Income Taxes (Tables)

12 Months Ended

Jun. 30, 2018

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense for FY18 and FY17 consists of:

	Fiscal Year Ended June 30, 2018
	(in thousands)
	Current		Deferred		Total
U.S. Federal	$	—	$	—	$	—
State and Local		2		—		2
	$	2	$	—	$	2

	Fiscal Year Ended June 30, 2017
	(in thousands)
	Current		Deferred		Total
U.S. Federal	$	—	$	—	$	—
State and Local		2		—		2
	$	2	$	—	$	2

Schedule of Effective Income Tax Rate Reconciliation

The difference between income taxes computed using the statutory federal income tax rate and the Company’s effective tax rate are summarized as follows:

	June 30, 2018			June 30, 2017
	(in thousands)
Computed tax at statutory rate – continuing operations	$	336		$	328
State taxes, net of federal benefit		112			56
Loss from discontinued operations		(750	)		(464	)
Rate benefit as a LLC		91			52
Meals and entertainment		16			14
Stock-based compensation		32			22
Other permanent differences		10			—
Tax Cuts and Jobs Act Impact		1,480			—
Valuation allowance		(1,325	)		(6	)
Income tax expense	$	2		$	2

Schedule of Deferred Tax Assets and Liabilities

Components of deferred tax assets (liabilities) consist of the following:

	June 30, 2018			June 30, 2017
	(in thousands)
Deferred tax assets:
Accrued compensation	$	18		$	10
Stock-based compensation		39			44
Intangible assets		1,397			2,568
Net operating losses		1,101			1,354
Inventories		67			84
Other		6			6
Gross deferred tax assets		2,628			4,066
Valuation allowance		(2,542	)		(3,867	)
Total deferred tax assets, net of valuation allowance		86			199
Deferred tax liabilities:
Unrealized gain		(14	)		(2	)
Property and equipment		(72	)		(197	)
Total deferred tax liability		(86	)		(199	)
Net deferred taxes	$	—		$	—