INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2015

INCOME TAXES [Abstract]

Provision for income taxes

The provision for income taxes consists of the following at June 30:

	2015			2014
Current Expense	$	0		$	0
Deferred Expense/(Benefit)		(482,000	)		(1,459,000	)
Inc/(Dec) in valuation allowance		482,000			1,459,000
Total provision for income tax	$	0		$	0

Income tax reconciliation

The total provision differs from the amount computed by applying federal statutory rates to loss before income taxes due to the following at June 30:

	2015			2014
Provision for income tax at the statutory rate of 34%	$	(1,507,000	)	$	(1,539,000	)
Increase(Decrease) in taxes due to
Change in valuation allowance		482,000			1,459,000
Disallowed expense		(14,000	)		9,000
Federal Tax Return True Ups		(30,000	)		71,000
Expired & Cancelled Stock Op		729,000			0
Expired Net Operating Loss		340,000			0
Total provision for income tax	$	0		$	0

Components of net deferred income tax assets

The components of the net deferred income tax assets, calculated at an effective rate of 34%, are as follows at June 30:

	2015			2014
Deferred income tax assets
Current deferred tax assets
Accrued Liabilities	$	0		$	0
Valuation allowance		0			0
Total current deferred tax assets		0			0
Noncurrent deferred tax assets
Net operating loss carryforwards		13,339,000			12,367,000
Nonqualified stock options		390,000			1,056,000
Deferred Revenue		143,000			0
Capital loss carryforwards		0			0
Unrealized Loss on Stock Compensation		0			0
Legal dispute reserve		0			0
Basis difference of fixed assets		0			0
Valuation allowance		(13,859,000	)		(13,415,000	)
Total noncurrent deferred tax assets		13,000			8,000
Noncurrent deferred tax liabilities
Basis difference of fixed assets		13,000			8,000
Total noncurrent deferred tax liabilities		13,000			8,000
Net deferred tax asset/(liability)	$	0		$	0

Amounts and expiration dates of Company's net operating loss carry-forwards

For tax purposes, the Company has unused net operating losses available for carryforwards to future tax years.  At June 30, 2015, the amounts and expiration dates of the Company's net operating loss carryforwards are as follows.

Year Ended	Expires	Amount
June 30, 1999	June 30, 2019		1,361,000
June 30, 2000	June 30, 2020		1,091,000
June 30, 2001	June 30, 2021		2,002,000
June 30, 2002	June 30, 2022		2,527,000
June 30, 2003	June 30, 2023		1,364,000
June 30, 2004	June 30, 2024		2,162,000
June 30, 2005	June 30, 2025		2,208,000
June 30, 2006	June 30, 2026		2,373,000
June 30, 2007	June 30, 2027		1,177,000
June 30, 2008	June 30, 2028		1,676,000
June 30, 2009	June 30, 2029		1,439,000
June 30, 2010	June 30, 2030		1,699,000
June 30, 2011	June 30, 2031		3,129,000
June 30, 2012	June 30, 2032		2,968,000
June 30, 2013	June 30, 2033		3,536,000
June 30, 2014	June 30, 2034		4,635,000
June 30, 2015	June 30, 2035		3,884,000
Total		$	39,231,000