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Income Taxes (Table)

12 Months Ended

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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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.

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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.

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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.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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