Note 10 - Income Taxes: Reconciliation of income taxes at the federal statutory rate to actual income tax expense (Tables)

12 Months Ended

Jun. 30, 2015

Tables/Schedules

Reconciliation of income taxes at the federal statutory rate to actual income tax expense

A reconciliation of income taxes at the federal statutory rate to actual income tax expense is as follows:

	For the Years Ended June 30,
	2015	2014
Income tax benefit at the statutory rate	$(191,029)	$(1,189,528)
State income taxes, net of federal benefit	(18,641)	(93,462)
Foreign rate differential	-	227,613
Change in valuation allowance	195,451	381,991
Change in net operating loss carry forwards	12,489	(2,057)
Cancelation of stock options	-	643,059
Loss on sale of subsidiary	-	32,384
Other	1,730	-
Income tax expense (benefit)	$-	$-