INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of benefit (provision) for income taxes

The benefit (provision) for income taxes for the years ended June 30, 2021, 2020 and 2019 is comprised of the following:

	Year ended June 30,
($ in thousands)	2021		2020		2019
Current:
Federal	$	—	$	126	$	—
State	(328)		(57)		(269)
Total current	(328)		69		(269)
Deferred:
Federal	(12)		(156)		(11)
State	(30)		86		18
Total deferred	(42)		(70)		7
Total income tax (provision) benefit	$	(370)	$	(1)	$	(262)

Schedule of income tax benefit in the provision for income taxes

A reconciliation of the benefit (provision) for income taxes for the years ended June 30, 2021, 2020 and 2019 to the indicated benefit (provision) based on income (loss) before benefit (provision) for income taxes at the federal statutory rate of 21.0% for the fiscal years ended June 30, 2021, June 30, 2020, and June 30, 2019 is as follows:

	Year ended June 30,
($ in thousands)	2021		2020		2019
Indicated benefit (provision) at federal statutory rate	$	1,648	$	8,514	$	6,671
Effects of permanent differences
Stock compensation	168		(226)		(140)
Other permanent differences	608		(106)		(76)
State income taxes, net of federal benefit	116		1,393		663
Changes related to prior years	—		489		—
Changes in valuation allowances	(2,927)		(10,139)		(7,319)
Other	17		74		(61)
	$	(370)	$	(1)	$	(262)

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)	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	46,851	$	45,670
Asset reserves	7,231		8,534
Deferred research and development	1,420		1,625
Stock-based compensation	2,620		668
Other	2,135		1,485
	60,257		57,982
Deferred tax liabilities:
Intangibles	(4,956)		(5,566)
Deferred tax assets, net	55,301		52,416
Valuation allowance	(55,480)		(52,553)
Deferred tax liabilities	$	(179)	$	(137)

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)	2021		2020		2019
Balance at the beginning of the year	$	207	$	210	$	—
Gross increases and decreases related to current period tax positions	—		—		180
Gross increases and decreases related to prior period tax positions	237		(3)		—
Accrued interest and penalties	—		—		30
Balance at the end of the year	$	444	$	207	$	210