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INCOME TAXES (Tables) | 12 Months Ended
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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 |

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