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Note 14 - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2022

Notes Tables

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

		Year Ended June 30,
		2022				2021
Income tax provision/(benefit) at statutory tax rate		$	(4,961,540	)		$	5,285,909
State tax benefit			(1,544,567	)			2,829,625
Return to provision			(38	)			(161,474	)
Permanent differences			12,937				472
Transaction costs			—				73,182
Stock based compensation			100,666				77,910
Restricted stock shortfall			—				162,750
Legal fees			131,311				—
Convertible debt interest			66,463				—
162(m) Limitation			84,822				—
Other valuation allowance			5,990,215				(6,966,500	)
Income tax provision/(benefit)		$	(119,731	)		$	1,301,874

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

		Year Ended June 30,
		2022				2021
Current:
Federal		$	(261,636	)		$	915,234
State			141,905				386,640
Total current income tax expense/(benefit)		$	(119,731	)		$	1,301,874
Deferred:
Federal		$	—			$	—
State			—				—
Total deferred income tax expense		$	—			$	—

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

		Year Ended June 30,
		2022				2021
Deferred tax asset:
Investment in the Peak Gold JV		$	8,278,223			$	6,016,386
State deferred tax assets			3,503,066				1,846,393
Stock option expenses			1,425,498				1,900,850
Net operating losses			2,547,058				—
Valuation allowance			(15,753,845	)			(9,763,629	)
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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

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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
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