Income Taxes (Tables)

12 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of provision (benefit) for income taxes

The provision for (benefit from) income taxes from continuing operations consists of the following amounts (in thousands): 

	Years Ended June 30,
	2015			2014
Current:
Federal	$	—		$	—
State		(44	)		3
Deferred:
Federal		—			(84	)
State		—			(23	)
Benefit from income taxes	$	(44	)	$	(104	)

Schedule of reconciliation federal statutory income tax rates

The effective income tax rate on loss from continuing operations differs from the United States statutory income tax rates for the reasons set forth in the table below (in thousands, except percentages). 

	Years Ended June 30,
	2015						2014
	Amount			Percent Pretax Income			Amount			Percent Pretax Income
Loss from continuing operations before income taxes	$	(446	)		100	%	$	(755	)		100	%
Computed “expected” income tax benefit on loss from continuing operations before income taxes	$	152			34	%	$	257			34	%
State tax, net of federal benefit		30			7	%		(10	)		(1	%)
Tax incentives		88			20	%		30			4	%
Change in valuation allowance		(227	)		(51	%)		(154	)		(21	%)
Permanent differences		—			—			(31	)		(4	%)
State income tax rate adjustment		—			—			12			2	%
Other		1			—			—			—
Income tax benefit	$	44			10	%	$	104			14	%

The total income tax expense recorded for the years ended June 30, 2015 and 2014 was as follows (in thousands): 

	June 30,
	2015			2014
Tax benefit from continuing operations	$	(44	)	$	(104	)
Tax expense from discontinued operations		—			107
	$	(44	)	$	3

Schedule of deferred income tax assets and liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at June 30, 2015 and 2014 are as follows (in thousands): 

	June 30,
	2015			2014
Deferred tax assets/(liabilities) – current:
Accrued expenses	$	385		$	253
Inventory		457			486
Other		6			—
Net operating losses		—			119
State taxes		(3	)		1
Less: valuation allowance		(775	)		(744	)
Net deferred tax assets	$	70		$	115

	June 30,
	2015			2014
Deferred tax assets/(liabilities) – non-current:
Income tax credit carry forwards	$	1,562		$	1,443
Net operating losses		1,592			1,299
Intangible assets		251			287
Deferred rent		—			132
Other		28			—
State taxes		22			16
Property and equipment, principally due to differing depreciation methods		(316	)		(458	)
Goodwill		(4	)		—
Federal impact of state taxes		(20	)		—
Share based compensation		—			16
Unrealized gain on investment		—			(85	)
Total gross deferred tax assets		3,115			2,650
Less: valuation allowance		(3,185	)		(2,765	)
Net deferred tax liabilities	$	(70	)	$	(115	)

Schedule of valuation allowance

Due to cumulative taxable losses in recent years, we have maintained a full valuation allowance against our deferred tax assets at June 30, 2015 and 2014, information related to which is as follows (in thousands):

	Valuation Allowance
Balance at July 1, 2014	$	(3,509	)
Increase in deferred tax asset valuation allowance		(451	)
Balance at June 30, 2015	$	(3,960	)

Schedule of accrual unrecognized tax benefits

Information with respect to our accrual for unrecognized tax benefits is as follows (in thousands):

	June 30,
	2015		2014
Unrecognized tax benefits:
Beginning balance	$	363	$	347
Additions based on federal tax positions related to the current year		8		21
Additions based upon state tax positions related to the current year		15		—
Additions for tax positions of prior years		13		—
Reductions for tax positions of prior years		—		(5	)
Ending balance	$	399	$	363