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v3.25.2

Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2025
Income Taxes |
Summary of income loss before income taxes |
|  | Year Ended June 30, |
|  | 2025 |  |  | 2024 |
Pretax income (loss): |  |  |  |  |  |
United States |  | $ | (14,118,076 | ) |  | $ | (8,562,920 | )
Foreign |  |  | (717,316 | ) |  |  | 623,064 |
Loss before income taxes |  | $ | (14,835,392 | ) |  | $ | (7,939,856 | )
Summary of provision for income taxes |
|  | Year Ended June 30, |
|  | 2025 |  |  | 2024 |
Current: |  |  |  |  |  |
Federal tax |  | $ | — |  |  | $ | — |
State |  |  | 22,168 |  |  |  | 3,800 |
Foreign |  |  | 224,743 |  |  |  | 185,493 |
Total current |  |  | 246,911 |  |  |  | 189,293 |
Deferred: |  |  |  |  |  |  |  |
Federal tax |  |  | (30,752 | ) |  |  | 17,000 |
State |  |  | (5,798 | ) |  |  | — |
Foreign |  |  | (172,571 | ) |  |  | (138,803 | )
Total deferred |  |  | (209,121 | ) |  |  | (121,803 | )
Total income tax provision |  | $ | 37,790 |  |  | $ | 67,490 |
Reconciliation of income tax |
|  | Year Ended June 30, |
|  | 2025 |  |  | 2024 |
U.S. federal statutory tax rate |  |  | 21.0 | % |  |  | 21.0 | %
Income tax provision reconciliation: |  |  |  |  |  |  |  |
Tax at statutory rate: |  | $ | (3,115,433 | ) |  | $ | (1,667,370 | )
Net foreign income subject to lower tax rate |  |  | (60,104 | ) |  |  | (99,300 | )
State income taxes, net of federal benefit |  |  | (475,224 | ) |  |  | (299,233 | )
Valuation allowance |  |  | 1,879,595 |  |  |  | 1,026,000 |
NOL expiration and adjustments |  |  | 939,505 |  |  |  | 1,325,111 |
GILTI |  |  | 192,980 |  |  |  | — |
Federal research and development credit expiration |  |  | 206,467 |  |  |  | — |
Federal research and development and other credits |  |  | (225,532 | ) |  |  | (150,873 | )
Rate change |  |  | 14,759 |  |  |  | — |
Stock-based compensation |  |  | (66,682 | ) |  |  | (4,134 | )
Other permanent differences |  |  | 54,147 |  |  |  | (64,794 | )
Acquisition financing |  |  | 455,901 |  |  |  | — |
Prior year true-ups |  |  | 237,411 |  |  |  | 2,083 |
|  | $ | 37,790 |  |  | $ | 67,490 |
Deferred tax assets and liabilities |
|  | Year Ended June 30, |
|  | 2025 |  |  | 2024 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 10,086,362 |  |  | $ | 9,544,000 |
Stock-based compensation |  |  | 315,311 |  |  |  | 275,000 |
R&D and other credits |  |  | 1,954,068 |  |  |  | 1,935,000 |
Capitalized R&D expenses |  |  | 1,203,265 |  |  |  | 887,000 |
Inventories |  |  | 331,725 |  |  |  | 200,698 |
Lease liability |  |  | 2,149,965 |  |  |  | 2,096,540 |
Disallowed interest expense |  |  | 200,821 |  |  |  | 87,000 |
Accrued expenses and other |  |  | 540,585 |  |  |  | 69,000 |
Gross deferred tax assets |  |  | 16,782,102 |  |  |  | 15,094,238 |
Valuation allowance for deferred tax assets |  |  | (13,963,557 | ) |  |  | (12,083,000 | )
Total deferred tax assets |  |  | 2,818,545 |  |  |  | 3,011,238 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Depreciation and other |  |  | (321,825 | ) |  |  | (602,895 | )
Right-of-use asset |  |  | (2,212,710 | ) |  |  | (2,102,540 | )
Intangible assets |  |  | (414,199 | ) |  |  | (509,000 | )
Total deferred tax liabilities |  |  | (2,948,734 | ) |  |  | (3,214,435 | )
Net deferred tax assets (liabilities) |  | $ | (130,189 | ) |  | $ | (203,197 | )

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