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<div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-WEIGHT:bold; FONT-SIZE:10pt; FONT-FAMILY:Times New Roman">10.           INCOME TAXES</font></div><div style="DISPLAY:block; MARGIN-LEFT:36pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:Times New Roman"></font> </div><div style="DISPLAY:block; MARGIN-LEFT:36pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:Times New Roman">The Company recognizes deferred tax assets and liabilities for temporary differences between the financial reporting and tax bases of its assets and liabilities.  Deferred assets are reduced by a valuation allowance when deemed appropriate.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:36pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:Times New Roman">The tax effects of existing temporary differences that give rise to significant portions of deferred tax assets at September 30, 2010 and June 30, 2010 are as follows:</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div align="center"><table width="60%" style="FONT-SIZE:10pt; FONT-FAMILY:times new roman" cellpadding="0" cellspacing="0"><tr><td width="36%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">September 30, 2010</font></div></td><td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">June 30, 2010</font></div></td><td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td></tr><tr bgcolor="#cceeff"><td width="36%" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">Net operating loss carryforwards</font></div></td><td width="2%" align="right" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="1%" align="left" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">$</font></div></td><td width="8%" align="right" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">1,377,000</font></div></td><td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="2%" align="right" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="1%" align="left" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">$</font></div></td><td width="8%" align="right" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">1,373,000</font></div></td><td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td></tr><tr bgcolor="white"><td width="36%" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">Deferred compensation</font></div></td><td width="2%" align="right" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="8%" align="right" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">115,000</font></div></td><td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="2%" align="right" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="8%" align="right" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">118,000</font></div></td><td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td></tr><tr bgcolor="#cceeff"><td width="36%" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">Accounts receivable allowance</font></div></td><td width="2%" align="right" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="8%" align="right" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">4,000</font></div></td><td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="2%" align="right" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="8%" align="right" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">4,000</font></div></td><td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td></tr><tr bgcolor="white"><td width="36%" style="PADDING-BOTTOM:2px" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">Valuation allowance</font></div></td><td width="2%" style="PADDING-BOTTOM:2px" align="right" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="1%" style="BORDER-BOTTOM:black 2px solid" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="8%" style="BORDER-BOTTOM:black 2px solid" align="right" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">(1,496,000</font></div></td><td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">)</font></div></td><td width="2%" style="PADDING-BOTTOM:2px" align="right" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="1%" style="BORDER-BOTTOM:black 2px solid" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="8%" style="BORDER-BOTTOM:black 2px solid" align="right" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">(1,495,000</font></div></td><td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">)</font></div></td></tr><tr bgcolor="#cceeff"><td width="36%" style="PADDING-BOTTOM:4px" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">Net deferred tax asset</font></div></td><td width="2%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="1%" style="BORDER-BOTTOM:black 4px double" align="left" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">$</font></div></td><td width="8%" style="BORDER-BOTTOM:black 4px double" align="right" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">--</font></div></td><td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="2%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td><td width="1%" style="BORDER-BOTTOM:black 4px double" align="left" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">$</font></div></td><td width="8%" style="BORDER-BOTTOM:black 4px double" align="right" valign="bottom"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">--</font></div></td><td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:times new roman">  </font></td></tr></table></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:36pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-SIZE:10pt; FONT-FAMILY:Times New Roman">At September 30, 2010, the Company has net operating loss carryforwards for Federal tax purposes of approximately $3,280,000 which, if unused to offset future taxable income, will expire in years beginning in 2018.</font></div><div>           </div>
10.           INCOME TAXES The Company recognizes deferred tax assets and liabilities for temporary
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Description containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables.
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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