INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of income tax benefit

	Year Ended June 30,
	2024			2023
Current income tax (benefit) expense:
Federal	$	8,659		$	5,211
State		800			975
Foreign		–			(4,766	)
Total Current income tax expense (benefit)		9,459			1,420
Deferred income tax benefit:
Federal		(891,455	)		(752,843	)
State		3,101			(6,155	)
Foreign		(70,405	)		(129,081	)
Total deferred income tax expense (benefit)		(958,759	)		(888,079	)
Benefit for income taxes	$	(949,300	)	$	(886,659	)

Schedule of effective federal statutory income tax rate to the income before provision for income taxes

	Year Ended June 30,
	2024			2023
Federal income tax, at statutory rate of 21% applied to (loss) earnings before income taxes and extraordinary items	$	(1,074,307	)	$	(810,281	)
State tax, net of federal tax benefit		2,535			15,082	)
Nondeductible expenses		63,393			5,850
R&D credits		(46,945	)		(51,415	)
Foreign rate difference		(13,450	)		4,743	)
Others		119,474			(50,638	)
Change in valuation allowance		–			–
Benefit for income taxes	$	(949,300	)	$	(886,659	)

Schedule of deferred tax assets

	June 30, 2024			June 30, 2023
Deferred tax asset:
Net operating losses	$	1,445,271		$	697,431
State tax		168			205
Lease accounting, net		2,457			1,359
Intangibles		1,330,679			735,680
Tax credits		227,706			191,544
Legal contingency expense reserve		–			504,000
Inventory reserve		19,236			123,488
Other, net		306,415			104,044
Total deferred tax assets		3,331,932			2,357,751
Deferred tax liabilities:
Deferred state taxes		(47,193	)		(49,787	)
Property and equipment, net		(80	)		(1,652	)
Unrealized gain (loss)		(100,419	)		(70,797	)
Total deferred tax liabilities		(147,692	)		(122,236	)
Less valuation allowance		–			–
Net deferred tax asset	$	3,184,240		$	2,235,515

Schedule of deferred tax assets

Balance as of June 30, 2022	$	365,048
Gross increase		23,968
Balance as of June 30, 2023		389,016
Gross increase		25,310
Balance as of June 30, 2024	$	414,326