INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of income tax benefit

	Year Ended June 30,
	2023			2022
Current income tax (benefit) expense:
Federal	$	5,211		$	(127,998	)
State		975			975
Foreign		(4,766	)		49,843
Total Current income tax expense (benefit)		1,420			(77,180	)
Deferred income tax benefit:
Federal		(752,843	)		(876,513	)
State		(6,155	)		(83,375	)
Foreign		(129,081	)		–
		(888,079	)		(959,888	)
Benefit for income taxes	$	(886,659	)	$	(1,037,068	)

Schedule of effective income tax rate

	Year Ended June 30,
	2023			2022
Federal income tax, at statutory rate of 21% applied to (loss) earnings before income taxes and extraordinary items	$	(810,281	)	$	(982,130	)
State tax, net of federal tax benefit		15,082			(82,840	)
Nondeductible expenses		5,850			870
R&D credits		(51,415	)		(46,643	)
Global intangible low-taxed income		–			152,930
Foreign rate difference		4,743			(16,279	)
Others		(50,638	)		(62,976	)
Change in valuation allowance		–			–
Benefit for income taxes	$	(886,659	)	$	(1,037,068	)

Schedule of deferred tax assets

	June 30, 2023			June 30, 2022
Deferred tax asset:
Net operating losses	$	697,431		$	737,258
State tax		205			–
Lease accounting, net		1,359			4,299
Intangibles		735,680			156,334
Tax credits		191,544			202,958
Legal contingency expense reserve		504,000			–
Inventory reserve		123,488			155,133
Other, net		104,044			145,679
Total deferred tax assets		2,357,751			1,401,661
Deferred tax liabilities:
Deferred state taxes		(49,787	)		(46,565	)
State tax		–			205
Property and equipment, net		(1,652	)		(7,865	)
Unrealized gain (loss)		(70,797	)		–
Total deferred tax liabilities		(122,236	)		(54,225	)
Less valuation allowance		–			–
Net deferred tax asset	$	2,235,515		$	1,347,436

Schedule of unrecognized tax benefits

Balance as of June 30, 2021	$	335,259
Gross increase		29,789
Balance as of June 30, 2022		365,048
Gross increase		23,968
Balance as of June 30, 2023	$	389,016