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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2018
Income Tax Disclosure [Abstract] |
Schedule of Consolidated Pre-Tax Income (Loss) | Consolidated pre-tax income (loss) consists of the following:
|  | Years Ended June 30, |
|  | 2018 |  |  | 2017 |
US operations |  | $ | (1,319,680 | ) |  | $ | (5,255,124 | )
Foreign operations |  |  | 9,342,685 |  |  |  | 4,450,639 |
|  | $ | 8,023,005 |  |  | $ | (804,485 | )
Components of Provision for Income Taxes | The components of the provision for income taxes are as follows:
|  | Years Ended June 30, |
|  | 2018 |  |  | 2017 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |
State and Local |  |  | - |  |  |  | - |
Foreign |  |  | 873,027 |  |  |  | 931,951 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | - |  |  |  | - |
State and Local |  |  | - |  |  |  | - |
Foreign |  |  | - |  |  |  | - |
Provision for income taxes |  | $ | 873,027 |  |  | $ | 931,951 |
Schedule of Reconciliation of Taxes at Statutory Federal Income Tax Rate Income Tax Expense Benefits | A reconciliation of taxes computed at the statutory federal income tax rate to income tax expense (benefit) is as follows:
|  | Years Ended June 30, |  |  |  |
|  | 2018 |  |  |  |  |  | 2017 |  |  |  |
Income tax (benefit) provision at statutory rate |  | $ | 2,246,441 |  |  |  | 28.0 | % |  | $ | (281,570 | ) |  |  | 35.0 | %
State income (benefit) taxes, net of federal tax benefit |  |  | 510,263 |  |  |  | 6.4 | % |  |  | (46,258 | ) |  |  | 5.8 | %
Foreign earnings taxed at different rates |  |  | (2,337,120 | ) |  |  | -29.1 | % |  |  | (625,773 | ) |  |  | 77.8 | %
Change in valuation allowance for deferred tax assets |  |  | 414,850 |  |  |  | 5 | % |  |  | 1,340,938 |  |  |  | -166.7 | %
Other |  |  | 38,593 |  |  |  | 0.5 | % |  |  | 544,614 |  |  |  | -67.7 | %
Provision for income taxes |  | $ | 873,027 |  |  |  | 10.9 | % |  | $ | 931,951 |  |  |  | -115.8 | %
Schedule of Deferred Income Tax Assets and Liabilities | Deferred income tax assets and liabilities as of June 30, 2018 and 2017 consist of tax effects of temporary differences related to the following:
|  | Years Ended June 30, |
|  | 2018 |  |  | 2017 |
Net operating loss carry forwards |  | $ | 6,936,896 |  |  | $ | 16,365,908 |
Other |  |  | 249,808 |  |  |  | 397,429 |
Net deferred tax assets |  |  | 7,186,704 |  |  |  | 16,763,337 |
Valuation allowance for deferred tax assets |  |  | (7,186,704 | ) |  |  | (16,763,337 | )
Net deferred tax assets |  | $ | - |  |  | $ | - |

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