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INCOME TAXES (Tables) | 12 Months Ended
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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 |  |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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