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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2023

Income Taxes

Summary of income loss before income taxes

		Year Ended June 30,
		2023				2022
Pretax income (loss):
United States		$	(5,697,853	)		$	(5,129,955	)
Foreign			1,885,016				2,450,681
Loss before income taxes		$	(3,812,837	)		$	(2,679,274	)

Summary of provision for income taxes

		Year Ended June 30,
		2023				2022
Current:
Federal tax		$	-			$	-
State			3,799				3,829
Foreign			303,235				314,063
Total current			307,034				317,892
Deferred:
Federal tax			3,000				4,000
State			-				-
Foreign			(76,000	)			541,015
Total deferred			(73,000	)			545,015
Total income tax provision		$	234,034			$	862,907

Reconciliation of income tax

		Year Ended June 30,
		2023				2022
U.S. federal statutory tax rate			21.0	%			21.0	%
Income tax provision reconciliation:
Tax at statutory rate:		$	(800,696	)		$	(562,648	)
Net foreign income subject to lower tax rate			(396,742	)			(297,049	)
State income taxes, net of federal benefit			(303,366	)			(159,950	)
Valuation allowance			(3,331,277	)			(1,255,273	)
NOL expiration and adjustments			4,015,752				2,550,645
GILTI			192,452				138,611
Federal research and development and other credits			491,112				(121,990	)
Stock-based compensation			(34,976	)			20,472
Other permanent differences			(57,762	)			11,387
Other, net			459,537				538,702
		$	234,034			$	862,907

Deferred tax assets and liabilities

		Year Ended June 30,
		2023				2022
Deferred tax assets:
Net operating loss carryforwards		$	9,243,000			$	12,197,277
Stock-based compensation			340,000				536,000
R&D and other credits			1,787,000				2,279,000
Capitalized R&D expenses			763,000				371,000
Inventories			200,000				263,973
Accrued expenses and other			15,000				267,000
Gross deferred tax assets			12,348,000				15,914,250
Valuation allowance for deferred tax assets			(11,057,000	)			(14,388,277	)
Total deferred tax assets			1,291,000				1,525,973
Deferred tax liabilities:
Depreciation and other			(740,000	)			(763,988	)
Intangible assets			(876,000	)			(1,160,000	)
Total deferred tax liabilities			(1,616,000	)			(1,923,988	)
Net deferred tax assets (liabilities)		$	(325,000	)		$	(398,015	)

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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.

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-Topic 740
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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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