Moving iMage (MITQ) 10-Q 15 May 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2023	May 15, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
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		10,913,510
Entity Central Index Key	0001770236
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Current Assets:
Cash and cash equivalents	$ 6,357	$ 2,340
Marketable securities - current		4,363
Accounts receivable, net	979	1,762
Inventories, net	4,836	4,033
Prepaid expenses and other	575	864
Total Current Assets	12,747	13,362
Long-Term Assets:
Marketable securities - non-current		325
Right-of-use asset	479
Property and equipment, net	23	22
Intangibles, net	768	839
Goodwill	287	287
Other assets	16	16
Total Long-Term Assets	1,573	1,489
Total Assets	14,320	14,851
Current Liabilities:
Accounts payable	2,141	1,583
Accrued expenses	496	655
Customer deposits	2,092	3,158
Lease liability-current	272
Unearned warranty revenue	48	18
Total Current Liabilities	5,049	5,414
Long-Term Liabilities:
Lease liability-non-current	224
Deferred rent		22
Total Long-Term Liabilities	224	22
Total Liabilities	5,273	5,436
Stockholders' Equity
Common stock, $0.00001 par value, 100,000,000 shares authorized, 10,958,398 and 10,828,398 shares issued; 10,910,931 and 10,828,398 outstanding at March 31, 2022 and June 30, 2022, respectively
Additional paid-in capital	12,604	12,500
Accumulated deficit	(3,557)	(3,085)
Total Stockholders' Equity	9,047	9,415
Total Liabilities and Stockholders' Equity	$ 14,320	$ 14,851

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	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	10,828,398
Common stock, outstanding	10,910,931	10,828,398

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 3,741	$ 5,835	$ 14,435	$ 12,728
Cost of goods sold	2,699	4,468	10,523	9,743
Gross profit	1,042	1,367	3,912	2,985
Operating expenses:
Research and development	66	53	195	172
Selling and marketing	663	539	1,867	1,653
General and administrative	839	906	2,464	2,470
Total operating expenses	1,568	1,498	4,526	4,295
Operating loss	(526)	(131)	(614)	(1,310)
Other (income) expenses:
Realized (gain) on investments	(81)	(17)	(243)	(17)
Unrealized (gain)/loss on investments			167
PPP loan and interest forgiveness		(705)		(705)
Interest and other income	(1)	(1)	(5)	(2)
Interest expense		2		40
Other Non-operating Expenses	(20)		(61)
Total other (income) expense	(102)	(724)	(142)	(684)
Net income (loss)	$ (424)	$ 593	$ (472)	$ (626)
Weighted average shares outstanding: basic	10,956,413	10,636,278	10,947,790	10,508,152
Weighted average shares outstanding: diluted	10,956,413	10,636,278	10,947,790	10,508,152
Net loss per common share basic	$ (0.04)	$ 0.06	$ (0.04)	$ (0.06)
Net loss per common share diluted	$ (0.04)	$ 0.06	$ (0.04)	$ (0.06)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Total
Balance at the beginning at Jun. 30, 2020		$ 1,011	$ (1,740)	$ (729)
Balance at the beginning (in shares) at Jun. 30, 2020	5,666,667
Share of common stock issued, net of issuance costs		11,244		11,244
Share of common stock issued, net of issuance costs (in shares)	4,830,000
Cashless exercise of warrants (in shares)	139,611
Grant of options for services		56		56
Net income (loss)			(577)	(577)
Balance at the end at Sep. 30, 2020		12,311	(2,317)	9,994
Balance at the end (in shares) at Sep. 30, 2020	10,636,278
Grant of options for services		62		62
Net income (loss)			(644)	(644)
Balance at the end at Dec. 31, 2020		12,373	(2,961)	9,412
Balance at the end (in shares) at Dec. 31, 2020	10,636,278
Grant of options for services		60		60
Net income (loss)			593	593
Balance at the end at Mar. 31, 2021		12,433	(2,368)	10,065
Balance at the end (in shares) at Mar. 31, 2021	10,636,278
Balance at the beginning at Jun. 30, 2022	$ 0	12,500	(3,085)	9,415
Balance at the beginning (in shares) at Jun. 30, 2022	10,828,398
Issuance of stock to employees	$ 0	153	0	153
Issuance of stock to employees (in shares)	130,000
Net income (loss)	$ 0	0	(95)	(95)
Balance at the end at Sep. 30, 2022	$ 0	12,653	(3,180)	9,473
Balance at the end (in shares) at Sep. 30, 2022	10,958,398
Balance at the beginning at Jun. 30, 2022	$ 0	12,500	(3,085)	$ 9,415
Balance at the beginning (in shares) at Jun. 30, 2022	10,828,398
Share buyback and cancellation (in shares)				47,467
Balance at the end at Mar. 31, 2023	$ 0	12,604	(3,557)	$ 9,047
Balance at the end (in shares) at Mar. 31, 2023	10,910,931
Balance at the beginning at Sep. 30, 2022	$ 0	12,653	(3,180)	9,473
Balance at the beginning (in shares) at Sep. 30, 2022	10,958,398
Net income (loss)	$ 0	0	46	46
Balance at the end at Dec. 31, 2022	$ 0	12,653	(3,134)	9,519
Balance at the end (in shares) at Dec. 31, 2022	10,958,398
Net income (loss)	$ 0	0	(424)	(424)
Share buyback and cancellation	$ 0	(49)	0	(49)
Share buyback and cancellation (in shares)	(47,467)
Balance at the end at Mar. 31, 2023	$ 0	$ 12,604	$ (3,557)	$ 9,047
Balance at the end (in shares) at Mar. 31, 2023	10,910,931

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (472)	$ (626)
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for (reversal of) doubtful accounts	5	(230)
Depreciation expense	6	15
Amortization expense	72	72
Realized loss (gain) on investments	(76)	(17)
Stock compensation expense		178
Deferred rent		(1)
PPP loan forgiveness		(705)
Changes in operating assets and liabilities
Accounts receivable	778	(1,002)
Inventories	(803)	(1,451)
Prepaid expenses and other	289	426
Accounts payable	558	326
Accrued expenses	(6)	(99)
Unearned warranty revenue	30	3
Customer deposits	(1,066)	2,195
Net cash used in operating activities	(685)	(916)
Cash flows from investing activities
Proceeds from the sales of marketable securities	12,418	(3,412)
Purchase of marketable securities	(7,660)
Purchases of property and equipment	(7)	(18)
Net cash provided by (used in) investing activities	4,751	(3,430)
Cash flows from financing activities
Net Proceeds from initial public offering		11,244
Payments on line of credit		(590)
Payments on notes payable		(1,241)
Stock Buyback	(49)
Net cash (used in) provided by financing activities	(49)	9,413
Net increase in cash and cash equivalents	4,017	5,067
Cash and cash equivalents, beginning of the period	2,340	1,270
Cash and cash equivalents, end of the period	6,357	6,337
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 and liability recorded upon adoption of ASC 842	$ 681
Cash paid during the period:
Interest		$ 40

BUSINESS ACTIVITY AND SUMMARY O

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2023
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 interest 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 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 (“GAAP”). 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 2020 and 2021 the theatres reopened as soon as local restrictions and the status of the COVID-19 pandemic would allow. As of March 31, 2023, 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 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: ​ NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) ​ Marketable Securities: 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 ​ NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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: 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. ​ NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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 nine ​ ​ ​ ​ ​ ​ ​ ​ $in Thousands March 31, 2023 June 30, 2022 Customer deposits ​ $ 2,092 ​ $ 3,157 Unearned warranty revenue ​ 48 ​ 18 Total contract liabilities ​ $ 2,140 ​ $ 3,176 ​ 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. The Company 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 Nine ​ ​ Months Ended ​ Months Ended Disaggregation of Revenue (in 000’s): ​ March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Equipment upon delivery (point in time) ​ $ 3,669 ​ $ 5,701 ​ $ 14,100 ​ $ 4,984 Installation (point in time) ​ 60 ​ 134 ​ 293 ​ 239 Software subscription and services (over time) ​ 12 ​ — ​ 42 ​ — Total revenues ​ $ 3,741 ​ $ 5,835 ​ $ 14,435 ​ $ 12,728 ​ Revenue from the sale of equipment is recognized upon delivery 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. ​ NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Returns and Allowances: Shipping and Handling Costs: 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. Management 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 and nine 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 March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred Tax Assets (Liabilities) ​ ​ June 30, 2022 March 31, 2023 Inventory reserve ​ $ 122 ​ $ 144 Accumulated depreciation ​ (6) ​ (5) Accumulated goodwill amortization ​ (12) ​ (17) Accumulated intangible amortization ​ ​ 8 ​ ​ (18) Unrealized loss on investments ​ ​ 68 ​ ​ — Deferred rent ​ 6 ​ 5 Warranty reserve ​ 5 ​ 13 Stock compensation ​ ​ 68 ​ ​ 68 Net operating loss carryforward ​ ​ 594 ​ ​ 757 Allowance for doubtful accounts ​ 39 ​ 40 Net ​ ​ 892 ​ ​ 919 Valuation allowance ​ (892) ​ (919) Total ​ $ — ​ $ — ​ Leases Product Warranty: The changes in the Company’s aggregate warranty liabilities were as follows for the following periods (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended March 31, Year Ended June 30, ​ ​ 2023 ​ 2022 Product warranty liability, beginning of period ​ $ 50 ​ $ 29 Accruals for warranties issued ​ 46 ​ 60 Settlements made ​ (44) ​ (34) Product warranty liability, end of period ​ $ 52 ​ $ 55 ​ Research and Development: ​ NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Recently Issued Accounting Pronouncements:

INVESTMENTS

INVESTMENTS	9 Months Ended
	Mar. 31, 2023
INVESTMENTS
INVESTMENTS	NOTE 2 — INVESTMENTS In March 2023, the Company sold all its marketable securities with the proceeds deposited to the Company’s cash account. The table below shows the marketable securities activity during the three months ended March 31, 2023. The $4.886 million ending balance was transferred the Company’s cash accounts in March 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted ​ Unrealized ​ Unrealized ​ Fair ​ Cash and ​ Marketable ​ Marketable ​ Cost Gains Losses Value Cash Equivalents Securities Securities Cash $ 4,886 $ — $ — $ 4,886 $ 4,886 $ — $ — ​ 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 (amounts in 000’s): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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	9 Months Ended
	Mar. 31, 2023
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 Nine Months Ended For the Three Months Ended For the Nine Months Ended ​ ​ March 31, ​ March 31, March 31, ​ March 31, ​ ​ 2023 ​ 2023 2022 ​ 2022 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss in 000’s) ​ $ (424) ​ $ (472) ​ $ 593 ​ $ (626) Denominator: ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding, basic and diluted ​ ​ 10,956,413 ​ ​ 10,947,790 ​ 10,636,278 ​ 10,508,152 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (Loss) per share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ $ (0.04) ​ $ (0.04) ​ $ 0.06 ​ $ (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 Nine Months Ended ​ For the Three Months Ended ​ For the Nine Months Ended ​ ​ March 31, ​ March 31, ​ March 31, ​ March 31, ​ 2023 2023 2022 2022 Options ​ 150,000 ​ 150,000 ​ 150,000 ​ 150,000 Warrants — ​ — ​ 241,500 241,500 Total potentially dilutive shares 150,000 ​ 150,000 ​ 391,500 391,500 ​ For the nine months ended March 31, 2023 and the nine months ended March 31, 2022, 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. For the three months ended March 31, 2023 the Company had net losses and the three months ended March 31, 2022 had net income. However, all potentially dilutive securities were also deemed to be anti-dilutive because their exercise price exceeded the weighted average trading price of the Company’s stock for the period.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Mar. 31, 2023
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT	NOTE 4 — PROPERTY AND EQUIPMENT Property and equipment consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, June 30, ​ ​ 2022 ​ 2022 Production equipment ​ $ 307 ​ $ 307 Leasehold improvements ​ 213 ​ 213 Furniture and fixtures ​ 45 ​ 45 Computer equipment ​ 53 ​ 47 Other equipment ​ 120 ​ 120 ​ ​ 738 ​ 732 Accumulated depreciation ​ (715) ​ (710) Net property and equipment ​ $ 23 ​ $ 22 ​ Depreciation expense related to property and equipment was $2,000 and $3,000 for the three months ended March 31, 2023 and 2022, respectively, of which $0 and $0 is included in cost of goods sold and $3,000 and $3,000 in general and administrative expense, respectively. Depreciation expense related to property and equipment was $6,000 and $15,000 for the nine months ended March 31, 2023 and 2022, respectively, of which $0 and $9,000 is included in cost of goods sold and $7,000 and $6,000 in general and administrative expense, respectively. Depreciation of property 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	9 Months Ended
	Mar. 31, 2023
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 March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization Gross Asset Accumulated Net Book ​ ​ Period ​ Cost ​ Amortization ​ Value Customer relationships 11 years ​ $ 970 ​ $ 323 ​ $ 647 Patents 20 years ​ 70 ​ 13 ​ 57 Trademark 20 years ​ 78 ​ 14 ​ 64 ​ ​ ​ ​ $ 1,118 ​ $ 350 ​ $ 768 ​ ​ NOTE 5 — GOODWILL AND INTANGIBLE ASSETS (continued) ​ 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 months ended March 31, 2023 and 2022, respectively, and was $72,000 and $72,000 for the nine ​ Estimated amortization expense related to intangible assets subject to amortization at March 31, 2023 in each of the five years subsequent to March 31, 2023, and thereafter is as follows (amounts in thousands): ​ ​ ​ ​ ​ 2023 (remaining quarter of 2023) $ 24 2024 ​ 96 2025 ​ 96 2026 ​ 96 2027 ​ 96 Thereafter ​ 360 Total ​ $ 768 ​

ACCRUED EXPENSES

ACCRUED EXPENSES	9 Months Ended
	Mar. 31, 2023
ACCRUED EXPENSES
ACCRUED EXPENSES	NOTE 6 — ACCRUED EXPENSES Accrued expenses consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, June 30, ​ ​ 2023 ​ 2022 Employee compensation ​ $ 220 ​ $ 519 Accrued warranty ​ ​ 52 ​ ​ 55 Customer refund ​ ​ 135 ​ ​ — Others ​ 89 ​ 81 Total ​ $ 496 ​ $ 655 ​

DEBT

DEBT	9 Months Ended
	Mar. 31, 2023
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, has been 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 March 31, 2023 or June 30, 2022.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Mar. 31, 2023
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 March 31, 2023, 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 March 31, 2023. 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. These options, which were the only options granted during the nine months ended March 31, 2021, had a grant-date fair value of $1.63 per share. The Company recognized compensation expense for stock option awards of approximately $62,000 and $118,000 during the three and nine months ended March 31, 2021, respectively. The Company recognized no compensation expense for stock options during the three and nine months ended March 31, 2023. On March 6, 2023, the Board of Directors (the “Board”) of Moving iMage Technologies, Inc. (the “Company”) approved an amendment (the “Amendment”) to the Company’s Amended and Restated Bylaws that amends the quorum for a stockholders’ meeting or action to be at least 33 1/3% of all shares of stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy. At March 31, 2023, there was no unrecognized compensation cost related to nonvested stock option awards. On March 23, 2023 the Board of Directors re-authorized a stock repurchase program. Under the stock repurchase program, the Company may repurchase up to $1 million of its outstanding common stock over the next 12 months. During the period of March 24 through 31, 2023, the Company repurchased 47,467 of the Company’s stock representing 0.44% of the 10,828,398 outstanding shares at the end of June 30, 2022 at an average price of $1.025 per share. ​ $ in Thousands, except shares and dollar per share amounts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Number of Approximate ​ ​ ​ ​ ​ ​ ​ Shares ​ Dollar Value of ​ ​ ​ ​ ​ ​ ​ Purchased as ​ Shares that May ​ ​ Total Number of ​ ​ ​ ​ Part of Publicly ​ Yet Be Purchased ​ ​ Shares ​ Average Price ​ Announced Plans ​ Under the Plans Period ​ Purchased ​ Paid per Share ​ or Programs ​ or Programs March 23, 2023 – March 31, 2023 ​ 47,467 ​ $ 1.025 ​ 47,467 ​ $ 951 Total ​ 47,467 ​ $ 1.025 ​ 47,467 ​ $ 951 ​ 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 March 31, 2023 and changes during the nine months ended March 31, 2023 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, March 31, 2023 150,000 ​ $ 3.00 ​ A summary of the status of the Company’s stock options as of March 31, 2022 and changes during the nine months ended March 31, 2022 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, March 31, 2022 150,000 ​ $ 3.00 ​ The following table summarizes information about outstanding and exercisable stock options at March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number ​ Wtd. Avg. Range of Exercise Price ​ Outstanding ​ Wtd. Avg, Life ​ Exercise Price $ 3.00 150,000 8.5 years ​ $ 3.00 ​ A summary of the status of the Company’s stock warrants as of March 31, 2023 and changes during the nine month period ended March 31, 2023 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, March 31, 2023 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. There was no warrant activity in the nine month period ended March 31, 2023.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Mar. 31, 2023
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	9 Months Ended
	Mar. 31, 2023
CUSTOMER AND VENDOR CONCENTRATIONS
CUSTOMER AND VENDOR CONCENTRATIONS	NOTE 10 — CUSTOMER AND VENDOR CONCENTRATIONS Customers : One customer accounted for 12% of the Company’s sales for the three months ended March 31, 2023. At March 31, 2023, the amount of outstanding receivables related to the two customers was approximately $225,000. Two customers accounted for approximately 11% and 10% of the Company’s sales for the three months ended March 31, 2022. One customer accounted for approximately 32% of the Company’s sales for the nine months ended March 31, 2022. At March 31, 2022, the amount of outstanding receivables related to these customers was approximately $120,000. Vendors: Approximately 22% and 13% of the Company’s purchases were provided by two vendors for the nine months ended March 31, 2023. Approximately 10% of the Company’s purchases were provided by one vendor for the nine months ended March 31, 2022.

LEASE COMMITMENTS AND CONTINGEN

LEASE COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2023
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 $73,000 and $70,000 for the three months ended March 31, 2023 and 2022, respectively. The Company’s operating lease expense was $214,000 and $141,000 for the nine months ended March 31, 2023 and 2022, respectively. ​ NOTE 11 — LEASE COMMITMENTS AND CONTINGENCIES (Continued) Future minimum lease payments at March 31, 2023 under these arrangements are as follows: ​ ​ ​ ​ ​ ​ (in thousands) ​ ​ Total Operating leases ​ Payments 2023 ​ $ 76 2024 ​ 302 2025 ​ 154 Total undiscounted operating lease payments ​ $ 532 Less imputed interest (at 8% ) ​ ​ (36) Present value of operating lease payments ​ $ 496 ​ The following table sets forth the ROU assets and operating lease liabilities as of March 31, 2023: ​ ​ ​ ​ ​ Assets (in thousands) ROU assets-net ​ $ 479 ​ ​ ​ ​ Liabilities ​ Current operating lease liabilities ​ $ 272 Long-term operating lease liabilities ​ 224 Total ROU liabilities ​ $ 496 ​ The Company’s weighted average remaining lease term for its operating leases is 1.75 years. ​ Legal Matters:

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2023
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 12 — SUBSEQUENT EVENTS The Company held its annual meeting of stockholders (“Annual Meeting”) on April 20, 2023. For more information about the proposals set forth below, please see the Company’s definitive Proxy Statement filed with the SEC on March 21, 2023. As of the record date, March 16, 2023, there were 10,913,510 shares of common stock outstanding and entitled to be voted at the Annual On April 20, 2023, William Greene was appointed Chief Financial Officer effective April 20, 2023. Mr. Greene has been the Interim Chief Financial Officer of the Company since January 2023. On April 25, 2023, Moving iMage Technologies, Inc. (the “Company” or “MiT”) entered into a Letter Agreement, subject to definitive agreements, with The Five Agency, LLC (“The Five Agency”). The Five Agency operates gaming leagues at various theaters, cinemas, movie theaters, entertainment complexes and auditoriums, and provides league structures, hosts, management, supervision, coordination with game publishers, marketing and marketing assets for leagues and events under the brand SNDBX. The Five Agency and MiT jointly designed the equipment package that will be used for that purpose. Pursuant to the Letter Agreement, MiT agreed to lend The Five Agency $300,000.00 (the “Loan”), which will be provided in two equal installments as further described below, and The Five Agency will form a separate Florida corporation, SNDBX, INC (“SNDBX”), to conduct that business. As a portion of the consideration payable to MiT under the Loan, upon the formation of SNDBX, The Five Agency will cause SNDBX to issue MiT 5% of the equity of SNDBX, which will be issued to MiT regardless of whether the second $150,000 advance conditions described below are satisfied by The Five Agency or SNDBX. Plus, MiT has the right to participate in any and all future capital and debt offerings by SNDBX. NOTE 12 — SUBSEQUENT EVENTS (continued) Pursuant to the terms of the Loan, on April 25, 2023, and subject to the satisfaction of the conditions described in the Letter Agreement, MiT extended an initial loan of $150,000 to The Five Agency with interest at 10% per annum payable each year commencing on May 1, 2024 with principal due on May 1, 2026. The Loan is secured by the Patents (as defined below). MiT also agreed to advance an additional $150,000 upon the request of The Five Agency upon satisfying certain customary conditions, such as execution of definitive agreements and board and other approvals, and completing the following conditions by May 31, 2023: (i) (ii) (iii) (iv) MiT and either The Five Agency or SNDBX will be co-owners of the equipment patents (the “Patents”) and will share the costs. The Five Agency will apply for Patents on or before April 30, 2024 and after expiration of the Supply Agreement in three years, either party may sell equipment to others with MiT entitled to a reasonable royalty rate equal to a percentage the net sales. In the event of a transfer of the co-owned Patent rights, MiT will automatically become the sole owner of the Patents. The Company has evaluated subsequent events from March 31, 2023 through May 15, 2023, 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)	9 Months Ended
	Mar. 31, 2023
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 interest 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 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 (“GAAP”). 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 2020 and 2021 the theatres reopened as soon as local restrictions and the status of the COVID-19 pandemic would allow. As of March 31, 2023, 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 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:
Marketable Securities	Marketable Securities: 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. ​ NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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 nine ​ ​ ​ ​ ​ ​ ​ ​ $in Thousands March 31, 2023 June 30, 2022 Customer deposits ​ $ 2,092 ​ $ 3,157 Unearned warranty revenue ​ 48 ​ 18 Total contract liabilities ​ $ 2,140 ​ $ 3,176 ​ 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. The Company 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 Nine ​ ​ Months Ended ​ Months Ended Disaggregation of Revenue (in 000’s): ​ March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Equipment upon delivery (point in time) ​ $ 3,669 ​ $ 5,701 ​ $ 14,100 ​ $ 4,984 Installation (point in time) ​ 60 ​ 134 ​ 293 ​ 239 Software subscription and services (over time) ​ 12 ​ — ​ 42 ​ — Total revenues ​ $ 3,741 ​ $ 5,835 ​ $ 14,435 ​ $ 12,728 ​ Revenue from the sale of equipment is recognized upon delivery 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:
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. Management 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 and nine
Business Combinations	Business Combinations:
Income Taxes	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 March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred Tax Assets (Liabilities) ​ ​ June 30, 2022 March 31, 2023 Inventory reserve ​ $ 122 ​ $ 144 Accumulated depreciation ​ (6) ​ (5) Accumulated goodwill amortization ​ (12) ​ (17) Accumulated intangible amortization ​ ​ 8 ​ ​ (18) Unrealized loss on investments ​ ​ 68 ​ ​ — Deferred rent ​ 6 ​ 5 Warranty reserve ​ 5 ​ 13 Stock compensation ​ ​ 68 ​ ​ 68 Net operating loss carryforward ​ ​ 594 ​ ​ 757 Allowance for doubtful accounts ​ 39 ​ 40 Net ​ ​ 892 ​ ​ 919 Valuation allowance ​ (892) ​ (919) Total ​ $ — ​ $ — ​
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 March 31, Year Ended June 30, ​ ​ 2023 ​ 2022 Product warranty liability, beginning of period ​ $ 50 ​ $ 29 Accruals for warranties issued ​ 46 ​ 60 Settlements made ​ (44) ​ (34) Product warranty liability, end of period ​ $ 52 ​ $ 55 ​
Research and Development	Research and Development:
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements:

BUSINESS ACTIVITY AND SUMMARY_3

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Mar. 31, 2023
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 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 ​
Schedule of revenue recognized included in contract liability	​ ​ ​ ​ ​ ​ ​ ​ $in Thousands March 31, 2023 June 30, 2022 Customer deposits ​ $ 2,092 ​ $ 3,157 Unearned warranty revenue ​ 48 ​ 18 Total contract liabilities ​ $ 2,140 ​ $ 3,176 ​
Summary of disaggregation of Revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three ​ For the Nine ​ ​ Months Ended ​ Months Ended Disaggregation of Revenue (in 000’s): ​ March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Equipment upon delivery (point in time) ​ $ 3,669 ​ $ 5,701 ​ $ 14,100 ​ $ 4,984 Installation (point in time) ​ 60 ​ 134 ​ 293 ​ 239 Software subscription and services (over time) ​ 12 ​ — ​ 42 ​ — Total revenues ​ $ 3,741 ​ $ 5,835 ​ $ 14,435 ​ $ 12,728 ​
Summary of deferred tax assets and liabilities	The following table summarizes the components of deferred tax assets and deferred tax liabilities at June 30, 2022 and March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred Tax Assets (Liabilities) ​ ​ June 30, 2022 March 31, 2023 Inventory reserve ​ $ 122 ​ $ 144 Accumulated depreciation ​ (6) ​ (5) Accumulated goodwill amortization ​ (12) ​ (17) Accumulated intangible amortization ​ ​ 8 ​ ​ (18) Unrealized loss on investments ​ ​ 68 ​ ​ — Deferred rent ​ 6 ​ 5 Warranty reserve ​ 5 ​ 13 Stock compensation ​ ​ 68 ​ ​ 68 Net operating loss carryforward ​ ​ 594 ​ ​ 757 Allowance for doubtful accounts ​ 39 ​ 40 Net ​ ​ 892 ​ ​ 919 Valuation allowance ​ (892) ​ (919) Total ​ $ — ​ $ — ​
Summary of warranty liabilities	The changes in the Company’s aggregate warranty liabilities were as follows for the following periods (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Quarter Ended March 31, Year Ended June 30, ​ ​ 2023 ​ 2022 Product warranty liability, beginning of period ​ $ 50 ​ $ 29 Accruals for warranties issued ​ 46 ​ 60 Settlements made ​ (44) ​ (34) Product warranty liability, end of period ​ $ 52 ​ $ 55 ​

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Mar. 31, 2023
INVESTMENTS
Summary of marketable securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted ​ Unrealized ​ Unrealized ​ Fair ​ Cash and ​ Marketable ​ Marketable ​ Cost Gains Losses Value Cash Equivalents Securities Securities Cash $ 4,886 $ — $ — $ 4,886 $ 4,886 $ — $ — ​
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 June 30, 2022 (amounts in 000’s): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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)	9 Months Ended
	Mar. 31, 2023
LOSS PER SHARE
Schedule of basic and diluted earnings (loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended For the Nine Months Ended For the Three Months Ended For the Nine Months Ended ​ ​ March 31, ​ March 31, March 31, ​ March 31, ​ ​ 2023 ​ 2023 2022 ​ 2022 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss in 000’s) ​ $ (424) ​ $ (472) ​ $ 593 ​ $ (626) Denominator: ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding, basic and diluted ​ ​ 10,956,413 ​ ​ 10,947,790 ​ 10,636,278 ​ 10,508,152 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (Loss) per share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ $ (0.04) ​ $ (0.04) ​ $ 0.06 ​ $ (0.06) ​
Schedule of antidilutive securities excluded	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Nine Months Ended ​ For the Three Months Ended ​ For the Nine Months Ended ​ ​ March 31, ​ March 31, ​ March 31, ​ March 31, ​ 2023 2023 2022 2022 Options ​ 150,000 ​ 150,000 ​ 150,000 ​ 150,000 Warrants — ​ — ​ 241,500 241,500 Total potentially dilutive shares 150,000 ​ 150,000 ​ 391,500 391,500 ​

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Mar. 31, 2023
PROPERTY AND EQUIPMENT
Schedule of property and equipment	Property and equipment consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, June 30, ​ ​ 2022 ​ 2022 Production equipment ​ $ 307 ​ $ 307 Leasehold improvements ​ 213 ​ 213 Furniture and fixtures ​ 45 ​ 45 Computer equipment ​ 53 ​ 47 Other equipment ​ 120 ​ 120 ​ ​ 738 ​ 732 Accumulated depreciation ​ (715) ​ (710) Net property and equipment ​ $ 23 ​ $ 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)	9 Months Ended
	Mar. 31, 2023
GOODWILL AND INTANGIBLE ASSETS
Summary of intangible assets	The following table summarizes the Company’s intangible assets as of March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization Gross Asset Accumulated Net Book ​ ​ Period ​ Cost ​ Amortization ​ Value Customer relationships 11 years ​ $ 970 ​ $ 323 ​ $ 647 Patents 20 years ​ 70 ​ 13 ​ 57 Trademark 20 years ​ 78 ​ 14 ​ 64 ​ ​ ​ ​ $ 1,118 ​ $ 350 ​ $ 768 ​ ​ NOTE 5 — GOODWILL AND INTANGIBLE ASSETS (continued) ​ 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 March 31, 2023 in each of the five years subsequent to March 31, 2023, and thereafter is as follows (amounts in thousands): ​ ​ ​ ​ ​ 2023 (remaining quarter of 2023) $ 24 2024 ​ 96 2025 ​ 96 2026 ​ 96 2027 ​ 96 Thereafter ​ 360 Total ​ $ 768

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	9 Months Ended
	Mar. 31, 2023
ACCRUED EXPENSES
Schedule of accrued expenses	Accrued expenses consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, June 30, ​ ​ 2023 ​ 2022 Employee compensation ​ $ 220 ​ $ 519 Accrued warranty ​ ​ 52 ​ ​ 55 Customer refund ​ ​ 135 ​ ​ — Others ​ 89 ​ 81 Total ​ $ 496 ​ $ 655

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Mar. 31, 2023
STOCKHOLDERS' EQUITY
Summery of stock repurchase program	$ in Thousands, except shares and dollar per share amounts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Number of Approximate ​ ​ ​ ​ ​ ​ ​ Shares ​ Dollar Value of ​ ​ ​ ​ ​ ​ ​ Purchased as ​ Shares that May ​ ​ Total Number of ​ ​ ​ ​ Part of Publicly ​ Yet Be Purchased ​ ​ Shares ​ Average Price ​ Announced Plans ​ Under the Plans Period ​ Purchased ​ Paid per Share ​ or Programs ​ or Programs March 23, 2023 – March 31, 2023 ​ 47,467 ​ $ 1.025 ​ 47,467 ​ $ 951 Total ​ 47,467 ​ $ 1.025 ​ 47,467 ​ $ 951
Summary of outstanding and exercisable stock option	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number ​ Wtd. Avg. Range of Exercise Price ​ Outstanding ​ Wtd. Avg, Life ​ Exercise Price $ 3.00 150,000 8.5 years ​ $ 3.00 ​
Stock option
STOCKHOLDERS' EQUITY
Summary of stock options and stock warrants changes	A summary of the status of the Company’s stock options as of March 31, 2023 and changes during the nine months ended March 31, 2023 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, March 31, 2023 150,000 ​ $ 3.00 ​ A summary of the status of the Company’s stock options as of March 31, 2022 and changes during the nine months ended March 31, 2022 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, March 31, 2022 150,000 ​ $ 3.00 ​
Stock warrants
STOCKHOLDERS' EQUITY
Summary of stock options and stock warrants changes	A summary of the status of the Company’s stock warrants as of March 31, 2023 and changes during the nine month period ended March 31, 2023 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, March 31, 2023 241,500 ​ $ 3.75

LEASE COMMITMENTS AND CONTING_2

LEASE COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Mar. 31, 2023
LEASE COMMITMENTS AND CONTINGENCIES
Summary of future minimum lease payments	Future minimum lease payments at March 31, 2023 under these arrangements are as follows: ​ ​ ​ ​ ​ ​ (in thousands) ​ ​ Total Operating leases ​ Payments 2023 ​ $ 76 2024 ​ 302 2025 ​ 154 Total undiscounted operating lease payments ​ $ 532 Less imputed interest (at 8% ) ​ ​ (36) Present value of operating lease payments ​ $ 496 ​
Schedule of ROU assets and operating lease liabilities	The following table sets forth the ROU assets and operating lease liabilities as of March 31, 2023: ​ ​ ​ ​ ​ Assets (in thousands) ROU assets-net ​ $ 479 ​ ​ ​ ​ Liabilities ​ Current operating lease liabilities ​ $ 272 Long-term operating lease liabilities ​ 224 Total ROU liabilities ​ $ 496 ​

BUSINESS ACTIVITY AND SUMMARY_4

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)				1 Months Ended		9 Months Ended	12 Months Ended
	Jul. 01, 2022	Jul. 12, 2021	Jul. 07, 2021	Jul. 31, 2021	Jun. 30, 2020	Mar. 31, 2022	Jun. 30, 2022	Mar. 31, 2023	Mar. 16, 2023	Jun. 30, 2021
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Impairments recognized						$ 0	$ 0
Deferred offering costs										$ 1,116,000
Common stock, outstanding							10,828,398	10,910,931	10,913,510
Warrants exercised for number of shares				139,611
Allowance for bad debts							$ 138,000	$ 143,000
Inventory reserve							$ 434,000	$ 514,000
Revenue recognized included in opening balance	$ 2,697,000
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
Warrants exercised for number of shares		139,611
MiT LLC | 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

BUSINESS ACTIVITY AND SUMMARY_5

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair vale on a recurring basis (Details) - Recurring $ in Thousands	Jun. 30, 2022 USD ($)
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Subtotal	$ 4,688
Less Long-term	(325)
Net Current	4,363
Equity Securities
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Subtotal	764
State and Municipal Debt Securities
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Subtotal	889
Fixed Income Funds
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Subtotal	2,687
Alternative Funds
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Subtotal	300
Real Estate Funds
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Subtotal	48
Level 1 | Equity Securities
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Subtotal	764
Level 1 | State and Municipal Debt Securities
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Subtotal	889
Level 1 | Fixed Income Funds
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Subtotal	2,687
Level 2 | Alternative Funds
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Subtotal	300
Level 2 | Real Estate Funds
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Subtotal	$ 48

BUSINESS ACTIVITY AND SUMMARY_6

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue recognized included in contract liability (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Customer deposits	$ 2,092	$ 3,158
Unearned warranty revenue	48	18
Total contract liabilities	$ 2,140	$ 3,176

BUSINESS ACTIVITY AND SUMMARY_7

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenues	$ 3,741	$ 5,835	$ 14,435	$ 12,728
Equipment upon delivery | Point in time
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenues	3,669	5,701	14,100	4,984
Installation | Point in time
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenues	60	$ 134	293	$ 239
Software subscription and services | Over time
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total revenues	$ 12		$ 42

BUSINESS ACTIVITY AND SUMMARY_8

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Advertising Costs, Goodwill and Intangible Assets (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Impairment on intangible assets	$ 0	$ 0	$ 0	$ 0
Minimum
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Amortization period			11 years
Maximum
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Amortization period			20 years

BUSINESS ACTIVITY AND SUMMARY_9

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deferred assets and liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Inventory reserve	$ 144	$ 122
Accumulated depreciation	(5)	(6)
Accumulated goodwill amortization	(17)	(12)
Accumulated intangible amortization	(18)	8
Unrealized loss on investments		68
Deferred rent	5	6
Warranty reserve	13	5
Stock compensation	68	68
Net operating loss carryforward	757	594
Allowance for doubtful accounts	40	39
Net	919	892
Valuation allowance	$ (919)	$ (892)

BUSINESS ACTIVITY AND SUMMAR_10

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Leases (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Right-of-use asset	$ 479,000
Lease liabilities	$ 496,000
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_11

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Warranty liabilities (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2023	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	$ 50,000	$ 55,000	$ 29,000
Accruals for warranties issued	46,000		60,000
Settlements made	(44,000)		(34,000)
Product warranty liability, end of period	$ 52,000	$ 52,000	$ 55,000
Minimum
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Warranty period		1 year
Maximum
BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Warranty period		3 years

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
	Mar. 31, 2023	Jun. 30, 2022
INVESTMENTS
Adjusted Cost		$ 7,270
Unrealized Losses		(242)
Fair Value		7,028
Cash and cash equivalents	$ 6,357	2,340
Current		4,363
Long term		325
Marketable securities proceeds transferred to cash accounts	4,886
Cash
INVESTMENTS
Adjusted Cost	4,886,000	2,340
Fair Value	4,886,000	2,340
Cash and cash equivalents	$ 4,886,000	2,340
Equities
INVESTMENTS
Adjusted Cost		899
Unrealized Losses		(135)
Fair Value		764
Current		764
Communication
INVESTMENTS
Adjusted Cost		50
Unrealized Losses		(11)
Fair Value		39
Current		39
Consumer Discretionary
INVESTMENTS
Adjusted Cost		69
Unrealized Losses		(15)
Fair Value		54
Current		54
Consumer Staples
INVESTMENTS
Adjusted Cost		19
Fair Value		19
Current		19
Energy
INVESTMENTS
Adjusted Cost		9
Unrealized Losses		(1)
Fair Value		8
Current		8
Financials
INVESTMENTS
Adjusted Cost		44
Unrealized Losses		(8)
Fair Value		36
Current		36
Health Care
INVESTMENTS
Adjusted Cost		40
Fair Value		40
Current		40
Industrials
INVESTMENTS
Adjusted Cost		27
Unrealized Losses		(7)
Fair Value		20
Current		20
Information Technology
INVESTMENTS
Adjusted Cost		133
Unrealized Losses		(25)
Fair Value		108
Current		108
Materials
INVESTMENTS
Adjusted Cost		10
Unrealized Losses		(2)
Fair Value		8
Current		8
Real Estate
INVESTMENTS
Adjusted Cost		10
Unrealized Losses		(2)
Fair Value		8
Current		8
Utilities
INVESTMENTS
Adjusted Cost		6
Fair Value		6
Current		6
Mutual Funds
INVESTMENTS
Adjusted Cost		482
Unrealized Losses		(64)
Fair Value		418
Current		418
Fixed Income
INVESTMENTS
Adjusted Cost		3,665
Unrealized Losses		(89)
Fair Value		3,576
Current		3,251
Long term		325
State & Municipal Bonds
INVESTMENTS
Adjusted Cost		906
Unrealized Losses		(17)
Fair Value		889
Current		564
Long term		325
Fixed income funds
INVESTMENTS
Adjusted Cost		2,759
Unrealized Losses		(72)
Fair Value		2,687
Current		2,687
Alternative, real estate and other
INVESTMENTS
Adjusted Cost		366
Unrealized Losses		(18)
Fair Value		348
Current		$ 348

LOSS PER SHARE (Details)

LOSS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net income (loss)	$ (424)	$ 593	$ (472)	$ (626)
Denominator:
Weighted average common shares outstanding, basic	10,956,413	10,636,278	10,947,790	10,508,152
Weighted average common shares outstanding, diluted	10,956,413	10,636,278	10,947,790	10,508,152
Income (Loss) per share
Income (Loss) per share, basic	$ (0.04)	$ 0.06	$ (0.04)	$ (0.06)
Income (Loss) per share, diluted	$ (0.04)	$ 0.06	$ (0.04)	$ (0.06)

LOSS PER SHARE - Antidilutive s

LOSS PER SHARE - Antidilutive shares (Details) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
LOSS PER SHARE
Total potentially dilutive shares	150,000	391,500	150,000	391,500
Options
LOSS PER SHARE
Total potentially dilutive shares	150,000	150,000	150,000	150,000
Warrants
LOSS PER SHARE
Total potentially dilutive shares		241,500		241,500

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
PROPERTY AND EQUIPMENT
Property and equipment, gross	$ 738	$ 732
Accumulated depreciation	(715)	(710)
Net property and equipment	23	22
Production equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	307	307
Leasehold improvements
PROPERTY AND EQUIPMENT
Property and equipment, gross	213	213
Furniture and fixtures
PROPERTY AND EQUIPMENT
Property and equipment, gross	45	45
Computer equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	53	47
Other equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	$ 120	$ 120

PROPERTY AND EQUIPMENT - Deprec

PROPERTY AND EQUIPMENT - Depreciation expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
PROPERTY AND EQUIPMENT
Depreciation			$ 6,000	$ 15,000
Property and equipment
PROPERTY AND EQUIPMENT
Depreciation	$ 2,000	$ 3,000	6,000	15,000
Cost of goods sold
PROPERTY AND EQUIPMENT
Depreciation	0	0	0	9,000
General and administrative expense
PROPERTY AND EQUIPMENT
Depreciation	$ 3,000	$ 3,000	$ 7,000	$ 6,000

PROPERTY AND EQUIPMENT - Useful

PROPERTY AND EQUIPMENT - Useful lives (Details)	9 Months Ended
	Mar. 31, 2023
Leasehold improvements
PROPERTY AND EQUIPMENT
Estimated useful life	5 years
Furniture and fixtures
PROPERTY AND EQUIPMENT
Estimated useful life	5 years
Production equipment | Minimum
PROPERTY AND EQUIPMENT
Estimated useful life	3 years
Production equipment | Maximum
PROPERTY AND EQUIPMENT
Estimated useful life	7 years
Computer equipment
PROPERTY AND EQUIPMENT
Estimated useful life	3 years
Other equipment | Minimum
PROPERTY AND EQUIPMENT
Estimated useful life	3 years
Other equipment | Maximum
PROPERTY AND EQUIPMENT
Estimated useful life	7 years

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
Intangible assets
Gross Asset Cost	$ 1,118	$ 1,118
Accumulated Amortization	350	279
Total	$ 768	$ 839
Customer relationships
GOODWILL AND INTANGIBLE ASSETS
Amortization Period	11 years	11 years
Intangible assets
Gross Asset Cost	$ 970	$ 970
Accumulated Amortization	323	257
Total	$ 647	$ 713
Patents
GOODWILL AND INTANGIBLE ASSETS
Amortization Period	20 years	20 years
Intangible assets
Gross Asset Cost	$ 70	$ 70
Accumulated Amortization	13	10
Total	$ 57	$ 60
Trademark
GOODWILL AND INTANGIBLE ASSETS
Amortization Period	20 years	20 years
Intangible assets
Gross Asset Cost	$ 78	$ 78
Accumulated Amortization	14	12
Total	$ 64	$ 66

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Amortization expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
GOODWILL AND INTANGIBLE ASSETS
Amortization expense			$ 72,000	$ 72,000
General and administrative expense
GOODWILL AND INTANGIBLE ASSETS
Amortization expense	$ 24,000	$ 24,000	$ 72,000	$ 72,000

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Estimated amortization expense related to intangible assets subject to amortization (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
GOODWILL AND INTANGIBLE ASSETS
2023 (remaining quarter of 2023)	$ 24
2024	96
2025	96
2026	96
2027	96
Thereafter	360
Total	$ 768	$ 839

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
ACCRUED EXPENSES
Employee compensation	$ 220	$ 519
Accrued warranty	52	55
Customer refund	135
Others	89	81
Total	$ 496	$ 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 - Paycheck Protection Prog

DEBT - Paycheck Protection Program (Details) - USD ($)			1 Months Ended
	Mar. 13, 2021	May 06, 2020	Apr. 30, 2022	May 31, 2021	Mar. 31, 2023	Jun. 30, 2022
DEBT
Outstanding debt					$ 0	$ 0
PPP loan
DEBT
Proceeds from loan	$ 698,000	$ 694,000
Debt forgiven			$ 698,000	$ 694,000

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($)				1 Months Ended	3 Months Ended			9 Months Ended
	Mar. 31, 2023	Jul. 12, 2022	Jul. 07, 2021	Jul. 31, 2021	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2021	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Mar. 16, 2023	Jun. 30, 2022
STOCKHOLDERS' EQUITY
Maximum stock based awards available for issuance	1,500,000				1,500,000			1,500,000
Share based payment award option outstanding	1,220,000				1,220,000			1,220,000
Options granted				150,000
Exercise price, granted				$ 3
Grant-date fair value									$ 1.63
Compensation expense for stock option					$ 0		$ 62,000	$ 0		$ 118,000
Total unrecognized compensation	$ 0				0			0
Amount authorized under stock repurchase program	$ 951,000				$ 951,000			$ 951,000
Number of shares repurchased	47,467							47,467
Shares repurchased as percentage of outstanding shares								0.44%
Shares of common stock outstanding	10,910,931				10,910,931			10,910,931			10,913,510	10,828,398
Average price	$ 1.025							$ 1.025
Value of shares issued						$ 153,000
Warrants exercised for number of shares				139,611
Employees
STOCKHOLDERS' EQUITY
Number of shares issued		130,000
Value of shares issued		$ 153,000
Warrants
STOCKHOLDERS' EQUITY
Warrants outstanding	$ 0				$ 0			$ 0
MiT LLC | MiT Inc
STOCKHOLDERS' EQUITY
Shares of common stock issued for acquiring members unit				2,350,000
Percentage of outstanding member unit exchanged			79%	41.40%
Shares of common stock outstanding			4,452,334

STOCKHOLDERS' EQUITY - Share re

STOCKHOLDERS' EQUITY - Share repurchase program (Details) $ / shares in Units, $ in Thousands		9 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares
Share repurchase program
Number of shares repurchased	47,467	47,467
Average Price Paid per Share | $ / shares	$ 1.025	$ 1.025
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	47,467	47,467
Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs | $	$ 951	$ 951
March 23, 2023 - March 31, 2023
Share repurchase program
Number of shares repurchased	47,467
Average Price Paid per Share | $ / shares	$ 1.025
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	47,467	47,467
Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs | $	$ 951	$ 951

STOCKHOLDERS' EQUITY - Stock op

STOCKHOLDERS' EQUITY - Stock options and stock warrants (Details) - $ / shares	1 Months Ended	9 Months Ended
	Jul. 31, 2021	Mar. 31, 2023	Mar. 31, 2022
STOCKHOLDERS' EQUITY
Granted during the period	150,000
Weighted Average Exercise Price, Granted during the period	$ 3
Stock option
STOCKHOLDERS' EQUITY
Beginning balance		150,000
Granted during the period		0	150,000
Ending balance		150,000	150,000
Weighted Average Exercise Price, Beginning balance		$ 3
Weighted Average Exercise Price, Granted during the period			$ 3
Weighted Average Exercise Price, Ending balance		$ 3	$ 3
Stock warrants
STOCKHOLDERS' EQUITY
Beginning balance		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, Beginning balance		$ 2.76
Weighted Average Exercise Price, Granted during the period		3.75
Weighted Average Exercise Price, Exercised during the period		2.76
Weighted Average Exercise Price, Terminated/Expired during the year		2.76
Weighted Average Exercise Price, Ending balance		$ 3.75

STOCKHOLDERS' EQUITY - Outstand

STOCKHOLDERS' EQUITY - Outstanding and exercisable stock (Details)	9 Months Ended
	Mar. 31, 2023 $ / shares shares
STOCKHOLDERS' EQUITY
Number Outstanding | shares	150,000
Wtd. Avg, Life	8 years 6 months
Exercise Price	$ 3
Exercise Price $3.00
STOCKHOLDERS' EQUITY
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		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
CUSTOMER AND VENDOR CONCENTRATIONS
Outstanding receivables	$ 979,000		$ 979,000		$ 1,762,000
Sales | Customer concentration | Customer one
CUSTOMER AND VENDOR CONCENTRATIONS
Concentration risk percentage	12%	11%	12%	32%
Sales | Customer concentration | Customer two
CUSTOMER AND VENDOR CONCENTRATIONS
Concentration risk percentage		10%
Outstanding receivable | Customer concentration
CUSTOMER AND VENDOR CONCENTRATIONS
Outstanding receivables	$ 225,000	$ 120,000	$ 225,000	$ 120,000

CUSTOMER AND VENDOR CONCENTRA_3

CUSTOMER AND VENDOR CONCENTRATIONS - Vendor concentrations (Details) - Purchases - Supplier concentration	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Vendor one
CUSTOMER AND VENDOR CONCENTRATIONS
Concentration risk percentage	12%	14%	22%	10%
Vendor two
CUSTOMER AND VENDOR CONCENTRATIONS
Concentration risk percentage	11%	13%	13%

LEASE COMMITMENTS AND CONTING_3

LEASE COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
LEASE COMMITMENTS AND CONTINGENCIES
Operating lease expense	$ 73,000	$ 70,000	$ 214,000	$ 141,000
Imputed interest rate percentage	8%		8%
Weighted average remaining lease term for operating leases (in years)	1 year 9 months		1 year 9 months

LEASE COMMITMENTS AND CONTING_4

LEASE COMMITMENTS AND CONTINGENCIES - Future minimum lease payments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Operating leases
2023	$ 76
2024	302
2025	154
Total undiscounted operating lease payments	532
Less imputed interest (at 8%)	(36)
Present value of operating lease payments	$ 496

LEASE COMMITMENTS AND CONTING_5

LEASE COMMITMENTS AND CONTINGENCIES - ROU assets and operating lease liabilities (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Assets
ROU assets-net	$ 479
Liabilities
Current operating lease liabilities	272
Long-term operating lease liabilities	224
Total ROU liabilities	$ 496

SUBSEQUENT EVENTS-Agreement (De

SUBSEQUENT EVENTS-Agreement (Details)	Apr. 30, 2024	May 31, 2023 USD ($)	Apr. 25, 2023 USD ($) item	Mar. 31, 2023 shares	Mar. 16, 2023 shares	Jun. 30, 2022 shares
SUBSEQUENT EVENTS
Shares of common stock outstanding | shares				10,910,931	10,913,510	10,828,398
The Five Agency
SUBSEQUENT EVENTS
Additional amount agreed to be advanced upon request			$ 150,000
Subsequent event
SUBSEQUENT EVENTS
Requirement to purchase equipment systems		$ 3,000,000
Entity formed from percentage of shares granted by counterparty		95%
Entity formed from percentage of shares granted by company		5%
Disbursement of loan pursuant to an agreed upon budget		$ 150,000
Term after expiration of agreement to apply for patent	3 years
Subsequent event | The Five Agency
SUBSEQUENT EVENTS
Percentage of equity which will be issued to entity			5%
Interest rate			10%
Additional amount agreed to be advanced upon request			$ 150,000
Subsequent event | Letter Agreement [Member]
SUBSEQUENT EVENTS
Amount agreed to lend			$ 300,000
Number of equal installments | item			2
Initial loan amount			$ 150,000