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INCOME TAXES (Tables) | 12 Months Ended
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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 |

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