OAKRIDGE HOLDINGS INC

CIK:0000073605|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Revenue, net:
Net Revenue	$ 502,174	$ 1,406,737
Cost of Revenue:
Cost of sales	525,000	1,140,959
Gross profit (loss)	(22,826)	265,778
Operating expenses
Sales & marketing	25,356	25,005
General & administrative	97,018	136,006
Total operating expenses	122,374	161,011
Operating income (loss)	(145,200)	104,767
Other expenses
Interest expense	(39,414)	(36,249)
Total other expenses	(39,414)	(36,249)
Net income (loss) before taxes	(184,614)	68,518
Income tax benefit (expense)	80,000	(27,000)
Discontinued Operation:
Net income (loss)	$ (104,614)	$ 41,518
Weighted -average common shares used in the computation of EPS
Basic and diluted	1,431,503	1,431,503
Basic and diluted net income (loss) per share	$ (0.07)	$ 0.03

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2016	Sep. 30, 2015
net cash flows from operating activities:
Net income(loss)	$ (104,614)	$ 41,518
Depreciation and amortization	24,969	17,694
Deferred income taxes	(80,000)	0
Receivables	374,603	(100,381)
Inventories	58,999	358,203
Prepaids & other assets	(4,005)	7,905
Accounts payable and due to finance company	(54,418)	(126,687)
Deferred revenue	49,961	(97,703)
Accrued liabilities	(26,084)	82,418
Net cash flows from operating activities	239,411	182,967
Cash flows from investing activities:
Purchases of property and equipment	(4,743)	(4,541)
Net cash flows from investing activities	(4,743)	(4,541)
Cash flows from financing activities:
Principal payments on long-term debt	(89,842)	(62,602)
Net cash flows from financing activities	(89,842)	(62,602)
Net change in cash	144,826	115,824
Cash-continuing operations
Beginning of year	69,621	55,042
End of period	$ 214,447	$ 170,866

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Jun. 30, 2016
Current assets
Cash	$ 214,447	$ 69,621
Trade accounts receivable, net	99,491	474,094
Inventories, net	983,485	1,042,484
Other current assets	15,188	11,183
Deferred income taxes, current	23,000	23,000
Total current assets	1,335,611	1,620,382
Property, plant & equipment
Property, plant & equipment at cost	3,122,986	3,118,243
Less accumulated depreciation	(2,082,543)	(2,061,543)
Total property, plant & equipment	1,040,443	1,056,700
Other assets (non-current):
Deferred long-term income taxes	171,000	91,000
Other assets, non-current	24,555	28,524
Total other assets	195,555	119,524
Total assets	2,571,609	2,796,606
Current liabilities
Trade accounts payable	493,195	546,845
Due to finance company	82,137	82,905
Accrued liabilities	356,658	382,742
Deferred revenue	162,599	112,638
Due to related party	90,062	90,062
Current maturities of long-term debt	288,423	305,104
Total current liabilities	1,473,074	1,520,296
Long-term liabilities
Long-term debt less current portion	1,598,440	1,671,601
Total Long-term liabilities	1,598,440	1,671,601
Total liabilities	3,071,514	3,191,897
Stockholders' deficit
Common Stock	143,151	143,151
Paid-in-capital	2,457,975	2,457,975
Accumulated deficit	(3,101,031)	(2,996,417)
Total stockholders' deficit	(499,905)	(395,291)
Total liabilities and stockholders' deficit	$ 2,571,609	$ 2,796,606