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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2018

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consists of the following for the years ended June 30, 2018 and 2017:

		Years Ended June 30,
		2018				2017
Current
Federal		$	-			$	-
State			2,629				5,943
Foreign (Mexico)			37,150				29,552
Deferred
Federal			-				-
Foreign			-				-
State			-				-
Provision for income tax expense		$	39,779			$	35,495

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the effective income tax rate to the federal statutory rate is as follows:

		Years Ended June 30,
		2018				2017
Federal income tax rate			34.0	%			34.0	%
State tax, net of federal benefit			(5.0	)%			(5.0	)%
Permanent differences			2.8	%			1.6	)%
Effect of reversal of deferred tax liability			-	%			-	%
Change in valuation allowance			(34.1	)%			(32.2	)%
Other			-	%			-	%
Effective income tax rate			(2.4	)%			(1.6	)%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company's deferred tax assets and liabilities at June 30, 2018 and 2017 are as follows:

		June 30, 2018				June 30, 2017
Deferred tax assets:
Federal net operating loss carryforward		$	1,657,440			$	2,447,315
State net operating loss carryforward			387,112				527,342
Intangibles amortization			156,196				244,620
Stock based compensation			1,177,731				1,638,123
Other			165,901				234,602
Total deferred tax assets			3,544,380				5,092,002
Deferred tax liability:
Intangible Assets			-				-
Fixed asset depreciation			40,248				57,318
Net deferred tax assets			3,584,628				5,149,320
Less valuation allowance			(3,584,628	)			(5,149,320	)
		$	-			$	-

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-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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X

- 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
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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X

- Definition

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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