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Note 13 - Research and Development Credit
12 Months Ended
Jun. 30, 2014
Research and Development [Abstract]  
Research, Development, and Computer Software Disclosure [Text Block]

(13) Research and Development Credit


In 2013, an application for a claim of $4.4 million was made by the Company’s subsidiary, Biota Holdings Limited, under the Australian Government’s Research and Development tax incentive when Biota Holdings Limited submitted its tax return for its fiscal year ended June 30, 2012. This amount was recorded as a contingent asset as of June 30, 2012. On November 7, 2012, Biota Holdings Limited received cash for this claim. Although the credit is administered by the Australian government, it is not linked to the level of taxable income and is effectively a government grant. As such, the Company obtained an immediate benefit and therefore, the entire amount has been recognized within non-operating income in the consolidated statement of operations for the year ending June 30, 2013. For 2014, the Company will not receive a research and development credit as its revenue has exceeded the qualifying revenue threshold.