INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of benefit (provision) for income taxes

The (provision) benefit for income taxes for the years ended June 30, 2019, 2018 and 2017 is comprised of the following:

	Year ended June 30,
($ in thousands)	2019			2018			2017 (As Restated)
Current:
Federal	$	—		$	(22	)	$	(2	)
State	(269		)	(60		)	(31		)
Total current	(269		)	(82		)	(33		)
Deferred:
Federal	(11		)	183			(58		)
State	18			—			(4		)
Total deferred	7			183			(62		)
Total income tax (provision) benefit	$	(262	)	$	101		$	(95	)

Schedule of income tax benefit in the provision for income taxes

A reconciliation of the (provision) benefit for income taxes for the years ended June 30, 2019, 2018 and 2017 to the indicated (provision) benefit based on income (loss) before (provision) benefit for income taxes at the federal statutory rate of 21.0% for the fiscal year ended June 30, 2019, 27.5% for the fiscal year ended June 30, 2018 and 34% for the fiscal year ended June 30, 2017 is as follows:

	Year ended June 30,
($ in thousands)	2019			2018			2017 (As Restated)
Indicated (provision) benefit at federal statutory rate	$	6,671		$	3,131		$	2,506
Effects of permanent differences
Stock compensation	(140		)	(46		)	—
Warrants	—			—			(507		)
Acquisition related costs	—			(759		)	—
Other permanent differences	(76		)	(157		)	(137		)
State income taxes, net of federal benefit	663			448			174
Income tax credits	—			—			60
Changes related to prior years	—			(7		)	8
Changes in valuation allowances	(7,319		)	(2,544		)	(2,199		)
Other	(61		)	35			—
	$	(262	)	$	101		$	(95	)

Schedule of deferred tax assets and liabilities

The net deferred tax assets arose primarily from net operating loss carryforwards, as well as the use of different accounting methods for financial statement and income tax reporting purposes as follows:

	As of June 30,
($ in thousands)	2019			2018
Deferred tax assets:
Net operating loss carryforwards	$	38,486		$	35,562
Asset reserves	7,211			4,906
Deferred research and development	1,448			1,084
Stock-based compensation	418			661
Other	983			778
	48,546			42,991
Deferred tax liabilities:
Intangibles	(6,203		)	(6,864		)
Deferred tax assets, net	42,343			36,127
Valuation allowance	(42,414		)	(36,194		)
Deferred tax liabilities, net of allowance	$	(71	)	$	(67	)

Summary of activity related to unrecognized income tax benefits

The following table summarizes the activity related to unrecognized income tax benefits:

	Year ended June 30,
($ in thousands)	2019		2018		2017
Balance at the beginning of the year	$	—	$	—	$	—
Gross increases and decreases related to current period tax positions	180		—		—
Accrued interest and penalties	30		—		—
Balance at the end of the year	$	210	$	—	$	—