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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">NONCASH DISCLOSURE</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">During the <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> March 31, 2021, </em>we increased Right of Use Asset and corresponding lease laibilities in the amount of $973,080.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;"/><p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"/>
973080
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">NOTE A - SUMMARY OF ACCOUNTING POLICIES</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The interim consolidated financial statements included herein have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles ("GAAP") have been condensed or omitted as allowed by such rules and regulations. The Company believes that the disclosures are adequate to make the information presented <em style="font: inherit;">not</em> misleading. These consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements dated <em style="font: inherit;"> June 30, 2021, </em>and as contained in the Company's annual report on Form <em style="font: inherit;">10</em>-K, as filed with the Securities and Exchange Commission on <em style="font: inherit;"> October 8, 2021 </em>and amended on Form <em style="font: inherit;">10</em>-K/A, as filed with the Securities and Exchange Commission on <em style="font: inherit;"> November 12, 2021, </em>which contain certain restatements to the <em style="font: inherit;"> June 30, 2021 </em>financial statements. The results for interim periods are <em style="font: inherit;">not</em> necessarily indicative of results that <em style="font: inherit;"> may </em>be expected for any other interim period or for the full year.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Management of the Company has prepared the accompanying unaudited condensed consolidated financial statements prepared in conformity with generally accepted accounting principles, which require the use of management estimates, contain all adjustments (including normal recurring adjustments) necessary to present fairly the operations and cash flows for the period presented and to make the financial statements <em style="font: inherit;">not</em> misleading.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"/>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">STOCK-BASED COMPENSATION</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Stock based compensation is accounted for in accordance with Topic <em style="font: inherit;">718</em> - Compensation - Stock Compensation in the Accounting Standards Codification. Pursuant to Topic <em style="font: inherit;">718,</em> all share-based payments to employees, including grants of employee stock options, are to be recognized in the statement of operations based upon their fair values. Topic <em style="font: inherit;">718</em> rescinds the acceptance of pro forma disclosure. In <em style="font: inherit;"> December 2009, </em>our shareholders approved the adoption of our <em style="font: inherit;">2009</em> Stock Option Plan (the <em style="font: inherit;">“2009</em> Stock Option Plan,” which expired in <em style="font: inherit;"> December 2019. </em>Our shareholders approved a new stock option plan in <em style="font: inherit;"> November 2020 (</em>the <em style="font: inherit;">“2020</em> Stock Option Plan”), providing the Company a continued means of offering stock-based compensation.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">On <em style="font: inherit;"> March 31, 2022, </em>there were 65,000 outstanding options to purchase shares of our common stock granted under our prior <em style="font: inherit;">2009</em> Stock Option Plan. There were 50,000 outstanding options to purchase shares of our common stock granted under our <em style="font: inherit;">2020</em> Stock Option Plan.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The fair value of a stock option is determined using the Black-Scholes option-pricing model, which values options based on the stock price at the grant date, the expected life of the option, the estimated volatility of the stock, the expected dividend payments, and the risk-free interest rate over the life of the option. There were no options granted during the quarter ended <em style="font: inherit;"> March 31, 2022.</em></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The Black-Scholes option valuation model was developed for estimating the fair value of traded options that have <em style="font: inherit;">no</em> vesting restrictions and are fully transferable. Because option valuation models require the use of subjective assumptions, changes in these assumptions can materially affect the fair value of the options. Our options do <em style="font: inherit;">not</em> have the characteristics of traded options, therefore, the option valuation models do <em style="font: inherit;">not</em> necessarily provide a reliable measure of the fair value of our options.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"/>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">EARNINGS PER SHARE</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Basic earnings per share (EPS) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that would occur if dilutive securities such as stock options and other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in earnings. We use the treasury stock method to compute potential common shares from stock options and the as-if-converted method to compute potential common shares from Preferred Stock.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">For the <em style="font: inherit;">three</em> and <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> March 31, 2022, </em>the potential dilutive effects of the preferred stock and stock options were excluded in the weighted-average shares outstanding, as the shares would have an anti-dilutive effect on the loss from continuing operations.</p><p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;"/>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"/>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">STOCK-BASED COMPENSATION</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Stock based compensation is accounted for in accordance with Topic <em style="font: inherit;">718</em> - Compensation - Stock Compensation in the Accounting Standards Codification. Pursuant to Topic <em style="font: inherit;">718,</em> all share-based payments to employees, including grants of employee stock options, are to be recognized in the statement of operations based upon their fair values. Topic <em style="font: inherit;">718</em> rescinds the acceptance of pro forma disclosure. In <em style="font: inherit;"> December 2009, </em>our shareholders approved the adoption of our <em style="font: inherit;">2009</em> Stock Option Plan (the <em style="font: inherit;">“2009</em> Stock Option Plan,” which expired in <em style="font: inherit;"> December 2019. </em>Our shareholders approved a new stock option plan in <em style="font: inherit;"> November 2020 (</em>the <em style="font: inherit;">“2020</em> Stock Option Plan”), providing the Company a continued means of offering stock-based compensation.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">On <em style="font: inherit;"> March 31, 2022, </em>there were 65,000 outstanding options to purchase shares of our common stock granted under our prior <em style="font: inherit;">2009</em> Stock Option Plan. There were 50,000 outstanding options to purchase shares of our common stock granted under our <em style="font: inherit;">2020</em> Stock Option Plan.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The fair value of a stock option is determined using the Black-Scholes option-pricing model, which values options based on the stock price at the grant date, the expected life of the option, the estimated volatility of the stock, the expected dividend payments, and the risk-free interest rate over the life of the option. There were no options granted during the quarter ended <em style="font: inherit;"> March 31, 2022.</em></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The Black-Scholes option valuation model was developed for estimating the fair value of traded options that have <em style="font: inherit;">no</em> vesting restrictions and are fully transferable. Because option valuation models require the use of subjective assumptions, changes in these assumptions can materially affect the fair value of the options. Our options do <em style="font: inherit;">not</em> have the characteristics of traded options, therefore, the option valuation models do <em style="font: inherit;">not</em> necessarily provide a reliable measure of the fair value of our options.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
65000
50000
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">EARNINGS PER SHARE</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Basic earnings per share (EPS) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that would occur if dilutive securities such as stock options and other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in earnings. We use the treasury stock method to compute potential common shares from stock options and the as-if-converted method to compute potential common shares from Preferred Stock.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">For the <em style="font: inherit;">three</em> and <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> March 31, 2022, </em>the potential dilutive effects of the preferred stock and stock options were excluded in the weighted-average shares outstanding, as the shares would have an anti-dilutive effect on the loss from continuing operations.</p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">NOTE B - INVENTORIES</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">Inventories consisted of the following: </p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"><tbody><tr style="vertical-align: bottom;"><td> </td><td style="padding-bottom: 1px;"> </td><td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="margin: 0pt;">March 31,</p> <p style="margin: 0pt;">2022</p> </td><td style="padding-bottom: 1px;"> </td><td style="padding-bottom: 1px;"> </td><td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="margin: 0pt;">June 30,</p> <p style="margin: 0pt;">2021</p> </td><td style="padding-bottom: 1px;"> </td></tr>
<tr><td style="font-family: Times New Roman; font-size: 10pt; width: 70%;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt; width: 70%;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Finished Goods</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">748,313</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">683,771</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Raw Materials</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">317,778</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 23pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">170,567</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,066,091</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">854,338</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"> </td></tr>
</tbody></table>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">At <em style="font: inherit;"> March 31, 2022 </em>and <em style="font: inherit;"> June 30, 2021, </em>respectively, $182,383 and $263,280 of our inventory was considered non-current as it will <em style="font: inherit;">not</em> be used within a <em style="font: inherit;">one</em> year period.</p>
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"><tbody><tr style="vertical-align: bottom;"><td> </td><td style="padding-bottom: 1px;"> </td><td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="margin: 0pt;">March 31,</p> <p style="margin: 0pt;">2022</p> </td><td style="padding-bottom: 1px;"> </td><td style="padding-bottom: 1px;"> </td><td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="margin: 0pt;">June 30,</p> <p style="margin: 0pt;">2021</p> </td><td style="padding-bottom: 1px;"> </td></tr>
<tr><td style="font-family: Times New Roman; font-size: 10pt; width: 70%;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt; width: 70%;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Finished Goods</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">748,313</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">683,771</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Raw Materials</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">317,778</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 23pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">170,567</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,066,091</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">854,338</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"> </td></tr>
</tbody></table>
748313
683771
317778
170567
1066091
854338
182383
263280
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">NOTE C - STOCKHOLDERS' EQUITY</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">During <em style="font: inherit;"> January 1995, </em>the Company's Board of Directors authorized the issuance of up to 4,000,000 shares of Series A Cumulative Convertible Preferred Stock ("Series A Preferred Stock"). The preferred stockholders are entitled to receive, as and if declared by the board of directors, quarterly dividends at an annual rate of <span style="-sec-ix-hidden:c84136285">$.10</span> per share of Series A Preferred Stock per annum. Dividends will accrue without interest and will be cumulative from the date of issuance of the Series A Preferred Stock and will be payable quarterly in arrears in cash or publicly traded common stock when and if declared by the Board of Directors. As of <em style="font: inherit;"> March 31, 2022, </em>no dividends have been declared. Dividends in arrears on the outstanding preferred shares total $417,051 as of <em style="font: inherit;"> March 31, 2022.</em></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Holders of the Preferred Stock have the right to convert their shares of Preferred Stock into an equal number of shares of Common Stock of the Company. In addition, Preferred Stock holders have the right to vote the number of shares into which their shares are convertible into Common Stock. Such preferred shares will automatically convert into <span style="-sec-ix-hidden:c84136288">one</span> share of Common Stock at the close of a public offering of Common Stock by the Company provided the Company receives gross proceeds of at least $1,000,000, and the initial offering price of the Common Stock sold in such offering is equal to or in excess of $1 per share. The Company is obligated to reserve an adequate number of shares of its common stock to satisfy the conversion of all the outstanding Series A Preferred Stock. There were no shares converted during the reporting period. So long as any share of Series A Preferred Stock is outstanding, the Company is prohibited from declaring dividends or other distributions related to its Common Stock or purchasing, redeeming or otherwise acquiring any of the Common Stock.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
4000000
0
417051
1000000
1
0
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">NOTE D - INCOME TAXES AND AVAILABLE CARRYFORWARD</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">As of <em style="font: inherit;"> March 31, 2022, </em>the Company had consolidated income tax net operating loss ("NOL") carryforwards for federal income tax purposes of approximately $702,000. NOL arising before <em style="font: inherit;"> December 31, 2020 </em>will expire in various years ending through the year <em style="font: inherit;">2035</em> and for losses arising in taxable years beginning after <em style="font: inherit;"> December 31, 2020, </em>the deduction is limited to <em style="font: inherit;">80%</em> of taxable income and can be carried forward indefinitely. The utilization of certain loss carryforwards are limited under Section <em style="font: inherit;">382</em> of the Internal Revenue Code.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The components of the provision for income tax (expense) attributable to continuing operations are as follows:</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"><tbody><tr style="vertical-align: bottom;"><td> </td><td style="padding-bottom: 1px;"> </td><td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="margin: 0pt;">Nine Months</p> <p style="margin: 0pt;">3/31/2022</p> </td><td style="border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="margin: 0pt;">Nine Months</p> <p style="margin: 0pt;">3/31/2021</p> </td><td style="padding-bottom: 1px;"> </td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition" style="vertical-align: bottom;"><td style="width: 70%;">Current</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;">Federal</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">0</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%;"> </td><td style="width: 1%;">$</td><td style="width: 12%; text-align: right;">0</td><td style="width: 1%; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;">State</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">0</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">0</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">0</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 39pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 39pt; text-align: right;">0</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition" style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Deferred</p> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition" style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;">Federal</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">(1,060</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 39pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 39pt; text-align: right;">(8,198</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition" style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;">State</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(220</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(1,695</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition" style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(1,280</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(9,893</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr style="background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; text-align: right;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; text-align: right;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Total Income Tax Benefit / (Expense)</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">(1,280</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">(9,893</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td></tr>
</tbody></table>
<p style="margin: 0pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;"><tbody><tr><td colspan="6" style="vertical-align:top;width:98.9%;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">Deferred income taxes reflect the net tax effects of the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax assets and liabilities are as follows:</p> </td></tr>
</tbody></table>
<p style="margin: 0pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"><tbody><tr style="vertical-align: bottom;"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td><td colspan="2" style="font-family: Times New Roman; font-size: 10pt; margin-left: 12pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">Non-Current</p> </td><td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt; width: 85%;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Deferred tax assets</p> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">NOL and contribution carryforwards</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 18pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 18pt; text-align: right;">177,902</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Share based payments</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">4,988</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Lease liabilities - operating leases</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 84pt; text-align: right;">175,209</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Accrued compensated absences</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">12,906</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Accrued bonus</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">2,088</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Allowance for doubtful accounts</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 12pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">3,439</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Total deferred tax assets</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 84pt; text-align: right;">376,532</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td> </td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td>Deferred tax (liabilities)</td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="padding-left: 72pt;">Right-of-use-assets - operating leases</td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 12%; text-align: right;">(189,761</td><td style="width: 1%; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="padding-left: 72pt;">Excess of tax over book depreciation</td><td style="width: 1%;"> </td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(35,661</td><td style="width: 1%; padding-bottom: 1px; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="padding-left: 72pt;">Total deferred tax (liabilities)</td><td style="width: 1%;"> </td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(225,422</td><td style="width: 1%; padding-bottom: 1px; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td> </td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td>Total deferred tax asset</td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 12%; text-align: right;">151,110</td><td style="width: 1%; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="padding-left: 72pt;">Valuation Allowance</td><td style="width: 1%; padding-bottom: 1px;"> </td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; border-bottom: 1px solid rgb(0, 0, 0);">(31,960</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="padding-left: 72pt;">Net Deferred Tax Asset</td><td style="width: 1%; padding-bottom: 3px;"> </td><td style="width: 1%; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">119,150</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 3px;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td> </td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td>The change in the valuation allowance is as follows:</td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="padding-left: 72pt;">June 30, 2021</td><td style="width: 1%;"> </td><td style="width: 1%;">$</td><td style="width: 12%; text-align: right;"><em style="font: inherit;">-</em></td><td style="width: 1%; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="padding-left: 72pt;">March 31, 2022</td><td style="width: 1%; padding-bottom: 1px;"> </td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; border-bottom: 1px solid rgb(0, 0, 0);">(31,960</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td> </td><td style="width: 1%; padding-bottom: 3px;"> </td><td style="width: 1%; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">(31,960</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 3px;">)</td></tr>
</tbody></table>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;">Income taxes for the <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> March 31, 2022 </em>and <em style="font: inherit;">2021</em> differ from the amounts computed by applying the effective income tax rate of 25.35%, to income before income taxes as a result of the following:</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"><tbody><tr style="vertical-align: bottom;"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="2" style="font-family: Times New Roman; font-size: 10pt; margin-left: 25pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">Nine Months</p> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="2" style="font-family: Times New Roman; font-size: 10pt; margin-left: 24pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">Nine Months</p> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td></tr>
<tr style="vertical-align: bottom;"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="2" style="font-family: Times New Roman; font-size: 10pt; margin-left: 19pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">March 31, 2022</p> </td><td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="2" style="font-family: Times New Roman; font-size: 10pt; margin-left: 18pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">March 31, 2021</p> </td><td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt; width: 70%;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Expected (provision) at US statutory rate</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">27,147</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">(68,254</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">State income tax net of federal (provision)</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">5,617</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 64pt; text-align: right;">(14,122</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Nondeductible Expense</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">(689</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 70pt; text-align: right;">(2,599</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Change in estimates of loss carryforward</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">(1,395</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 72pt; text-align: right;">18,444</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Change in valuation allowance</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(31,960</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 1pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 1pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">56,638</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Income Tax (Expense)</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(1,280</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 1pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 1pt; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">(9,893</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td></tr>
</tbody></table>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify; text-indent: 36pt;">The earliest tax year still subject to examination by a major taxing jurisdiction is fiscal year end <em style="font: inherit;"> June 30, 2019.</em></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The Company performed a review of its uncertain tax positions in accordance with Accounting Standards Codification ASC <em style="font: inherit;">740</em>-<em style="font: inherit;">10</em> "Uncertainty in Income Taxes". In this regard, an uncertain tax position represents the Company's expected treatment of a tax position taken in a filed tax return, or planned to be taken in a future tax return, that has <em style="font: inherit;">not</em> been reflected in measuring income tax expense for financial reporting purposes. As a result of this review, the Company concluded that at this time there are no uncertain tax positions, and there has been <em style="font: inherit;">no</em> cumulative effect on retained earnings.</p>
702000
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"><tbody><tr style="vertical-align: bottom;"><td> </td><td style="padding-bottom: 1px;"> </td><td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="margin: 0pt;">Nine Months</p> <p style="margin: 0pt;">3/31/2022</p> </td><td style="border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="margin: 0pt;">Nine Months</p> <p style="margin: 0pt;">3/31/2021</p> </td><td style="padding-bottom: 1px;"> </td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition" style="vertical-align: bottom;"><td style="width: 70%;">Current</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;">Federal</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">0</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%;"> </td><td style="width: 1%;">$</td><td style="width: 12%; text-align: right;">0</td><td style="width: 1%; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;">State</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">0</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">0</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition GFJY4-DIN-com-rdg-thunderdome-client-resources-CssResource-html-element-highlighted" style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">0</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 39pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 39pt; text-align: right;">0</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition" style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Deferred</p> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition" style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;">Federal</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">(1,060</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 39pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 39pt; text-align: right;">(8,198</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition" style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;">State</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(220</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(1,695</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr class="GFJY4-DFU-com-rdg-thunderdome-client-resources-CssResource-html-lineItem-v2v-addition" style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(1,280</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(9,893</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr style="background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; text-align: right;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; text-align: right;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Total Income Tax Benefit / (Expense)</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">(1,280</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 33pt; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">(9,893</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td></tr>
</tbody></table>
0
0
0
0
0
0
1060
8198
220
1695
1280
9893
1280
9893
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"><tbody><tr style="vertical-align: bottom;"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td><td colspan="2" style="font-family: Times New Roman; font-size: 10pt; margin-left: 12pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">Non-Current</p> </td><td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt; width: 85%;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Deferred tax assets</p> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">NOL and contribution carryforwards</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 18pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 18pt; text-align: right;">177,902</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Share based payments</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">4,988</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Lease liabilities - operating leases</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 84pt; text-align: right;">175,209</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Accrued compensated absences</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">12,906</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Accrued bonus</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">2,088</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Allowance for doubtful accounts</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 12pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">3,439</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 72pt;">Total deferred tax assets</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 84pt; text-align: right;">376,532</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td> </td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td>Deferred tax (liabilities)</td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="padding-left: 72pt;">Right-of-use-assets - operating leases</td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 12%; text-align: right;">(189,761</td><td style="width: 1%; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="padding-left: 72pt;">Excess of tax over book depreciation</td><td style="width: 1%;"> </td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(35,661</td><td style="width: 1%; padding-bottom: 1px; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="padding-left: 72pt;">Total deferred tax (liabilities)</td><td style="width: 1%;"> </td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">(225,422</td><td style="width: 1%; padding-bottom: 1px; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td> </td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td>Total deferred tax asset</td><td style="width: 1%;"> </td><td style="width: 1%;"> </td><td style="width: 12%; text-align: right;">151,110</td><td style="width: 1%; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="padding-left: 72pt;">Valuation Allowance</td><td style="width: 1%; padding-bottom: 1px;"> </td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; border-bottom: 1px solid rgb(0, 0, 0);">(31,960</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="padding-left: 72pt;">Net Deferred Tax Asset</td><td style="width: 1%; padding-bottom: 3px;"> </td><td style="width: 1%; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">119,150</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 3px;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td> </td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td>The change in the valuation allowance is as follows:</td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="padding-left: 72pt;">June 30, 2021</td><td style="width: 1%;"> </td><td style="width: 1%;">$</td><td style="width: 12%; text-align: right;"><em style="font: inherit;">-</em></td><td style="width: 1%; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="padding-left: 72pt;">March 31, 2022</td><td style="width: 1%; padding-bottom: 1px;"> </td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; border-bottom: 1px solid rgb(0, 0, 0);">(31,960</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td> </td><td style="width: 1%; padding-bottom: 3px;"> </td><td style="width: 1%; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">(31,960</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 3px;">)</td></tr>
</tbody></table>
177902
4988
175209
12906
2088
3439
376532
189761
35661
225422
151110
31960
119150
31960
-31960
0.2535
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"><tbody><tr style="vertical-align: bottom;"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="2" style="font-family: Times New Roman; font-size: 10pt; margin-left: 25pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">Nine Months</p> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="2" style="font-family: Times New Roman; font-size: 10pt; margin-left: 24pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">Nine Months</p> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td></tr>
<tr style="vertical-align: bottom;"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="2" style="font-family: Times New Roman; font-size: 10pt; margin-left: 19pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">March 31, 2022</p> </td><td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="2" style="font-family: Times New Roman; font-size: 10pt; margin-left: 18pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">March 31, 2021</p> </td><td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt; width: 70%;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Expected (provision) at US statutory rate</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">27,147</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">(68,254</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">State income tax net of federal (provision)</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">5,617</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 64pt; text-align: right;">(14,122</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Nondeductible Expense</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">(689</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 70pt; text-align: right;">(2,599</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Change in estimates of loss carryforward</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">(1,395</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 72pt; text-align: right;">18,444</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Change in valuation allowance</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(31,960</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 1pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 1pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">56,638</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Income Tax (Expense)</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(1,280</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 1pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 1pt; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">(9,893</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td></tr>
</tbody></table>
-27147
68254
-5617
14122
689
2599
-1395
18444
31960
-56638
1280
9893
0
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">NOTE E - LINE OF CREDIT</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">In <em style="font: inherit;"> June 2021, </em>we entered into a line of credit, with a limit of $250,000. The terms of the Line of credit include an interest rate that fluctuates at prime plus a half of point, interest only. The line of credit matures on <em style="font: inherit;"> June 30, 2022.</em></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Interest expense for the years ended <em style="font: inherit;"> June 30, 2021 </em>and the period ending <em style="font: inherit;"> March 31, 2022, </em>was $0 and $0, respectively.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify; text-indent: 36pt;">The line of credit is guaranteed by Justice W. Anderson, our President and Chief Executive Officer.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
250000
0
0
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">NOTE F - PAYCHECK PROTECTION PROGRAM LOAN</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The Company applied for a loan with the Small Business Administration (the "SBA") Paycheck Protection Program ("PPP") of the Coronavirus Aid, Relief and Economic Security Act of <em style="font: inherit;">2020</em> (the "CARES Act") in the amount of $201,000 (the "Loan"). The Loan was funded on <em style="font: inherit;"> April 13, 2020. </em>The Company used the proceeds of the Loan for covered payroll costs, rent and utilities in accordance with the relevant terms and conditions of the CARES Act.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The Loan, which is evidenced by a promissory note (the "Note"), had a <em style="font: inherit;">two</em>-year term, maturing on <em style="font: inherit;"> April 13, 2022, </em>and bearing interest at a rate of <em style="font: inherit;">1.00%</em> per annum. Monthly principal and interest payments, less the amount of any potential forgiveness (discussed below), would commence <em style="font: inherit;">seven</em> months from the date the Note was signed and funded. The Company did <em style="font: inherit;">not</em> provide any collateral or guarantees for the Loan, nor any facility charge to obtain the Loan.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">We applied for the loan to be forgiven, pursuant to the CARES Act and relevant regulation. The loan was forgiven by the SBA in <em style="font: inherit;"> May </em>of <em style="font: inherit;">2021.</em></p>
201000
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">NOTE G - RECENT ACCOUNTING PRONOUNCEMENTS</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">In <em style="font: inherit;"> June 2016, </em>the F ASB issued Accounting Standards Update <em style="font: inherit;">No.</em> <em style="font: inherit;">2016</em>-<em style="font: inherit;">13,</em> Financial Instruments - Credit Loss (Topic <em style="font: inherit;">326</em>) (<em style="font: inherit;">44ASU</em> <em style="font: inherit;">2016</em>-<em style="font: inherit;">13"</em>), which updates the guidance on recognition and measurement of credit losses for financial assets. The new requirements, known as the current expected credit loss model ("CECL ") will require entities to adopt an impairment model based on expected losses rather than incurred losses. ASU <em style="font: inherit;">2016</em>-<em style="font: inherit;">13</em> must be adopted on a modified-retrospective approach. This update was effective for fiscal years beginning after <em style="font: inherit;"> December 15, 2020 </em>including interim periods within those fiscal years. In <em style="font: inherit;"> October 2019, </em>the FASB approved an extension for all non-SEC filers, including small reporting companies, to extend the effective date to fiscal years beginning after <em style="font: inherit;"> December 15, 2022, </em>including interim periods within those fiscal years. Therefore, the effective date for this update will be <em style="font: inherit;"> July 1, 2023. </em>The Company is currently evaluating the potential impact of the adoption of the new standard on its consolidated statements of financial condition and results of operations.</p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">NOTE H - RIGHT-OF-USE ASSETS AND LEASE LIABILITIES</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">Operating leases</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">In <em style="font: inherit;"> June 2015, </em>the Company entered into a lease agreement to lease certain office equipment with a lease term of 63 months. The lease contains a renewal option to extend the term for successive <em style="font: inherit;">one</em> year periods. The Company is <em style="font: inherit;">not</em> reasonably certain that it will renew the lease when it expires. Initial rent amount was $1,079 per month, with increases each year <em style="font: inherit;">no</em> more than 3%. In applying ASC <em style="font: inherit;">842,</em> the Company uses a lease term of <em style="font: inherit;">63</em> months and anincremental borrowing rate of 5.5% which was the borrowing rate on the Company’s line of credit with a financial institution with all accounts and general intangibles. This lease expired in <em style="font: inherit;"> September 2020. </em>As such, the right-of-use asset has been fully amortized and its related lease liability extinguished at <em style="font: inherit;"> September 30, 2020.</em></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">In <em style="font: inherit;"> February 2018, </em>the Company entered in a lease agreement to lease warehouse space with a lease term of 39 months. The Company pays no rent for the <em style="font: inherit;">first</em> <em style="font: inherit;">three</em> months of the lease, pays $2,936 per month for the next <em style="font: inherit;">12</em> months, $3,024 per month for the next <em style="font: inherit;">8</em> months, $3,019 per month for the next <em style="font: inherit;">4</em> months, and $3,109 for the last <em style="font: inherit;">12</em> months. In applying ASC <em style="font: inherit;">842,</em> the Company uses a lease term of <em style="font: inherit;">39</em> months and an incremental borrowing rate of 5.5% which was the borrowing rate on the Company’s line of credit with a financial institution. This lease expired in <em style="font: inherit;"> April 2021. </em>As such, the right-of-use asset has been fully amortized and its related lease liability extinguished at <em style="font: inherit;"> April 30, 2021.</em></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">In <em style="font: inherit;"> August 2020, </em>the Company entered into a lease agreement to lease certain office equipment with a lease term of 63 months. The lease renews on a month-to-month basis and contains an option to purchase the equipment at fair market value or return the equipment. Historically, the Company has <em style="font: inherit;">not</em> exercised the option to purchase at the end of the initial lease term for similar leases and simply returned the equipment at the end of the initial lease term. Initial rent amount was $574 per month. In applying ASC <em style="font: inherit;">842,</em> the Company uses a lease term of <em style="font: inherit;">63</em> months and an incremental borrowing rate of 4.25% which was the borrowing rate on the Company’s line of credit with a financial institution.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">In <em style="font: inherit;"> January 2021, </em>the Company entered in a lease agreement to lease warehouse space with a lease term of 64 months. The Company pays no rent for the <em style="font: inherit;">first</em> <em style="font: inherit;">four</em> months of the lease and pays $4,792.50 per month beginning the <em style="font: inherit;">5th</em> month of the lease. Rent will increase each succeeding year by <em style="font: inherit;">no</em> less than 2% but <em style="font: inherit;">not</em> more than 5%. The rent amount includes common area maintenance charges which are considered nonlease components. In applying ASC <em style="font: inherit;">842,</em> the Company is electing to account for nonlease components as being related to the lease component. In addition, the Company uses a lease term of 64 months and an incremental borrowing rate at prime rate of 3.25% which was the borrowing rate on the Company’s recent line of credit with a financial institution.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">In <em style="font: inherit;"> January 2021, </em>the Company entered in a lease agreement to lease office space with a lease term of 64 months. The Company pays no rent for the <em style="font: inherit;">first</em> <em style="font: inherit;">four</em> months of the lease and pays $9,372 per month beginning the <em style="font: inherit;">5th</em> month of the lease. Rent will increase each succeeding year by <em style="font: inherit;">no</em> less than 2% but <em style="font: inherit;">not</em> more than 5%. The rent amount includes common area maintenance charges which are considered nonlease components. In applying ASC <em style="font: inherit;">842,</em> the Company is electing to account for nonlease components as being related to the lease component. The Company also incurred initial direct cost of $114,083 related to existing improvements in the leased space. This initial direct cost has been included in determining the initial ROU asset and liability amounts. In addition, the Company uses a lease term of <em style="font: inherit;">64</em> months and an incremental borrowing rate at prime rate of 3.25% which was the borrowing rate on the Company’s recent line of credit with a financial institution.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify; text-indent: 36pt;">The following is information related to the Company’s right-of-use assets and liabilities for its operating leases:</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"><tbody><tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="width: 85%;">ROU assets - operating leases obtained in exchange for lease liabilities - operating lease</td><td style="width: 1%;"> </td><td style="width: 1%;">$</td><td style="width: 12%; text-align: right;">973,081</td><td style="width: 1%; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td>Amortization of ROU assets since lease inception</td><td style="width: 1%; padding-bottom: 1px;"> </td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; border-bottom: 1px solid rgb(0, 0, 0);">(224,371</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td>ROU assets - operating leases at March 31, 2022</td><td style="width: 1%; padding-bottom: 3px;"> </td><td style="width: 1%; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">748,710</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 3px;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Lease liabilities - operating leases on adoption date</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">973,081</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Payments on lease liabilities</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(281,783</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Lease liabilities - operating leases on March 31, 2022</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">691,298</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Lease liabilities - operating leases due in the 12 months ending March 31, 2022</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">160,380</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Lease liabilities - operating leases due after March 31, 2022</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">530,918</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"> </td></tr>
</tbody></table>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Variable lease expense was $50,020 and $58,406 for the <em style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2022 </em>and <em style="font: inherit;">2021,</em> respectively. Variable lease expense was $150,061 and $80,922 for the <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> March 31, 2022 </em>and <em style="font: inherit;">2021,</em> respectively.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Weighted average remaining lease term was 3.99 years and weighted average discount rate was 3.29% at <em style="font: inherit;"> March 31, 2022.</em></p>
P63M
1079
0.03
0.055
P39M
0
2936
3024
3019
3109
0.055
P63M
574
0.0425
P64M
0
4792.50
0.02
0.05
P64M
0.0325
P64M
0
9372
0.02
0.05
114083
0.0325
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"><tbody><tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="width: 85%;">ROU assets - operating leases obtained in exchange for lease liabilities - operating lease</td><td style="width: 1%;"> </td><td style="width: 1%;">$</td><td style="width: 12%; text-align: right;">973,081</td><td style="width: 1%; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td>Amortization of ROU assets since lease inception</td><td style="width: 1%; padding-bottom: 1px;"> </td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; border-bottom: 1px solid rgb(0, 0, 0);">(224,371</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td>ROU assets - operating leases at March 31, 2022</td><td style="width: 1%; padding-bottom: 3px;"> </td><td style="width: 1%; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; border-bottom: 3px double rgb(0, 0, 0);">748,710</td><td style="width: 1%; margin-left: 0pt; padding-bottom: 3px;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Lease liabilities - operating leases on adoption date</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt;">$</td><td style="width: 12%; font-family: Times New Roman; font-size: 10pt; margin-left: 6pt; text-align: right;">973,081</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Payments on lease liabilities</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(281,783</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Lease liabilities - operating leases on March 31, 2022</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">691,298</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Lease liabilities - operating leases due in the 12 months ending March 31, 2022</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">160,380</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Lease liabilities - operating leases due after March 31, 2022</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; padding-bottom: 3px;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td><td style="width: 12%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">530,918</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"> </td></tr>
</tbody></table>
973081
224371
748710
973081
281783
691298
160380
530918
50020
58406
150061
80922
P3Y11M26D
0.0329
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">NOTE I - CONTINGENCY</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">At the time of release of these financial statements, the United States is experiencing a National Emergency related to the COVID-<em style="font: inherit;">19</em> pandemic. Management is unable to quantify the potential duration and economic impact of the pandemic.</p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">NOTE J - SUBSEQUENT EVENTS</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">We have evaluated subsequent events through <em style="font: inherit;"> May 4, 2022, </em>which is the date the financial statements were available to be issued.</p>