Income Taxes (Tables)

12 Months Ended

Jun. 30, 2018

Income Tax Disclosure [Abstract]

Summary of total tax expense and effective income tax rate

	Year Ended June 30,
	2018			2017
Pretax income:
United States	$	359,027		$	(485,966	)
Foreign		(126,000	)		3,847,752
Income before income taxes	$	233,027		$	3,361,786

	Year Ended June 30,
	2018			2017
Current:
Federal tax	$	57,315		$	98,787
State		-			-
Foreign		(117,852	)		1,053,617
Total current		(60,537	)		1,152,404
Deferred:
Federal tax		(510,125	)		(5,384,171	)
State		(72,875	)		(121,000	)
Foreign		(183,540	)		11,467
Total deferred		(766,540	)		(5,493,704	)
Total income tax (benefit)	$	(827,077	)	$	(4,341,300	)

Reconciliation of income tax

	Year Ended June 30,
	2018			2017
U.S. federal statutory tax rate		27.5	%		34.0	%
Income tax provision reconciliation:
Tax at statutory rate:	$	64,082		$	1,143,010
Net foreign income subject to lower tax rate		25,927			(464,335	)
State income taxes, net of federal benefit		(107,997	)		2,418,932
Valuation allowance		(11,763,000	)		(8,085,000	)
Changes in statutory income tax rates		9,114,886			-
IRC 965 repatriation		1,809,603			-
Federal research and development and other credits		(163,165	)		(118,128	)
Stock-based compensation		43,818			100,469
Change in fair value of derivative warrants		53,524			158,965
Acquisiton costs		-			75,332
Other permanent differences		30,758			(43,295	)
Other, net		64,487			472,750
	$	(827,077	)	$	(4,341,300	)

Temporary differences

	2018			2017
Deferred tax assets:
Net operating loss and credit carryforwards	$	16,282,000		$	29,014,000
Stock-based compensation		710,000			943,000
R&D and other credits		1,899,000			1,983,000
Capitalized R&D expenses		373,000			562,000
Inventory		143,000			243,000
Accrued expenses and other		83,000			407,091
Gross deferred tax assets		19,490,000			33,152,091
Valuation allowance for deferred tax assets		(16,123,000	)		(27,886,000	)
Total deferred tax assets		3,367,000			5,266,091
Deferred tax liabilities:
Depreciation and other		(563,000	)		(1,187,440	)
Intangible assets		(2,180,000	)		(3,976,000	)
Total deferred tax liabilities		(2,743,000	)		(5,163,440	)
Net deferred tax asset	$	624,000		$	102,651