Income Taxes (Tables)

12 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of deferred tax assets and liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are presented below:

	June 30,
	2017			2016
Deferred tax assets / (liabilities)
Bad debt reserves	$	34,243		$	34,151
Inventory reserves		676,733			624,808
Accruals and allowances		269,539			148,479
License fee and other income		—			2,139
Net operating loss carryforwards		3,500,826			2,204,637
Tax credits		455,916			406,070
Stock based compensation		451,892			839,611
Deferred gain - HIFU and Labcaire		149,222			156,275
Amortization		(594,306	)		(599,802	)
Depreciation		16,030			195,048
Other		3,182			12,004
		4,963,277			4,023,420
Valuation Allowance		(628,730	)		(628,730	)
Total net deferred tax assets	$	4,334,547		$	3,394,690

Schedule of significant components of the income tax expense (benefit)

Significant components of the income tax expense (benefit) attributable to continuing operations are as follows:

	Year Ended June 30,
	2017			2016			2015
Current:
Federal	$	—		$	4,962		$	59,686
State		5,424			17,012			44,361
Total current		5,424			21,974			104,047
Deferred:
Federal		(990,016	)		(558,133	)		(2,845,039	)
State		(38,216	)		(37,192	)		(43,640	)
Total deferred		(1,028,232	)		(595,325	)		(2,888,679	)
	$	(1,022,808	)	$	(573,351	)	$	(2,784,632	)

Schedule of reconciliation of income tax expense (benefit)

The reconciliation of income tax expense (benefit) computed at the Federal statutory tax rates to income tax expense (benefit) is as follows:

	Year ended June 30,
	2017			2016			2015
Tax at federal statutory rates	$	(974,308	)	$	(646,828	)	$	856,604
State income taxes, net of federal benefit		(34,636	)		(13,319	)		29,278
Research credit		(50,000	)		(49,593	)		(70,401	)
Stock-based compensation		6,692			191,827			303,398
Deferred tax asset adjustments (1)		—			(100,939	)		—
Valuation allowance		—			—			(3,914,045	)
Travel and entertainment		34,743			35,010			21,508
Other		(5,299	)		10,491			(10,974	)
	$	(1,022,808	)	$	(573,351	)	$	(2,784,632	)