INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of benefit (provision) for income taxes

The provision for income taxes for the years ended June 30, 2022, 2021 and 2020 is comprised of the following:

	Year ended June 30,
($ in thousands)	2022		2021		2020
Current:
Federal	$	—	$	—	$	126
State	(179)		(328)		(57)
Total current	(179)		(328)		69
Deferred:
Federal	(18)		(12)		(156)
State	11		(30)		86
Total deferred	(7)		(42)		(70)
Total income tax provision	$	(186)	$	(370)	$	(1)

Schedule of income tax benefit in the provision for income taxes

A reconciliation of the provision for income taxes for the years ended June 30, 2022, 2021 and 2020 to the indicated provision based on income (loss) before the provision for income taxes at the federal statutory rate of 21.0% for the fiscal years ended June 30, 2022, June 30, 2021, and June 30, 2020 is as follows:

	Year ended June 30,
($ in thousands)	2022		2021		2020
Indicated benefit at federal statutory rate	$	319	$	1,648	$	8,514
Effects of permanent differences
Stock compensation	(184)		168		(226)
Other permanent differences	(106)		608		(106)
State income taxes, net of federal benefit	(275)		116		1,393
Changes related to prior years	—		—		489
Changes in valuation allowances	184		(2,927)		(10,139)
Other	(124)		17		74
Provision for income taxes	$	(186)	$	(370)	$	(1)

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)	2022		2021
Deferred tax assets:
Net operating loss carryforwards	$	47,984	$	46,851
Asset reserves	6,666		7,231
Deferred research and development	1,503		1,420
Stock-based compensation	3,416		2,620
Other	(143)		2,135
	59,426		60,257
Deferred tax liabilities:
Intangibles	(4,316)		(4,956)
Deferred tax assets, net	55,110		55,301
Valuation allowance	(55,296)		(55,480)
Deferred tax liabilities	$	(186)	$	(179)

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)	2022		2021		2020
Balance at the beginning of the year	$	444	$	207	$	210
Gross increases and decreases related to current period tax positions	—		—		—
Gross increases and decreases related to prior period tax positions	128		237		(3)
Balance at the end of the year	$	572	$	444	$	207