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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2019
Income Tax Disclosure [Abstract] |
Schedule of Consolidated Pre-Tax Income (Loss) | Consolidated pre-tax income (loss) consists of the following:
|  | Years Ended June 30, |
|  | 2019 |  |  | 2018 |
US operations |  | $ | (1,941,611 | ) |  | $ | (1,319,680 | )
Foreign operations |  |  | 15,016,935 |  |  |  | 9,342,685 |
|  | $ | 13,075,324 |  |  | $ | 8,023,005 |
Components of Provision for Income Taxes | The components of the provision for income taxes are as follows:
|  | Years Ended June 30, |
|  | 2019 |  |  | 2018 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |
State and Local |  |  | - |  |  |  | - |
Foreign |  |  | 1,057,784 |  |  |  | 873,027 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | - |  |  |  | - |
State and Local |  |  | - |  |  |  | - |
Foreign |  |  | - |  |  |  | - |
Provision for income taxes |  | $ | 1,057,784 |  |  | $ | 873,027 |
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, |  |  |  |
|  | 2019 |  |  |  |  |  | 2018 |  |  |  |
Income tax (benefit) provision at statutory rate |  | $ | 2,745,818 |  |  |  | 21.0 | % |  | $ | 2,246,441 |  |  |  | 28.0 | %
State income (benefit) taxes, net of federal tax benefit |  |  | 912,658 |  |  |  | 7.0 | % |  |  | 510,263 |  |  |  | 6.4 | %
Foreign earnings taxed at different rates |  |  | (3,143,954 | ) |  |  | -24.0 | % |  |  | (2,337,120 | ) |  |  | -29.1 | %
Change in valuation allowance for deferred tax assets |  |  | 356,905 |  |  |  | 3 | % |  |  | 414,850 |  |  |  | 5.2 | %
Other |  |  | 186,357 |  |  |  | 1.4 | % |  |  | 38,593 |  |  |  | 0.5 | %
Provision for income taxes |  | $ | 1,057,784 |  |  |  | 8.1 | % |  | $ | 873,027 |  |  |  | 10.9 | %
Schedule of Deferred Income Tax Assets and Liabilities | Deferred income tax assets and liabilities as of June 30, 2019 and 2018 consist of tax effects of temporary differences related to the following:
|  | Years Ended June 30, |
|  | 2019 |  |  | 2018 |
Net operating loss carry forwards |  | $ | 6,994,268 |  |  | $ | 6,936,896 |
Other |  |  | 257,337 |  |  |  | 249,808 |
Net deferred tax assets |  |  | 7,251,605 |  |  |  | 7,186,704 |
Valuation allowance for deferred tax assets |  |  | (7,251,605 | ) |  |  | (7,186,704 | )
Net deferred tax assets |  | $ | - |  |  | $ | - |

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- 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 + Details
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