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Note 11 - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2018

Notes Tables

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Year Ended June 30,
		2018				2017
Income tax benefit at statutory tax rate			(1,736,580	)		$	(992,759	)
State tax benefit			(498,648	)			(175,228	)
Permanent differences			(81,455	)			30,213
Stock based compensation			(251,074	)			(41,218	)
Impact of federal rate change			4,868,970				—
Valuation allowance for remeausurement and changes relating to the Tax Cuts and Jobs Act			(4,868,970	)			—
Other valuation allowance			2,567,757				1,178,992
Income tax provision/(benefit)		$	—			$	—

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Year Ended June 30,
		2018				2017
Current:
Federal		$	—			$	—
State		$	—			$	—
Deferred:
Federal		$	—			$	—
State		$	—			$	—

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		Year Ended June 30,
		2018				2017
Deferred tax asset:
Investment in the Joint Venture Company		$	5,851,376			$	8,747,508
State deferred tax assets			3,122,042				2,118,225
Stock option expenses			523,249				125,855
Net operating losses			2,454,203				3,260,495
Valuation allowance			(11,950,870	)			(14,252,083	)
Net deferred tax assets		$	—			$	—

X

- 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

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-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

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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
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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

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