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INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

The Company has incurred losses since inception, so no current income tax provision or benefit has been recorded. Significant components of the Company’s net deferred tax assets are shown in the table below.

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES 

		Year Ended June 30,
		2022				2021
Deferred Tax Assets:
Net operating loss carryforwards		$	20,654,000			$	16,111,000
Research & development credit carryforward			27,000				27,000
Stock compensation			1,636,000				1,696,000
Interest expense Sec. 163			-				366,000
Lease liability			802,000				924,000
Other, net			559,000				564,000
Gross deferred tax assets			23,678,000				19,688,000
Valuation allowance for deferred tax assets			(22,951,000	)			(18,839,000	)
Total deferred tax assets		$	727,000			$	849,000
Deferred Tax Liabilities:
Right of use asset		$	(727,000	)		$	(849,000	)
Total deferred tax liabilities			(727,000	)			(849,000	)
Net deferred tax liabilities		$	-			$	-

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION

The provision for income taxes on earnings subject to income taxes differs from the statutory federal rate at June 30, 2022 and 2021, due to the following:

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION 

		Year Ended June 30,
		2022				2021
Federal income taxes at 21%		$	(3,278,000	)		$	(2,686,000	)
State income taxes, net			(1,090,000	)			(894,000	)
Permanent differences and other			102,000				(58,000	)
Other true ups, if any			154,000				(27,000	)
Change in valuation allowance			(4,112,000	)			(3,665,000	)
Provision for income taxes		$	-			$	-

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- References

No definition available.

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- 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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

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- 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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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