INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Schedule of benefit (provision) for income taxes

($ in thousands)	2016			2015			2014
Current:
Federal	$	(7	)	$	(58	)	$	(21	)
State		(38	)		(6	)		-
		(45	)		(64	)		(21	)
Deferred:
Federal		407			365			20,970
State		253			(590	)		6,306
		660			(225	)		27,276
	$	615		$	(289	)	$	27,255

Schedule of income tax benefit in the provision for income taxes

($ in thousands)	2016			2015			2014
Indicated benefit (provision) at federal statutory rate of 34%	$	2,523		$	272		$	(94	)
Effects of permanent differences		(2,040	)(A)		(215	)		(8	)
State income taxes, net of federal benefit		199			(410	)		(18	)
Income tax credits		70			40			-
Changes related to prior years		-			187			-
Changes in valuation allowances		(137	)		(163	)		27,375
	$	615		$	(289	)	$	27,255

(A) Increase in the effects of permanent differences due to the tax effect of the change in fair value of warrant liabilities in 2016

Schedule of deferred tax assets and liabilities

	June 30,
($ in thousands)	2016			2015
Deferred tax assets:
Net operating loss carryforwards	$	46,691		$	46,919
Asset reserves		1,713			792
Deferred research and development costs		1,356			1,009
Intangibles		539			606
Deferred gain on assets under sale-leaseback transaction		331			632
Stock-based compensation		377			224
Other		379			437
		51,386			50,619
Deferred tax liabilities:
Fixed assets		(528	)		(492	)
Intangibles and goodwill		-			(84	)
Deferred tax assets, net		50,858			50,043
Valuation allowance		(23,134	)		(22,997	)
Deferred tax assets (liabilties), net of allowance		27,724			27,046
Less current portion		2,271			1,258
Deferred tax assets (liabilties), non-current	$	25,453		$	25,788