NOTE 11 - INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Components Of Current (Benefit) Provision For Income Taxes

Components of the current benefit for income taxes are as follows:

	Years Ended June 30,
	2015			2014			2013
Current:
Federal	$	114,683		$	310,000		$	125,000
State		29,313			24,093			71,001
Federal deferred taxes		(2,353,124	)		(2,280,044	)		(2,336,454	)
State deferred taxes		(403,393	)		(402,361	)		(137,438	)
	$	(2,612,521	)	$	(2,348,312	)	$	(2,277,891	)

Reconciliation Of Federal Statutory Income Tax Rate To Company's Effective Tax Rate

A reconciliation of the federal statutory income tax rate to the Company's effective tax rate as reported is as follows:

	Years Ended June 30,
	2015			2014			2013
Taxes at federal statutory rate		35.0	%		34.0	%		34.0	%
State and local income taxes (benefit), net of federal benefit		6.0	%		6.0	%		6.0	%
Permanent differences		0.2	%		(0.9	)%		0.6	%
(Decrease) increase in the valuation allowance		(65.4	)%		(65.5	)%		(73.2	)%
True ups		(3.2	)%		(2.8	)%		(3.0	)%
Effective income tax rate		(27.4	)%		(29.2	)%		(35.6	)%

Components Of Company's Deferred Tax Assets And Liabilities

Significant components of the Company's deferred tax assets and liabilities at June 30, 2015 and 2014 are as follows:

	June 30,
	2015			2014
Deferred tax assets:
Allowance for doubtful accounts	$	6,607,107		$	6,961,016
Non-deductible accruals		115,346			65,108
Net operating carryforwards		49,170,420			54,900,136
Tax credits		6,751,692			5,644,097
Property and equipment and depreciation		111,190			195,408
Inventory		1,093,401			130,822
		63,849,156			67,896,587
Valuation allowance		(55,425,850	)		(62,156,300	)
Total deferred tax assets		8,423,306			5,740,287
Capitalized software development costs		(510,492	)		(583,990	)
Total deferred tax liabilities		(510,492	)		(583,990	)
Net deferred tax asset	$	7,912,814		$	5,156,297