XML 55 R35.htm IDEA: XBRL DOCUMENT v3.19.3
Income Taxes (Tables)
12 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]  
Schedule of current and deferred income tax provision (benefit)


 

 

 

 

Continuing Ops

 

 

Discontinued Ops

 

 

 

 

 

 

Jun-19

 

 

Jun-19

 

 

Jun-19

 

 

Jun-18

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current tax provision (benefit):

 

 

 

 

 

 

 

 

 

 

 

 

Federal

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

State

 

 

9,600

 

 

 

6,400

 

 

 

3,200

 

 

 

5,600

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,600

 

 

 

6,400

 

 

 

3,200

 

 

 

5,600

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred tax provision (benefit):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

State

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total provision (benefit) for income taxes:

 

 

9,600

 

 

 

6,400

 

 

 

3,200

 

 

 

5,600

 

 

Schedule of Significant components of deferred tax assets and liabilities

 

 

 

 

 

Continuing Ops

 

 

Discontinued Ops

 

 

 

 

 

 

06/30/19

 

 

06/30/19

 

 

06/30/19

 

 

06/30/18

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred tax assets (liabilities)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Operating Loss

 

 

8,961,738

 

 

 

5,372,120

 

 

 

3,589,618

 

 

 

8,912,582

 

Accruals

 

 

-

 

 

 

-

 

 

 

-

 

 

 

51,330

 

Compensation

 

 

833,361

 

 

 

744,812

 

 

 

88,549

 

 

 

449,380

 

Inventory

 

 

469,197

 

 

 

469,197

 

 

 

-

 

 

 

102,661

 

State Tax

 

 

1,176

 

 

 

840

 

 

 

336

 

 

 

1,176

 

Bad Debt Reserve

 

 

273,072

 

 

 

273,072

 

 

 

-

 

 

 

44,660

 

Revenue

 

 

2,422,261

 

 

 

2,422,261

 

 

 

-

 

 

 

579,856

 

Contributions

 

 

17,885

 

 

 

12,456

 

 

 

5,429

 

 

 

16,689

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total gross deferred tax assets

 

 

12,978,690

 

 

 

9,294,758

 

 

 

3,683,932

 

 

 

10,158,334

 

Valuation allowance

 

 

(13,020,902)

 

 

(9,336,970)

 

 

(3,683,932)

 

 

(10,225,893)

Net deferred tax assets

 

 

(42,212)

 

 

(42,212)

 

 

-

 

 

 

(67,559)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total deferred tax liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Assets

 

 

47,753

 

 

 

47,753

 

 

 

-

 

 

 

80,374

 

Debt Discount

 

 

(5,541)

 

 

(5,541)

 

 

-

 

 

 

(12,815)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Schedule Of federal statutory income tax rate of Continuing Operation And Discontinuing Operation

 

 

 

 

 

 

 

 

Continuing Ops

 

 

Discontinued Ops

 

 

 

 

 

 

 

 

 

 

 

 

 

(18,042,474.22)

 

 

 

 

 

(18,183,975.97)

 

 

 

 

 

141,501.75

 

 

 

 

 

 

(20,194,382.00)

 

 

06/30/19

 

 

06/30/19

 

 

06/30/19

 

 

06/30/18

 

Expected tax at 21%

 

 

(3,788,920)

 

 

21.00%

 

 

(3,818,635)

 

 

21.00%

 

 

29,715

 

 

 

21.00%

 

 

(6,866,090)

 

 

34.00%

State income tax, net of federal tax

 

 

(46,988)

 

 

0.26%

 

 

(175,583)

 

 

0.97%

 

 

128,595

 

 

 

90.88%

 

 

(395,011)

 

 

1.96%

Permanent Items

 

 

43,306

 

 

 

-0.24%

 

 

 

43,306

 

 

 

-0.24%

 

 

 

-

 

 

 

0.00%

 

 

686,153

 

 

 

-3.40%

 

Results of Change in Federal Tax Rates

 

 

-

 

 

 

0.00%

 

 

-

 

 

 

0.00%

 

 

-

 

 

 

0.00%

 

 

4,731,271

 

 

 

-23.43%

 

Change in valuation allowance

 

 

3,596,320

 

 

 

-19.93%

 

 

 

3,715,783

 

 

 

-20.43%

 

 

 

(119,463)

 

 

-84.43%

 

 

 

1,967,446

 

 

 

-9.74%

 

Research Credits

 

 

-

 

 

 

0.00%

 

 

-

 

 

 

0.00%

 

 

-

 

 

 

0.00%

 

 

-

 

 

 

0.00%

State Rate True Up

 

 

278,926

 

 

 

-1.55%

 

 

 

278,926

 

 

 

-1.53%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other / True-up

 

 

(73,044)

 

 

0.40%

 

 

(37,396)

 

 

0.21%

 

 

(35,648)

 

 

-25.19%

 

 

 

(118,169)

 

 

0.59%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision (Benefit) for income taxes

 

 

9,600

 

 

 

-0.05%

 

 

 

6,400

 

 

 

-0.04%

 

 

 

3,200

 

 

 

2.26%

 

 

5,600

 

 

 

-0.03%