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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of components of income before income taxes

For financial reporting purposes, income before income taxes includes the following components:

	Year ended June 30,
	2017			2016
Pretax income:
United States	$	(485,966	)	$	1,389,111
Foreign		3,847,752			224,779
Income before income taxes	$	3,361,786		$	1,613,890

Schedule of components of the provision for income taxes

The components of the provision for income taxes are as follows:

		Year ended June 30,
		2017				2016
Current:
Federal tax		$	98,787			$	38,968
State			—				—
Foreign			1,053,617				160,307
Total current			1,152,404				199,275
Deferred:
Federal tax			(5,384,171	)			—
State			(121,000	)			—
Foreign			11,467				—
Total deferred			(5,493,704	)			—
Total income tax (benefit)		$	(4,341,300	)		$	199,275

Schedule of reconciliation of income tax computed at the U.S federal statutory rates to income tax expense

The reconciliation of income tax computed at the U.S federal statutory rates to income tax expense is as follows:

		Year ended June 30,
		2017				2016
U.S. federal statutory tax rate			34	%			34	%
Income tax provision reconciliation:
Tax at statutory rate:		$	1,143,010			$	548,722
Net foreign income subject to lower tax rate			(464,335	)			(6,235	)
State income taxes, net of federal benefit			2,418,932				(18,200	)
Valuation allowance			(8,085,000	)			182,000
Federal research and development and other credits			(118,128	)			(16,961	)
Stock-based compensation			100,469				16,759
Change in fair value of derivative warrants			158,965				17,834
Acquisiton costs			75,332				—
Other permanent differences			(43,295	)			9,726
Other, net			472,750				(534,370	)
		$	(4,341,300	)		$	199,275

Schedule of deferred tax assets and deferred tax liabilities

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are as follows at June 30: 

		2017				2016
Deferred tax  assets:
Net operating loss and credit carryforwards		$	29,014,000			$	32,440,000
Stock-based compensation			943,000				813,000
R&D and other credits			1,983,000				1,517,000
Capitalized R&D expenses			562,000				576,000
Inventory			243,000				177,000
Accrued expenses and other			407,091				492,000
Gross deferred tax  assets			33,152,091				36,015,000
Valuation allowance for deferred tax assets			(27,886,000	)			(35,971,000	)
Total deferred tax  assets			5,266,091				44,000
Deferred tax liabilities:
Depreciation and other			(1,187,440	)			(44,000	)
Intangible assets			(3,976,000	)			—
Total deferred tax liabilities			(5,163,440	)			(44,000	)
Net deferred tax asset		$	102,651			$	—

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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://www.xbrl.org/2003/role/presentationRef
-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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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://www.xbrl.org/2003/role/presentationRef
-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

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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://www.xbrl.org/2003/role/presentationRef
-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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
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