Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes

Summary of Domestic and foreign Components of Loss Before Taxes

	Year Ended December 31,			Six Months Ended  December 31,			Year Ended June 30,
	2023			2022			2022
U.S. operations	$	(5,352,700	)	$	(3,285,900	)	$	(8,985,600	)
Non-U.S. operations		(3,737,100	)		(787,200	)		(2,296,100	)
Total loss before taxes	$	(9,089,800	)	$	(4,073,100	)	$	(11,281,700	)

Summary of Provision for Income Taxes

	Year Ended December 31,		Six Months  Ended December 31,		Year Ended June 30,
	2023		2022		2022
U.S. federal taxes:
Current	$	-	$	-	$	(99,200	)
Deferred		-		-		1,693,700
Non-U.S. taxes:		-		-		-
Current		-		-		-
Deferred		-		-		800,300
Total provision for income taxes	$	-	$	-	$	2,394,800

Income tax reconciliation

	Year Ended December 31,			Six Months Ended December 31,			Year Ended June 30,
	2023			2022			2022
Computed "expected" income tax benefit	$	(1,908,900	)	$	(855,400	)	$	(2,369,200	)
Research and development credits		(9,400	)		(49,600	)		(99,200	)
Incentive Stock Option Expense		73,300			36,600			64,300
PPP Loan Forgiveness		-			-			(91,100	)
Valuation allowance		2,883,700			1,302,600			5,116,000
Aquila Biolabs GmbH operating loss		(1,150,800	)		(245,700	)		(717,100	)
Return to provision and other true-ups		112,100			(187,800	)		-
Other, net		-			(700	)		491,100
Income tax expense	$	-		$	-		$	2,394,800

Deferred tax assets and liabilities

	As of December 31,			As of December 31,			As of June 30,
Deferred tax assets:	2023			2022			2022
Amortization of intangible assets, including goodwill	$	106,300		$	377,800		$	326,600
Research and development credits		426,400			416,900			367,400
Goodwill impairment		898,800			898,800			898,800
Capitalized research and development expenses		957,900			276,900			-
Various accruals		103,300			92,200			50,400
Stock options expense		1,486,400			1,047,600			710,500
Net operating loss		5,383,200			3,353,100			2,769,400
Other		27,200			57,600			52,900
Subtotal	$	9,389,500		$	6,520,900		$	5,176,000
Deferred tax liability:
Depreciation of property		(87,200	)		(102,300	)		(60,000	)
Less valuation allowance		(9,302,300	)		(6,418,600	)		(5,116,000	)
Net deferred tax assets	$	-		$	-		$	-