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Income Taxes (Table) | 12 Months Ended
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Jun. 30, 2021
Income Taxes [Abstract] |
Components of Income Tax (Benefit) Provision |
Year Ended June 30, |  | 2021 |  | 2020
Current: |  |  |  |  |  |
Federal |  | $ | — |  | $ | (15,037)
State |  |  | 4,125 |  |  | 3,501
Deferred |  |  | — |  |  | 13,276
Total income tax provision |  | $ | 4,125 |  | $ | 1,740
Effective Income Tax Rate Reconciliation |
Year Ended June 30, |  | 2021 |  | 2020
Federal income tax liability (benefit) at statutory rate |  | $ | 104,522 |  | $ | (97,409)
State income tax liability, net of federal income tax effect |  |  | 3,259 |  |  | 2,765
Increase in valuation allowance |  |  | 7,741,570 |  |  | 61,948
Stock option (deduction) addback |  |  | (8,326,662) |  |  | 86,541
Non-deductible offier's compensation |  |  | 657,464 |  |  | —
All other permanent items |  |  | (172,863) |  |  | (50,610)
R&D credit |  |  | (30,000) |  |  | (22,568)
Return-to-provision |  |  | (3,303) |  |  | (30,040)
Expiration of stock options and tax credits |  |  | 40,572 |  |  | 44,790
State tax rate change |  |  | (30,887) |  |  | 18,962
Other |  |  | 20,453 |  |  | (12,639)
Total income tax provision |  | $ | 4,125 |  | $ | 1,740
Schedule of Deferred Income Tax Assets and Liabilities |
|  | 2021 |  | 2020
Deferred income tax assets: |  |  |  |  |  |
Deferred compensation |  | $ | 664,705 |  | $ | 614,018
Stock-based compensation |  |  | 116,582 |  |  | 249,313
Accrued expenses and reserves |  |  | 543,940 |  |  | 479,112
Deferred revenue |  |  | 222,341 |  |  | 146,841
Federal and state net operating loss carryforwards |  |  | 8,333,391 |  |  | 606,730
Credit carryforwards |  |  | 252,192 |  |  | 216,484
Equipment and leasehold improvements |  |  | 57,639 |  |  | 134,045
Lease liability |  |  | 580,053 |  |  | 638,472
Valuation allowance |  |  | (10,185,605) |  |  | (2,444,035)
Total deferred income tax assets |  |  | 585,238 |  |  | 640,980
Deferred income tax liabilities: |  |  |  |  |  |
ROU asset |  |  | (580,053) |  |  | (638,472)
Other |  |  | (5,185) |  |  | (2,508)
Net deferred income tax assets |  | $ | - |  | $ | -
Schedule of Change in Valuation Allowance |
|  | Balance, |  | Decrease (Increase) |  |  |
|  | beginning |  | in valuation |  | Balance,
Year Ended June 30, |  | of year |  | allowance |  | end of year
2021 |  | $ | (2,444,035) |  | $ | (7,741,570) |  | $ | (10,185,605)
2020 |  | $ | (2,382,087) |  | $ | (61,948) |  | $ | (2,444,035)

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