Dynatronics (DYNT) 10-Q 14 Nov 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2024	Nov. 12, 2024
Cover [Abstract]
Entity Registrant Name	Dynatronics Corporation
Entity Central Index Key	0000720875
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		7,255,563
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	0-12697
Entity Incorporation State Country Code	UT
Entity Tax Identification Number	87-0398434
Entity Interactive Data Current	Yes
Entity Address Address Line 1	1200 Trapp Road
Entity Address City Or Town	Eagan
Entity Address State Or Province	MN
Entity Address Postal Zip Code	55121
City Area Code	801
Local Phone Number	5687000
Security 12b Title	Common Stock, no par value

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Current assets:
Cash and cash equivalents	$ 278,443	$ 483,918
Restricted cash	50,410	50,410
Trade accounts receivable, less allowance for credit losses of $35,072 and $48,997 as of September 30, 2024 and June 30, 2024, respectively	3,055,736	3,444,587
Other receivables	513,180	454,390
Inventories, net	5,471,475	5,593,974
Prepaid expenses	461,902	530,356
Total current assets	9,831,146	10,557,635
Property and equipment, net	1,811,941	1,969,413
Operating lease assets	3,024,339	2,831,417
Intangible assets, net	2,845,400	2,999,975
Goodwill	7,116,613	7,116,614
Other assets	435,203	465,505
Total assets	25,064,642	25,940,559
Current liabilities:
Accounts payable	2,738,921	2,712,142
Accrued payroll and benefits expense	398,771	566,443
Accrued expense	516,745	725,727
Warranty reserve	117,173	120,677
Line of credit	1,889,715	2,121,667
Current portion of finance lease liability	302,962	302,998
Current portion of deferred gain	150,448	150,448
Current portion of operating lease liability	1,181,581	1,004,808
Total current liabilities	7,296,316	7,704,910
Finance lease liability, net of current portion	1,354,738	1,428,870
Deferred gain, net of current portion	589,254	626,866
Operating lease liability, net of current portion	1,843,528	1,829,608
Other liabilities	185,810	189,861
Total liabilities	11,269,646	11,780,115
Commitments and contingencies
Stockholders' equity:
Preferred stock, no par value: Authorized 50,000,000 shares; 3,351,000 shares issued and outstanding as of September 30, 2024 and June 30, 2024, respectively	7,980,788	7,980,788
Common stock, no par value: Authorized 100,000,000 shares; 5,896,264 shares and 5,308,519 shares issued and outstanding as of September 30, 2024 and June 30, 2024, respectively	35,256,763	35,087,825
Accumulated deficit	(29,442,555)	(28,908,169)
Total stockholders' equity	13,794,996	14,160,444
Total liabilities and stockholders' equity	$ 25,064,642	$ 25,940,559

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Condensed Consolidated Balance Sheets
Allowance for Credit Losses	$ 35,072	$ 48,997
Preferred Stock, Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	3,351,000	3,351,000
Preferred Stock, Shares Outstanding	3,351,000	3,351,000
Common Stock, Par Value	$ 0	$ 0
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Issued	5,896,264	5,308,519
Common Stock, Shares Outstanding	5,896,264	5,308,519

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Condensed Consolidated Statements of Operations (Unaudited)
Net sales	$ 7,602,249	$ 9,351,914
Cost of sales	5,621,442	7,045,847
Gross profit	1,980,807	2,306,067
Selling, general, and administrative expenses	2,231,803	2,545,556
Operating loss	(250,996)	(239,489)
Other expense:
Interest expense, net	(106,348)	(79,683)
Net other expense	(106,348)	(79,683)
Loss before income taxes	(357,344)	(319,172)
Income tax provision	(9,304)	(11,482)
Net loss	(366,648)	(330,654)
Preferred stock dividend, in common stock, issued or to be issued	(167,738)	(197,059)
Net loss attributable to common stockholders	$ (534,386)	$ (527,713)
Net loss per common share:
Net loss per common share Basic	$ (0.09)	$ (0.12)
Net loss per common share Diluted	$ (0.09)	$ (0.12)
Weighted average shares outstanding:
Weighted average shares outstanding Basic	5,890,394	4,261,593
Weighted average shares outstanding Diluted	5,890,394	4,261,593

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common stock [Member]	Preferred stock [Member]	Accumulated deficit [Member]	Total
Balance, shares at Jun. 30, 2023	4,044,984	3,351,000
Balance, amount at Jun. 30, 2023	$ 34,355,315	$ 7,980,788	$ (25,479,577)	$ 16,856,526
Stock-based compensation, shares	13,399
Stock-based compensation, amount	$ 19,173	0	0	19,173
Preferred stock dividend, in common stock, issued or to be issued, shares	201,656
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 197,059	0	(197,059)	0
Net loss	$ 0	$ 0	(330,654)	(330,654)
Balance, shares at Sep. 30, 2023	4,260,039	3,351,000
Balance, amount at Sep. 30, 2023	$ 34,571,547	$ 7,980,788	(26,007,290)	16,545,045
Stock-based compensation, shares	8,080
Stock-based compensation, amount	$ (3,848)	0	0	(3,848)
Preferred stock dividend, in common stock, issued or to be issued, shares	262,718
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 191,244	0	(191,244)	0
Net loss	$ 0	$ 0	(1,011,416)	(1,011,416)
Balance, shares at Dec. 31, 2023	4,530,837	3,351,000
Balance, amount at Dec. 31, 2023	$ 34,758,943	$ 7,980,788	(27,209,950)	15,529,781
Stock-based compensation, shares	10,154
Stock-based compensation, amount	$ (16,492)	0	0	(16,492)
Preferred stock dividend, in common stock, issued or to be issued, shares	341,384
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 183,668	0	(183,668)	0
Net loss	$ 0	$ 0	(667,722)	(667,722)
Balance, shares at Mar. 31, 2024	4,882,375	3,351,000
Balance, amount at Mar. 31, 2024	$ 34,926,119	$ 7,980,788	(28,061,340)	14,845,567
Stock-based compensation, shares	0
Stock-based compensation, amount	$ 2,804	0	0	2,804
Preferred stock dividend, in common stock, issued or to be issued, shares	426,144
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 158,902	0	(158,902)	0
Net loss	$ 0	$ 0	(687,927)	(687,927)
Balance, shares at Jun. 30, 2024	5,308,519	3,351,000
Balance, amount at Jun. 30, 2024	$ 35,087,825	$ 7,980,788	(28,908,169)	14,160,444
Stock-based compensation, shares	12,000
Stock-based compensation, amount	$ 1,200	0	0	1,200
Preferred stock dividend, in common stock, issued or to be issued, shares	575,745
Preferred stock dividend, in common stock, issued or to be issued, amount	$ 167,738	0	(167,738)	0
Net loss	$ 0	$ 0	(366,648)	(366,648)
Balance, shares at Sep. 30, 2024	5,896,264	3,351,000
Balance, amount at Sep. 30, 2024	$ 35,256,763	$ 7,980,788	$ (29,442,555)	$ 13,794,996

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net Income (Loss)	$ (366,648)	$ (330,654)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization of property and equipment	155,245	165,777
Amortization of intangible assets	154,575	154,575
Loss on sale of property	0	1,619
Stock-based compensation	1,200	19,173
Change in allowance for credit losses	(13,925)	4,616
Change in allowance for inventory obsolescence	(18,900)	31,492
Amortization of deferred gain on sale/leaseback	(37,612)	(37,612)
Change in operating assets and liabilities:
Trade accounts receivable	402,776	(542,754)
Inventories	141,399	533,217
Prepaid expenses and other receivables	9,664	(798,308)
Other assets	30,302	5,631
Accounts payable, accrued expenses, and other current liabilities	(357,430)	(872,044)
Net cash provided by (used in) operating activities	100,646	(1,665,272)
Cash flows from investing activities:
Purchase of property and equipment	0	(34,607)
Net cash used in investing activities	0	(34,607)
Cash flows from financing activities:
Principal payments on finance lease liability	(74,169)	(70,135)
Net change in line of credit	(231,952)	1,803,906
Net cash (used in) provided by financing activities	(306,121)	1,733,771
Net change in cash and cash equivalents and restricted cash	(205,475)	33,892
Cash and cash equivalents and restricted cash at beginning of the period	534,328	552,870
Cash and cash equivalents and restricted cash at end of the period	328,853	586,762
Supplemental disclosure of cash flow information:
Cash paid for interest	66,029	145,109
Supplemental disclosure of non-cash investing and financing activities
Preferred stock dividend, in common stock, issued or to be issued	167,738	197,059
Operating lease right-of-use assets obtained in exchange for lease obligations	$ 464,866	$ 35,181

Presentation and Summary of Sig

Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2024
Presentation and Summary of Significant Accounting Policies
Presentation and Summary of Significant Accounting Policies [Text Block]	Note 1. Presentation and Summary of Significant Accounting Policies Business Dynatronics Corporation (the "Company," or "Dynatronics") is a leading medical device company committed to providing high-quality products designed to accelerate optimal health. The Company designs, manufactures, and sells a broad range of products for clinical use in physical therapy, rehabilitation, orthopedics, pain management, and athletic training. Through its distribution channels, Dynatronics markets and sells to orthopedists, physical therapists, chiropractors, athletic trainers, sports medicine practitioners, clinics, and hospitals. Proposed 2023 Reverse Stock Split On October 9, 2023, the board of directors unanimously approved and recommended that the Company's shareholders (including holders of our Series A 8% Convertible Preferred Stock and Series B Convertible Preferred Stock) approve at our annual meeting of shareholders the adoption of an amendment (the "Amendment") to the Amended and Restated Articles of Incorporation to effect a reverse stock split of the Company's common stock (the "Proposed Reverse Stock Split") at any whole number between, and inclusive of, one-for-five to one-for-ten. On December 7, 2023, during the "2023 Annual Meeting" the shareholders approved a resolution granting the board of directors the authority, but not the obligation, to file the Amendment to effect the Proposed Reverse Stock Split at any time within one year from the date of shareholder approval, with the exact ratio and timing of the Proposed Reverse Stock Split to be determined at the discretion of the board of directors. For additional information about the 2023 Annual Meeting and the Proposed Reverse Stock Split, please see the Company's Definitive Proxy Statement filed with the SEC on October 24, 2023. Basis of Presentation The accompanying unaudited condensed consolidated financial statements (the "Condensed Consolidated Financial Statements") have been prepared by the Company in accordance with generally accepted accounting principles in the United States ("GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. As such, these Condensed Consolidated Financial Statements should be read in conjunction with the Company's audited financial statements and accompanying notes included in its Annual Report on Form 10K for the fiscal year ended June 30, 2024 (the "Annual Report") filed with the SEC on September 24, 2024. The Condensed Consolidated Balance Sheet at June 30, 2024, has been derived from the Annual Report. The accounting policies followed by the Company are set forth in Part II, Item 8, Note 1, Basis of Presentation and Summary of Accounting Policies, of the Notes to Consolidated Financial Statements included in the Company's Annual Report. In the opinion of management, the Condensed Consolidated Financial Statements contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Company's financial position as of September 30, 2024 and its results of operations and its cash flows for the periods presented. The results of operations for the first three months of the fiscal year are not necessarily indicative of results for the full year or any future periods. The Company's fiscal year begins on July 1 and ends on June 30 and references made to "fiscal year 2025" and "fiscal year 2024" refer to the Company's fiscal year ending June 30, 2025 and the fiscal year ended June 30, 2024, respectively. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods presented. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates and assumptions. Other Receivables Other receivables consist of amounts due from the Company's contract manufacturer for raw materials components provided for use in the production of the Company's products. Payments are due from the Company's contract manufacturer based on the usage of raw material components. Recent Accounting Pronouncements In August 2020, the FASB issued ASU 202006, Debt- Debt with Conversion and Other Options (Subtopic 47020) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 81540): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures

Net Loss per Common Share

Net Loss per Common Share	3 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Loss per Common Share [Text Block]	Note 2. Net Loss per Common Share Net loss per common share is computed based on the weighted average number of common shares outstanding and, when appropriate, dilutive potential common stock outstanding during the period. Stock options, convertible preferred stock and warrants are considered to be potential common stock. The computation of diluted net loss per common share does not assume exercise or conversion of securities that would have an anti-dilutive effect. Basic net loss per common share is the amount of net loss for the period available to each weighted average share of common stock outstanding during the reporting period. Diluted net loss per common share is the amount of net loss for the period available to each weighted average share of common stock outstanding during the reporting period and to each share of potential common stock outstanding during the period, unless inclusion of potential common stock would have an anti-dilutive effect. All outstanding options, warrants and convertible preferred stock for common shares are not included in the computation of diluted net loss per common share because they are anti-dilutive, which for the three months ended September 30, 2024 and 2023, totaled 688,200 and 978,201 respectively,

Convertible Preferred Stock

Convertible Preferred Stock	3 Months Ended
	Sep. 30, 2024
Convertible Preferred Stock
Convertible Preferred Stock [Text Block]	Note 3. Convertible Preferred Stock As of September 30, 2024, the Company had issued and outstanding a total of 1,992,000 shares of Series A 8% Convertible Preferred Stock ("Series A Preferred") and 1,359,000 shares of Series B Convertible Preferred Stock ("Series B Preferred"). The Series A Preferred and Series B Preferred are convertible into a total of 670,200 shares of common stock. Dividends payable on these preferred shares accrue at the rate of 8% per year and are payable quarterly in stock or cash at the option of the Company. The Company generally pays the dividends on the preferred stock by issuing shares of its common stock. The formula for paying these dividends using common stock in lieu of cash can change the effective yield on the dividend to more or less than 8% depending on the market price of the common stock at the time of issuance. In October 2024, the Company paid $167,7 38

Inventories

Inventories	3 Months Ended
	Sep. 30, 2024
Inventories
Inventories [Text Block]	Note 4. Inventories Inventories consisted of the following: September 30, 2024 June 30, 2024 Raw materials $ 3,685,853 $ 3,596,287 Work in process 513,108 315,075 Finished goods 1,843,297 2,272,295 Inventory reserve (570,783 ) (589,683 ) $ 5,471,475 $ 5,593,974

Debt

Debt	3 Months Ended
	Sep. 30, 2024
LongTerm Debt
Debt [Text Block]	Note 5. Debt As of September 30, 2024 and June 30, 2024, the line of credit was $1,889,715 and $2,121,667, respectively. On August 1, 2023, the Company entered into a Loan and Security Agreement (the "Loan Agreement") with Gibraltar Business Capital, LLC ("Lender"), to provide asset-based financing to the Company to be used for operating capital. Amounts available under the Loan Agreement (the "Revolving Loans") are subject to a borrowing base calculation of up to a maximum availability of $7,500,000 (the "Revolving Loan Commitment") and bear interest at SOFR plus 5.00%. The Company paid a closing fee of 1.00% of the Revolving Loan Commitment and the line is subject to a monthly unused line fee in an annualized amount equal to 0.50% on the difference between the Revolving Loan Commitment and the average outstanding principal balance of the Revolving Loans for such month. The maturity date is three years from the date of the promissory note evidencing the Revolving Loans, subject to extension in accordance with the terms of the Loan Agreement. The Loan Agreement provides for revolving credit borrowings by the Company in an amount up to the lesser of the Revolving Loan Commitment and a borrowing base amount equal to the sum of stated percentages of eligible accounts receivable and inventory, less reserves, computed on a weekly basis. The obligations of the Company under the Loan Agreement are secured by a first-priority security interest in substantially all of the assets of the Company (including, without limitation, accounts receivable, equipment, inventory and other goods, intellectual property, contract rights and other general intangibles, cash, deposit accounts, equity interests in subsidiaries and joint ventures, investment property, documents and instruments, and proceeds of the foregoing). The Loan Agreement contains affirmative and negative covenants, including covenants that restrict the ability of the Company and its subsidiaries to, among other things, incur or guarantee indebtedness, incur liens, dispose of assets, engage in mergers and consolidations, make acquisitions or other investments, make changes in the nature of its business, and engage in transactions with affiliates. The Loan Agreement also contains financial covenants applicable to the Company and its subsidiaries, including a minimum fixed charge coverage ratio of 1.0 to 1.0 if excess availability is less than $1,000,000 of the borrowing base.

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Sep. 30, 2024
RelatedParty Transactions
Related-Party Transactions [Text Block]	Note 6. Related-Party Transactions The Company leases office, manufacturing and warehouse facilities in Northvale, New Jersey, and Eagan, Minnesota from shareholders and entities controlled by shareholders who were previously principals of businesses acquired by the Company. The combined expenses associated with these related-party transactions totaled $337,225 and $333,949 for the three months ended September 30, 2024 and 2023, respectively.

Revenue

Revenue	3 Months Ended
	Sep. 30, 2024
Revenue
Revenue [Text Block]	Note 7. Revenue As of September 30, 2024 and June 30, 2024, the net rebate liability was $264,508 and $263,959, respectively. The rebate liability is included in accrued expenses within the accompanying condensed consolidated balance sheets. As of September 30, 2024 and June 30, 2024, the allowance for sales discounts was $13,420 and $13,814, respectively. The allowance for sales discounts is included in trade accounts receivable, less allowance for credit losses in the accompanying condensed consolidated balance sheets. The following table disaggregates revenue by major product category for the three months ended September 30, 2024 and 2023, respectively: Three Months Ended September 30, 2024 2023 Physical Therapy and Rehabilitation Products $ 4,218,354 $ 4,829,737 Orthopedic Soft Bracing Products 3,356,988 4,499,683 Other 26,907 22,494 $ 7,602,249 $ 9,351,914

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (366,648)	$ (330,654)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the fiscal quarter ended September 30, 2024, none of our directors or officers informed us of the adoption , modification or termination of a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as those terms are defined in Regulation S-K, Item 408.
Title	directors or officers
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Presentation and Summary of S_2

Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2024
Presentation and Summary of Significant Accounting Policies
Business [Policy Text Block]	Business Dynatronics Corporation (the "Company," or "Dynatronics") is a leading medical device company committed to providing high-quality products designed to accelerate optimal health. The Company designs, manufactures, and sells a broad range of products for clinical use in physical therapy, rehabilitation, orthopedics, pain management, and athletic training. Through its distribution channels, Dynatronics markets and sells to orthopedists, physical therapists, chiropractors, athletic trainers, sports medicine practitioners, clinics, and hospitals.
Proposed 2023 Reverse Stock Split [Policy Text Block]	Proposed 2023 Reverse Stock Split On October 9, 2023, the board of directors unanimously approved and recommended that the Company's shareholders (including holders of our Series A 8% Convertible Preferred Stock and Series B Convertible Preferred Stock) approve at our annual meeting of shareholders the adoption of an amendment (the "Amendment") to the Amended and Restated Articles of Incorporation to effect a reverse stock split of the Company's common stock (the "Proposed Reverse Stock Split") at any whole number between, and inclusive of, one-for-five to one-for-ten. On December 7, 2023, during the "2023 Annual Meeting" the shareholders approved a resolution granting the board of directors the authority, but not the obligation, to file the Amendment to effect the Proposed Reverse Stock Split at any time within one year from the date of shareholder approval, with the exact ratio and timing of the Proposed Reverse Stock Split to be determined at the discretion of the board of directors. For additional information about the 2023 Annual Meeting and the Proposed Reverse Stock Split, please see the Company's Definitive Proxy Statement filed with the SEC on October 24, 2023.
Basis of Presentation [Policy Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated financial statements (the "Condensed Consolidated Financial Statements") have been prepared by the Company in accordance with generally accepted accounting principles in the United States ("GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. As such, these Condensed Consolidated Financial Statements should be read in conjunction with the Company's audited financial statements and accompanying notes included in its Annual Report on Form 10K for the fiscal year ended June 30, 2024 (the "Annual Report") filed with the SEC on September 24, 2024. The Condensed Consolidated Balance Sheet at June 30, 2024, has been derived from the Annual Report. The accounting policies followed by the Company are set forth in Part II, Item 8, Note 1, Basis of Presentation and Summary of Accounting Policies, of the Notes to Consolidated Financial Statements included in the Company's Annual Report. In the opinion of management, the Condensed Consolidated Financial Statements contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Company's financial position as of September 30, 2024 and its results of operations and its cash flows for the periods presented. The results of operations for the first three months of the fiscal year are not necessarily indicative of results for the full year or any future periods. The Company's fiscal year begins on July 1 and ends on June 30 and references made to "fiscal year 2025" and "fiscal year 2024" refer to the Company's fiscal year ending June 30, 2025 and the fiscal year ended June 30, 2024, respectively.
Use of Estimates [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods presented. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates and assumptions.
Other Receivables [Policy Text Block]	Other Receivables Other receivables consist of amounts due from the Company's contract manufacturer for raw materials components provided for use in the production of the Company's products. Payments are due from the Company's contract manufacturer based on the usage of raw material components.
Recent Accounting Pronouncements [Policy Text Block]	Recent Accounting Pronouncements In August 2020, the FASB issued ASU 202006, Debt- Debt with Conversion and Other Options (Subtopic 47020) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 81540): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Sep. 30, 2024
Inventories
Schedule of inventories [Table Text Block]	September 30, 2024 June 30, 2024 Raw materials $ 3,685,853 $ 3,596,287 Work in process 513,108 315,075 Finished goods 1,843,297 2,272,295 Inventory reserve (570,783 ) (589,683 ) $ 5,471,475 $ 5,593,974

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Sep. 30, 2024
Revenue
Schedule of disaggregation of revenue by major product category [Table Text Block]	Three Months Ended September 30, 2024 2023 Physical Therapy and Rehabilitation Products $ 4,218,354 $ 4,829,737 Orthopedic Soft Bracing Products 3,356,988 4,499,683 Other 26,907 22,494 $ 7,602,249 $ 9,351,914

Net Loss per Common Share (Narr

Net Loss per Common Share (Narrative) (Details) - shares	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	688,200	978,201

Convertible Preferred Stock (Na

Convertible Preferred Stock (Narrative) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Preferred stock outstanding	3,351,000	3,351,000
Common stock upon conversion of preferred stock	670,200
Dividend rate	8%
Preferred stock dividends	$ 1,677
Common stock shares issued	1,359,299
Series A Preferred [Member]
Preferred stock outstanding	1,992,000
Dividend rate	8%
Series B Preferred [Member]
Preferred stock outstanding	1,359,000

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Inventories
Raw materials	$ 3,685,853	$ 3,596,287
Work in process	513,108	315,075
Finished goods	1,843,297	2,272,295
Inventory reserve	(570,783)	(589,683)
Inventories, net	$ 5,471,475	$ 5,593,974

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Aug. 01, 2023	Sep. 30, 2024	Jun. 30, 2024
Debt Instrument [Line Items]
Line of credit		$ 1,889,715	$ 2,121,667
Gibraltar Business Capital, LLC [Member] | Loan and Security Agreement [Member]
Debt Instrument [Line Items]
Revolving loan commitment, maximum availability	$ 7,500,000
Interest rate description	bear interest at SOFR plus 5.00%
Closing fee of revolving loan commitment	1%
Annualized monthly unused line fee	0.50%
Description of minimum fixed charge coverage ratio	1.0 to 1.0 if excess availability is less than $1,000,000 of the borrowing base

Related-Party Transactions (Nar

Related-Party Transactions (Narrative) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
RelatedParty Transactions
Related-party transactions	$ 337,225	$ 333,949

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Revenue
Rebate receivable (liability)	$ 264,508	$ 263,959
Allowance for sales discounts	$ 13,420	$ 13,814

Revenue - Schedule of Revenue (

Revenue - Schedule of Revenue (Details) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Net Sales	$ 7,602,249	$ 9,351,914
Physical Therapy and Rehabilitation Products [Member]
Net Sales	4,218,354	4,829,737
Orthopedic Soft Bracing Products [Member]
Net Sales	3,356,988	4,499,683
Other [Member]
Net Sales	$ 26,907	$ 22,494