Pro-Dex (PDEX) 10-K 13 Oct 23 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2023	Sep. 29, 2023	Dec. 31, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--06-30
Entity File Number	000-14942
Entity Registrant Name	PRO-DEX, INC.
Entity Central Index Key	0000788920
Entity Tax Identification Number	84-1261240
Entity Incorporation, State or Country Code	CO
Entity Address, Address Line One	2361 McGaw Avenue
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92614
City Area Code	949
Local Phone Number	769-3200
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	PDEX
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 32.5
Entity Common Stock, Shares Outstanding		3,547,330
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	659
Auditor Name	Moss Adams LLP
Auditor Location	Irvine, California

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 2,936	$ 849
Investments	1,134	755
Accounts receivable, net of allowance for doubtful accounts of $0 at June 30, 2023 and 2022	9,952	15,384
Deferred costs	494	710
Inventory	16,167	12,678
Prepaid expenses	296	790
Total current assets	30,979	31,166
Land and building, net	6,249	6,343
Equipment and improvements, net	5,079	4,833
Right of use asset, net	1,872	2,248
Intangibles, net	81	118
Deferred income taxes, net		256
Investments	7,521	4,083
Other assets	42	42
Total assets	51,823	49,089
Current liabilities:
Accounts payable	2,261	3,761
Accrued liabilities	3,135	2,751
Income taxes payable	453	544
Deferred revenue		1,013
Notes payable	3,827	3,285
Total current liabilities	9,676	11,354
Non-current liabilities:
Lease liability, net of current portion	1,638	2,054
Deferred income taxes, net	8
Notes payable, net of current portion	8,911	10,250
Total non-current liabilities	10,557	12,304
Total liabilities	20,233	23,658
Commitments and Contingencies:
Shareholders’ equity:
Common stock, no par value, 50,000,000 shares authorized; 3,545,309 and 3,596,131 shares issued and outstanding at June 30, 2023 and 2022, respectively	6,767	7,682
Retained earnings	24,823	17,749
Total shareholders’ equity	31,590	25,431
Total liabilities and shareholders’ equity	$ 51,823	$ 49,089

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Statement of Financial Position [Abstract]
Net of allowance for doubtful accounts	$ 0	$ 0
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	3,545,309	3,596,131
Common stock, shares outstanding	3,545,309	3,596,131

CONSOLIDATED INCOME STATEMENTS

CONSOLIDATED INCOME STATEMENTS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net sales	$ 46,087	$ 42,041	$ 38,029
Cost of sales	33,338	28,909	24,454
Gross profit	12,749	13,132	13,575
Operating expenses:
Selling expenses	155	91	590
General and administrative expenses	4,028	4,903	4,076
Loss on disposal of equipment		35
Research and development costs	2,804	2,980	4,384
Total operating expenses	6,987	8,009	9,050
Operating income	5,762	5,123	4,525
Other income (expense):
Interest and dividend income	294	76	126
Unrealized gain on investments	3,899	931	1,990
Gain on sale of investments	6	28	1,327
Interest expense	(533)	(464)	(352)
Total other income	3,666	571	3,091
Income before income taxes	9,428	5,694	7,616
Income tax expense	2,354	1,122	1,446
Net income	$ 7,074	$ 4,572	$ 6,170
Basic & Diluted income per share:
Basic net income per share	$ 1.98	$ 1.26	$ 1.63
Diluted net income per share	$ 1.95	$ 1.21	$ 1.57
Weighted-average common shares outstanding:
Basic	3,571,044	3,635,894	3,796,516
Diluted	3,636,944	3,763,345	3,936,194

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands		Common Stock [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jun. 30, 2020		$ 12,752	$ 6,310	$ 19,062
Balance at beginning (in shares) at Jun. 30, 2020		3,811,137
Cumulative effect of restatement	[1]		697	697
Net income			6,170	6,170
ESPP shares issued		$ 57		57
ESPP shares issued (in shares)		2,677
Shares issued in connection with performance award vesting
Shares issued in connection with performance award vesting (in shares)		40,000
Shares withheld from common stock issued to pay employee payroll taxes		$ (259)		(259)
Shares withheld from common stock issued to pay employee payroll taxes (in shares)		(14,371)
Exercise of stock options	[2]	$ 39		39
Exercise of stock options (in shares)	[2]	22,388
Share-based compensation		$ 901		901
Share repurchases		$ (5,537)		(5,537)
Share repurchases (in shares)		(216,171)
Ending balance, value at Jun. 30, 2021		$ 7,953	13,177	21,130
Balance at end (in shares) at Jun. 30, 2021		3,645,660
Net income			4,572	4,572
ESPP shares issued		$ 60		60
ESPP shares issued (in shares)		2,576
Exercise of stock options	[3]
Exercise of stock options (in shares)	[3]	23,145
Share-based compensation		$ 1,275		1,275
Share repurchases		$ (1,606)		(1,606)
Share repurchases (in shares)		(75,250)
Ending balance, value at Jun. 30, 2022		$ 7,682	17,749	25,431
Balance at end (in shares) at Jun. 30, 2022		3,596,131
Net income			7,074	7,074
ESPP shares issued		$ 77		77
ESPP shares issued (in shares)		5,459
Shares issued in connection with performance award vesting
Shares issued in connection with performance award vesting (in shares)		37,500
Shares withheld from common stock issued to pay employee payroll taxes		$ (223)		(223)
Shares withheld from common stock issued to pay employee payroll taxes (in shares)		(13,859)
Exercise of stock options		$ 12		12
Exercise of stock options (in shares)		6,500
Share-based compensation		$ 766		766
Share repurchases		$ (1,547)		(1,547)
Share repurchases (in shares)		(86,422)
Ending balance, value at Jun. 30, 2023		$ 6,767	$ 24,823	$ 31,590
Balance at end (in shares) at Jun. 30, 2023		3,545,309
[1]This is the estimated fair value of the Monogram Warrant as of June 30, 2020. (See Note 2)[2]Excludes 112 shares forfeited to affect a cashless exercise.[3]Excludes 1,855 shares forfeited to affect a cashless exercise.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 7,074	$ 4,572	$ 6,170
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	857	726	686
Unrealized gain on investments	(3,899)	(931)	(1,990)
Gain on sale of investments	(6)	(28)	(1,327)
Impairment of long-lived assets		84
Non-cash lease expense (recovery)	(2)	13	26
Loss on sale or disposal of equipment		35
Amortization of loan fees	12	9	49
Share-based compensation	766	1,275	901
Deferred income taxes	264	(63)	89
Bad debt expense (recovery)		(2)	5
Changes in operating assets and liabilities:
Accounts receivable	5,432	(4,449)	(5,783)
Deferred costs	216	(517)	(38)
Inventory	(3,489)	(4,241)	(199)
Prepaid expenses	494	(331)	(314)
Accounts payable and accrued expenses	(1,153)	1,991	105
Deferred revenue	(1,013)	863	(50)
Income taxes payable	(91)	147	(408)
Net cash provided by (used in) operating activities	5,462	(847)	(2,078)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of equipment and improvements	(974)	(1,638)	(1,769)
Purchase of land and building			(6,499)
Proceeds from sale of investments	89	770	4,596
Increase in intangibles		(33)	(38)
Purchase of investments		(334)
Net cash used in investing activities	(885)	(1,235)	(3,710)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on notes payable	(6,093)	(1,244)	(351)
Borrowing from revolving loan, net of loan origination fees	5,284	2,000	9,139
Repurchases of common stock	(1,547)	(1,606)	(5,537)
Payments of employee taxes on net issuance of common stock	(223)		(259)
Proceeds from exercise of stock options and ESPP contributions	89	60	96
Net cash provided by (used in) financing activities	(2,490)	(790)	3,088
Net increase (decrease) in cash and cash equivalents	2,087	(2,872)	(2,700)
Cash and cash equivalents, beginning of year	849	3,721	6,421
Cash and cash equivalents, end of year	2,936	849	3,721
Non-cash investing and financing activity:
Cashless stock option exercise		45	4
Cash paid during the period for:
Income taxes, net of refunds	1,655	1,565	1,767
Interest	$ 521	$ 463	$ 330

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	12 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS We specialize in the design, development and manufacture of autoclavable, battery-powered and electric, multi-function surgical drivers and shavers used primarily in the orthopedic, thoracic, and craniomaxillofacial markets. We have patented adaptive torque-limiting technology and proprietary sealing solutions which appeal to our customers, primarily medical device distributors. We also manufacture and sell rotary air motors to a wide range of industries. In August 2020, we formed a wholly owned subsidiary, PDEX Franklin, LLC (“PDEX Franklin”), to hold title for an approximate 25,000 square foot industrial building in Tustin, California (the “Franklin Property”) that we acquired on November 6, 2020, in order to allow for the continued growth of our business. The consolidated financial statements include the accounts of the Company and PDEX Franklin and all significant inter-company accounts and transactions have been eliminated. This subsidiary has no separate operations.

RESTATEMENT OF PREVIOUSLY ISSUE

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	12 Months Ended
	Jun. 30, 2023
Restatement Of Previously Issued Financial Statements
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	2. RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS The Company has restated its consolidated financial statements as of and for the years ended June 30, 2022 and 2021 and as of and for the first three quarters of fiscal 2021, 2022 and 2023. The restatement corrects the error related to the fair value of the Monogram Warrant which had been understated (See Note 5). The restatement records the investment at its estimated fair value for all restated periods, records the unrealized gain on investments for each restated period, and records the deferred income tax expense associated with the corresponding unrealized gain on investments. The restatement does not impact previously reported revenues, operating income, cash or cash flows for any previous periods. Presented below are the changes to each financial statement line item which changed as a result of the restatement. June 30, 2022 Balance Sheet Schedule of changes to each financial statement line item which changed as a result of restatement As Previously Reported Restatement As Restated Deferred income taxes, net $ 797 $ (541 ) (a) $ 256 Investments 1,779 2,304 (b) 4,083 Total assets 47,326 1,763 49,089 Retained earnings 15,986 1,763 17,749 Total liabilities and shareholders’ equity 47,326 1,763 49,089 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at June 30, 2022. Fiscal 2022 Income Statement As Previously Reported Restatement As Restated Unrealized gain (loss) on investments $ (57 ) $ 988 (a) $ 931 Total other income (loss) (417 ) 988 571 Income before income taxes 4,706 988 5,694 Income tax expense 851 271 (b) 1,122 Net income 3,855 717 4,572 Basic income per share $ 1.06 $ 0.20 $ 1.26 Diluted income per share $ 1.02 $ 0.19 $ 1.21 (a) This amount represents the unrealized gain on the Monogram Warrant for the fiscal year 2022. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the fiscal year 2022. Fiscal 2021 Income Statement As Previously Reported Restatement As Restated Unrealized gain on investments $ 1,371 $ 619 (a) $ 1,990 Total other income 2,472 619 3,091 Income before income taxes 6,997 619 7,616 Income tax expense 1,176 270 (b) 1,446 Net income 5,821 349 6,170 Basic income per share $ 1.53 $ 0.10 $ 1.63 Diluted income per share $ 1.48 $ 0.09 $ 1.57 (a) This amount represents the unrealized gain on the Monogram Warrant for the fiscal year 2021. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the fiscal year 2021. Fiscal 2023 Unaudited Quarterly Periods September 30, 2022 December 31, 2022 March 31, 2023 Net income, as previously reported $ 1,076 $ 879 $ 1,313 Adjustments to net income: Unrealized gain on investments (a) 175 2,582 419 Income tax expense (b) 48 709 115 Net income, as restated $ 1,203 $ 2,752 $ 1,617 Basic & Diluted income per share as previously reported: Basic net income per share $ 0.30 $ 0.25 $ 0.37 Diluted net income per share $ 0.29 $ 0.24 $ 0.36 Basic & Diluted income per share as restated: Basic net income per share $ 0.33 $ 0.80 $ 0.46 Diluted net income per share $ 0.33 $ 0.79 $ 0.45 Weighted-average common shares outstanding: Basic 3,616,000 3,574,000 3,548,000 Diluted 3,695,000 3,652,000 3,623,000 (a) This amount represents the unrealized gain on the Monogram Warrant. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant. Fiscal 2022 Unaudited Quarterly Periods September 30, 2021 December 31, 2021 March 31, 2022 June 30, 2022 Net income as previously reported $ 1,064 $ 925 $ 462 $ 1,405 Adjustments to net income: Unrealized gain on investments (a) 22 216 155 595 Income tax expense (b) 6 59 43 163 Net income as restated $ 1,080 1,082 $ 574 1,837 Basic & Diluted income per share as previously reported Basic net income per share $ 0.29 $ 0.25 $ 0.13 $ 0.39 Diluted net income per share $ 0.28 $ 0.25 $ 0.12 $ 0.38 Basic & Diluted income per share as restated Basic net income per share $ 0.30 $ 0.30 $ 0.16 $ 0.51 Diluted net income per share $ 0.29 $ 0.29 $ 0.15 $ 0.49 Weighted-average common shares outstanding: Basic 3,651,000 3,657,000 3,626,000 3,609,000 Diluted 3,777,000 3,767,000 3,749,000 3,731,000 (a) This amount represents the unrealized gain on the Monogram Warrant. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant. Fiscal 2021 Unaudited Quarterly Periods September 30, 2020 December 31, 2020 March 31, 2021 June 30, 2021 Net income as previously reported $ 1,158 $ 1,750 $ 2,131 $ 782 Adjustments to net income: Unrealized loss on investments (a) (59 ) 51 42 585 Income tax (benefit) expense (b) (16 ) 14 12 260 Net income as restated $ 1,115 1,787 $ 2,161 1,107 Basic & Diluted income per share as previously reported Basic net income per share $ 0.30 $ 0.45 $ 0.56 $ 0.23 Diluted net income per share $ 0.29 $ 0.44 $ 0.54 $ 0.22 Basic & Diluted income per share as restated Basic net income per share $ 0.29 $ 0.46 $ 0.57 $ 0.29 Diluted net income per share $ 0.28 $ 0.45 $ 0.54 $ 0.28 Weighted-average common shares outstanding: Basic 3,851,000 3,861,000 3,817,000 3,656,000 Diluted 3,975,000 4,012,000 3,966,000 3,796,000 (a) This amount represents the unrealized gain on the Monogram Warrant. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant. September 30, 2020 Unaudited Balance Sheet (First Quarter Fiscal 2021) As Previously Reported Restatement As Restated Deferred income taxes, net $ 259 $ 16 (a) $ 275 Investments 2,309 638 (b) 2,947 Total assets 30,797 654 31,451 Retained earnings 7,468 654 8,122 Total liabilities and shareholders’ equity 30,797 654 31,451 (a) This amount represents the income tax benefit associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at September 30, 2020. First Quarter Fiscal 2021 Unaudited Income Statement – Three months ended September 30, 2020 As Previously Reported Restatement As Restated Unrealized gain (loss) on investments $ (107 ) $ (59 ) (a) $ (166 ) Total other income (expense) (108 ) (59 ) (167 ) Income before income taxes 1,441 (59 ) 1,382 Income tax expense 283 (16 ) (b) 267 Net income 1,158 (43 ) 1,115 Basic income per share $ 0.30 $ (0.01 ) $ 0.29 Diluted income per share $ 0.29 $ (0.01 ) $ 0.28 (a) This amount represents the unrealized loss on the Monogram Warrant for the three months ended September 30, 2020. (b) This amount represents the income tax benefit related to the unrealized loss on the Monogram Warrant for the three months ended September 30, 2020. December 31, 2020 Unaudited Balance Sheet (Second Quarter Fiscal 2021) As Previously Reported Restatement As Restated Deferred income taxes, net $ 259 $ 2 (a) $ 261 Investments 3,238 689 (b) 3,927 Total assets 38,372 691 39,063 Retained earnings 9,218 691 9,909 Total liabilities and shareholders’ equity 38,372 691 39,063 (a) This amount represents the income tax benefit associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at December 31, 2020. Three months ended December 31, 2020 Unaudited Income Statement (Second Quarter Fiscal 2021) As Previously Reported Restatement As Restated Unrealized gain (loss) on investments $ 1,413 $ 51 (a) $ 1,464 Total other income (expense) 1,358 51 1,409 Income before income taxes 1,879 51 1,930 Income tax expense 129 14 (b) 143 Net income 1,750 37 1,787 Basic income per share $ 0.45 $ 0.01 $ 0.46 Diluted income per share $ 0.44 $ 0.01 $ 0.45 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended December 31, 2020. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended December 31, 2020. March 31, 2021 Unaudited Balance Sheet (Third Quarter Fiscal 2021) As Previously Reported Restatement As Restated Deferred income taxes, net $ 259 $ (9 ) (a) $ 250 Investments 3,026 731 (b) 3,757 Total assets 42,315 722 43,037 Retained earnings 11,349 722 12,071 Total liabilities and shareholders’ equity 42,315 722 43,037 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at March 31, 2021. Three months ended March 31, 2021 Unaudited Income Statement (Third Quarter Fiscal 2021) As Previously Reported Restatement As Restated Unrealized gain (loss) on investments $ 136 $ 42 (a) $ 178 Total other income (expense) 858 42 900 Income before income taxes 2,723 42 2,765 Income tax expense 592 12 (b) 604 Net income 2,131 30 2,161 Basic income per share $ 0.56 $ 0.01 $ 0.57 Diluted income per share $ 0.54 $ 0.01 $ 0.54 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended March 31, 2021. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended March 31, 2021. September 30, 2021 Unaudited Balance Sheet (First Quarter Fiscal 2022) As Previously Reported Restatement As Restated Deferred income taxes, net $ 463 $ (276 ) (a) $ 187 Investments 1,656 1,338 (b) 2,994 Total assets 41,865 1,062 42,927 Retained earnings 13,195 1,062 14,257 Total liabilities and shareholders’ equity 41,865 1,062 42,927 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at September 30, 2021. First Quarter Fiscal 2022 Unaudited Income Statement – Three months ended September 30, 2021 As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ 149 $ 22 (a) $ 171 Total other income (expense) 53 22 75 Income before income taxes 1,371 22 1,393 Income tax expense 307 6 (b) 313 Net income 1,064 16 1,080 Basic income per share $ 0.29 $ 0.01 $ 0.30 Diluted income per share $ 0.28 $ 0.01 $ 0.29 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended September 30, 2021. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended September 30, 2021. December 31, 2021 Unaudited Balance Sheet (Second Quarter Fiscal 2022) As Previously Reported Restatement As Restated Deferred income taxes, net $ 463 $ (335 ) (a) $ 128 Investments 1,940 1,554 (b) 3,494 Total assets 42,114 1,219 43,333 Retained earnings 14,119 1,219 15,338 Total liabilities and shareholders’ equity 42,114 1,219 43,333 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at December 31, 2021. Three months ended December 31, 2021 Unaudited Income Statement (Second Quarter Fiscal 2022) As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ (300 ) $ 216 (a) $ (84 ) Total other income (expense) (392 ) 216 (176 ) Income before income taxes 1,210 216 1,426 Income tax expense 285 59 (b) 344 Net income 925 157 1,082 Basic income per share $ 0.25 $ 0.05 $ 0.30 Diluted income per share $ 0.25 $ 0.04 $ 0.29 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended December 31, 2021. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended December 31, 2021. March 31, 2022 Unaudited Balance Sheet (Third Quarter Fiscal 2022) As Previously Reported Restatement As Restated Deferred income taxes, net $ 463 $ (378 ) (a) $ 85 Investments 1,778 1,709 (b) 3,487 Total assets 43,884 1,331 45,215 Retained earnings 14,581 1,331 15,912 Total liabilities and shareholders’ equity 43,884 1,331 45,215 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at March 31, 2022. Three months ended March 31, 2022 Unaudited Income Statement (Third Quarter Fiscal 2022) As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ (275 ) $ 155 (a) $ (120 ) Total other income (expense) (387 ) 155 (232 ) Income before income taxes 634 155 789 Income tax expense 172 43 (b) 215 Net income 462 112 574 Basic income per share $ 0.13 $ 0.03 $ 0.16 Diluted income per share $ 0.12 $ 0.03 $ 0.15 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended March, 31, 2022. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended March 31, 2022. September 30, 2022 Unaudited Balance Sheet (First Quarter Fiscal 2023) As Previously Reported Restatement As Restated Deferred income taxes, net $ 764 $ (589 ) (a) $ 175 Investments 1,889 2,479 (b) 4,368 Total assets 47,965 1,890 49,855 Retained earnings 17,062 1,890 18,952 Total liabilities and shareholders’ equity 47,965 1,890 49,855 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at September 30, 2022. First Quarter Fiscal 2023 Unaudited Income Statement – Three months ended September 30, 2022 As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ 250 $ 175 (a) $ 425 Total other income (expense) 344 175 519 Income before income taxes 1,294 175 1,469 Income tax expense 218 48 (b) 266 Net income 1,076 127 1,203 Basic income per share $ 0.30 $ 0.03 $ 0.33 Diluted income per share $ 0.29 $ 0.04 $ 0.33 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended September 30, 2022. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended September 30, 2022. December 31, 2022 Unaudited Balance Sheet (Second Quarter Fiscal 2023) As Previously Reported Restatement As Restated Deferred income taxes, net $ 764 $ (764 ) (a) $ — Investments 1,726 5,061 (b) 6,787 Total assets 47,579 4,297 51,876 Deferred income taxes — 534 534 Total liabilities 23,105 534 23,639 Retained earnings 17,941 3,763 21,704 Total liabilities and shareholders’ equity 47,579 4,297 51,876 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at December 31, 2022. Three months ended December 31, 2022 Unaudited Income Statement (Second Quarter Fiscal 2023) As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ 158 $ 2,582 (a) $ 2,740 Total other income (expense) 37 2,582 2,619 Income before income taxes 1,174 2,582 3,756 Income tax expense 295 709 (b) 1,004 Net income 879 1,873 2,752 Basic income per share $ 0.25 $ 0.55 $ 0.80 Diluted income per share $ 0.24 $ 0.55 $ 0.79 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended December 31, 2022. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended December 31, 2022. March 31, 2023 Unaudited Balance Sheet (Third Quarter Fiscal 2023) As Previously Reported Restatement As Restated Deferred income taxes, net $ 764 $ (764 ) (a) $ — Investments 1,534 5,480 (b) 7,014 Total assets 46,975 4,716 51,691 Deferred income taxes — 649 649 Total liabilities 21,136 649 21,785 Retained earnings 19,254 4,067 23,321 Total liabilities and shareholders’ equity 46,975 4,716 51,691 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at March 31, 2023. Three months ended March 31, 2023 Unaudited Income Statement (Third Quarter Fiscal 2023) As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ (177 ) $ 419 (a) $ 242 Total other income (expense) (297 ) 419 122 Income before income taxes 1,768 419 2,187 Income tax expense 455 115 (b) 570 Net income 1,313 304 1,617 Basic income per share $ 0.37 $ 0.09 $ 0.46 Diluted income per share $ 0.36 $ 0.09 $ 0.45 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended March 31, 2023. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended March 31, 2023.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The summary of significant accounting policies presented below is designed to assist the reader in understanding our consolidated financial statements. Such consolidated financial statements and related notes are the representations of management, who is responsible for their integrity and objectivity. In the opinion of management, these accounting policies conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) in all material respects and have been consistently applied in preparing the accompanying consolidated financial statements. Net Sales Net sales consists of the sale of products and services, as well as shipping and handling costs billed to our customers and is net of volume rebates and discounts and excludes sales tax. Revenue Recognition Revenue from product sales is recognized as promulgated by the Financial Accounting Standards Board (“FASB”) in Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Revenue from services, typically non-recurring engineering services related to the design or customization of a medical device, is typically recognized over time. The customer funding for costs incurred for non-recurring engineering services is deferred and subsequently recognized as revenue as under-lying products or services are delivered to the customers. Additionally, expenses incurred, up to the customer agreed funding amount, are deferred as an asset and recognized as cost of sales when the under-lying products or services are delivered to the customer. The deferred customer funding and costs result in recognition of deferred costs (asset) and deferred revenue (liability) on our consolidated balance sheets. One of our customer contracts can give rise to variable consideration due to volume rebates. We estimate variable consideration at the most likely amount we will receive from our customer. Our estimates of variable consideration are based on an assessment of our anticipated performance and all information (historical, current, and forecasted) that is reasonably available to us. Returns of our product for credit are minimal; accordingly, we do not establish a reserve for product returns at the time of sale. Cost of Sales Cost of sales consists primarily of the purchase price of goods and cost of services rendered including freight costs. Cost of sales also includes production labor and overhead costs for all of our manufacturing and assembly operations, which overhead includes all indirect labor and expenses associated with our inspection, warehousing, material planning and quality departments. Estimated Losses on Product Development Services Cost and revenue estimates related to the product development service portions of development and supply contracts are reviewed and updated quarterly. An expected loss on development service contracts is recognized immediately in cost of sales. Losses recorded in fiscal 2023 and 2022 related to these services totaled $ 108,000 0 Owing to the complexity of many of the contracts we have undertaken, the cost estimation process requires significant judgment. It is based upon the knowledge and experience of our project managers, engineers, and finance professionals. Factors that are considered in estimating the cost of work to be completed and ultimate profitability of the fixed price product development portion of development and supply contracts include the nature and complexity of the work to be performed, availability and productivity of labor, the effect of change orders, the availability of materials, performance of subcontractors, and expected costs for specific regulatory approvals. Warranties Certain of our products are sold with a warranty that provides for repairs or replacement of any defective parts for a period, generally one to two years, after the sale. At the time of the sale, we accrue an estimate of the cost of providing the warranty based on prior experience with such factors as return rates and repair costs, which factors are reviewed quarterly. The warranty accrual is based on historical costs of warranty repairs and expected future identifiable warranty expenses and is included in accrued expenses in the accompanying balance sheets. Warranty expenses are included in cost of sales in the accompanying statements of operations. Changes in estimates to previously established warranty accruals result from current period updates to assumptions regarding repair costs and warranty return rates and are included in current period warranty expense. Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of ninety days or less to be cash equivalents. At June 30, 2023 and 2022, cash equivalents consisted of investments in money market funds. Accounts Receivable Trade receivables are stated at their original invoice amounts, less an allowance for doubtful portions of such accounts. Management determines the allowance for doubtful accounts based on facts and circumstances related to specific accounts and the age of accounts. Trade receivables are written off when deemed uncollectible. Recoveries of trade receivables previously reserved are offset against the allowance when received. Deferred Costs Deferred costs reflect costs incurred related to non-recurring engineering services under the terms of the related development and/or supply contracts. These costs get recorded to cost of sales in the period that the revenue is recognized. Inventories Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value. Cost includes materials, labor, and manufacturing overhead related to the purchase and production of inventories. Reductions to estimated market value are recorded and charged to cost of sales, when indicated based on a formula that compares on-hand quantities to both historical usage and estimated demand over the ensuing 12 months from the measurement date. On an ongoing basis, we evaluate inventory for obsolescence and slow-moving items. This evaluation includes analysis of historical sales and usage, existing demand, as well as specific factors known to management. As of June 30, 2023 and 2022, there was approximately $ 637,000 177,000 Investments Investments at June 30, 2023 and 2022, consist of marketable equity securities of publicly held companies as well as a warrant to purchase common stock of a company whose common stock first became publicly traded in May 2023. The investments were made to realize a reasonable return, although there is no assurance that positive returns will be realized. Investments are marked to market at each measurement date, with unrealized gains and losses presented separately within other income and expense on the consolidated income statement. Certain investments consist of common stocks of public companies that are thinly traded. These investments were subject to a valuation analysis as of June 30, 2023 and 2022. Long-lived Assets We review the recoverability of long-lived assets, consisting of the land and building that we own, equipment, and improvements, including leasehold improvements, when events or changes in circumstances occur that indicate carrying values may not be recoverable. Our building, equipment and improvements are recorded at historical cost and depreciation is provided using the straight-line method over the following periods: Schedule of building, equipment and improvements Building Thirty years Equipment Three to ten years Improvements Shorter of the remaining life of the underlying building, lease term, or the asset’s estimated useful life Intangibles Intangibles consist legal fees incurred connection with patent applications. Our patent costs are being amortized over a period of four to seven years. The expense associated with the amortization of the patent costs is recognized in research and development costs. Income Taxes We recognize deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of our assets and liabilities along with net operating losses and tax credit carryovers. Net deferred tax assets or liabilities at both June 30, 2023 and 2022 consisted primarily of basis differences related to unrealized gain/loss related to investments, stock-based compensation, fixed assets, accrued expenses, and inventories. Our fiscal 2023 deferred tax assets also includes capitalization of our research expenditures as prescribed by the Tax Cuts and Jobs Act. Significant management judgment is required in determining the provision for income taxes, the recoverability of deferred tax assets, and the extinguishment of deferred tax liabilities. Such determination is based on historical taxable income, with consideration given to estimates of future taxable income and the periods over which deferred tax assets will be recoverable and deferred tax liabilities will be extinguished. We record a valuation allowance against deferred tax assets to reduce the net carrying value to an amount that we believe is more likely than not to be realized. When we establish or reduce the valuation allowance against deferred tax assets, the provision for income taxes will increase or decrease, respectively, in the period such determination is made. Uncertain Tax Positions We record uncertain tax positions in accordance with Accounting Standards Codification (“ASC”) 740 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position, and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. Shipping and Handling Payments from customers for shipping and handling are included in net sales . Concentration of Credit Risk Financial instruments that potentially subject us to credit risk consist principally of cash, cash equivalents, and trade receivables. We place our cash and cash equivalents with major financial institutions. At June 30, 2023 and 2022, and throughout the fiscal years then ended, we had deposits in excess of federally insured limits. Credit sales are made to medical device distributors, original equipment manufacturers, and resellers throughout the world, and sales to such customers account for a substantial portion of our trade receivables. While such receivables are not collateralized, we evaluate their collectability based on several factors including customers’ payment histories. Compensation Plans We recognize compensation expense for the share-based awards that vest subject to market conditions under ASC 718, Compensation-Stock Compensation Use of Estimates The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our operations are affected by numerous factors including market acceptance of our products, supply chain disruptions, changes in technologies, and new laws, effects from the COVID-19 pandemic, government regulations, and policies. We cannot predict what impact, if any, the occurrence of these or other events might have on our operations. Significant estimates and assumptions made by management include, but are not limited to, revenue recognition, share-based compensation, the allowance for doubtful accounts, accrued warranty expense, investments, inventory valuation, the carrying value of long-lived assets, and the recoverability/extinguishment of deferred income tax assets and liabilities. Basic and Diluted Per Share Information Basic per share amounts are computed on the basis of the weighted-average number of common shares outstanding during each period presented. Diluted per share amounts assume the issuance of all potential common stock equivalents, consisting of outstanding stock options and performance awards as discussed in Note 13, unless the effect of such exercise is to increase income, or decrease loss, per common share. Fair Value Measurements Fair value is measured based on the prices that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based on a three-tier hierarchy that prioritizes the inputs used to measure fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. Cash and cash equivalents: Investments: Although the methods above may produce a fair value calculation that may not be indicative of the net realizable value or reflective of future fair values, we believe our valuation methods are appropriate. Advertising Advertising costs are charged to selling or general and administrative expense as incurred and amounted to $ 4,000 1,000 Recently Issued and Not Yet Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments—Credit Losses (Topic 326). ASU 2016-13 revises the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in more timely recognition of losses on financial instruments, including, but not limited to, available for sale debt securities and accounts receivable. The guidance is effective for the Company’s annual reporting period beginning after December 15, 2022 and interim reporting periods within that annual reporting period. The Company does not expect the adoption of this ASU to have a material impact on the consolidated financial statements.

NET SALES

NET SALES	12 Months Ended
	Jun. 30, 2023
Net Sales
NET SALES	4. NET SALES The following table presents the disaggregation of net sales by revenue recognition model (in thousands): Schedule of disaggregation of net sales Year ended June 30, 2023 2022 Net Sales: Over-time revenue recognition $ 2,695 $ 1,014 Point-in-time revenue recognition 43,392 41,027 Total net sales $ 46,087 $ 42,041 The timing of revenue recognition, billings, and cash collections results in billed accounts receivables, unbilled receivables (presented as deferred costs on our consolidated balance sheets) and customer advances and deposits (presented as deferred revenue on our consolidated balance sheets), where applicable. Amounts are generally billed as work progresses in accordance with agreed upon milestones. The over-time revenue recognition model consists of non-recurring engineering (“NRE”) and prototype services and typically relates to NRE services related to the evaluation, design or customization of a medical device and is typically recognized over time utilizing an input measure of progress based on costs incurred compared to the estimated total costs upon completion. During the fiscal years ended June 30, 2023 and 2022, we recorded $ 1 98,000 The following tables summarize our contract assets and liability balances (in thousands): Schedule of contract assets and liability June 30, 2023 2022 Contract assets at beginning of year $ 710 $ 193 Expenses incurred during the year 1,545 1,319 Amounts reclassified to cost of sales (1,710 ) (774 ) Amounts allocated to discounts for standalone selling price (51 ) (28 ) Contract assets at end of year $ 494 $ 710 June 30, 2023 2022 Contract liabilities at beginning of year $ 1,013 $ 150 Payments received from customers 781 1,482 Amounts reclassified to revenue (1,794 ) (619 ) Contract liabilities at end of year $ — $ 1,013

COMPOSITION OF CERTAIN FINANCIA

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS	12 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS	5. COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS Investments Investments are stated at market value and consist of the following (in thousands): Schedule of investments Years Ended June 30, 2023 2022 Current: (Restated) Marketable equity securities – short-term $ 1,134 $ 755 Long-term: Warrant 6,160 2,304 Marketable equity securities – long-term 1,361 1,779 Total Investments $ 8,655 $ 4,838 Marketable equity securities at June 30, 2023 and 2022 had an aggregate cost basis $ 2,714,000 2,796,000 219,000 286,000 67,000 262,000 369,000 107,000 Of the total marketable equity securities at June 30, 2023 and 2022, $ 1,134,000 755,000 T, Inc. and both either individually or through affiliates own an equity interest in Air T, Inc. Mr. Swenson, our Chairman, also serves as the chief executive officer and chairman of Air T, Inc. Another of our Board members is employed by Air T as its Chief of Staff. The shares have been purchased through 10b5-1 Plans that, in accordance with our internal policies regarding the approval of related-party transactions, were approved by our then three Board members that are not affiliated with Air T, Inc. The warrant represents our right to purchase up to 5% of the outstanding stock of Monogram Orthopaedics Inc. (“Monogram”) which we were granted on December 18, 2018. By way of background, we invested in Monogram, a medical device start-up specializing in precision, patient specific implants in fiscal 2017, by making an $ 800,000 800,000 1,250,000 At June 30, 2023 and 2022, the warrant was exercisable into a total of 1,823,058 783,386 6,160,000 2,304,000 Schedule of assumptions used June 30, June 30, Stock Price (common) $ 3.98 $ 3.02 Strike Price (common) $ .69 $ 1.60 Time until expiration (years) 2.48 3.48 Volatility 60.0 % 60.0 % Risk-free interest rate 4.68 % 3.00 % We invest surplus cash from time to time through our Investment Committee, which is comprised of one management director, Mr. Van Kirk, and two non-management directors, Mr. Cabillot and Mr. Swenson, who chairs the committee. Both Mr. Cabillot and Mr. Swenson are active investors with extensive portfolio management expertise. We leverage the experience of these committee members to make investment decisions for the investment of our surplus operating capital or borrowed funds. Additionally, many of our securities holdings include stocks of public companies that either Messrs. Swenson or Cabillot or both may own from time to time either individually or through the investment funds that they manage, or other companies whose boards they sit on, such as Air T, Inc. Inventory Inventory is stated at the lower of cost (first-in, first-out) or net realizable value and consists of the following (in thousands): Schedule of inventory June 30, 2023 2022 Raw materials /purchased components $ 8,824 $ 6,323 Work in process 3,686 3,463 Sub-assemblies /finished components 2,387 2,118 Finished goods 1,270 774 Total inventory $ 16,167 $ 12,678 Land and Building Land and building consist of the following (in thousands): Schedule of land and building June 30, June 30, Land $ 3,684 $ 3,684 Building 2,815 2,815 Total 6,499 6,499 Less: accumulated depreciation (250 ) (156 ) $ 6,249 $ 6,343 On November 6, 2020, we acquired the Franklin Property for a total purchase price of $ 6.5 1.3 5.2 Equipment and Improvements Equipment and improvements consist of the following (in thousands): Schedule of equipment and improvements June 30, 2023 2022 Office furnishings and fixtures $ 1,957 $ 2,224 Machinery and equipment 6,675 6,661 Automobiles 21 21 Improvements 4,737 4,271 Total 13,390 13,177 Less: accumulated depreciation and amortization (8,311 ) (8,344 ) $ 5,079 $ 4,833 Depreciation expense for the years ended June 30, 2023 and 2022 amounted to $ 727,000 616,000 760,000 87,000 35,000 Intangibles Intangibles consist of the following (in thousands): Schedule of intangibles June 30, June 30, Patent-related costs $ 208 $ 208 Less accumulated amortization (127 ) (90 ) $ 81 $ 118 Amortization expense for the years ended June 30, 2023 and 2022 amounted to $ 37,000 16,000 Patent-related costs consist of legal fees incurred in connection with both patent applications and patent issuances, and will be amortized over the estimated life of the product(s) that is or will be utilizing the technology, or expensed immediately in the event the patent office denies the issuance of the patent. During fiscal 2022, we impaired $ 84,000 30,000 Accrued Liabilities Accrued liabilities consist of the following (in thousands): Schedule of accrued liabilities June 30, 2023 2022 Payroll and related items $ 650 $ 509 Accrued inventory in transit 637 177 Accrued legal and professional fees 216 275 Accrued bonuses 400 430 Current portion of lease liability 416 379 Warranty 200 340 Accrued customer rebate 480 517 Other 136 124 Total accrued expenses $ 3,135 $ 2,751

WARRANTY ACCRUAL

WARRANTY ACCRUAL	12 Months Ended
	Jun. 30, 2023
Guarantees and Product Warranties [Abstract]
WARRANTY ACCRUAL	6. WARRANTY ACCRUAL Information relating to the accrual for warranty costs for the years ended June 30, 2023 and 2022, is as follows (in thousands): Schedule of accrual warranty costs June 30, 2023 2022 Balance at beginning of year $ 340 $ 221 Accruals during the year 161 177 Change in estimates of prior period accruals (109 ) 54 Warranty amortization/utilization (192 ) (112 ) Balance at end of year $ 200 $ 340 Warranty expense relating to new product sales and changes to estimates was $ 52,000 231,000

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	7. INCOME TAXES The provision for income taxes consists of the following amounts (in thousands): Schedule of provision for income taxes Years Ended June 30, 2023 2022 (Restated) Current: Federal $ 1,745 $ 733 State 345 451 Deferred: Federal 6 23 State 258 (85 ) Income tax expense $ 2,354 $ 1,122 The effective income tax rate from income from continuing operations differs from the United States statutory income tax rates for the reasons set forth in the table below (in thousands, except percentages). Schedule of reconciliation federal statutory income tax rates Years Ended June 30, 2023 2022 (Restated) Amount Percent Pretax Income Amount Percent Pretax Income Income before income taxes $ 9,428 100 % $ 5,694 100 % Computed “expected” income tax expense on income before income taxes $ 1,979 21 % $ 1,183 21 % State tax, net of federal benefit 672 7 % 266 5 % Tax incentives (229 ) (2 %) (205 ) (4 %) Uncertain tax position (119 ) (1 %) (76 ) (1 %) Stock based compensation (114 ) (1 %) — — Other 165 1 % (46 ) (1 %) Income tax expense $ 2,354 25 % $ 1,122 20 % Deferred income taxes reflect the net effects of loss and credit carryforwards and temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities for federal and state income taxes are as follows (in thousands): Schedule of deferred income tax assets and liabilities June 30, 2023 2022 (Restated) Deferred tax assets: Federal and state NOL carryforward $ 22 $ 22 Research and other credits 65 65 Reserves 122 163 Accruals 267 322 Stock based compensation 814 651 Unrealized losses — 35 Section 174 capitalization 830 — Lease liability 599 713 Inventory 351 514 Deferred state tax 31 — Total gross deferred tax assets $ 3,101 $ 2,485 Less: valuation allowance (91 ) (98 ) Total deferred tax assets 3,010 2,387 Deferred tax liabilities: Property and equipment, principally due to differing depreciation methods $ (767 ) $ (820 ) Right of use asset (546 ) (658 ) Deferred state tax — (77 ) Unrealized gains (1,705 ) (541 ) Other — (35 ) Total gross deferred tax liabilities (3,018 ) (2,131 ) Net deferred tax assets (liabilities) $ (8 ) $ 256 Realization of our deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain. As of June 30, 2023, our deferred tax asset valuation allowance primarily consists and the state net operating loss carryforwards for states in which we have filed a final return. For the fiscal year ended June 30, 2023, we recorded a net decrease to our valuation allowance of $ 7,000 As of June 30, 2023, we did not have any net operating losses for federal and state income tax purposes for state jurisdictions in which we currently operate. We have no federal or state research and development and alternative minimum tax credit carry forwards at June 30, 2023. As of June 30, 2023, we have accrued $ 345,000 Information with respect to our accrual for unrecognized tax benefits is as follows (in thousands): Schedule of accrual unrecognized tax benefits June 30, 2023 2022 Unrecognized tax benefits: Beginning balance $ 509 $ 550 Additions based on federal tax positions related to the current year 16 33 Additions based on state tax positions related to the current year 19 26 Additions (reductions) for tax positions of prior years (95 ) 9 Reductions due to lapses in statutes of limitation (104 ) (109 ) Ending balance $ 345 $ 509 Although it is reasonably possible that certain unrecognized tax benefits may increase or decrease within the next twelve months due to tax examinations, settlement activities, expirations of statute of limitations, or the impact on recognition and measurement considerations related to the results of published tax cases or other similar activities, we do not anticipate any significant changes to unrecognized tax benefits over the next twelve months. We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense when applicable. As of June 30, 2023, $ 45,000 We are subject to U.S. federal income tax, as well as income tax of California, Colorado, and Massachusetts. We are currently open to audit under the statute of limitations by the Internal Revenue Service for the years ended June 30, 2020, and later. However, because of our prior net operating losses and research credit carryovers, our tax years from June 30, 2008, are open to audit.

NOTES PAYABLE AND FINANCING TRA

NOTES PAYABLE AND FINANCING TRANSACTIONS	12 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
NOTES PAYABLE AND FINANCING TRANSACTIONS	8. NOTES PAYABLE AND FINANCING TRANSACTIONS Minnesota Bank & Trust On November 6, 2020 (the “Closing Date”), PDEX Franklin, a newly created wholly owned subsidiary of the Company, purchased the Franklin Property. A portion of the purchase price was financed by a loan from MBT to PDEX Franklin in the principal amount of approximately $ 5.2 26,037 The Property Loan bears interest at a fixed rate of 3.55 30,000 November 1, 2030 3.1 Any prepayment of the Property Loan (other than monthly scheduled interest and principal payments), is subject to a prepayment fee equal to 4% of the principal amount prepaid for any prepayment made during the first or second year, 3% of the principal amount prepaid for any prepayment made during the third or fourth year, 2% of the principal amount prepaid for any prepayment made during the fifth or sixth year, and 1% of the principal amount prepaid for any prepayment made during the seventh or eighth year. 4,746,000 On the Closing Date, we also entered into an Amended and Restated Credit Agreement with MBT (the “Amended Credit Agreement”), providing for a $ 7,525,000 1,000,000 2,000,000 3,770,331 3,000,000 1,000,000 The Term Loan A matures on November 1, 2027 3.84 97,000 4,832,000 The Term Loan B matures on November 1, 2027 3.84 15,000 719,000 On December 29, 2022 (the “Amendment Date”), we entered into Amendment No. 2 to Amended and Restated Credit Agreement (the “Amendment”) with MBT, which amends the Amended Credit Agreement and provides for a supplemental line of credit in the amount of $ 3,000,000 December 29, 2024 no The Revolving Loan was also amended (the “Amended Revolving Loan”) in connection with the Amendment to extend the maturity date from November 5, 2023 to December 29, 2024 2,000,000 7,000,000 2,500,000 16,000 The Amended Revolving Loan and Supplemental Loan bear interest at an annual rate equal to the greater of (a) 5.0 Any payment on the Term Loan A, the Term Loan B, the Amended Revolving Loan or the Supplemental Loan (collectively, the “Loans”) not made within seven days after the due date is subject to a late payment fee equal to 5 3 The Amended Credit Agreement, Amended Security Agreement, Term Note A, Term Note B, Amended Revolving Note and Supplemental Note contain representations and warranties, affirmative, negative and financial covenants, and events of default that are customary for loans of this type. We believe that we are in compliance with all of our debt covenants as of June 30, 2023, but there can be no assurance that we will remain in compliance for the duration of the term of these loans. Scheduled principal maturities of our loans, assuming repayment of our revolver in full next fiscal year and exclusive of unamortized loan origination fees in the amount of $ 59,000 Schedule of maturities of term loan for future fiscal years Term Loan Fiscal Year: 2024 $ 3,844 2025 1,397 2026 1,451 2027 1,508 2028 908 Thereafter 3,689 Total principal payments $ 12,797

LEASES

LEASES	12 Months Ended
	Jun. 30, 2023
Leases
LEASES	9. LEASES Our operating lease ROU asset and long-term liability are presented separately on our balance sheet. The current portion of our operating lease liability, exclusive of imputed interest, as of June 30, 2023, in the amount of $ 416,000 Schedule of maturities of lease liabilities Operating Lease Fiscal Year: 2024 $ 519 2025 535 2026 551 2027 567 2028 143 Total lease payments 2,315 Less imputed interest: (261 ) Total $ 2,054 As of June 30, 2023, our operating lease has a remaining lease term of four years and three months and an imputed interest rate of 5.3 504,000 489,000

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	10. COMMITMENTS AND CONTINGENCIES Leases We lease our office, production, and warehouse facility in Irvine, California (our “corporate office”) under an agreement that expires in September 2027. Our corporate office lease requires us to pay insurance, taxes, and other expenses related to the leased space. Rent expense in fiscal 2023 and 2022 was $ 563,000 559,000 Compensation Arrangements Retirement Savings 401(k) Plan The Pro-Dex, Inc. Retirement Savings 401(k) Plan (the “401(k) Plan”) is a defined contribution plan we administer that covers substantially all our employees and is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended. Employees are eligible to participate in the 401(k) Plan when they have attained 19 years of age and then can enter into the 401(k) Plan on the first day of each calendar quarter. Participants are eligible to receive non-discretionary matching contributions by the Company equal to 25 5 50 5 164,000 72,000 13,000 25,000 Legal Matters We may be involved in legal proceedings arising either in the ordinary course of our business or incidental to our business. There can be no certainty, however, that we may not ultimately incur liability or that such liability will not be material or adverse.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	11. SHARE-BASED COMPENSATION Stock Option Plans Through 2014, we had two equity compensation plans, the Second Amended and Restated 2004 Stock Option Plan (the “Employee Stock Option Plan”) and the Amended and Restated 2004 Directors’ Stock Option Plan (the “Directors’ Stock Option Plan”) (collectively, the “Former Stock Option Plans”). The Employee Stock Option Plan and Director’s Stock Option Plan were terminated in June 2014 and December 2014, respectively. In September 2016, our Board approved the establishment of the 2016 Equity Incentive Plan, which was approved by our shareholders at our 2016 Annual Meeting. The 2016 Equity Incentive Plan provides for the award of up to 1,500,000 Former Stock Option Plans No June 30, 2023, there was no . The following is a summary of stock option activity under the Former Stock Option Plans for the fiscal years ended June 30, 2023 and 2022: Schedule of summary of stock option activity 2023 2022 Number of Shares Weighted-Average Number of Shares Weighted-Average Outstanding at July 1, 6,500 $ 1.82 31,500 $ 1.81 Options granted — — — — Options exercised (6,500 ) 1.82 (25,000 ) 1.80 Options forfeited — — — — Outstanding at end of period — $ — 6,500 $ 1.82 Stock Options Exercisable at — $ — 6,500 $ 1.82 Performance Awards In December 2017, the Compensation Committee of our Board of Directors granted 200,000 completion of service periods that range from 7 months to 9.5 years at inception and the achievement of our common stock trading at certain pre-determined prices 4.46 48,000 16.90 17,500 20.34 106,000 194,000 98,000 2.0 On July 1, 2022, it was determined by the Compensation Committee of our Board of Directors that the vesting of performance awards for 37,500 23,641 223,000 The following is a summary of performance awards activity for the fiscal years ended June 30, 2023 and 2022: Schedule of summary of stock option activity 2023 2022 Number of Shares Weighted-Average Number of Shares Weighted-Average Outstanding at July 1, 117,500 $ 8.52 105,000 $ 6.95 Granted — — 17,500 20.34 Vested (37,500 ) 7.84 — — Forfeited (15,200 ) 16.54 (5,000 ) 16.90 Outstanding at end of period 64,800 $ 7.03 117,500 $ 8.52 Non-Qualified Stock Options In December 2020, the Compensation Committee of our Board of Directors granted 310,000 completion of service periods that range from 18 months to 10.5 years at inception and the achievement of our common stock trading at certain pre-determined prices 647,000 1,070,000 16.72 2.4 In February 2021, the Compensation Committee of our Board of Directors granted 62,000 completion of service periods that ranged from 4 months to 1.3 years at inception and the achievement of our common stock trading at certain pre-determined prices 62,000 182,000 3.16 5,000 The following is a summary of non-qualified stock option activity under the 2016 Equity Incentive Plan for the fiscal year ended June 30, 2023 and 2022: Schedule of summary of stock option activity 2023 2022 Number of Shares Weighted-Average Number of Shares Weighted-Average Outstanding at July 1, 346,500 $ 41.83 346,500 $ 41.83 Options granted — — 5,000 44.70 Options exercised — — — — Options forfeited (47,563 ) 39.60 (5,000 ) 44.70 Outstanding at end of period 298,937 $ 42.19 346,500 $ 41.83 Stock Options Exercisable at 57,750 $ 27.50 57,750 $ 27.50 Employee Stock Purchase Plan In September 2014, our Board approved the establishment of an Employee Stock Purchase Plan (the “ESPP”). The ESPP conforms to the provisions of Section 423 of the Internal Revenue Code, has coterminous offering and purchase periods of six months, and bases the pricing at which participant’s purchase shares of our common stock on a formula so as to result in a per share purchase price that approximates a 15% discount from the market price of a share of our common stock at the end of the purchase period 704,715 704,715 During the fiscal years ended June 30, 2023 and 2022, shares totaling 5,459 2,576 14.21 23.33 14,000 11,000

MAJOR CUSTOMERS & SUPPLIERS

MAJOR CUSTOMERS & SUPPLIERS	12 Months Ended
	Jun. 30, 2023
Risks and Uncertainties [Abstract]
MAJOR CUSTOMERS & SUPPLIERS	12. MAJOR CUSTOMERS & SUPPLIERS Customers accounted for more than 10% of our total sales either of 2023 or 2022, is as follows (in thousands, except percentages): Schedule of sales by major customers Years Ended June 30, 2023 2022 Amount Percent of Total Amount Percent of Total Net sales $ 46,087 100 % $ 42,041 100 % Customer concentration: Customer 1 $ 30,892 67 % $ 27,686 66 % Customer 2 7,583 16 % 5,788 14 % Total $ 38,475 83 % $ 33,474 80 % Information with respect to accounts receivable from those customers who comprised more than 10% of our gross accounts receivable at either June 30, 2023 or June 30, 2022 is as follows (in thousands, except percentages): Schedule of accounts receivable, inventory purchases and accounts payable of major customers and suppliers June 30, 2023 June 30, 2022 Total gross accounts receivable $ 9,952 100 % $ 15,384 100 % Customer concentration: Customer 1 $ 7,231 73 % $ 11,551 75 % Customer 2 1,951 19 % 2,152 14 % Total. $ 9,182 92 % $ 13,703 89 % During fiscal 2023 and 2022, we had four suppliers that accounted for more than 10% of total inventory purchases, as follows (in thousands, except percentages): June 30, 2023 June 30, 2022 Total inventory purchases $ 19,835 100 % $ 19,640 100 % Supplier concentration: Supplier 1 $ 4,595 23 % $ 2,735 14 % Supplier 2 2,406 12 % 2,335 12 % Supplier 3 2,135 11 % 2,199 11 % Supplier 4 2,059 10 % 2,587 13 % Total. $ 11,195 56 % $ 9,856 50 % Information with respect to accounts payable due to those suppliers who comprised more than 10% of our accounts payable at either June 30, 2023 or June 30, 2022 is as follows (in thousands, except percentages): June 30, 2023 June 30, 2022 Total accounts payable $ 2,261 100 % $ 3,761 100 % Supplier concentration: Supplier 1 $ 620 27 % $ 721 19 % Supplier 4 — — 430 11 % Supplier 2 41 2 % 372 10 % Total. $ 661 29 % $ 1,523 40 %

NET INCOME PER SHARE

NET INCOME PER SHARE	12 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
NET INCOME PER SHARE	13. NET INCOME PER SHARE We calculate basic earnings per share by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the effects of potentially dilutive securities. The summary of the basic and diluted earnings per share calculations for the years ended June 30, 2023 and 2022 is as follows (in thousands, except per share data): Schedule of net income per share Years Ended June 30, 2023 2022 Basic: (Restated) Net income $ 7,074 $ 4,572 Weighted-average shares outstanding 3,571 3,636 Basic earnings per share $ 1.98 $ 1.26 Diluted: Net income $ 7,074 $ 4,572 Weighted-average shares outstanding 3,571 3,636 Effect of dilutive securities – stock options & performance awards 66 127 Weighted-average shares used in calculation of diluted earnings per share 3,637 3,763 Diluted earnings per share $ 1.95 $ 1.21

COMMON STOCK _ Share Repurchase

COMMON STOCK – Share Repurchase Program	12 Months Ended
	Jun. 30, 2023
Equity [Abstract]
COMMON STOCK – Share Repurchase Program	14. COMMON STOCK – Share Repurchase Program In December 2019, our Board approved a new share repurchase program authorizing us to repurchase up to one million shares of our common stock, as the prior repurchase plan authorized by our Board in 2013 was nearing completion. In accordance with, and as part of, these shares repurchase programs, our Board approved the adoption of several prearranged share repurchase plans intended to qualify for the safe harbor provided by Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (“10b5-1 Plan” or “Plan”). During the fiscal year ended June 30, 2023, we repurchased 86,422 1.5 75,250 1.6 1,197,168 17.2

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS On October 6, 2023, in conjunction with the execution of a supply agreement, we exercised our Monogram Warrant in full in cash totaling $ 1,250,000 1,828,551 2.67

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Net Sales	Net Sales Net sales consists of the sale of products and services, as well as shipping and handling costs billed to our customers and is net of volume rebates and discounts and excludes sales tax.
Revenue Recognition	Revenue Recognition Revenue from product sales is recognized as promulgated by the Financial Accounting Standards Board (“FASB”) in Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Revenue from services, typically non-recurring engineering services related to the design or customization of a medical device, is typically recognized over time. The customer funding for costs incurred for non-recurring engineering services is deferred and subsequently recognized as revenue as under-lying products or services are delivered to the customers. Additionally, expenses incurred, up to the customer agreed funding amount, are deferred as an asset and recognized as cost of sales when the under-lying products or services are delivered to the customer. The deferred customer funding and costs result in recognition of deferred costs (asset) and deferred revenue (liability) on our consolidated balance sheets. One of our customer contracts can give rise to variable consideration due to volume rebates. We estimate variable consideration at the most likely amount we will receive from our customer. Our estimates of variable consideration are based on an assessment of our anticipated performance and all information (historical, current, and forecasted) that is reasonably available to us. Returns of our product for credit are minimal; accordingly, we do not establish a reserve for product returns at the time of sale.
Cost of Sales	Cost of Sales Cost of sales consists primarily of the purchase price of goods and cost of services rendered including freight costs. Cost of sales also includes production labor and overhead costs for all of our manufacturing and assembly operations, which overhead includes all indirect labor and expenses associated with our inspection, warehousing, material planning and quality departments.
Estimated Losses on Product Development Services	Estimated Losses on Product Development Services Cost and revenue estimates related to the product development service portions of development and supply contracts are reviewed and updated quarterly. An expected loss on development service contracts is recognized immediately in cost of sales. Losses recorded in fiscal 2023 and 2022 related to these services totaled $ 108,000 0 Owing to the complexity of many of the contracts we have undertaken, the cost estimation process requires significant judgment. It is based upon the knowledge and experience of our project managers, engineers, and finance professionals. Factors that are considered in estimating the cost of work to be completed and ultimate profitability of the fixed price product development portion of development and supply contracts include the nature and complexity of the work to be performed, availability and productivity of labor, the effect of change orders, the availability of materials, performance of subcontractors, and expected costs for specific regulatory approvals.
Warranties	Warranties Certain of our products are sold with a warranty that provides for repairs or replacement of any defective parts for a period, generally one to two years, after the sale. At the time of the sale, we accrue an estimate of the cost of providing the warranty based on prior experience with such factors as return rates and repair costs, which factors are reviewed quarterly. The warranty accrual is based on historical costs of warranty repairs and expected future identifiable warranty expenses and is included in accrued expenses in the accompanying balance sheets. Warranty expenses are included in cost of sales in the accompanying statements of operations. Changes in estimates to previously established warranty accruals result from current period updates to assumptions regarding repair costs and warranty return rates and are included in current period warranty expense.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of ninety days or less to be cash equivalents. At June 30, 2023 and 2022, cash equivalents consisted of investments in money market funds.
Accounts Receivable	Accounts Receivable Trade receivables are stated at their original invoice amounts, less an allowance for doubtful portions of such accounts. Management determines the allowance for doubtful accounts based on facts and circumstances related to specific accounts and the age of accounts. Trade receivables are written off when deemed uncollectible. Recoveries of trade receivables previously reserved are offset against the allowance when received.
Deferred Costs	Deferred Costs Deferred costs reflect costs incurred related to non-recurring engineering services under the terms of the related development and/or supply contracts. These costs get recorded to cost of sales in the period that the revenue is recognized.
Inventories	Inventories Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value. Cost includes materials, labor, and manufacturing overhead related to the purchase and production of inventories. Reductions to estimated market value are recorded and charged to cost of sales, when indicated based on a formula that compares on-hand quantities to both historical usage and estimated demand over the ensuing 12 months from the measurement date. On an ongoing basis, we evaluate inventory for obsolescence and slow-moving items. This evaluation includes analysis of historical sales and usage, existing demand, as well as specific factors known to management. As of June 30, 2023 and 2022, there was approximately $ 637,000 177,000
Investments	Investments Investments at June 30, 2023 and 2022, consist of marketable equity securities of publicly held companies as well as a warrant to purchase common stock of a company whose common stock first became publicly traded in May 2023. The investments were made to realize a reasonable return, although there is no assurance that positive returns will be realized. Investments are marked to market at each measurement date, with unrealized gains and losses presented separately within other income and expense on the consolidated income statement. Certain investments consist of common stocks of public companies that are thinly traded. These investments were subject to a valuation analysis as of June 30, 2023 and 2022.
Long-lived Assets	Long-lived Assets We review the recoverability of long-lived assets, consisting of the land and building that we own, equipment, and improvements, including leasehold improvements, when events or changes in circumstances occur that indicate carrying values may not be recoverable. Our building, equipment and improvements are recorded at historical cost and depreciation is provided using the straight-line method over the following periods: Schedule of building, equipment and improvements Building Thirty years Equipment Three to ten years Improvements Shorter of the remaining life of the underlying building, lease term, or the asset’s estimated useful life
Intangibles	Intangibles Intangibles consist legal fees incurred connection with patent applications. Our patent costs are being amortized over a period of four to seven years. The expense associated with the amortization of the patent costs is recognized in research and development costs.
Income Taxes	Income Taxes We recognize deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of our assets and liabilities along with net operating losses and tax credit carryovers. Net deferred tax assets or liabilities at both June 30, 2023 and 2022 consisted primarily of basis differences related to unrealized gain/loss related to investments, stock-based compensation, fixed assets, accrued expenses, and inventories. Our fiscal 2023 deferred tax assets also includes capitalization of our research expenditures as prescribed by the Tax Cuts and Jobs Act. Significant management judgment is required in determining the provision for income taxes, the recoverability of deferred tax assets, and the extinguishment of deferred tax liabilities. Such determination is based on historical taxable income, with consideration given to estimates of future taxable income and the periods over which deferred tax assets will be recoverable and deferred tax liabilities will be extinguished. We record a valuation allowance against deferred tax assets to reduce the net carrying value to an amount that we believe is more likely than not to be realized. When we establish or reduce the valuation allowance against deferred tax assets, the provision for income taxes will increase or decrease, respectively, in the period such determination is made.
Uncertain Tax Positions	Uncertain Tax Positions We record uncertain tax positions in accordance with Accounting Standards Codification (“ASC”) 740 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position, and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.
Shipping and Handling	Shipping and Handling Payments from customers for shipping and handling are included in net sales .
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject us to credit risk consist principally of cash, cash equivalents, and trade receivables. We place our cash and cash equivalents with major financial institutions. At June 30, 2023 and 2022, and throughout the fiscal years then ended, we had deposits in excess of federally insured limits. Credit sales are made to medical device distributors, original equipment manufacturers, and resellers throughout the world, and sales to such customers account for a substantial portion of our trade receivables. While such receivables are not collateralized, we evaluate their collectability based on several factors including customers’ payment histories.
Compensation Plans	Compensation Plans We recognize compensation expense for the share-based awards that vest subject to market conditions under ASC 718, Compensation-Stock Compensation
Use of Estimates	Use of Estimates The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our operations are affected by numerous factors including market acceptance of our products, supply chain disruptions, changes in technologies, and new laws, effects from the COVID-19 pandemic, government regulations, and policies. We cannot predict what impact, if any, the occurrence of these or other events might have on our operations. Significant estimates and assumptions made by management include, but are not limited to, revenue recognition, share-based compensation, the allowance for doubtful accounts, accrued warranty expense, investments, inventory valuation, the carrying value of long-lived assets, and the recoverability/extinguishment of deferred income tax assets and liabilities.
Basic and Diluted Per Share Information	Basic and Diluted Per Share Information Basic per share amounts are computed on the basis of the weighted-average number of common shares outstanding during each period presented. Diluted per share amounts assume the issuance of all potential common stock equivalents, consisting of outstanding stock options and performance awards as discussed in Note 13, unless the effect of such exercise is to increase income, or decrease loss, per common share.
Fair Value Measurements	Fair Value Measurements Fair value is measured based on the prices that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based on a three-tier hierarchy that prioritizes the inputs used to measure fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. Cash and cash equivalents: Investments: Although the methods above may produce a fair value calculation that may not be indicative of the net realizable value or reflective of future fair values, we believe our valuation methods are appropriate.
Advertising	Advertising Advertising costs are charged to selling or general and administrative expense as incurred and amounted to $ 4,000 1,000
Recently Issued and Not Yet Adopted Accounting Standards	Recently Issued and Not Yet Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments—Credit Losses (Topic 326). ASU 2016-13 revises the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in more timely recognition of losses on financial instruments, including, but not limited to, available for sale debt securities and accounts receivable. The guidance is effective for the Company’s annual reporting period beginning after December 15, 2022 and interim reporting periods within that annual reporting period. The Company does not expect the adoption of this ASU to have a material impact on the consolidated financial statements.

RESTATEMENT OF PREVIOUSLY ISS_2

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Jun. 30, 2023
Restatement Of Previously Issued Financial Statements
Schedule of changes to each financial statement line item which changed as a result of restatement	Schedule of changes to each financial statement line item which changed as a result of restatement As Previously Reported Restatement As Restated Deferred income taxes, net $ 797 $ (541 ) (a) $ 256 Investments 1,779 2,304 (b) 4,083 Total assets 47,326 1,763 49,089 Retained earnings 15,986 1,763 17,749 Total liabilities and shareholders’ equity 47,326 1,763 49,089 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at June 30, 2022. Fiscal 2022 Income Statement As Previously Reported Restatement As Restated Unrealized gain (loss) on investments $ (57 ) $ 988 (a) $ 931 Total other income (loss) (417 ) 988 571 Income before income taxes 4,706 988 5,694 Income tax expense 851 271 (b) 1,122 Net income 3,855 717 4,572 Basic income per share $ 1.06 $ 0.20 $ 1.26 Diluted income per share $ 1.02 $ 0.19 $ 1.21 (a) This amount represents the unrealized gain on the Monogram Warrant for the fiscal year 2022. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the fiscal year 2022. Fiscal 2021 Income Statement As Previously Reported Restatement As Restated Unrealized gain on investments $ 1,371 $ 619 (a) $ 1,990 Total other income 2,472 619 3,091 Income before income taxes 6,997 619 7,616 Income tax expense 1,176 270 (b) 1,446 Net income 5,821 349 6,170 Basic income per share $ 1.53 $ 0.10 $ 1.63 Diluted income per share $ 1.48 $ 0.09 $ 1.57 (a) This amount represents the unrealized gain on the Monogram Warrant for the fiscal year 2021. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the fiscal year 2021. Fiscal 2023 Unaudited Quarterly Periods September 30, 2022 December 31, 2022 March 31, 2023 Net income, as previously reported $ 1,076 $ 879 $ 1,313 Adjustments to net income: Unrealized gain on investments (a) 175 2,582 419 Income tax expense (b) 48 709 115 Net income, as restated $ 1,203 $ 2,752 $ 1,617 Basic & Diluted income per share as previously reported: Basic net income per share $ 0.30 $ 0.25 $ 0.37 Diluted net income per share $ 0.29 $ 0.24 $ 0.36 Basic & Diluted income per share as restated: Basic net income per share $ 0.33 $ 0.80 $ 0.46 Diluted net income per share $ 0.33 $ 0.79 $ 0.45 Weighted-average common shares outstanding: Basic 3,616,000 3,574,000 3,548,000 Diluted 3,695,000 3,652,000 3,623,000 (a) This amount represents the unrealized gain on the Monogram Warrant. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant. Fiscal 2022 Unaudited Quarterly Periods September 30, 2021 December 31, 2021 March 31, 2022 June 30, 2022 Net income as previously reported $ 1,064 $ 925 $ 462 $ 1,405 Adjustments to net income: Unrealized gain on investments (a) 22 216 155 595 Income tax expense (b) 6 59 43 163 Net income as restated $ 1,080 1,082 $ 574 1,837 Basic & Diluted income per share as previously reported Basic net income per share $ 0.29 $ 0.25 $ 0.13 $ 0.39 Diluted net income per share $ 0.28 $ 0.25 $ 0.12 $ 0.38 Basic & Diluted income per share as restated Basic net income per share $ 0.30 $ 0.30 $ 0.16 $ 0.51 Diluted net income per share $ 0.29 $ 0.29 $ 0.15 $ 0.49 Weighted-average common shares outstanding: Basic 3,651,000 3,657,000 3,626,000 3,609,000 Diluted 3,777,000 3,767,000 3,749,000 3,731,000 (a) This amount represents the unrealized gain on the Monogram Warrant. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant. Fiscal 2021 Unaudited Quarterly Periods September 30, 2020 December 31, 2020 March 31, 2021 June 30, 2021 Net income as previously reported $ 1,158 $ 1,750 $ 2,131 $ 782 Adjustments to net income: Unrealized loss on investments (a) (59 ) 51 42 585 Income tax (benefit) expense (b) (16 ) 14 12 260 Net income as restated $ 1,115 1,787 $ 2,161 1,107 Basic & Diluted income per share as previously reported Basic net income per share $ 0.30 $ 0.45 $ 0.56 $ 0.23 Diluted net income per share $ 0.29 $ 0.44 $ 0.54 $ 0.22 Basic & Diluted income per share as restated Basic net income per share $ 0.29 $ 0.46 $ 0.57 $ 0.29 Diluted net income per share $ 0.28 $ 0.45 $ 0.54 $ 0.28 Weighted-average common shares outstanding: Basic 3,851,000 3,861,000 3,817,000 3,656,000 Diluted 3,975,000 4,012,000 3,966,000 3,796,000 (a) This amount represents the unrealized gain on the Monogram Warrant. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant. September 30, 2020 Unaudited Balance Sheet (First Quarter Fiscal 2021) As Previously Reported Restatement As Restated Deferred income taxes, net $ 259 $ 16 (a) $ 275 Investments 2,309 638 (b) 2,947 Total assets 30,797 654 31,451 Retained earnings 7,468 654 8,122 Total liabilities and shareholders’ equity 30,797 654 31,451 (a) This amount represents the income tax benefit associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at September 30, 2020. First Quarter Fiscal 2021 Unaudited Income Statement – Three months ended September 30, 2020 As Previously Reported Restatement As Restated Unrealized gain (loss) on investments $ (107 ) $ (59 ) (a) $ (166 ) Total other income (expense) (108 ) (59 ) (167 ) Income before income taxes 1,441 (59 ) 1,382 Income tax expense 283 (16 ) (b) 267 Net income 1,158 (43 ) 1,115 Basic income per share $ 0.30 $ (0.01 ) $ 0.29 Diluted income per share $ 0.29 $ (0.01 ) $ 0.28 (a) This amount represents the unrealized loss on the Monogram Warrant for the three months ended September 30, 2020. (b) This amount represents the income tax benefit related to the unrealized loss on the Monogram Warrant for the three months ended September 30, 2020. December 31, 2020 Unaudited Balance Sheet (Second Quarter Fiscal 2021) As Previously Reported Restatement As Restated Deferred income taxes, net $ 259 $ 2 (a) $ 261 Investments 3,238 689 (b) 3,927 Total assets 38,372 691 39,063 Retained earnings 9,218 691 9,909 Total liabilities and shareholders’ equity 38,372 691 39,063 (a) This amount represents the income tax benefit associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at December 31, 2020. Three months ended December 31, 2020 Unaudited Income Statement (Second Quarter Fiscal 2021) As Previously Reported Restatement As Restated Unrealized gain (loss) on investments $ 1,413 $ 51 (a) $ 1,464 Total other income (expense) 1,358 51 1,409 Income before income taxes 1,879 51 1,930 Income tax expense 129 14 (b) 143 Net income 1,750 37 1,787 Basic income per share $ 0.45 $ 0.01 $ 0.46 Diluted income per share $ 0.44 $ 0.01 $ 0.45 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended December 31, 2020. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended December 31, 2020. March 31, 2021 Unaudited Balance Sheet (Third Quarter Fiscal 2021) As Previously Reported Restatement As Restated Deferred income taxes, net $ 259 $ (9 ) (a) $ 250 Investments 3,026 731 (b) 3,757 Total assets 42,315 722 43,037 Retained earnings 11,349 722 12,071 Total liabilities and shareholders’ equity 42,315 722 43,037 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at March 31, 2021. Three months ended March 31, 2021 Unaudited Income Statement (Third Quarter Fiscal 2021) As Previously Reported Restatement As Restated Unrealized gain (loss) on investments $ 136 $ 42 (a) $ 178 Total other income (expense) 858 42 900 Income before income taxes 2,723 42 2,765 Income tax expense 592 12 (b) 604 Net income 2,131 30 2,161 Basic income per share $ 0.56 $ 0.01 $ 0.57 Diluted income per share $ 0.54 $ 0.01 $ 0.54 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended March 31, 2021. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended March 31, 2021. September 30, 2021 Unaudited Balance Sheet (First Quarter Fiscal 2022) As Previously Reported Restatement As Restated Deferred income taxes, net $ 463 $ (276 ) (a) $ 187 Investments 1,656 1,338 (b) 2,994 Total assets 41,865 1,062 42,927 Retained earnings 13,195 1,062 14,257 Total liabilities and shareholders’ equity 41,865 1,062 42,927 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at September 30, 2021. First Quarter Fiscal 2022 Unaudited Income Statement – Three months ended September 30, 2021 As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ 149 $ 22 (a) $ 171 Total other income (expense) 53 22 75 Income before income taxes 1,371 22 1,393 Income tax expense 307 6 (b) 313 Net income 1,064 16 1,080 Basic income per share $ 0.29 $ 0.01 $ 0.30 Diluted income per share $ 0.28 $ 0.01 $ 0.29 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended September 30, 2021. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended September 30, 2021. December 31, 2021 Unaudited Balance Sheet (Second Quarter Fiscal 2022) As Previously Reported Restatement As Restated Deferred income taxes, net $ 463 $ (335 ) (a) $ 128 Investments 1,940 1,554 (b) 3,494 Total assets 42,114 1,219 43,333 Retained earnings 14,119 1,219 15,338 Total liabilities and shareholders’ equity 42,114 1,219 43,333 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at December 31, 2021. Three months ended December 31, 2021 Unaudited Income Statement (Second Quarter Fiscal 2022) As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ (300 ) $ 216 (a) $ (84 ) Total other income (expense) (392 ) 216 (176 ) Income before income taxes 1,210 216 1,426 Income tax expense 285 59 (b) 344 Net income 925 157 1,082 Basic income per share $ 0.25 $ 0.05 $ 0.30 Diluted income per share $ 0.25 $ 0.04 $ 0.29 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended December 31, 2021. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended December 31, 2021. March 31, 2022 Unaudited Balance Sheet (Third Quarter Fiscal 2022) As Previously Reported Restatement As Restated Deferred income taxes, net $ 463 $ (378 ) (a) $ 85 Investments 1,778 1,709 (b) 3,487 Total assets 43,884 1,331 45,215 Retained earnings 14,581 1,331 15,912 Total liabilities and shareholders’ equity 43,884 1,331 45,215 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at March 31, 2022. Three months ended March 31, 2022 Unaudited Income Statement (Third Quarter Fiscal 2022) As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ (275 ) $ 155 (a) $ (120 ) Total other income (expense) (387 ) 155 (232 ) Income before income taxes 634 155 789 Income tax expense 172 43 (b) 215 Net income 462 112 574 Basic income per share $ 0.13 $ 0.03 $ 0.16 Diluted income per share $ 0.12 $ 0.03 $ 0.15 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended March, 31, 2022. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended March 31, 2022. September 30, 2022 Unaudited Balance Sheet (First Quarter Fiscal 2023) As Previously Reported Restatement As Restated Deferred income taxes, net $ 764 $ (589 ) (a) $ 175 Investments 1,889 2,479 (b) 4,368 Total assets 47,965 1,890 49,855 Retained earnings 17,062 1,890 18,952 Total liabilities and shareholders’ equity 47,965 1,890 49,855 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at September 30, 2022. First Quarter Fiscal 2023 Unaudited Income Statement – Three months ended September 30, 2022 As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ 250 $ 175 (a) $ 425 Total other income (expense) 344 175 519 Income before income taxes 1,294 175 1,469 Income tax expense 218 48 (b) 266 Net income 1,076 127 1,203 Basic income per share $ 0.30 $ 0.03 $ 0.33 Diluted income per share $ 0.29 $ 0.04 $ 0.33 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended September 30, 2022. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended September 30, 2022. December 31, 2022 Unaudited Balance Sheet (Second Quarter Fiscal 2023) As Previously Reported Restatement As Restated Deferred income taxes, net $ 764 $ (764 ) (a) $ — Investments 1,726 5,061 (b) 6,787 Total assets 47,579 4,297 51,876 Deferred income taxes — 534 534 Total liabilities 23,105 534 23,639 Retained earnings 17,941 3,763 21,704 Total liabilities and shareholders’ equity 47,579 4,297 51,876 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at December 31, 2022. Three months ended December 31, 2022 Unaudited Income Statement (Second Quarter Fiscal 2023) As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ 158 $ 2,582 (a) $ 2,740 Total other income (expense) 37 2,582 2,619 Income before income taxes 1,174 2,582 3,756 Income tax expense 295 709 (b) 1,004 Net income 879 1,873 2,752 Basic income per share $ 0.25 $ 0.55 $ 0.80 Diluted income per share $ 0.24 $ 0.55 $ 0.79 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended December 31, 2022. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended December 31, 2022. March 31, 2023 Unaudited Balance Sheet (Third Quarter Fiscal 2023) As Previously Reported Restatement As Restated Deferred income taxes, net $ 764 $ (764 ) (a) $ — Investments 1,534 5,480 (b) 7,014 Total assets 46,975 4,716 51,691 Deferred income taxes — 649 649 Total liabilities 21,136 649 21,785 Retained earnings 19,254 4,067 23,321 Total liabilities and shareholders’ equity 46,975 4,716 51,691 (a) This amount represents the income tax expense associated with the Monogram Warrant. (b) This amount represents the estimated fair value of the Monogram Warrant at March 31, 2023. Three months ended March 31, 2023 Unaudited Income Statement (Third Quarter Fiscal 2023) As Previously Reported Restatement As Restated Unrealized gain(loss) on investments $ (177 ) $ 419 (a) $ 242 Total other income (expense) (297 ) 419 122 Income before income taxes 1,768 419 2,187 Income tax expense 455 115 (b) 570 Net income 1,313 304 1,617 Basic income per share $ 0.37 $ 0.09 $ 0.46 Diluted income per share $ 0.36 $ 0.09 $ 0.45 (a) This amount represents the unrealized gain on the Monogram Warrant for the three months ended March 31, 2023. (b) This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended March 31, 2023.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of building, equipment and improvements	Schedule of building, equipment and improvements Building Thirty years Equipment Three to ten years Improvements Shorter of the remaining life of the underlying building, lease term, or the asset’s estimated useful life

NET SALES (Tables)

NET SALES (Tables)	12 Months Ended
	Jun. 30, 2023
Net Sales
Schedule of disaggregation of net sales	Schedule of disaggregation of net sales Year ended June 30, 2023 2022 Net Sales: Over-time revenue recognition $ 2,695 $ 1,014 Point-in-time revenue recognition 43,392 41,027 Total net sales $ 46,087 $ 42,041
Schedule of contract assets and liability	Schedule of contract assets and liability June 30, 2023 2022 Contract assets at beginning of year $ 710 $ 193 Expenses incurred during the year 1,545 1,319 Amounts reclassified to cost of sales (1,710 ) (774 ) Amounts allocated to discounts for standalone selling price (51 ) (28 ) Contract assets at end of year $ 494 $ 710 June 30, 2023 2022 Contract liabilities at beginning of year $ 1,013 $ 150 Payments received from customers 781 1,482 Amounts reclassified to revenue (1,794 ) (619 ) Contract liabilities at end of year $ — $ 1,013

COMPOSITION OF CERTAIN FINANC_2

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Tables)	12 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of investments	Schedule of investments Years Ended June 30, 2023 2022 Current: (Restated) Marketable equity securities – short-term $ 1,134 $ 755 Long-term: Warrant 6,160 2,304 Marketable equity securities – long-term 1,361 1,779 Total Investments $ 8,655 $ 4,838
Schedule of assumptions used	Schedule of assumptions used June 30, June 30, Stock Price (common) $ 3.98 $ 3.02 Strike Price (common) $ .69 $ 1.60 Time until expiration (years) 2.48 3.48 Volatility 60.0 % 60.0 % Risk-free interest rate 4.68 % 3.00 %
Schedule of inventory	Schedule of inventory June 30, 2023 2022 Raw materials /purchased components $ 8,824 $ 6,323 Work in process 3,686 3,463 Sub-assemblies /finished components 2,387 2,118 Finished goods 1,270 774 Total inventory $ 16,167 $ 12,678
Schedule of land and building	Schedule of land and building June 30, June 30, Land $ 3,684 $ 3,684 Building 2,815 2,815 Total 6,499 6,499 Less: accumulated depreciation (250 ) (156 ) $ 6,249 $ 6,343
Schedule of equipment and improvements	Schedule of equipment and improvements June 30, 2023 2022 Office furnishings and fixtures $ 1,957 $ 2,224 Machinery and equipment 6,675 6,661 Automobiles 21 21 Improvements 4,737 4,271 Total 13,390 13,177 Less: accumulated depreciation and amortization (8,311 ) (8,344 ) $ 5,079 $ 4,833
Schedule of intangibles	Schedule of intangibles June 30, June 30, Patent-related costs $ 208 $ 208 Less accumulated amortization (127 ) (90 ) $ 81 $ 118
Schedule of accrued liabilities	Schedule of accrued liabilities June 30, 2023 2022 Payroll and related items $ 650 $ 509 Accrued inventory in transit 637 177 Accrued legal and professional fees 216 275 Accrued bonuses 400 430 Current portion of lease liability 416 379 Warranty 200 340 Accrued customer rebate 480 517 Other 136 124 Total accrued expenses $ 3,135 $ 2,751

WARRANTY ACCRUAL (Tables)

WARRANTY ACCRUAL (Tables)	12 Months Ended
	Jun. 30, 2023
Guarantees and Product Warranties [Abstract]
Schedule of accrual warranty costs	Schedule of accrual warranty costs June 30, 2023 2022 Balance at beginning of year $ 340 $ 221 Accruals during the year 161 177 Change in estimates of prior period accruals (109 ) 54 Warranty amortization/utilization (192 ) (112 ) Balance at end of year $ 200 $ 340

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of provision for income taxes	Schedule of provision for income taxes Years Ended June 30, 2023 2022 (Restated) Current: Federal $ 1,745 $ 733 State 345 451 Deferred: Federal 6 23 State 258 (85 ) Income tax expense $ 2,354 $ 1,122
Schedule of reconciliation federal statutory income tax rates	Schedule of reconciliation federal statutory income tax rates Years Ended June 30, 2023 2022 (Restated) Amount Percent Pretax Income Amount Percent Pretax Income Income before income taxes $ 9,428 100 % $ 5,694 100 % Computed “expected” income tax expense on income before income taxes $ 1,979 21 % $ 1,183 21 % State tax, net of federal benefit 672 7 % 266 5 % Tax incentives (229 ) (2 %) (205 ) (4 %) Uncertain tax position (119 ) (1 %) (76 ) (1 %) Stock based compensation (114 ) (1 %) — — Other 165 1 % (46 ) (1 %) Income tax expense $ 2,354 25 % $ 1,122 20 %
Schedule of deferred income tax assets and liabilities	Schedule of deferred income tax assets and liabilities June 30, 2023 2022 (Restated) Deferred tax assets: Federal and state NOL carryforward $ 22 $ 22 Research and other credits 65 65 Reserves 122 163 Accruals 267 322 Stock based compensation 814 651 Unrealized losses — 35 Section 174 capitalization 830 — Lease liability 599 713 Inventory 351 514 Deferred state tax 31 — Total gross deferred tax assets $ 3,101 $ 2,485 Less: valuation allowance (91 ) (98 ) Total deferred tax assets 3,010 2,387 Deferred tax liabilities: Property and equipment, principally due to differing depreciation methods $ (767 ) $ (820 ) Right of use asset (546 ) (658 ) Deferred state tax — (77 ) Unrealized gains (1,705 ) (541 ) Other — (35 ) Total gross deferred tax liabilities (3,018 ) (2,131 ) Net deferred tax assets (liabilities) $ (8 ) $ 256
Schedule of accrual unrecognized tax benefits	Schedule of accrual unrecognized tax benefits June 30, 2023 2022 Unrecognized tax benefits: Beginning balance $ 509 $ 550 Additions based on federal tax positions related to the current year 16 33 Additions based on state tax positions related to the current year 19 26 Additions (reductions) for tax positions of prior years (95 ) 9 Reductions due to lapses in statutes of limitation (104 ) (109 ) Ending balance $ 345 $ 509

NOTES PAYABLE AND FINANCING T_2

NOTES PAYABLE AND FINANCING TRANSACTIONS (Tables)	12 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of maturities of term loan for future fiscal years	Schedule of maturities of term loan for future fiscal years Term Loan Fiscal Year: 2024 $ 3,844 2025 1,397 2026 1,451 2027 1,508 2028 908 Thereafter 3,689 Total principal payments $ 12,797

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Jun. 30, 2023
Leases
Schedule of maturities of lease liabilities	Schedule of maturities of lease liabilities Operating Lease Fiscal Year: 2024 $ 519 2025 535 2026 551 2027 567 2028 143 Total lease payments 2,315 Less imputed interest: (261 ) Total $ 2,054

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Jun. 30, 2023
Equity Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Schedule of summary of stock option activity	Schedule of summary of stock option activity 2023 2022 Number of Shares Weighted-Average Number of Shares Weighted-Average Outstanding at July 1, 6,500 $ 1.82 31,500 $ 1.81 Options granted — — — — Options exercised (6,500 ) 1.82 (25,000 ) 1.80 Options forfeited — — — — Outstanding at end of period — $ — 6,500 $ 1.82 Stock Options Exercisable at — $ — 6,500 $ 1.82
Performance Shares [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Schedule of summary of stock option activity	Schedule of summary of stock option activity 2023 2022 Number of Shares Weighted-Average Number of Shares Weighted-Average Outstanding at July 1, 117,500 $ 8.52 105,000 $ 6.95 Granted — — 17,500 20.34 Vested (37,500 ) 7.84 — — Forfeited (15,200 ) 16.54 (5,000 ) 16.90 Outstanding at end of period 64,800 $ 7.03 117,500 $ 8.52
Non Qualified Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Schedule of summary of stock option activity	Schedule of summary of stock option activity 2023 2022 Number of Shares Weighted-Average Number of Shares Weighted-Average Outstanding at July 1, 346,500 $ 41.83 346,500 $ 41.83 Options granted — — 5,000 44.70 Options exercised — — — — Options forfeited (47,563 ) 39.60 (5,000 ) 44.70 Outstanding at end of period 298,937 $ 42.19 346,500 $ 41.83 Stock Options Exercisable at 57,750 $ 27.50 57,750 $ 27.50

MAJOR CUSTOMERS & SUPPLIERS (Ta

MAJOR CUSTOMERS & SUPPLIERS (Tables)	12 Months Ended
	Jun. 30, 2023
Risks and Uncertainties [Abstract]
Schedule of sales by major customers	Schedule of sales by major customers Years Ended June 30, 2023 2022 Amount Percent of Total Amount Percent of Total Net sales $ 46,087 100 % $ 42,041 100 % Customer concentration: Customer 1 $ 30,892 67 % $ 27,686 66 % Customer 2 7,583 16 % 5,788 14 % Total $ 38,475 83 % $ 33,474 80 %
Schedule of accounts receivable, inventory purchases and accounts payable of major customers and suppliers	Schedule of accounts receivable, inventory purchases and accounts payable of major customers and suppliers June 30, 2023 June 30, 2022 Total gross accounts receivable $ 9,952 100 % $ 15,384 100 % Customer concentration: Customer 1 $ 7,231 73 % $ 11,551 75 % Customer 2 1,951 19 % 2,152 14 % Total. $ 9,182 92 % $ 13,703 89 % During fiscal 2023 and 2022, we had four suppliers that accounted for more than 10% of total inventory purchases, as follows (in thousands, except percentages): June 30, 2023 June 30, 2022 Total inventory purchases $ 19,835 100 % $ 19,640 100 % Supplier concentration: Supplier 1 $ 4,595 23 % $ 2,735 14 % Supplier 2 2,406 12 % 2,335 12 % Supplier 3 2,135 11 % 2,199 11 % Supplier 4 2,059 10 % 2,587 13 % Total. $ 11,195 56 % $ 9,856 50 % Information with respect to accounts payable due to those suppliers who comprised more than 10% of our accounts payable at either June 30, 2023 or June 30, 2022 is as follows (in thousands, except percentages): June 30, 2023 June 30, 2022 Total accounts payable $ 2,261 100 % $ 3,761 100 % Supplier concentration: Supplier 1 $ 620 27 % $ 721 19 % Supplier 4 — — 430 11 % Supplier 2 41 2 % 372 10 % Total. $ 661 29 % $ 1,523 40 %

NET INCOME PER SHARE (Tables)

NET INCOME PER SHARE (Tables)	12 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of net income per share	Schedule of net income per share Years Ended June 30, 2023 2022 Basic: (Restated) Net income $ 7,074 $ 4,572 Weighted-average shares outstanding 3,571 3,636 Basic earnings per share $ 1.98 $ 1.26 Diluted: Net income $ 7,074 $ 4,572 Weighted-average shares outstanding 3,571 3,636 Effect of dilutive securities – stock options & performance awards 66 127 Weighted-average shares used in calculation of diluted earnings per share 3,637 3,763 Diluted earnings per share $ 1.95 $ 1.21

RESTATEMENT OF PREVIOUSLY ISS_3

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																						12 Months Ended
	Mar. 31, 2023		Dec. 31, 2022		Sep. 30, 2022		Jun. 30, 2022		Mar. 31, 2022		Dec. 31, 2021		Sep. 30, 2021		Jun. 30, 2021		Mar. 31, 2021		Dec. 31, 2020		Sep. 30, 2020		Jun. 30, 2023		Jun. 30, 2022		Jun. 30, 2021
Deferred income taxes, net					$ 175		$ 256		$ 85		$ 128		$ 187				$ 250		$ 261		$ 275				$ 256
Investments	7,014		6,787		4,368		4,083		3,487		3,494		2,994				3,757		3,927		2,947		$ 7,521		4,083
Total assets	51,691		51,876		49,855		49,089		45,215		43,333		42,927				43,037		39,063		31,451		51,823		49,089
Deferred income taxes	649		534																				8
Total liabilities	21,785		23,639				23,658																20,233		23,658
Retained earnings	23,321		21,704		18,952		17,749		15,912		15,338		14,257				12,071		9,909		8,122		24,823		17,749
Total liabilities and shareholders’ equity	51,691		51,876		49,855		49,089		45,215		43,333		42,927				43,037		39,063		31,451		51,823		49,089
Unrealized gain(loss) on investments	242		2,740		425				(120)		(84)		171				178		1,464		(166)		3,899		931		$ 1,990
Total other income (expense)	122		2,619		519				(232)		(176)		75				900		1,409		(167)		3,666		571		3,091
Income before income taxes	2,187		3,756		1,469				789		1,426		1,393				2,765		1,930		1,382		9,428		5,694		7,616
Income tax expense	570		1,004		266				215		344		313				604		143		267		2,354		1,122		1,446
Net income	$ 1,617		$ 2,752		$ 1,203		$ 1,837		$ 574		$ 1,082		$ 1,080		$ 1,107		$ 2,161		$ 1,787		$ 1,115		$ 7,074		$ 4,572		$ 6,170
Basic income per share	$ 0.46		$ 0.80		$ 0.33		$ 0.51		$ 0.16		$ 0.30		$ 0.30		$ 0.29		$ 0.57		$ 0.46		$ 0.29		$ 1.98		$ 1.26		$ 1.63
Diluted income per share	$ 0.45		$ 0.79		$ 0.33		$ 0.49		$ 0.15		$ 0.29		$ 0.29		$ 0.28		$ 0.54		$ 0.45		$ 0.28		$ 1.95		$ 1.21		$ 1.57
Net income																							$ 533		$ 464		$ 352
Basic	3,548,000,000		3,574,000,000		3,616,000,000		3,609,000,000		3,626,000,000		3,657,000,000		3,651,000,000		3,656,000,000		3,817,000,000		3,861,000,000		3,851,000,000		3,571,044		3,635,894		3,796,516
Diluted	3,623,000,000		3,652,000,000		3,695,000,000		3,731,000,000		3,749,000,000		3,767,000,000		3,777,000,000		3,796,000,000		3,966,000,000		4,012,000,000		3,975,000,000		3,636,944		3,763,345		3,936,194
Previously Reported [Member]
Deferred income taxes, net	$ 764		$ 764		$ 764		$ 797		$ 463		$ 463		$ 463				$ 259		$ 259		$ 259				$ 797
Investments	1,534		1,726		1,889		1,779		1,778		1,940		1,656				3,026		3,238		2,309				1,779
Total assets	46,975		47,579		47,965		47,326		43,884		42,114		41,865				42,315		38,372		30,797				47,326
Deferred income taxes
Total liabilities	21,136		23,105
Retained earnings	19,254		17,941		17,062		15,986		14,581		14,119		13,195				11,349		9,218		7,468				15,986
Total liabilities and shareholders’ equity	46,975		47,579		47,965		47,326		43,884		42,114		41,865				42,315		38,372		30,797				47,326
Unrealized gain(loss) on investments	(177)		158		250				(275)		(300)		149				136		1,413		(107)				(57)		$ 1,371
Total other income (expense)	(297)		37		344				(387)		(392)		53				858		1,358		(108)				(417)		2,472
Income before income taxes	1,768		1,174		1,294				634		1,210		1,371				2,723		1,879		1,441				4,706		6,997
Income tax expense	455		295		218				172		285		307				592		129		283				851		1,176
Net income	$ 1,313		$ 879		$ 1,076		$ 1,405		$ 462		$ 925		$ 1,064		$ 782		$ 2,131		$ 1,750		$ 1,158				$ 3,855		$ 5,821
Basic income per share	$ 0.37		$ 0.25		$ 0.30		$ 0.39		$ 0.13		$ 0.25		$ 0.29		$ 0.23		$ 0.56		$ 0.45		$ 0.30				$ 1.06		$ 1.53
Diluted income per share	$ 0.36		$ 0.24		$ 0.29		$ 0.38		$ 0.12		$ 0.25		$ 0.28		$ 0.22		$ 0.54		$ 0.44		$ 0.29				$ 1.02		$ 1.48
Revision of Prior Period, Adjustment [Member]
Deferred income taxes, net	$ (764)	[1]	$ (764)	[2]	$ (589)	[3]	$ (541)	[4]	$ (378)	[5]	$ (335)	[6]	$ (276)	[7]			$ (9)	[8]	$ 2	[9]	$ 16	[10]			$ (541)	[4]
Investments	5,480	[11]	5,061	[12]	2,479	[13]	2,304		1,709	[14]	1,554	[15]	1,338	[16]			731	[17]	689	[18]	638	[19]	$ 2,304	[20]	2,304
Total assets	4,716		4,297		1,890		1,763		1,331		1,219		1,062				722		691		654				1,763
Deferred income taxes	649		534
Total liabilities	649		534
Retained earnings	4,067		3,763		1,890		1,763		1,331		1,219		1,062				722		691		654				1,763
Total liabilities and shareholders’ equity	4,716		4,297		1,890		1,763		1,331		1,219		1,062				722		691		654				1,763
Unrealized gain(loss) on investments	419	[21],[22]	2,582	[21],[23]	175	[21],[24]	595	[25]	155	[25],[26]	216	[25],[27]	22	[25],[28]	$ 585	[29]	42	[29],[30]	51	[29],[31]	(59)	[29],[32]			988	[33]	$ 619	[34]
Total other income (expense)	419		2,582		175				155		216		22				42		51		(59)				988		619
Income before income taxes	419		2,582		175				155		216		22				42		51		(59)				988		619
Income tax expense	115	[35]	709	[36]	48	[37]			43	[38]	59	[39]	6	[40]			12	[41]	14	[42]	(16)	[43]			271	[44]	270	[45]
Net income	$ 304		$ 1,873		$ 127				$ 112		$ 157		$ 16				$ 30		$ 37		$ (43)				$ 717		$ 349
Basic income per share	$ 0.09		$ 0.55		$ 0.03				$ 0.03		$ 0.05		$ 0.01				$ 0.01		$ 0.01		$ (0.01)				$ 0.20		$ 0.10
Diluted income per share	$ 0.09		$ 0.55		$ 0.04				$ 0.03		$ 0.04		$ 0.01				$ 0.01		$ 0.01		$ (0.01)				$ 0.19		$ 0.09
Net income	$ 115	[46]	$ 709	[46]	$ 48	[46]	$ 163	[47]	$ 43	[47]	$ 59	[47]	$ 6	[47]	$ 260	[48]	$ 12	[48]	$ 14	[48]	$ (16)	[48]
[1]This amount represents the income tax expense associated with the Monogram Warrant.[2]This amount represents the income tax expense associated with the Monogram Warrant.[3]This amount represents the income tax expense associated with the Monogram Warrant.[4]This amount represents the income tax expense associated with the Monogram Warrant.[5]This amount represents the income tax expense associated with the Monogram Warrant.[6]This amount represents the income tax expense associated with the Monogram Warrant.[7]This amount represents the income tax expense associated with the Monogram Warrant.[8]This amount represents the income tax expense associated with the Monogram Warrant.[9]This amount represents the income tax benefit associated with the Monogram Warrant.[10]This amount represents the income tax benefit associated with the Monogram Warrant.[11]This amount represents the estimated fair value of the Monogram Warrant at March 31, 2023.[12]This amount represents the estimated fair value of the Monogram Warrant at December 31, 2022.[13]This amount represents the estimated fair value of the Monogram Warrant at September 30, 2022.[14]This amount represents the estimated fair value of the Monogram Warrant at March 31, 2022.[15]This amount represents the estimated fair value of the Monogram Warrant at December 31, 2021.[16]This amount represents the estimated fair value of the Monogram Warrant at September 30, 2021.[17]This amount represents the estimated fair value of the Monogram Warrant at March 31, 2021.[18]This amount represents the estimated fair value of the Monogram Warrant at December 31, 2020.[19]This amount represents the estimated fair value of the Monogram Warrant at September 30, 2020.[20]This amount represents the estimated fair value of the Monogram Warrant at June 30, 2022.[21]This amount represents the unrealized gain on the Monogram Warrant.[22]This amount represents the unrealized gain on the Monogram Warrant for the three months ended March 31, 2023.[23]This amount represents the unrealized gain on the Monogram Warrant for the three months ended December 31, 2022.[24]This amount represents the unrealized gain on the Monogram Warrant for the three months ended September 30, 2022.[25]This amount represents the unrealized gain on the Monogram Warrant.[26]This amount represents the unrealized gain on the Monogram Warrant for the three months ended March, 31, 2022.[27]This amount represents the unrealized gain on the Monogram Warrant for the three months ended December 31, 2021.[28]This amount represents the unrealized gain on the Monogram Warrant for the three months ended September 30, 2021.[29]This amount represents the unrealized gain on the Monogram Warrant.[30]This amount represents the unrealized gain on the Monogram Warrant for the three months ended March 31, 2021.[31]This amount represents the unrealized gain on the Monogram Warrant for the three months ended December 31, 2020.[32]This amount represents the unrealized loss on the Monogram Warrant for the three months ended September 30, 2020.[33]This amount represents the unrealized gain on the Monogram Warrant for the fiscal year 2022.[34]This amount represents the unrealized gain on the Monogram Warrant for the fiscal year 2021.[35]This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended March 31, 2023.[36]This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended December 31, 2022.[37]This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended September 30, 2022.[38]This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended March 31, 2022.[39]This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended December 31, 2021.[40]This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended September 30, 2021.[41]This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended March 31, 2021.[42]This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the three months ended December 31, 2020.[43]This amount represents the income tax benefit related to the unrealized loss on the Monogram Warrant for the three months ended September 30, 2020.[44]This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the fiscal year 2022.[45]This amount represents the income tax expense related to the unrealized gain on the Monogram Warrant for the fiscal year 2021.

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Jun. 30, 2023
Building [Member]
Property, Plant and Equipment [Line Items]
Description of estimated useful lives	Thirty years
Equipment [Member]
Property, Plant and Equipment [Line Items]
Description of estimated useful lives	Three to ten years
Leaseholds and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Description of estimated useful lives	Shorter of the remaining life of the underlying building, lease term, or the asset’s estimated useful life

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Losses	$ 108,000	$ 0
Inventory in-transit	637,000	177,000
Advertising expense	$ 4,000	$ 1,000

NET SALES (Net sales) (Details)

NET SALES (Net sales) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Net Sales:
Over-time revenue recognition	$ 2,695	$ 1,014
Point-in-time revenue recognition	43,392	41,027
Total net sales	$ 46,087	$ 42,041	$ 38,029

NET SALES (Contract assets and

NET SALES (Contract assets and liability) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Net Sales
Contract assets at beginning of year	$ 710	$ 193
Expenses incurred during the year	1,545	1,319
Amounts reclassified to cost of sales	(1,710)	(774)
Amounts allocated to discounts for standalone selling price	(51)	(28)
Contract assets at end of year	494	710
Contract liabilities at beginning of year	1,013	150
Payments received from customers	781	1,482
Amounts reclassified to revenue	(1,794)	(619)
Contract liabilities at end of year		$ 1,013

NET SALES (Details Narrative)

NET SALES (Details Narrative) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Net Sales
Deferred revenue	$ 1,000,000	$ 98,000

COMPOSITION OF CERTAIN FINANC_3

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Current:
Marketable equity securities – short-term	$ 1,134	$ 755
Long-term:
Warrant	6,160	2,304
Marketable equity securities – long-term	1,361	1,779
Total Investments	$ 8,655	$ 4,838

COMPOSITION OF CERTAIN FINANC_4

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Assumptions) (Details) - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock Price (common)	$ 3.98	$ 3.02
Strike Price (common)	$ 0.69	$ 1.60
Time until expiration (years)	2 years 5 months 23 days	3 years 5 months 23 days
Volatility	60%	60%
Risk-free interest rate	4.68%	3%

COMPOSITION OF CERTAIN FINANC_5

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials /purchased components	$ 8,824	$ 6,323
Work in process	3,686	3,463
Sub-assemblies /finished components	2,387	2,118
Finished goods	1,270	774
Total inventory	$ 16,167	$ 12,678

COMPOSITION OF CERTAIN FINANC_6

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Land and Building) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Line Items]
Land and building, gross	$ 6,499	$ 6,499
Less: accumulated depreciation	(250)	(156)
Land and building, net	6,249	6,343
Land [Member]
Property, Plant and Equipment [Line Items]
Land and building, gross	3,684	3,684
Building [Member]
Property, Plant and Equipment [Line Items]
Land and building, gross	$ 2,815	$ 2,815

COMPOSITION OF CERTAIN FINANC_7

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Schedule of Equipment and improvements ) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Line Items]
Equipment and improvements, gross	$ 13,390	$ 13,177
Less: accumulated depreciation and amortization	(8,311)	(8,344)
Equipment and improvements, net	5,079	4,833
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Equipment and improvements, gross	1,957	2,224
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment and improvements, gross	6,675	6,661
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Equipment and improvements, gross	21	21
Leaseholds and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Equipment and improvements, gross	$ 4,737	$ 4,271

COMPOSITION OF CERTAIN FINANC_8

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Intangible) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Less accumulated amortization	$ (127)	$ (90)
Intangible assets,net	81	118
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangibles	$ 208	$ 208

COMPOSITION OF CERTAIN FINANC_9

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Payroll and related items	$ 650	$ 509
Accrued inventory in transit	637	177
Accrued legal and professional fees	216	275
Accrued bonuses	400	430
Current portion of lease liability	416	379
Warranty	200	340
Accrued customer rebate	480	517
Other	136	124
Total accrued expenses	$ 3,135	$ 2,751

COMPOSITION OF CERTAIN FINAN_10

COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Details Narrative) - USD ($)		12 Months Ended
	Nov. 06, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Available for sale securities amortized costs		$ 2,714,000	$ 2,796,000
Investments included net unrealized losses		219,000	262,000
Gross unrealized losses		286,000	369,000
Gross unrealized gains		67,000	107,000
Marketable equity securities		1,134,000	755,000
Payment of property plant equipment				$ 6,499,000
Depreciation expenses		727,000	616,000
Retired assets		760,000	87,000
Loss on disposal of equipment			35,000
Amortization expense		37,000	16,000
Legal fees			$ 84,000
Future amortization expense		$ 30,000
Franklin [Member]
Payment to acquired property plant equipment	$ 6,500,000
Payment of property plant equipment	1,300,000
Bank financed	$ 5,200,000
Monogram Orthopaedics Inc [Member]
Loan payable							$ 800,000
Impairement on investment						$ 800,000
Warrant issued					$ 1,250,000
Exercisable warrants		1,823,058	783,386
Estimated fair value of warrant		$ 6,160,000	$ 2,304,000

WARRANTY ACCRUAL (Warranty Cost

WARRANTY ACCRUAL (Warranty Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Guarantees and Product Warranties [Abstract]
Balance at beginning of year	$ 340	$ 221
Accruals during the year	161	177
Change in estimates of prior period accruals	(109)	54
Warranty amortization	(192)	(112)
Balance at end of year	$ 200	$ 340

WARRANTY ACCRUAL (Details Narra

WARRANTY ACCRUAL (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Guarantees and Product Warranties [Abstract]
Warranty expenses	$ 52,000	$ 231,000

INCOME TAXES (Provision for inc

INCOME TAXES (Provision for income tax expense) (Details) - USD ($) $ in Thousands	3 Months Ended									12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Current:
Federal										$ 1,745	$ 733
State										345	451
Deferred:
Federal										6	23
State										258	(85)
Income tax expense	$ 570	$ 1,004	$ 266	$ 215	$ 344	$ 313	$ 604	$ 143	$ 267	$ 2,354	$ 1,122	$ 1,446

INCOME TAXES (Effective income

INCOME TAXES (Effective income tax rate on loss from continuing operations) (Details) - USD ($) $ in Thousands	3 Months Ended									12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	$ 2,187	$ 3,756	$ 1,469	$ 789	$ 1,426	$ 1,393	$ 2,765	$ 1,930	$ 1,382	$ 9,428	$ 5,694	$ 7,616
Income before income taxes										100%	100%
Computed "expected" income tax expense on income before income taxes										$ 1,979	$ 1,183
Computed "expected" income tax expense on income before income taxes										21%	21%
State tax, net of federal benefit										$ 672	$ 266
State tax, net of federal benefit										7%	5%
Tax incentives										$ (229)	$ (205)
Tax incentives										(2.00%)	(4.00%)
Uncertain tax position										$ (119)	$ (76)
Uncertain tax position										(1.00%)	(1.00%)
Share based compensation										$ (114)
Share based compensation										(1.00%)
Other										$ 165	$ (46)
Other										1%	(1.00%)
Income tax expense	$ 570	$ 1,004	$ 266	$ 215	$ 344	$ 313	$ 604	$ 143	$ 267	$ 2,354	$ 1,122	$ 1,446
Income tax expense										25%	20%

INCOME TAXES (Deferred tax asse

INCOME TAXES (Deferred tax assets and liabilities for federal and state income taxes) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Deferred tax assets:
Federal and state NOL carryforward	$ 22	$ 22
Research and other credits	65	65
Reserves	122	163
Accruals	267	322
Stock based compensation	814	651
Unrealized losses		35
Section 174 capitalization	830
Lease liability	599	713
Inventory	351	514
Deferred state tax	31
Total gross deferred tax assets	3,101	2,485
Less: valuation allowance	(91)	(98)
Total deferred tax assets	3,010	2,387
Deferred tax liabilities:
Property and equipment, principally due to differing depreciation methods	(767)	(820)
Right of use asset	(546)	(658)
Deferred state tax		(77)
Unrealized gains	(1,705)	(541)
Other		(35)
Total gross deferred tax liabilities	(3,018)	(2,131)
Net deferred tax assets (liabilities)	$ (8)	$ 256

INCOME TAXES (Accrual for unrec

INCOME TAXES (Accrual for unrecognized tax benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Beginning balance	$ 509	$ 550
Additions based on federal tax positions related to the current year	16	33
Additions based on state tax positions related to the current year	19	26
Additions for tax positions of prior years	(95)	9
Reductions due to lapses in statutes of limitation	(104)	(109)
Ending balance	$ 345	$ 509

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	12 Months Ended
	Jun. 30, 2023 USD ($)
Income Tax Disclosure [Abstract]
Increase (Decrease) in deferred tax asset valuation allowance	$ 7,000
Unrecognized tax benefits	345,000
Interest or penalties	$ 45,000

NOTES PAYABLE AND FINANCING T_3

NOTES PAYABLE AND FINANCING TRANSACTIONS (Maturities of Term Loan) (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Fiscal Year:
2024	$ 3,844
2025	1,397
2026	1,451
2027	1,508
2028	908
Thereafter	3,689
Total principal payments	$ 12,797

NOTES PAYABLE AND FINANCING T_4

NOTES PAYABLE AND FINANCING TRANSACTIONS (Details Narrative) - USD ($)				12 Months Ended
	Dec. 29, 2022	Dec. 01, 2020	Nov. 06, 2020	Jun. 30, 2023	Mar. 31, 2021
Debt Instrument [Line Items]
Debt outstanding				$ 12,797,000
Term Loan A [Member] | Minnesota Bank And Trust [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 7,525,000
Periodic payment of principal and interest			$ 97,000
Maturity date			Nov. 01, 2027
Debt outstanding				4,832,000
Interest rate			3.84%
Term Loan B [Member] | Minnesota Bank And Trust [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 1,000,000
Periodic payment of principal and interest			$ 15,000
Maturity date			Nov. 01, 2027
Debt outstanding				719,000
Interest rate			3.84%
Revolving Loan [Member]
Debt Instrument [Line Items]
Unamortized loan origination fees				16,000
Loans amount				2,500,000
Maturity description			the maturity date from November 5, 2023 to December 29, 2024
Revolving Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of credit amount			$ 2,000,000
Revolving Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of credit amount			7,000,000
Revolving Loan [Member] | Minnesota Bank And Trust [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 2,000,000
Interest rate			5%
Term Note A [Member] | Minnesota Bank And Trust [Member]
Debt Instrument [Line Items]
Debt outstanding			$ 3,770,331
Amount borrowed for repurchase of common stock					$ 3,000,000
Term Note B [Member] | Minnesota Bank And Trust [Member]
Debt Instrument [Line Items]
Amount borrowed for property improvements					$ 1,000,000
Supplemental Loan [Member] | Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Maturity date	Dec. 29, 2024
Line of credit amount	$ 3,000,000
Loans amount				0
Minnesota Bank And Trust [Member]
Debt Instrument [Line Items]
Unamortized loan origination fees			$ 59,000
Percentage of late payment fee			5%
Increased percentage of default late payment			3%
Minnesota Bank And Trust [Member] | Property Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 5,200,000
Unamortized loan origination fees			$ 26,037
Interest rate			3.55%
Periodic payment of principal and interest		$ 30,000
Maturity date			Nov. 01, 2030
Balloon payment			$ 3,100,000
Description of prepayment			Any prepayment of the Property Loan (other than monthly scheduled interest and principal payments), is subject to a prepayment fee equal to 4% of the principal amount prepaid for any prepayment made during the first or second year, 3% of the principal amount prepaid for any prepayment made during the third or fourth year, 2% of the principal amount prepaid for any prepayment made during the fifth or sixth year, and 1% of the principal amount prepaid for any prepayment made during the seventh or eighth year.
Debt outstanding				$ 4,746,000

LEASES (Maturity of lease liabi

LEASES (Maturity of lease liability) (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Fiscal Year:
2024	$ 519
2025	535
2026	551
2027	567
2028	143
Total lease payments	2,315
Less imputed interest:	(261)
Total	$ 2,054

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Leases
Operating lease liability current portion	$ 416,000	$ 379,000
Interest rate	5.30%
Cash paid lease liability	$ 504,000	$ 489,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Thousands		7 Months Ended	12 Months Ended
	Dec. 15, 2022	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Rent expense			$ 563,000	$ 559,000
Retirement Savings 401k Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of matching contributions	25%	50%
Percentage of maximum employee contributions	5%	5%
Compensation expense			164,000	72,000
Forfeited match contributions used to reduce match expense			$ 13,000	$ 25,000

SHARE-BASED COMPENSATION (Stock

SHARE-BASED COMPENSATION (Stock Option Activity) (Details) - Equity Option [Member] - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding at beginning of period	6,500	31,500
Outstanding at beginning of period (in dollars per share)	$ 1.82	$ 1.81
Options granted
Options granted (in dollars per share)
Options exercised	(6,500)	(25,000)
Options exercised (in dollars per share)	$ 1.82	$ 1.80
Options forfeited
Options forfeited (in dollars per share)
Outstanding at end of period		6,500
Outstanding at end of period (in dollars per share)		$ 1.82
Stock Options Exercisable at end of period		6,500
Stock Options Exercisable at end of period (in dollars per share)		$ 1.82

SHARE-BASED COMPENSATION (Perfo

SHARE-BASED COMPENSATION (Performance awards activity) (Details) - Performance Shares [Member] - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding at beginning of period	117,500	105,000
Weighted-Average Grant Date Fair Value, Beginning	$ 8.52	$ 6.95
Options granted		17,500
Weighted-Average Grant Date Fair Value, Granted		$ 20.34
Options Vested	(37,500)
Weighted-Average Grant Date Fair Value, Granted, Vested	$ 7.84
Options forfeited	(15,200)	(5,000)
Weighted-Average Grant Date Fair Value, Forfeited	$ 16.54	$ 16.90
Outstanding at end of period	64,800	117,500
Weighted-Average Grant Date Fair Value, Ending	$ 7.03	$ 8.52

SHARE-BASED COMPENSATION (Non-q

SHARE-BASED COMPENSATION (Non-qualified stock option activity) (Details) - Non Qualified Stock Option [Member] - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding at beginning of period	346,500	346,500
Outstanding at beginning of period (in dollars per share)	$ 41.83	$ 41.83
Options granted		5,000
Options granted (in dollars per share)		$ 44.70
Options exercised
Options exercised (in dollars per share)
Options forfeited	(47,563)	(5,000)
Options forfeited (in dollars per share)	$ 39.60	$ 44.70
Outstanding at end of period	298,937	346,500
Outstanding at end of period (in dollars per share)	$ 42.19	$ 41.83
Stock Options Exercisable at end of period	57,750	57,750
Stock Options Exercisable at end of period (in dollars per share)	$ 27.50	$ 27.50

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details Narrative) - USD ($)

1 Months Ended

12 Months Ended

Jul. 02, 2022

Feb. 28, 2021

Dec. 31, 2020

Jul. 02, 2020

Sep. 30, 2014

Dec. 31, 2021

Feb. 28, 2020

Dec. 31, 2017

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2021

Sep. 30, 2016

Feb. 02, 2015

Performance Shares [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Unrecognized compensation cost

$ 98,000

Number of awards granted during period

37,500

200,000

Period for award description

completion of service periods that range from 7 months to 9.5 years at inception and the achievement of our common stock trading at certain pre-determined prices

Weighted average fair value

$ 4.46

Aggregate share-based compensation expense

$ 106,000

$ 194,000

Weighted-average period

2 years

Number of shares issued

23,641

Payroll tax liabilities

$ 223,000

Previously Forfeited Awards [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Number of awards granted during period

17,500

48,000

Weighted average fair value

$ 20.34

$ 16.90

Equity Incentive Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Number of shares available to be awarded

1,500,000

Former Stock Option Plans [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Options granted

0

0

Unrecognized compensation cost

$ 0

Equity Incentive Plan 2016 [Member] | Non Qualified Stock Options [Member] | Directors And Certain Employees [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Unrecognized compensation cost

2,400,000

Number of awards granted during period

62,000

310,000

5,000

Period for award description

completion of service periods that ranged from 4 months to 1.3 years at inception and the achievement of our common stock trading at certain pre-determined prices

completion of service periods that range from 18 months to 10.5 years at inception and the achievement of our common stock trading at certain pre-determined prices

Weighted average fair value

$ 3.16

$ 16.72

Aggregate share-based compensation expense

647,000

$ 1,070,000

$ 182,000

Employee Stock Purchase Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Aggregate share-based compensation expense

$ 14,000

$ 11,000

Description of plan

offering and purchase periods of six months, and bases the pricing at which participant’s purchase shares of our common stock on a formula so as to result in a per share purchase price that approximates a 15% discount from the market price of a share of our common stock at the end of the purchase period

Number of shares reserved for future issuance

704,715

704,715

Number of shares purchased and allocated to employee (in shares)

5,459

2,576

Exercise price (in dollars per share)

$ 14.21

$ 23.33

MAJOR CUSTOMERS & SUPPLIERS (Sa

MAJOR CUSTOMERS & SUPPLIERS (Sales) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Concentration Risk [Line Items]
Total revenue	$ 46,087	$ 42,041	$ 38,029
Sales [Member]
Concentration Risk [Line Items]
Total revenue	$ 46,087	$ 42,041
Percentage of concentrations risk	100%	100%
Sales [Member] | Customer Concentration Risk 1 [Member]
Concentration Risk [Line Items]
Total revenue	$ 30,892	$ 27,686
Percentage of concentrations risk	67%	66%
Sales [Member] | Customer Concentration Risk 2 [Member]
Concentration Risk [Line Items]
Total revenue	$ 7,583	$ 5,788
Percentage of concentrations risk	16%	14%
Sales [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Total revenue	$ 38,475	$ 33,474
Percentage of concentrations risk	83%	80%

MAJOR CUSTOMERS AND SUPPLIERS (

MAJOR CUSTOMERS AND SUPPLIERS (AccountsReceivablePayable) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Concentration Risk [Line Items]
Total accounts payable	$ 2,261	$ 3,761
Accounts Receivable [Member]
Concentration Risk [Line Items]
Total gross accounts receivable	$ 9,952	$ 15,384
Percentage of concentrations risk	100%	100%
Accounts Receivable [Member] | Customer Concentration Risk 1 [Member]
Concentration Risk [Line Items]
Total gross accounts receivable	$ 7,231	$ 11,551
Percentage of concentrations risk	73%	75%
Accounts Receivable [Member] | Customer Concentration Risk 2 [Member]
Concentration Risk [Line Items]
Total gross accounts receivable	$ 1,951	$ 2,152
Percentage of concentrations risk	19%	14%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Total gross accounts receivable	$ 9,182	$ 13,703
Percentage of concentrations risk	92%	89%
Inventory Purchases [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	100%	100%
Total inventory purchases	$ 19,835	$ 19,640
Inventory Purchases [Member] | Supplier Concentration Risk 1 [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	23%	14%
Total inventory purchases	$ 4,595	$ 2,735
Inventory Purchases [Member] | Supplier Concentration Risk 2 [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	12%	12%
Total inventory purchases	$ 2,406	$ 2,335
Inventory Purchases [Member] | Supplier Concentration Risk 3 [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	11%	11%
Total inventory purchases	$ 2,135	$ 2,199
Inventory Purchases [Member] | Supplier Concentration Risk 4 [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	10%	13%
Total inventory purchases	$ 2,059	$ 2,587
Inventory Purchases [Member] | Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	56%	50%
Total inventory purchases	$ 11,195	$ 9,856
Accounts Payable [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	100%	100%
Total accounts payable	$ 2,261	$ 3,761
Accounts Payable [Member] | Supplier Concentration Risk 1 [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	27%	19%
Total accounts payable	$ 620	$ 721
Accounts Payable [Member] | Supplier Concentration Risk 2 [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	2%	10%
Total accounts payable	$ 41	$ 372
Accounts Payable [Member] | Supplier Concentration Risk 4 [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk		11%
Total accounts payable		$ 430
Accounts Payable [Member] | Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	29%	40%
Total accounts payable	$ 661	$ 1,523

NET INCOME PER SHARE (Details)

NET INCOME PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended											12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Basic:
Net income	$ 1,617	$ 2,752	$ 1,203	$ 1,837	$ 574	$ 1,082	$ 1,080	$ 1,107	$ 2,161	$ 1,787	$ 1,115	$ 7,074	$ 4,572	$ 6,170
Weighted-average shares outstanding												3,571	3,636
Basic earnings per share	$ 0.46	$ 0.80	$ 0.33	$ 0.51	$ 0.16	$ 0.30	$ 0.30	$ 0.29	$ 0.57	$ 0.46	$ 0.29	$ 1.98	$ 1.26	$ 1.63
Diluted:
Weighted-average shares outstanding												3,571	3,636
Effect of dilutive securities – stock options & performance awards												66	127
Weighted-average shares used in calculation of diluted earnings per share												3,637	3,763
Diluted earnings per share	$ 0.45	$ 0.79	$ 0.33	$ 0.49	$ 0.15	$ 0.29	$ 0.29	$ 0.28	$ 0.54	$ 0.45	$ 0.28	$ 1.95	$ 1.21	$ 1.57

COMMON STOCK _ Share Repurcha_2

COMMON STOCK – Share Repurchase Program (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Equity, Class of Treasury Stock [Line Items]
Share repurchases, value	$ 1,547	$ 1,606	$ 5,537
Share Repurchase Program [Member] | Tenb 51 Plan [Member]
Equity, Class of Treasury Stock [Line Items]
Shares repurchased during the year, number of shares	86,422	75,250
Share repurchases, value	$ 1,500	$ 1,600
Share Repurchase Program [Member] | Tenb 51 Plan [Member] | Cumulative Basis [Member]
Equity, Class of Treasury Stock [Line Items]
Shares repurchased during the year, number of shares	1,197,168
Share repurchases, value	$ 17,200

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member]	Oct. 06, 2023 USD ($) $ / shares shares
Subsequent Event [Line Items]
Cash | $	$ 1,250,000
Common stock shares | shares	1,828,551
Closing price | $ / shares	$ 2.67