v3.25.1

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Mar. 31, 2025	Jun. 30, 2024
Current Assets:
Cash and cash equivalents	$ 2,547,873	$ 405,278
Accounts receivable, net of allowance for credit losses of $66,833 at March 31, 2025 and $118,872 at June 30, 2024	3,425,053	3,545,491
Inventories, net	3,671,401	2,868,100
Prepaid expenses	326,524	299,364
Total current assets	9,970,851	7,118,233
Fixed Assets:
Machinery and equipment	3,408,480	3,341,194
Leasehold improvements	823,191	810,914
Furniture and fixtures	517,847	416,425
Total fixed assets	4,749,518	4,568,533
Less—accumulated depreciation and amortization	4,215,649	4,074,960
Net fixed assets	533,869	493,573
Operating lease right-to-use asset	57,088	189,999
Patents, net	236,256	286,559
Goodwill	8,824,210	8,824,210
Total other assets	9,117,554	9,300,768
TOTAL ASSETS	19,622,274	16,912,574
Current Liabilities:
Revolving line of credit	0	1,000,000
Current portion of capital lease obligation	36,225	41,113
Current maturities of long-term debt	576,405	276,928
Accounts payable	1,873,572	1,397,313
Contract liabilities	1,665,551	1,172,350
Accrued compensation and other	800,371	840,662
Current portion of operating lease liability	57,088	178,450
Total current liabilities	5,009,212	4,906,816
Capital lease obligation, net of current portion	0	27,369
Long-term debt, net of current maturities and debt issuance costs	1,435,345	1,899,052
Operating lease liability, net of current portion	0	11,549
Total liabilities	6,444,557	6,844,786
Stockholders’ Equity:
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding – 7,666,247 shares at March 31, 2025 and 6,073,939 at June 30, 2024	76,662	60,739
Additional paid-in capital	68,669,128	61,197,433
Accumulated deficit	(55,568,073)	(51,190,384)
Total stockholders’ equity	13,177,717	10,067,788
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 19,622,274	$ 16,912,574

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

PRECISION OPTICS CORPORATION, INC. 10-Q