Note 6 - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2016

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	US Federal		US State		UK Corporate			Total
2016
Current	$	-	$	31,000	$	(162,000	)	$	(131,000	)
Deferred		-		-		320,000			320,000
To tal	$	-	$	31,000	$	158,000		$	189,000
2015
Current	$	-	$	5,000	$	811,000		$	816,000
Deferred		-		-		6,000			6,000
Total	$	-	$	5,000	$	817,000		$	822,000

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	June 30,			June 30,
	2016			2015
Deferred tax assets:
State taxes	$	1,000		$	2,000
Net operating loss carry-forwards		2,759,000			2,768,000
Write-down of investments		1,745,000			1,736,000
Equity-based compensation		67,000			41,000
Reserves and accruals		274,000			284,000
Deferred rent		3,000			55,000
Domestic intangibles and other long-lived assets		101,000			133,000
Total deferred tax assets		4,950,000			5,019,000
Deferred tax liabilities:
Intangible and other long-lived		(546,000	)		(58,000	)
Valuation allowance		(4,939,000	)		(5,019,000	)
Net deferred tax liabilities	$	(535,000	)	$	(58,000	)

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	June 30,
	2016			2015
Taxes at federal statutory rates	$	1,272,000		$	1,301,000
State taxes, net of federal benefit		8,000			(12,000	)
Rate changes		(19,000	)		56,000
Permanent items and other		100,000			130,000
Research and development		(577,000	)		-
NOL expiration		-			4,000
Differential in UK corporate tax rate		(515,000	)		(519,000	)
Change in valuation allowance		(80,000	)		(138,000	)
Provision for income taxes	$	189,000		$	822,000