ — ​ — ​ 2,689 Alternative Funds ​ — ​ 258 ​ — ​ 258 Real Estate Funds ​ — ​ 41 ​ — ​ 41 Subtotal ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,549 Less Long-term ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (315) Net Current ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,234 ​ Following is the fair value leveling for investment securities that are measured at fair value on a recurring basis as of June 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ Level 1 Level 2 Level 3 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Securities ​ $ 764 ​ $ — ​ $ — ​ $ 764 State and Municipal Debt Securities ​ 889 ​ — ​ — ​ 889 Fixed Income Funds ​ 2,687 ​ — ​ — ​ 2,687 Alternative Funds ​ — ​ 300 ​ — ​ 300 Real Estate Funds ​ — ​ 48 ​ — ​ 48 Subtotal ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,688 Less Long-term ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (325) Net Current ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,363 ​ The carrying amounts of accounts receivable, accounts payable, and notes payable approximate fair value due to their short maturities. Assets and Liabilities Not Measured Deferred Offering Costs: NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) As of June 30, 2021, $1,116,000 of deferred offering costs were capitalized in other assets. After completion of the IPO in July 2021, these costs were recorded in the condensed consolidated statements of changes in stockholders’ equity (deficit) as a reduction of proceeds received from the offering. Use of Estimates: Concentration of Cash: Accounts Receivable: Inventories: Revenue Recognition: Revenue from Contracts with Customers (“ASC 606”). Revenue is recognized when control of the promised goods is transferred at the point of shipment to a customer and when performance conditions are satisfied, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods as per the agreement with the customer. The Company generates all its revenue from agreements with customers. In case there are agreements with multiple performance obligations, the Company identifies each performance obligation and evaluates whether the performance obligations are distinct within the context of the agreement at the agreement’s inception. Performance obligations that are not distinct at agreement inception are combined. The Company allocates the transaction price to each distinct performance obligation proportionately based on the estimated standalone selling price for each performance obligation and then evaluates how the services are transferred to the customer to determine the timing of revenue recognition. The Company considers the U.S. GAAP criteria for determining whether to report revenue gross as a principal versus net as an agent. Factors considered include whether the Company is the primary obligor, has risks and rewards of ownership, and bears the risk that a customer may not pay for the products provided or services performed. If there are circumstances where the above criteria are not met, revenues recognized are presented net of cost of goods sold. NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Contract assets consist of conditional or unconditional rights to consideration. Accounts receivable represent amounts billed to customers where the Company has an enforceable right to payment for performance completed to date (i.e., unconditional rights to consideration). The Company does not have contract assets that represent conditional rights to consideration. Contract liabilities consist of refund and warranty liabilities, as well as deposits received in advance on sales to certain customers. Such deposits are reflected as customer deposits and recognized in revenue when control of the products is transferred or when performance conditions are satisfied per the agreement. The change in contract liabilities (customer deposits and unearned warranty revenue) during the three months ended September 30, 2022 included $1.589 million for revenue recognized that was included in contract liabilities as of June 30, 2022. The change in contract liabilities (customer deposits and unearned warranty revenue) during the three months ended September 30, 2021 included $0.573 million for revenue recognized that was included in contract liabilities as of June 30, 2022. Cost of goods sold includes cost of inventory sold during the period, net of vendor discounts and allowances, and shipping and handling costs, and sales taxes. Taxes collected from customers are included in accounts payable on a net basis (excluded from revenues) until remitted to the government. Deferred contract acquisition costs consist of sales commissions paid to the sales force, and the related employer payroll taxes, and are considered incremental and recoverable costs of obtaining a contract with a customer. Management has determined that sales commissions paid are an immaterial component of obtaining a customer’s contract and has elected to expense sales commissions when earned. ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three For the Three ​ ​ Months Ended ​ Months Ended Disaggregation of Revenue (in 000’s): ​ September 30, 2022 ​ September 30, 2021 Equipment upon delivery (point in time) ​ $ 5,714 ​ $ 3,433 Installation (point in time) ​ 126 ​ 41 Software subscription and services (over time) ​ 12 ​ — Total revenues ​ $ 5,852 ​ $ 3,474 ​ Revenue from the sale of equipment is recognized upon shipment of such equipment to customers and when performance conditions are satisfied. Revenue from installation is recognized upon completion of the installation project and when the performance obligation is complete. Software subscription revenue for remote monitoring services is recognized on a straight-line basis over the term of the contract, usually one year. Services revenues are generally recognized over time as the contracts are performed. Returns and Allowances: Shipping and Handling Costs: Advertising Costs: for the three months ended September 30, 2022 and 2021, respectively. Advertising costs are expensed as incurred within selling and marketing expenses. ​ NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Goodwill and Intangible Assets: “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” Goodwill is at risk of future impairment in the event of significant unexpected changes in the Company’s forecasted future results and cash flows, or if there is a negative change in the long-term outlook for the business or in other factors such as the discount rate, or if there is a decline in the stock price. Intangible assets arising from business combinations, such as customer relationships, trade names, and/or intellectual property, are initially recorded at fair value. The Company amortizes these intangible assets over the determined useful life which generally ranges from 11 to 20 years. The Company reviews its intangible assets for impairment whenever events or circumstances indicate that the carrying amount of an asset may not be fully recoverable. There were no intangible asset impairments recognized for the three months ended September 30, 2022 or 2021. Business Combinations: Income Taxes: ​ NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The following table summarizes the components of deferred tax assets and deferred tax liabilities at June 30, 2022 and September 30, 2022 (in thousands): ​ ​ ​ ​ ​ Deferred Tax ​ ​ Assets (Liabilities) Inventory reserve ​ $ 122 Accumulated depreciation ​ (6) Accumulated intangible amortization ​ (4) Deferred rent ​ 6 Warranty reserve ​ 5 Stock compensation ​ ​ 68 Net operating loss carryforward ​ ​ 594 Unrealized loss on marketable securities ​ ​ 68 Allowance for doubtful accounts ​ 39 Net ​ ​ 892 Valuation allowance ​ (892) Total June 30, 2022 ​ $ — ​ ​ ​ ​ Inventory reserve ​ $ 112 Accumulated depreciation ​ (6) Accumulated intangible amortization ​ (14) Deferred rent ​ 5 Warranty reserve ​ 13 Stock compensation ​ 111 Net operating loss carryforward ​ 651 Unrealized loss on marketable securities ​ ​ 107 Allowance for doubtful accounts ​ 39 Net ​ ​ 1,018 Valuation allowance ​ (1,018) Total September 30, 2022 ​ $ — ​ Leases Product Warranty: ​ NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The changes in the Company’s aggregate warranty liabilities were as follows for the following periods (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended September 30, Year Ended June 30, ​ ​ 2022 ​ 2022 Product warranty liability, beginning of period ​ $ 55 ​ $ 29 Accruals for warranties issued ​ — ​ 60 Settlements made ​ (5) ​ (34) Product warranty liability, end of period ​ $ 50 ​ $ 55 ​ Research and Development: Recently Issued Accounting Pronouncements: Other pronouncements issued by FASB with future effective dates are either not applicable or not significant to the consolidated financial statements of the Company.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Sep. 30, 2022
INVESTMENTS
INVESTMENTS	NOTE 2 — INVESTMENTS The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category as of September 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current Non-current ​ ​ Adjusted ​ Unrealized ​ Unrealized ​ Fair ​ Cash and ​ Marketable ​ Marketable ​ Cost Gains Losses Value Cash Equivalents Securities Securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash $ 2,294 $ — ​ $ — $ 2,294 $ 2,294 $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equities ​ ​ ​ ​ ​ ​ ​ Communication ​ 45 ​ — ​ ​ (12) ​ 33 ​ — ​ 33 ​ — Consumer Discretionary ​ 49 ​ — ​ (8) ​ ​ 41 ​ — ​ 41 ​ — Consumer Staples ​ 22 ​ — ​ (2) ​ ​ 20 ​ — ​ 20 ​ — Energy ​ 9 ​ — ​ ​ (1) ​ 8 ​ — ​ 8 ​ — Financials ​ 44 ​ — ​ ​ (10) ​ 34 ​ — ​ 34 ​ — Health Care ​ 40 ​ — ​ (3) ​ ​ 37 ​ — ​ 37 ​ — Industrials ​ 27 ​ — ​ (7) ​ ​ 20 ​ — ​ 20 ​ — Information Technology ​ 128 ​ — ​ (32) ​ ​ 96 ​ — ​ 96 ​ — Materials ​ 12 ​ — ​ (2) ​ ​ 10 ​ — ​ 10 ​ — Real Estate ​ 9 ​ — ​ ​ (2) ​ ​ 7 ​ — ​ 7 ​ — Utilities ​ 6 ​ — ​ — ​ ​ 6 ​ — ​ 6 ​ — Mutual Funds ​ 480 ​ — ​ ​ (91) ​ 389 ​ — ​ 389 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ Subtotal ​ 871 ​ — ​ (170) ​ 701 ​ — ​ 701 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed Income ​ ​ ​ ​ ​ ​ ​ State & Municipal Bonds ​ 901 ​ — ​ (41) ​ 860 ​ — ​ 545 ​ 315 Fixed income funds ​ 2,838 ​ — ​ (149) ​ 2,689 ​ — ​ 2,689 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal ​ 3,739 ​ — ​ (190) ​ 3,549 ​ — ​ 3,234 ​ 315 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alternative, real estate and other ​ 321 ​ — ​ (22) ​ 299 ​ — ​ 299 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 7,225 $ — $ (382) $ 6,843 $ 2,294 $ 4,234 $ 315 ​ ​ ​ NOTE 2 — INVESTMENTS (continued) The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category as of June 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current Non-current ​ ​ Adjusted ​ Unrealized ​ Unrealized ​ Fair ​ Cash and ​ Marketable ​ Marketable ​ Cost Gains Losses Value Cash Equivalents Securities Securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash $ 2,340 $ — ​ $ — $ 2,340 $ 2,340 $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equities ​ ​ ​ ​ ​ ​ ​ Communication ​ 50 ​ — ​ ​ (11) ​ 39 ​ — ​ 39 ​ — Consumer Discretionary ​ 69 ​ — ​ (15) ​ ​ 54 ​ — ​ 54 ​ — Consumer Staples ​ 19 ​ — ​ — ​ ​ 19 ​ — ​ 19 ​ — Energy ​ 9 ​ — ​ ​ (1) ​ 8 ​ — ​ 8 ​ — Financials ​ 44 ​ — ​ ​ (8) ​ 36 ​ — ​ 36 ​ — Health Care ​ 40 ​ — ​ — ​ ​ 40 ​ — ​ 40 ​ — Industrials ​ 27 ​ — ​ (7) ​ ​ 20 ​ — ​ 20 ​ — Information Technology ​ 133 ​ — ​ (25) ​ ​ 108 ​ — ​ 108 ​ — Materials ​ 10 ​ — ​ (2) ​ ​ 8 ​ — ​ 8 ​ — Real Estate ​ 10 ​ — ​ ​ (2) ​ ​ 8 ​ — ​ 8 ​ — Utilities ​ 6 ​ — ​ — ​ ​ 6 ​ — ​ 6 ​ — Mutual Funds ​ 482 ​ — ​ ​ (64) ​ 418 ​ — ​ 418 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ Subtotal ​ 899 ​ — ​ (135) ​ 764 ​ — ​ 764 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed Income ​ ​ ​ ​ ​ ​ ​ State & Municipal Bonds ​ 906 ​ — ​ (17) ​ 889 ​ — ​ 564 ​ 325 Fixed income funds ​ 2,759 ​ — ​ (72) ​ 2,687 ​ — ​ 2,687 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal ​ 3,665 ​ — ​ (89) ​ 3,576 ​ — ​ 3,251 ​ 325 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alternative, real estate and other ​ 366 ​ — ​ (18) ​ 348 ​ — ​ 348 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 7,270 $ — $ (242) $ 7,028 $ 2,340 $ 4,363 $ 325 ​

LOSS PER SHARE

LOSS PER SHARE	3 Months Ended
	Sep. 30, 2022
LOSS PER SHARE
LOSS PER SHARE	NOTE 3 — LOSS PER SHARE ​ Basic loss per share data for each period presented is computed using the weighted average number of shares of common stock outstanding during each such period. Diluted loss per share data is computed using the weighted average number of common and potentially dilutive securities outstanding during each period. Potentially dilutive securities consist of shares that would be issued upon the exercise of stock options and warrants, computed using the treasury stock method. A reconciliation of basic and diluted loss per share is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended For the Three Months Ended ​ ​ September 30, ​ September 30, ​ ​ 2022 ​ 2021 Numerator: ​ ​ ​ ​ ​ ​ Net (loss) ​ $ (95) ​ $ (577) Denominator: ​ ​ Weighted average common shares outstanding, basic and diluted ​ 10,928,724 ​ 10,254,686 ​ ​ ​ ​ ​ ​ ​ Loss per share ​ ​ Basic and diluted ​ $ (0.01) ​ $ (0.06) ​ The following securities were excluded from the calculation of diluted loss per share in each period because their inclusion would have been anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Three Months Ended ​ ​ September 30, ​ September 30, ​ 2022 2021 Options ​ 150,000 ​ 150,000 Warrants — ​ 241,500 Total potentially dilutive shares 150,000 ​ 391,500 ​ ​ For the three months ended September 30, 2022 and 2021, the Company had net losses, therefore all potentially dilutive securities are deemed to be anti-dilutive and are not included in the diluted loss per share computation.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	3 Months Ended
	Sep. 30, 2022
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	NOTE 4 — PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, June 30, ​ ​ 2022 ​ 2022 Production equipment ​ $ 307 ​ $ 307 Leasehold improvements ​ 213 ​ 213 Furniture and fixtures ​ 45 ​ 45 Computer equipment ​ 49 ​ 47 Other equipment ​ 120 ​ 120 ​ ​ 734 ​ 732 Accumulated depreciation ​ (712) ​ (710) Net property plant and equipment ​ $ 22 ​ $ 22 ​ Depreciation expense related to property, plant and equipment was $2,000 and $13,000 for the three months ended September 30, 2022 and 2021, respectively, of which $0 and $9,000 is included in cost of goods sold and $2,000 and $4,000 in general and administrative expense, respectively. NOTE 4 — PROPERTY, PLANT AND EQUIPMENT (continued) Depreciation of property, plant and equipment is calculated using the straight-line method over their estimated useful lives as follows: ​ ​ ​ ​ ​ Useful Lives Leasehold improvements 5 years or remaining lease term Furniture and fixtures 5 years Production equipment 3 – 7 years Computer equipment 3 years Other equipment 3 – 7 years ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Sep. 30, 2022
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	NOTE 5 — GOODWILL AND INTANGIBLE ASSETS The following table summarizes the Company’s intangible assets as of September 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization Gross Asset Accumulated Net Book ​ ​ Period ​ Cost ​ Amortization ​ Value Customer relationships 11 years ​ $ 970 ​ $ 279 ​ $ 691 Patents 20 years ​ 70 ​ 12 ​ 58 Trademark 20 years ​ 78 ​ 12 ​ 66 ​ ​ ​ ​ $ 1,118 ​ $ 303 ​ $ 815 ​ The following table summarizes the Company’s intangible assets as of June 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization Gross Asset Accumulated Net Book ​ ​ Period ​ Cost ​ Amortization ​ Value Customer relationships 11 years ​ $ 970 ​ $ 257 ​ $ 713 Patents 20 years ​ 70 ​ 10 ​ 60 Trademark 20 years ​ 78 ​ 12 ​ 66 ​ ​ ​ ​ $ 1,118 ​ $ 279 ​ $ 839 ​ Amortization expense was $24,000 and $24,000 for the three ​ Estimated amortization expense related to intangible assets subject to amortization at September 30, 2022 in each of the five years subsequent to September 30, 2022, and thereafter is as follows (in thousands): ​ ​ ​ ​ ​ 2023 $ 72 2024 ​ 96 2025 ​ 96 2026 ​ 96 2027 ​ 96 Thereafter ​ 359 Total ​ $ 815 ​ Goodwill at September 30, 2022 and June 30, 2022 was $287,000.

ACCRUED EXPENSES

ACCRUED EXPENSES	3 Months Ended
	Sep. 30, 2022
ACCRUED EXPENSES
ACCRUED EXPENSES	NOTE 6 — ACCRUED EXPENSES Accrued expenses consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, June 30, ​ ​ 2022 ​ 2022 Employee compensation ​ $ 283 ​ $ 519 Accrued warranty ​ ​ 50 ​ ​ 55 Others ​ 197 ​ 81 Total ​ $ 530 ​ $ 655 ​

DEBT

DEBT	3 Months Ended
	Sep. 30, 2022
DEBT
DEBT	NOTE 7 — DEBT Line of Credit In October 2019, MiT LLC executed a line of credit agreement with an unaffiliated lender to provide a $1.0 million asset-based bridge loan to be used for working capital purposes. The loan was secured by all assets of MiT LLC and was personally guaranteed by Phil Rafnson, our CEO and Chairman of the Board. Sound Management Investors, LLC, an entity controlled by Mr. Rafnson, pledged all membership units of MiT LLC held by it as further security for the repayment of such loan. In connection with this borrowing, the lender was issued warrants to acquire shares of the Company’s common stock upon completion of its IPO. On the effective date of the IPO, the lender exercised these warrants to acquire 94,723 shares of the common stock on a cashless basis. Approximately $400,000 of the proceeds from this loan were used to pay amounts owed to Caddy in connection with the Caddy acquisition. In July 2021, the outstanding balance of the line of credit, approximately $590,000, and all accrued interest, was paid in full. Notes Payable In August 2021, all remaining amounts due on notes related to the Caddy acquisition, approximately $1,241,000, were paid in full. Paycheck Protection Program On May 6, 2020, the Company received loan proceeds in the amount of approximately $694,000 under the Paycheck Protection Program (“PPP”). On March 13, 2021, the Company received proceeds in the amount of approximately $698,000 from a second PPP loan. The PPP, established as part of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), provided for loans to qualifying businesses for amounts up to 2.5 times of the average monthly payroll expenses of the qualifying business. The loans and accrued interest were forgivable as long as the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. In May 2021, the Company received notification from the Small Business Administration that the first loan in the amount of $694,000, including accrued interest, was fully forgiven. In April 2022, the Company received notice that on March 23, 2022, its second PPP loan in the amount of $698,000 plus accrued interest has been fully forgiven and is paid in full. There is no outstanding debt as of September 30 or June 30, 2022.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Sep. 30, 2022
STOCKHOLDERS' EQUITY.
STOCKHOLDERS' EQUITY	NOTE 8 — STOCKHOLDERS’ EQUITY In 2019, the Company adopted the 2019 Omnibus Incentive Plan (the “Plan”). The Plan, as amended, provides for the issuance of stock-based awards to employees. As of September 30, 2022, the Plan provides for the issuance of up to 1,500,000 stock-based awards. There are 1,220,000 stock-based awards available to grant under the Plan at September 30, 2022. In July 2021, MiT Inc. entered into an Exchange Agreement with MiT LLC pursuant to which MiT Inc. agreed to exchange membership units for 2,350,000 shares of Common Stock representing 41.4% of the equity as of such date on a fully diluted basis for no consideration. The shares were exchanged as part of the Exchange Agreement with the Company as described in Note 1. In July 2021, the Company granted options to non-employee directors to purchase an aggregate of 150,000 shares of its common stock at an exercise price of $3.00 per share. The options vest one year from the date of grant, expire ten years from the date of grant and had an aggregate grant date fair value of $244,200, which was recognized ratably over the vesting period. These options, which were the only options granted during the three months ended September 30, 2021, had a grant-date fair value of $1.63 per share. The Company recognized compensation expense for stock option awards of approximately $0 and $56,000 during the three month periods ended September 30, 2022 and 2021, respectively. At September 30, 2022, there was no unrecognized compensation cost related to nonvested stock option awards. The estimated fair value of each option award granted was determined on the date of grant using the Black-Scholes option valuation model. The following weighted average assumptions were used for option grants during the three months ended September 30, 2021: ​ ​ ​ ​ Risk-free interest rate 1.32 % Expected volatility 61.0 % Dividend yield 0 % Expected option term in years 5.5 ​ On July 12, 2022, the Company granted 130,000 shares of common stock, with a fair market value of approximately $153,000, to employees as compensation for previously provided service, which was accrued as of June 30, 2022. ​ NOTE 8 — STOCKHOLDERS’ EQUITY (continued) A summary of the status of the Company’s stock options as of September 30, 2022 and changes during the three months ended September 30, 2022 are presented below. ​ ​ ​ ​ ​ ​ ​ ​ ​ Wtd. Avg. ​ ​ ​ ​ Exercise ​ ​ Options ​ Price Balance, July 1, 2022 150,000 ​ $ 3.00 Granted during the period — ​ — Exercised during the period — ​ — Terminated/Expired during the period — ​ — Balance, September 30, 2022 150,000 ​ $ 3.00 ​ A summary of the status of the Company’s stock options as of September 30, 2021 and changes during the three months ended September 30, 2021 are presented below. ​ ​ ​ ​ ​ ​ ​ ​ ​ Wtd. Avg. ​ ​ ​ ​ Exercise ​ ​ Options ​ Price Balance, July 1, 2021 — ​ $ — Granted during the period 150,000 ​ 3.00 Exercised during the period — ​ — Terminated/Expired during the period — ​ — Balance, September 30, 2021 150,000 ​ $ 3.00 ​ The following table summarizes information about outstanding and exercisable stock options at September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number ​ Wtd. Avg. ​ Range of Exercise Price ​ Outstanding ​ Wtd. Avg, Life ​ Exercise Price $ 3.00 150,000 8.8 years ​ $ 3.00 ​ A summary of the status of the Company’s stock warrants as of September 30, 2021 and changes during the three month period ended September 30, 2021 are presented below. ​ ​ ​ ​ ​ ​ ​ ​ ​ Wtd. Avg. ​ ​ ​ ​ Exercise ​ ​ Warrants ​ Price Balance, July 1, 2021 236,667 ​ $ 2.76 Granted during the period 241,500 ​ 3.75 Exercised during the period 139,611 ​ 2.76 Terminated/Expired during the period 97,056 ​ 2.76 Balance, September 30, 2021 241,500 ​ $ 3.75 ​ In July 2021, warrants were exercised on a cashless basis resulting in the issuance of 139,611 shares of common stock. No warrants were outstanding, and there was no warrant activity in the three month period ended September 30, 2022.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Sep. 30, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 9 — RELATED PARTY TRANSACTIONS In July 2021, the Company provided a discretionary $50,000 payment to the Company’s CEO and Chairman of the Board of Directors for personal guarantees provided in conjunction with financing Company debt. See Note 7.

CUSTOMER AND VENDOR CONCENTRATI

CUSTOMER AND VENDOR CONCENTRATIONS	3 Months Ended
	Sep. 30, 2022
CUSTOMER AND VENDOR CONCENTRATIONS
CUSTOMER AND VENDOR CONCENTRATIONS	NOTE 10 — CUSTOMER AND VENDOR CONCENTRATIONS Customers : At September 30, 2022, the was no amount of outstanding receivables related to this customer. Two customers accounted for 27% and 13% of the Company’s sales for the three months ended September 30, 2021. At September 30, 2021, the amount of outstanding receivables related to these customers was approximately $132,000. Vendors:

LEASE COMMITMENTS AND CONTINGEN

LEASE COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Sep. 30, 2022
LEASE COMMITMENTS AND CONTINGENCIES
LEASE COMMITMENTS AND CONTINGENCIES	NOTE 11 — LEASE COMMITMENTS AND CONTINGENCIES Operating Leases: The Company’s executive office and warehouse lease agreements are classified as operating leases. The lease agreements, as amended, expire on January 31, 2025 and do not include any renewal options. The agreements provide for initial monthly base amounts plus annual escalations through the term of the leases. In addition to the monthly base amounts in the lease agreements, the Company is required to pay a portion of real estate taxes and common operating expenses during the lease terms. The Company’s operating lease expense was $68,000 and $70,000 for the three months ended September 30, 2022 and 2021, respectively. Future minimum lease payments at September 30, 2022 under these arrangements are as follows: ​ ​ ​ ​ ​ ​ (in thousands) ​ ​ Total Operating leases (FOR FISCAL YEAR ENDED JUNE 30,) ​ Payments 2023 ​ $ 221 2024 ​ 302 2025 ​ 154 Total undiscounted operating lease payments ​ $ 677 Less imputed interest (at 8% ) ​ ​ (55) Present value of operating lease payments ​ $ 622 ​ NOTE 11 — LEASE COMMITMENTS AND CONTINGENCIES (continued) The following table sets forth the ROU assets and operating lease liabilities as of September 30, 2022: ​ ​ ​ ​ ​ Assets ​ (in thousands) ROU assets-net ​ $ 604 ​ ​ ​ ​ Liabilities ​ Current operating lease liabilities ​ $ 258 Long-term operating lease liabilities ​ 364 Total ROU liabilities ​ $ 622 ​ The Company’s weighted average remaining lease term for its operating leases is 2.3 years. ​ Legal Matters:

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Sep. 30, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 12 — SUBSEQUENT EVENTS The Company has evaluated subsequent events from September 30, 2022 through November 14, 2022, the date these financial statements were available to be issued and determined that there have been no events that have occurred that would require adjustments to our disclosures in the condensed consolidated financial statements.

BUSINESS ACTIVITY AND SUMMARY_2

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Sep. 30, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Organization	Organization: Moving iMage Acquisition Co. (DBA “Caddy Products”) designs, develops and manufactures innovative products for the entertainment, cinema, grocery, worship, restaurant, sports and restroom industries.
Share Exchange	Share Exchange: In June 2020, MiT LLC members created Moving iMage Technologies, Inc. (“MiT Inc.”) to facilitate the Company’s initial public offering (“IPO”). Upon formation of MiT Inc., 2,000,000 shares of MiT, Inc. common stock were issued to members of MiT LLC. On July 7, 2021, MiT LLC and MiT Inc. entered into an exchange agreement (“Exchange Agreement”) whereby the members of MiT LLC exchanged their membership interests for 2,350,000 shares of common stock in MiT Inc. As a result of the Exchange Agreement, the members of MiT LLC owned approximately 79%, or 4,452,334 shares, of the outstanding common stock of MiT Inc. As a result, MiT LLC (the entity where the Company conducts its business) became a wholly-owned subsidiary of MiT Inc. (the SEC registrant). The transaction was accounted for as a merger of entities under common ownership in accordance with generally accepted accounting principles in the United States of America. This determination was primarily based on the facts that, immediately before and after the transaction: (i) MiT LLC owners owned a substantial majority of the voting rights in the combined company, (ii) MiT LLC designated a majority of the members of the initial board of directors of the combined company, and (iii) MiT LLC’s senior management holds all key positions in the senior management of the combined company.
Initial Public Offering	Initial Public Offering: On July 12, 2021, in connection with the IPO, warrants to purchase 139,611 shares of the Company’s common stock were exercised on a cashless basis.
Impact of the COVID-19 Pandemic	Impact of the COVID-19 Pandemic: Throughout Calendar 2020 and 2021 the theatres reopened as soon as local restrictions and the status of the COVID-19 pandemic would allow. As of September 30, 2022, a large majority of domestic and international theatres were open. The industry’s recovery to historical levels of new film content, both in terms of the number of new films and box office performance, is still underway, as the industry also continues to adjust to evolving theatrical release windows, competition from streaming and other delivery platforms, supply chain delays, inflationary pressures, labor shortages, wage rate pressures and other economic factors. Based on the Company’s current estimates of recovery, it believes it has, and will generate, sufficient cash to sustain operations for a period of 12 months from the issuance of these financial statements. Nonetheless, the COVID-19 pandemic has had, and continues to have, adverse effects on the Company’s business, results of operations, cash flows and financial condition.
Principles of Consolidation	Principles of Consolidation
Basis of Presentation	Basis of Presentation:
Unaudited Interim Condensed Consolidated Financial Statements	Unaudited Interim Condensed Consolidated Financial Statements:
Segment Reporting	Segment Reporting:
Measurement of Fair Values	Measurement of Fair Values : — Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities. — Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices). — Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. Following is the fair value leveling for investment securities that are measured at fair value on a recurring basis as of September 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ Level 1 Level 2 Level 3 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Securities ​ $ 701 ​ $ — ​ $ — ​ $ 701 State and Municipal Debt Securities ​ 860 ​ — ​ — ​ 860 Fixed Income Funds ​ 2,689 ​ — ​ — ​ 2,689 Alternative Funds ​ — ​ 258 ​ — ​ 258 Real Estate Funds ​ — ​ 41 ​ — ​ 41 Subtotal ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,549 Less Long-term ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (315) Net Current ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,234 ​ Following is the fair value leveling for investment securities that are measured at fair value on a recurring basis as of June 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ Level 1 Level 2 Level 3 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Securities ​ $ 764 ​ $ — ​ $ — ​ $ 764 State and Municipal Debt Securities ​ 889 ​ — ​ — ​ 889 Fixed Income Funds ​ 2,687 ​ — ​ — ​ 2,687 Alternative Funds ​ — ​ 300 ​ — ​ 300 Real Estate Funds ​ — ​ 48 ​ — ​ 48 Subtotal ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,688 Less Long-term ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (325) Net Current ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,363 ​ The carrying amounts of accounts receivable, accounts payable, and notes payable approximate fair value due to their short maturities. Assets and Liabilities Not Measured
Deferred Offering Costs	Deferred Offering Costs: As of June 30, 2021, $1,116,000 of deferred offering costs were capitalized in other assets. After completion of the IPO in July 2021, these costs were recorded in the condensed consolidated statements of changes in stockholders’ equity (deficit) as a reduction of proceeds received from the offering.
Use of Estimates	Use of Estimates:
Concentration of Cash	Concentration of Cash:
Accounts Receivable	Accounts Receivable:
Inventories	Inventories:
Revenue Recognition	Revenue Recognition: Revenue from Contracts with Customers (“ASC 606”). Revenue is recognized when control of the promised goods is transferred at the point of shipment to a customer and when performance conditions are satisfied, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods as per the agreement with the customer. The Company generates all its revenue from agreements with customers. In case there are agreements with multiple performance obligations, the Company identifies each performance obligation and evaluates whether the performance obligations are distinct within the context of the agreement at the agreement’s inception. Performance obligations that are not distinct at agreement inception are combined. The Company allocates the transaction price to each distinct performance obligation proportionately based on the estimated standalone selling price for each performance obligation and then evaluates how the services are transferred to the customer to determine the timing of revenue recognition. The Company considers the U.S. GAAP criteria for determining whether to report revenue gross as a principal versus net as an agent. Factors considered include whether the Company is the primary obligor, has risks and rewards of ownership, and bears the risk that a customer may not pay for the products provided or services performed. If there are circumstances where the above criteria are not met, revenues recognized are presented net of cost of goods sold. Contract assets consist of conditional or unconditional rights to consideration. Accounts receivable represent amounts billed to customers where the Company has an enforceable right to payment for performance completed to date (i.e., unconditional rights to consideration). The Company does not have contract assets that represent conditional rights to consideration. Contract liabilities consist of refund and warranty liabilities, as well as deposits received in advance on sales to certain customers. Such deposits are reflected as customer deposits and recognized in revenue when control of the products is transferred or when performance conditions are satisfied per the agreement. The change in contract liabilities (customer deposits and unearned warranty revenue) during the three months ended September 30, 2022 included $1.589 million for revenue recognized that was included in contract liabilities as of June 30, 2022. The change in contract liabilities (customer deposits and unearned warranty revenue) during the three months ended September 30, 2021 included $0.573 million for revenue recognized that was included in contract liabilities as of June 30, 2022. Cost of goods sold includes cost of inventory sold during the period, net of vendor discounts and allowances, and shipping and handling costs, and sales taxes. Taxes collected from customers are included in accounts payable on a net basis (excluded from revenues) until remitted to the government. Deferred contract acquisition costs consist of sales commissions paid to the sales force, and the related employer payroll taxes, and are considered incremental and recoverable costs of obtaining a contract with a customer. Management has determined that sales commissions paid are an immaterial component of obtaining a customer’s contract and has elected to expense sales commissions when earned. ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three For the Three ​ ​ Months Ended ​ Months Ended Disaggregation of Revenue (in 000’s): ​ September 30, 2022 ​ September 30, 2021 Equipment upon delivery (point in time) ​ $ 5,714 ​ $ 3,433 Installation (point in time) ​ 126 ​ 41 Software subscription and services (over time) ​ 12 ​ — Total revenues ​ $ 5,852 ​ $ 3,474 ​ Revenue from the sale of equipment is recognized upon shipment of such equipment to customers and when performance conditions are satisfied. Revenue from installation is recognized upon completion of the installation project and when the performance obligation is complete. Software subscription revenue for remote monitoring services is recognized on a straight-line basis over the term of the contract, usually one year. Services revenues are generally recognized over time as the contracts are performed.
Returns and Allowances	Returns and Allowances:
Shipping and Handling Costs	Shipping and Handling Costs:
Advertising Costs	Advertising Costs: for the three months ended September 30, 2022 and 2021, respectively. Advertising costs are expensed as incurred within selling and marketing expenses.
Goodwill and Intangible Assets	Goodwill and Intangible Assets: “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” Goodwill is at risk of future impairment in the event of significant unexpected changes in the Company’s forecasted future results and cash flows, or if there is a negative change in the long-term outlook for the business or in other factors such as the discount rate, or if there is a decline in the stock price. Intangible assets arising from business combinations, such as customer relationships, trade names, and/or intellectual property, are initially recorded at fair value. The Company amortizes these intangible assets over the determined useful life which generally ranges from 11 to 20 years. The Company reviews its intangible assets for impairment whenever events or circumstances indicate that the carrying amount of an asset may not be fully recoverable. There were no intangible asset impairments recognized for the three months ended September 30, 2022 or 2021.
Business Combinations	Business Combinations:
Income Taxes	Income Taxes: The following table summarizes the components of deferred tax assets and deferred tax liabilities at June 30, 2022 and September 30, 2022 (in thousands): ​ ​ ​ ​ ​ Deferred Tax ​ ​ Assets (Liabilities) Inventory reserve ​ $ 122 Accumulated depreciation ​ (6) Accumulated intangible amortization ​ (4) Deferred rent ​ 6 Warranty reserve ​ 5 Stock compensation ​ ​ 68 Net operating loss carryforward ​ ​ 594 Unrealized loss on marketable securities ​ ​ 68 Allowance for doubtful accounts ​ 39 Net ​ ​ 892 Valuation allowance ​ (892) Total June 30, 2022 ​ $ — ​ ​ ​ ​ Inventory reserve ​ $ 112 Accumulated depreciation ​ (6) Accumulated intangible amortization ​ (14) Deferred rent ​ 5 Warranty reserve ​ 13 Stock compensation ​ 111 Net operating loss carryforward ​ 651 Unrealized loss on marketable securities ​ ​ 107 Allowance for doubtful accounts ​ 39 Net ​ ​ 1,018 Valuation allowance ​ (1,018) Total September 30, 2022 ​ $ —
Leases	Leases
Product Warranty	Product Warranty: The changes in the Company’s aggregate warranty liabilities were as follows for the following periods (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended September 30, Year Ended June 30, ​ ​ 2022 ​ 2022 Product warranty liability, beginning of period ​ $ 55 ​ $ 29 Accruals for warranties issued ​ — ​ 60 Settlements made ​ (5) ​ (34) Product warranty liability, end of period ​ $ 50 ​ $ 55
Research and Development	Research and Development:
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements: Other pronouncements issued by FASB with future effective dates are either not applicable or not significant to the consolidated financial statements of the Company.

BUSINESS ACTIVITY AND SUMMARY_3

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Sep. 30, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Summary of fair value leveling for investment securities on recurring basis	Following is the fair value leveling for investment securities that are measured at fair value on a recurring basis as of September 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ Level 1 Level 2 Level 3 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Securities ​ $ 701 ​ $ — ​ $ — ​ $ 701 State and Municipal Debt Securities ​ 860 ​ — ​ — ​ 860 Fixed Income Funds ​ 2,689 ​ — ​ — ​ 2,689 Alternative Funds ​ — ​ 258 ​ — ​ 258 Real Estate Funds ​ — ​ 41 ​ — ​ 41 Subtotal ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,549 Less Long-term ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (315) Net Current ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,234 ​ Following is the fair value leveling for investment securities that are measured at fair value on a recurring basis as of June 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ Level 1 Level 2 Level 3 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Securities ​ $ 764 ​ $ — ​ $ — ​ $ 764 State and Municipal Debt Securities ​ 889 ​ — ​ — ​ 889 Fixed Income Funds ​ 2,687 ​ — ​ — ​ 2,687 Alternative Funds ​ — ​ 300 ​ — ​ 300 Real Estate Funds ​ — ​ 48 ​ — ​ 48 Subtotal ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,688 Less Long-term ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (325) Net Current ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,363
Summary of disaggregation of Revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three For the Three ​ ​ Months Ended ​ Months Ended Disaggregation of Revenue (in 000’s): ​ September 30, 2022 ​ September 30, 2021 Equipment upon delivery (point in time) ​ $ 5,714 ​ $ 3,433 Installation (point in time) ​ 126 ​ 41 Software subscription and services (over time) ​ 12 ​ — Total revenues ​ $ 5,852 ​ $ 3,474

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Sep. 30, 2022
INVESTMENTS
Schedule of Company's cash, cash equivalents and marketable securities by significant investment category	The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category as of September 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current Non-current ​ ​ Adjusted ​ Unrealized ​ Unrealized ​ Fair ​ Cash and ​ Marketable ​ Marketable ​ Cost Gains Losses Value Cash Equivalents Securities Securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash $ 2,294 $ — ​ $ — $ 2,294 $ 2,294 $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equities ​ ​ ​ ​ ​ ​ ​ Communication ​ 45 ​ — ​ ​ (12) ​ 33 ​ — ​ 33 ​ — Consumer Discretionary ​ 49 ​ — ​ (8) ​ ​ 41 ​ — ​ 41 ​ — Consumer Staples ​ 22 ​ — ​ (2) ​ ​ 20 ​ — ​ 20 ​ — Energy ​ 9 ​ — ​ ​ (1) ​ 8 ​ — ​ 8 ​ — Financials ​ 44 ​ — ​ ​ (10) ​ 34 ​ — ​ 34 ​ — Health Care ​ 40 ​ — ​ (3) ​ ​ 37 ​ — ​ 37 ​ — Industrials ​ 27 ​ — ​ (7) ​ ​ 20 ​ — ​ 20 ​ — Information Technology ​ 128 ​ — ​ (32) ​ ​ 96 ​ — ​ 96 ​ — Materials ​ 12 ​ — ​ (2) ​ ​ 10 ​ — ​ 10 ​ — Real Estate ​ 9 ​ — ​ ​ (2) ​ ​ 7 ​ — ​ 7 ​ — Utilities ​ 6 ​ — ​ — ​ ​ 6 ​ — ​ 6 ​ — Mutual Funds ​ 480 ​ — ​ ​ (91) ​ 389 ​ — ​ 389 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ Subtotal ​ 871 ​ — ​ (170) ​ 701 ​ — ​ 701 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed Income ​ ​ ​ ​ ​ ​ ​ State & Municipal Bonds ​ 901 ​ — ​ (41) ​ 860 ​ — ​ 545 ​ 315 Fixed income funds ​ 2,838 ​ — ​ (149) ​ 2,689 ​ — ​ 2,689 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal ​ 3,739 ​ — ​ (190) ​ 3,549 ​ — ​ 3,234 ​ 315 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alternative, real estate and other ​ 321 ​ — ​ (22) ​ 299 ​ — ​ 299 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 7,225 $ — $ (382) $ 6,843 $ 2,294 $ 4,234 $ 315 The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category as of June 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current Non-current ​ ​ Adjusted ​ Unrealized ​ Unrealized ​ Fair ​ Cash and ​ Marketable ​ Marketable ​ Cost Gains Losses Value Cash Equivalents Securities Securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash $ 2,340 $ — ​ $ — $ 2,340 $ 2,340 $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equities ​ ​ ​ ​ ​ ​ ​ Communication ​ 50 ​ — ​ ​ (11) ​ 39 ​ — ​ 39 ​ — Consumer Discretionary ​ 69 ​ — ​ (15) ​ ​ 54 ​ — ​ 54 ​ — Consumer Staples ​ 19 ​ — ​ — ​ ​ 19 ​ — ​ 19 ​ — Energy ​ 9 ​ — ​ ​ (1) ​ 8 ​ — ​ 8 ​ — Financials ​ 44 ​ — ​ ​ (8) ​ 36 ​ — ​ 36 ​ — Health Care ​ 40 ​ — ​ — ​ ​ 40 ​ — ​ 40 ​ — Industrials ​ 27 ​ — ​ (7) ​ ​ 20 ​ — ​ 20 ​ — Information Technology ​ 133 ​ — ​ (25) ​ ​ 108 ​ — ​ 108 ​ — Materials ​ 10 ​ — ​ (2) ​ ​ 8 ​ — ​ 8 ​ — Real Estate ​ 10 ​ — ​ ​ (2) ​ ​ 8 ​ — ​ 8 ​ — Utilities ​ 6 ​ — ​ — ​ ​ 6 ​ — ​ 6 ​ — Mutual Funds ​ 482 ​ — ​ ​ (64) ​ 418 ​ — ​ 418 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ Subtotal ​ 899 ​ — ​ (135) ​ 764 ​ — ​ 764 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed Income ​ ​ ​ ​ ​ ​ ​ State & Municipal Bonds ​ 906 ​ — ​ (17) ​ 889 ​ — ​ 564 ​ 325 Fixed income funds ​ 2,759 ​ — ​ (72) ​ 2,687 ​ — ​ 2,687 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal ​ 3,665 ​ — ​ (89) ​ 3,576 ​ — ​ 3,251 ​ 325 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alternative, real estate and other ​ 366 ​ — ​ (18) ​ 348 ​ — ​ 348 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 7,270 $ — $ (242) $ 7,028 $ 2,340 $ 4,363 $ 325

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	3 Months Ended
	Sep. 30, 2022
LOSS PER SHARE
Schedule of basic and diluted earnings (loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended For the Three Months Ended ​ ​ September 30, ​ September 30, ​ ​ 2022 ​ 2021 Numerator: ​ ​ ​ ​ ​ ​ Net (loss) ​ $ (95) ​ $ (577) Denominator: ​ ​ Weighted average common shares outstanding, basic and diluted ​ 10,928,724 ​ 10,254,686 ​ ​ ​ ​ ​ ​ ​ Loss per share ​ ​ Basic and diluted ​ $ (0.01) ​ $ (0.06)
Schedule of antidilutive securities excluded	​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Three Months Ended ​ ​ September 30, ​ September 30, ​ 2022 2021 Options ​ 150,000 ​ 150,000 Warrants — ​ 241,500 Total potentially dilutive shares 150,000 ​ 391,500

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	3 Months Ended
	Sep. 30, 2022
PROPERTY, PLANT AND EQUIPMENT
Schedule of property, plant and equipment	Property, plant and equipment consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, June 30, ​ ​ 2022 ​ 2022 Production equipment ​ $ 307 ​ $ 307 Leasehold improvements ​ 213 ​ 213 Furniture and fixtures ​ 45 ​ 45 Computer equipment ​ 49 ​ 47 Other equipment ​ 120 ​ 120 ​ ​ 734 ​ 732 Accumulated depreciation ​ (712) ​ (710) Net property plant and equipment ​ $ 22 ​ $ 22
Schedule of estimated useful lives of the assets	​ ​ ​ ​ ​ Useful Lives Leasehold improvements 5 years or remaining lease term Furniture and fixtures 5 years Production equipment 3 – 7 years Computer equipment 3 years Other equipment 3 – 7 years

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Sep. 30, 2022
GOODWILL AND INTANGIBLE ASSETS
Summary of intangible assets	The following table summarizes the Company’s intangible assets as of September 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization Gross Asset Accumulated Net Book ​ ​ Period ​ Cost ​ Amortization ​ Value Customer relationships 11 years ​ $ 970 ​ $ 279 ​ $ 691 Patents 20 years ​ 70 ​ 12 ​ 58 Trademark 20 years ​ 78 ​ 12 ​ 66 ​ ​ ​ ​ $ 1,118 ​ $ 303 ​ $ 815 ​ The following table summarizes the Company’s intangible assets as of June 30, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization Gross Asset Accumulated Net Book ​ ​ Period ​ Cost ​ Amortization ​ Value Customer relationships 11 years ​ $ 970 ​ $ 257 ​ $ 713 Patents 20 years ​ 70 ​ 10 ​ 60 Trademark 20 years ​ 78 ​ 12 ​ 66 ​ ​ ​ ​ $ 1,118 ​ $ 279 ​ $ 839
Summary of estimated amortization expense related to intangible assets	Estimated amortization expense related to intangible assets subject to amortization at September 30, 2022 in each of the five years subsequent to September 30, 2022, and thereafter is as follows (in thousands): ​ ​ ​ ​ ​ 2023 $ 72 2024 ​ 96 2025 ​ 96 2026 ​ 96 2027 ​ 96 Thereafter ​ 359 Total ​ $ 815

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	3 Months Ended
	Sep. 30, 2022
ACCRUED EXPENSES
Schedule of accrued expenses	Accrued expenses consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, June 30, ​ ​ 2022 ​ 2022 Employee compensation ​ $ 283 ​ $ 519 Accrued warranty ​ ​ 50 ​ ​ 55 Others ​ 197 ​ 81 Total ​ $ 530 ​ $ 655

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of weighted average assumptions were used for option grants	​ ​ ​ ​ Risk-free interest rate 1.32 % Expected volatility 61.0 % Dividend yield 0 % Expected option term in years 5.5 ​
Options outstanding by exercise price range	The following table summarizes information about outstanding and exercisable stock options at September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number ​ Wtd. Avg. ​ Range of Exercise Price ​ Outstanding ​ Wtd. Avg, Life ​ Exercise Price $ 3.00 150,000 8.8 years ​ $ 3.00
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of stock options changes	​ ​ ​ ​ ​ ​ ​ ​ ​ Wtd. Avg. ​ ​ ​ ​ Exercise ​ ​ Options ​ Price Balance, July 1, 2022 150,000 ​ $ 3.00 Granted during the period — ​ — Exercised during the period — ​ — Terminated/Expired during the period — ​ — Balance, September 30, 2022 150,000 ​ $ 3.00 ​ ​ ​ ​ ​ ​ ​ ​ ​ Wtd. Avg. ​ ​ ​ ​ Exercise ​ ​ Options ​ Price Balance, July 1, 2021 — ​ $ — Granted during the period 150,000 ​ 3.00 Exercised during the period — ​ — Terminated/Expired during the period — ​ — Balance, September 30, 2021 150,000 ​ $ 3.00
Stock warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of stock options changes	​ ​ ​ ​ ​ ​ ​ ​ ​ Wtd. Avg. ​ ​ ​ ​ Exercise ​ ​ Warrants ​ Price Balance, July 1, 2021 236,667 ​ $ 2.76 Granted during the period 241,500 ​ 3.75 Exercised during the period 139,611 ​ 2.76 Terminated/Expired during the period 97,056 ​ 2.76 Balance, September 30, 2021 241,500 ​ $ 3.75

LEASE COMMITMENTS AND CONTING_2

LEASE COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Sep. 30, 2022
LEASE COMMITMENTS AND CONTINGENCIES
Summary of future minimum lease payments	​ ​ ​ ​ ​ ​ (in thousands) ​ ​ Total Operating leases (FOR FISCAL YEAR ENDED JUNE 30,) ​ Payments 2023 ​ $ 221 2024 ​ 302 2025 ​ 154 Total undiscounted operating lease payments ​ $ 677 Less imputed interest (at 8% ) ​ ​ (55) Present value of operating lease payments ​ $ 622
Schedule of ROU assets and operating lease liabilities	The following table sets forth the ROU assets and operating lease liabilities as of September 30, 2022: ​ ​ ​ ​ ​ Assets ​ (in thousands) ROU assets-net ​ $ 604 ​ ​ ​ ​ Liabilities ​ Current operating lease liabilities ​ $ 258 Long-term operating lease liabilities ​ 364 Total ROU liabilities ​ $ 622

BUSINESS ACTIVITY AND SUMMARY_4

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)			1 Months Ended		3 Months Ended		12 Months Ended
	Jul. 12, 2021	Jul. 07, 2021	Jul. 31, 2021	Jun. 30, 2020	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Common stock, Outstanding					10,828,398		10,828,398
Warrants exercised for number of shares			139,611
Warrants exercised for number of shares									$ 1,116,000
Allowance for bad debts								$ 138,000	$ 141,000
Inventory reserve					$ 401,000		$ 434,000
Accounts receivable, net					1,750,000		1,762,000
Revenue recognized included in opening balance					1,589,000	$ 573,000
Impairments recognized					$ 0		$ 0
Initial public offering
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Number of shares issued	4,830,000
Share Price	$ 3
Net proceeds	$ 12,360,000
Underwriting discounts, commissions and other expenses	2,130,000
Other assets to additional paid in capital	$ 1,116,000
Warrants exercised for number of shares	139,611
MiT Inc | MiT Inc
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Number of shares issued				2,000,000
Number of Shares Exchanged		2,350,000
Percentage of outstanding member unit exchanged		79%	41.40%
Common stock, Outstanding		4,452,334
MiT Inc | Initial public offering
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Share Price	$ 3.75
Warrants exercised for number of shares	241,500

BUSINESS ACTIVITY AND SUMMARY_5

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair vale on a recurring basis (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subtotal	$ 4,549	$ 4,688
Less Long-term	(315)	(325)
Net Current	4,234	4,363
Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subtotal	701	764
State and Municipal Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subtotal	860	889
Fixed Income Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subtotal	2,689	2,687
Alternative Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subtotal	258	300
Real Estate Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subtotal	41	48
Level 1 | Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subtotal	701	764
Level 1 | State and Municipal Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subtotal	860	889
Level 1 | Fixed Income Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subtotal	2,689	2,687
Level 2 | Alternative Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subtotal	258	300
Level 2 | Real Estate Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subtotal	$ 41	$ 48

BUSINESS ACTIVITY AND SUMMARY_6

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenues	$ 5,852	$ 3,474
Equipment upon delivery | Point in time
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenues	5,714	3,433
Installation | Point in time
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenues	126	$ 41
Software subscription and services | Over time
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenues	$ 12

BUSINESS ACTIVITY AND SUMMARY_7

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Advertising Costs (Details) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Advertising Expense	$ 6,700	$ 1,000
Impairment of Intangible Assets (Excluding Goodwill)	$ 0	$ 0
Maximum
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Amortization Period	20 years
Minimum
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Amortization Period	11 years

BUSINESS ACTIVITY AND SUMMARY_8

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deferred assets and liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Inventory reserve	$ 112	$ 122
Accumulated depreciation	(6)	(6)
Accumulated intangible amortization	(14)	(4)
Deferred rent	5	6
Warranty reserve	13	5
Stock compensation	111	68
Net operating loss carryforward	651	594
Unrealized loss on marketable securities	107	68
Allowance for doubtful accounts	39	39
Net	1,018	892
Valuation allowance	$ (1,018)	$ (892)

BUSINESS ACTIVITY AND SUMMARY_9

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Leases (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Right-of-use asset	$ 604,000
Lease liabilities	$ 622,000
ASU 842 | Adjustment
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Right-of-use asset		$ 665,000
Lease liabilities		$ 681,000

BUSINESS ACTIVITY AND SUMMAR_10

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Warranty liabilities (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Period of right to return defective products	3 years
Product warranty liability, beginning of period	$ 55,000	$ 29,000
Accruals for warranties issued	0	60,000
Settlements made	(5,000)	(34,000)
Product warranty liability, end of period	$ 50,000	$ 55,000
Maximum
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Warranty period	3 years
Minimum
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Warranty period	1 year

BUSINESS ACTIVITY AND SUMMAR_11

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash, cash equivalents and marketable securities by significant investment category (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	$ 7,225	$ 7,270
Unrealized Losses	(382)	(242)
Fair Value	6,843	7,028
Cash and cash equivalents	2,294	2,340
Current Marketable Securities	4,234	4,363
Non-current Marketable Securities	315	325
Cash.
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	2,294	2,340
Fair Value	2,294	2,340
Cash and cash equivalents	2,294	2,340
Equities
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	871	899
Unrealized Losses	(170)	(135)
Fair Value	701	764
Current Marketable Securities	701	764
Communication
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	45	50
Unrealized Losses	(12)	(11)
Fair Value	33	39
Current Marketable Securities	33	39
Communication
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	49	69
Unrealized Losses	(8)	(15)
Fair Value	41	54
Current Marketable Securities	41	54
Consumer Staples
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	22	19
Unrealized Losses	(2)
Fair Value	20	19
Current Marketable Securities	20	19
Energy
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	9	9
Unrealized Losses	(1)	(1)
Fair Value	8	8
Current Marketable Securities	8	8
Financials
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	44	44
Unrealized Losses	(10)	(8)
Fair Value	34	36
Current Marketable Securities	34	36
Health Care
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	40	40
Unrealized Losses	(3)
Fair Value	37	40
Current Marketable Securities	37	40
Industrials
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	27	27
Unrealized Losses	(7)	(7)
Fair Value	20	20
Current Marketable Securities	20	20
Information Technology
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	128	133
Unrealized Losses	(32)	(25)
Fair Value	96	108
Current Marketable Securities	96	108
Materials
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	12	10
Unrealized Losses	(2)	(2)
Fair Value	10	8
Current Marketable Securities	10	8
Real Estate
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	9	10
Unrealized Losses	(2)	(2)
Fair Value	7	8
Current Marketable Securities	7	8
Utilities
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	6	6
Fair Value	6	6
Current Marketable Securities	6	6
Mutual Funds
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	480	482
Unrealized Losses	(91)	(64)
Fair Value	389	418
Current Marketable Securities	389	418
Fixed Income
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	3,739	3,665
Unrealized Losses	(190)	(89)
Fair Value	3,549	3,576
Current Marketable Securities	3,234	3,251
Non-current Marketable Securities	315	325
State & Municipal Bonds
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	901	906
Unrealized Losses	(41)	(17)
Fair Value	860	889
Current Marketable Securities	545	564
Non-current Marketable Securities	315	325
Fixed income funds
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	2,838	2,759
Unrealized Losses	(149)	(72)
Fair Value	2,689	2,687
Current Marketable Securities	2,689	2,687
Alternative, real estate and other
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Adjusted Cost	321	366
Unrealized Losses	(22)	(18)
Fair Value	299	348
Current Marketable Securities	$ 299	$ 348

INVESTMENTS - Cash, cash equiva

INVESTMENTS - Cash, cash equivalents and marketable securities by significant investment category (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022
Net Investment Income [Line Items]
Adjusted Cost	$ 7,225	$ 7,270
Unrealized Losses	(382)	(242)
Fair Value	6,843	7,028
Cash and cash equivalents	2,294	2,340
Current Marketable Securities	4,234	4,363
Non-current Marketable Securities	315	325
Cash.
Net Investment Income [Line Items]
Adjusted Cost	2,294	2,340
Fair Value	2,294	2,340
Cash and cash equivalents	2,294	2,340
Equities
Net Investment Income [Line Items]
Adjusted Cost	871	899
Unrealized Losses	(170)	(135)
Fair Value	701	764
Current Marketable Securities	701	764
Communication
Net Investment Income [Line Items]
Adjusted Cost	45	50
Unrealized Losses	(12)	(11)
Fair Value	33	39
Current Marketable Securities	33	39
Consumer Discretionary
Net Investment Income [Line Items]
Adjusted Cost	49	69
Unrealized Losses	(8)	(15)
Fair Value	41	54
Current Marketable Securities	41	54
Consumer Staples
Net Investment Income [Line Items]
Adjusted Cost	22	19
Unrealized Losses	(2)
Fair Value	20	19
Current Marketable Securities	20	19
Energy
Net Investment Income [Line Items]
Adjusted Cost	9	9
Unrealized Losses	(1)	(1)
Fair Value	8	8
Current Marketable Securities	8	8
Financials
Net Investment Income [Line Items]
Adjusted Cost	44	44
Unrealized Losses	(10)	(8)
Fair Value	34	36
Current Marketable Securities	34	36
Health Care
Net Investment Income [Line Items]
Adjusted Cost	40	40
Unrealized Losses	(3)
Fair Value	37	40
Current Marketable Securities	37	40
Industrials
Net Investment Income [Line Items]
Adjusted Cost	27	27
Unrealized Losses	(7)	(7)
Fair Value	20	20
Current Marketable Securities	20	20
Information Technology
Net Investment Income [Line Items]
Adjusted Cost	128	133
Unrealized Losses	(32)	(25)
Fair Value	96	108
Current Marketable Securities	96	108
Materials
Net Investment Income [Line Items]
Adjusted Cost	12	10
Unrealized Losses	(2)	(2)
Fair Value	10	8
Current Marketable Securities	10	8
Real Estate
Net Investment Income [Line Items]
Adjusted Cost	9	10
Unrealized Losses	(2)	(2)
Fair Value	7	8
Current Marketable Securities	7	8
Utilities
Net Investment Income [Line Items]
Adjusted Cost	6	6
Fair Value	6	6
Current Marketable Securities	6	6
Mutual Funds
Net Investment Income [Line Items]
Adjusted Cost	480	482
Unrealized Losses	(91)	(64)
Fair Value	389	418
Current Marketable Securities	389	418
Fixed Income
Net Investment Income [Line Items]
Adjusted Cost	3,739	3,665
Unrealized Losses	(190)	(89)
Fair Value	3,549	3,576
Current Marketable Securities	3,234	3,251
Non-current Marketable Securities	315	325
State & Municipal Bonds
Net Investment Income [Line Items]
Adjusted Cost	901	906
Unrealized Losses	(41)	(17)
Fair Value	860	889
Current Marketable Securities	545	564
Non-current Marketable Securities	315	325
Fixed income funds
Net Investment Income [Line Items]
Adjusted Cost	2,838	2,759
Unrealized Losses	(149)	(72)
Fair Value	2,689	2,687
Current Marketable Securities	2,689	2,687
Alternative, real estate and other
Net Investment Income [Line Items]
Adjusted Cost	321	366
Unrealized Losses	(22)	(18)
Fair Value	299	348
Current Marketable Securities	$ 299	$ 348

LOSS PER SHARE (Details)

LOSS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net (loss)	$ (95)	$ (577)
Denominator:
Weighted average common shares outstanding, basic	10,928,724	10,254,686
Weighted average common shares outstanding, diluted	10,928,724	10,254,686
Loss per share
Basic	$ (0.01)	$ (0.06)
diluted	$ (0.01)	$ (0.06)

LOSS PER SHARE - Antidilutive s

LOSS PER SHARE - Antidilutive shares (Details) - shares	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares	150,000	391,500
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares	150,000	150,000
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares		241,500

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, gross	$ 734	$ 732
Accumulated depreciation	(712)	(710)
Net property plant and equipment	22	22
Production equipment
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, gross	307	307
Leasehold improvements
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, gross	213	213
Furniture and fixtures
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, gross	45	45
Computer equipment
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, gross	49	47
Other equipment
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, gross	$ 120	$ 120

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Depreciation expense (Details) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
PROPERTY, PLANT AND EQUIPMENT
Depreciation	$ 2,000	$ 13,000
Property, plant and equipment
PROPERTY, PLANT AND EQUIPMENT
Depreciation	2,000	13,000
Cost of goods sold
PROPERTY, PLANT AND EQUIPMENT
Depreciation	0	9,000
General and administrative expense.
PROPERTY, PLANT AND EQUIPMENT
Depreciation	$ 2,000	$ 4,000

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT - Useful lives (Details)	3 Months Ended
	Sep. 30, 2022
Leasehold improvements
PROPERTY, PLANT AND EQUIPMENT
Estimated useful life	5 years
Furniture and fixtures
PROPERTY, PLANT AND EQUIPMENT
Estimated useful life	5 years
Production equipment | Maximum
PROPERTY, PLANT AND EQUIPMENT
Estimated useful life	7 years
Production equipment | Minimum
PROPERTY, PLANT AND EQUIPMENT
Estimated useful life	3 years
Computer equipment
PROPERTY, PLANT AND EQUIPMENT
Estimated useful life	3 years
Other equipment | Maximum
PROPERTY, PLANT AND EQUIPMENT
Estimated useful life	7 years
Other equipment | Minimum
PROPERTY, PLANT AND EQUIPMENT
Estimated useful life	3 years

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022
Intangible assets
Gross Asset Cost	$ 1,118	$ 1,118
Accumulated Amortization	303	279
Total	$ 815	$ 839
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization Period	11 years	11 years
Intangible assets
Gross Asset Cost	$ 970	$ 970
Accumulated Amortization	279	257
Total	$ 691	$ 713
Patents
Finite-Lived Intangible Assets [Line Items]
Amortization Period	20 years	20 years
Intangible assets
Gross Asset Cost	$ 70	$ 70
Accumulated Amortization	12	10
Total	$ 58	$ 60
Trademark
Finite-Lived Intangible Assets [Line Items]
Amortization Period	20 years	20 years
Intangible assets
Gross Asset Cost	$ 78	$ 78
Accumulated Amortization	12	12
Total	$ 66	$ 66

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Amortization expense (Details) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
INTANGIBLE ASSETS
Amortization expense	$ 24,000	$ 24,000
General and administrative expense.
INTANGIBLE ASSETS
Amortization expense	$ 24,000	$ 24,000

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Estimated amortization expense related to intangible assets subject to amortization (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 72,000
2024	96,000
2025	96,000
2026	96,000
2027	96,000
Thereafter	359,000
Total	815,000	$ 839,000
Goodwill	$ 287,000	$ 287,000

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
ACCRUED EXPENSES
Employee compensation	$ 283	$ 519
Accrued warranty	50	55
Others	197	81
Total	$ 530	$ 655

DEBT - Line of Credit and Notes

DEBT - Line of Credit and Notes Payable (Details) - USD ($)	1 Months Ended
	Aug. 31, 2021	Oct. 31, 2019	Jul. 31, 2021
DEBT
Number of shares for which warrants exercised			139,611
Line of credit			$ 590,000
Caddy promissory note
DEBT
Repayments of notes payable	$ 1,241,000
Line of Credit
DEBT
Maximum borrowing capacity		$ 1,000,000
Number of shares for which warrants exercised		94,723
Amount of proceeds from loan used to pay business combination		$ 400,000

DEBT - Long term debt (Details)

DEBT - Long term debt (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022
DEBT
Balance	$ 0	$ 0

DEBT - Caddy Promissory (Detail

DEBT - Caddy Promissory (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022
DEBT
Balance	$ 0	$ 0

DEBT - Paycheck Protection Prog

DEBT - Paycheck Protection Program (Details) - USD ($)			1 Months Ended
	Mar. 13, 2021	May 06, 2020	Apr. 30, 2022	May 31, 2021	Sep. 30, 2022	Jun. 30, 2022
DEBT
Debt forgiven				$ 694,000
Outstanding debt					$ 0	$ 0
PPP loan
DEBT
Proceeds from loan	$ 698,000	$ 694,000
Accrued interest			$ 698,000

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($)			1 Months Ended	3 Months Ended
	Jul. 12, 2022	Jul. 07, 2021	Jul. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Limited Partners' Capital Account [Line Items]
Maximum stock based awards available for issuance				1,500,000
Share based payment award option outstanding				1,220,000
Options granted			150,000
Exercise price, granted			$ 3
Vesting period			1 year
Option expiration period			10 years
Aggregate grant date fair value			$ 244,200
Grant-date fair value					$ 1.63
Total unrecognized compensation				$ 0
Value of shares issued				153,000
Warrants exercised for number of shares			139,611
Stock or Unit Option Plan Expense				0	$ 56,000
Employees
Limited Partners' Capital Account [Line Items]
Number of shares issued	130,000
Value of shares issued	$ 153,000
Warrants
Limited Partners' Capital Account [Line Items]
Warrants outstanding				$ 0
MIT LLC | MiT Inc
Limited Partners' Capital Account [Line Items]
Shares of common stock issued for acquiring members unit			2,350,000
Percentage of outstanding member unit exchanged		79%	41.40%

STOCKHOLDERS' EQUITY - Weighted

STOCKHOLDERS' EQUITY - Weighted average assumptions (Details)	3 Months Ended
	Sep. 30, 2021
STOCKHOLDERS' EQUITY.
Risk-free interest rate	1.32%
Expected volatility	61%
Dividend yield	0%
Expected option term in years	5 years 6 months

STOCKHOLDERS' EQUITY - Stock op

STOCKHOLDERS' EQUITY - Stock options and warrants (Details) - $ / shares	1 Months Ended	3 Months Ended
	Jul. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted during the period	150,000
Exercise price, granted	$ 3
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance	0	150,000	0
Granted during the period		0	150,000
Ending balance		150,000	150,000
Weighted Average Exercise Price, outstanding beginning	$ 0	$ 3	$ 0
Exercise price, granted		0	3
Weighted Average Exercise Price, outstanding ending		$ 3	$ 3
Stock warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance	236,667		236,667
Granted during the period			241,500
Exercised during the period			139,611
Terminated/Expired during the period			97,056
Ending balance			241,500
Weighted Average Exercise Price, outstanding beginning	$ 2.76		$ 2.76
Exercise price, granted			3.75
Exercise price, exercised			2.76
Terminated/Expired during the year			2.76
Weighted Average Exercise Price, outstanding ending			$ 3.75

STOCKHOLDERS' EQUITY - Exercisa

STOCKHOLDERS' EQUITY - Exercisable stock (Details)	3 Months Ended
	Sep. 30, 2022 $ / shares shares
Exercise price	$ 3
Number Outstanding | shares	150,000
Wd. Avg. Life	8 years 9 months 18 days
Wd. Avg. Exercise Price	$ 3
Exercise Price $3.00
Exercise price	3
Wd. Avg. Exercise Price	$ 3

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	1 Months Ended
	Jul. 31, 2021 USD ($)
RELATED PARTY TRANSACTIONS
Discretionary payment to the related parties for personal guarantees provided in conjunction with financing company debt	$ 50,000

CUSTOMER AND VENDOR CONCENTRA_2

CUSTOMER AND VENDOR CONCENTRATIONS - Customer concentrations (Details) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
CUSTOMER AND VENDOR CONCENTRATIONS
Outstanding receivables	$ 1,750,000		$ 1,762,000
Sales | Customer concentration | Customer one
CUSTOMER AND VENDOR CONCENTRATIONS
Concentration risk percentage	17%	27%
Sales | Customer concentration | Customer two
CUSTOMER AND VENDOR CONCENTRATIONS
Concentration risk percentage		13%
Outstanding receivables | Customer concentration
CUSTOMER AND VENDOR CONCENTRATIONS
Outstanding receivables	$ 0	$ 132,000

CUSTOMER AND VENDOR CONCENTRA_3

CUSTOMER AND VENDOR CONCENTRATIONS - Vendor concentrations (Details) - Purchases - Supplier concentration	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Vendor one
CUSTOMER AND VENDOR CONCENTRATIONS
Concentration risk percentage	32%
Vendor two
CUSTOMER AND VENDOR CONCENTRATIONS
Concentration risk percentage	14%	21%

LEASE COMMITMENTS AND CONTING_3

LEASE COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
LEASE COMMITMENTS AND CONTINGENCIES
Operating lease expense	$ 68,000	$ 70,000
Imputed interest rate percentage	8%
Weighted average remaining lease term for operating leases (in years)	2 years 3 months 18 days

LEASE COMMITMENTS AND CONTING_4

LEASE COMMITMENTS AND CONTINGENCIES - Future minimum lease payments (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Future minimum lease payments
2023	$ 221
2024	302
2025	154
Total undiscounted operating lease payments	677
Less imputed interest (at 8%)	(55)
Present value of operating lease payments	$ 622

LEASE COMMITMENTS AND CONTING_5

LEASE COMMITMENTS AND CONTINGENCIES - ROU assets and operating lease liabilities (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Assets
ROU assets-net	$ 604
Operating Lease, Liability [Abstract]
Current operating lease liabilities	258
Long-term operating lease liabilities	364
Total ROU liabilities	$ 622