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7. INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2012

Income Tax Disclosure [Abstract]

Schedule of Income tax provision from continuing operations

		Year  Ended June 30,
		2012				2011
Current income tax expense (benefit):
Federal		$	(18,923	)		$	2,571,668
State			(1,034,425	)			729,694
			(1,053,348	)			3,301,362
Deferred income tax expense (benefit):
Federal			143,007				119,250
State			(8,668	)			(1,941	)
Foreign			(294,782	)			(64,876	)
			(160,443	)			52,433
Provision for income taxes		$	(1,213,791	)		$	3,353,795

Schedule of effective income tax rate

		Year Ended June 30,
		2012				%				2011				%
Federal tax provision (benefit), at statutory rate of 34%, earnings (loss) before income taxes and extraordinary items		$	(725,457	)			(34.0	)		$	2,787,569				34
State tax, net of federal tax benefit			(688,440	)			(32.3	)			480,317				5.9
Nondeductible expenses			66,692				3.1				280,185				3.4
R&D Credits			(20,125	)			(0.9	)			(66,619	)			(0.8	)
Uncertain tax position			(67,336	)			(3.2	)			20,746				0.3
Foreign rate difference			376,453				17.6				(166,426	)			(2.0	)
Other			(155,578	)			(7.3	)			18,023				0.2
Provision (benefit) for income taxes		$	(1,213,791	)			(56.9	)		$	3,353,795				41

Schedule of Deferred income taxes

		June 30, 2012				June 30, 2011
Deferred tax asset:
Net operating losses		$	1,680,163			$	1,782,062
State tax			(2,586	)			190,948
Intangibles			(193,870	)			(299,957	)
Other, net			54,262				6,097	)
Total deferred tax assets			1,537,969				1,679,150
Less valuation allowance			–				–
Net deferred tax asset		$	1,537,969			$	1,679,150

Schedule of unrecognized tax benefits

Balance as of June 30, 2010			73,431
Gross increase or (decrease)			(20,746	)
Balance as of June 30, 2011		$	94,177
Gross increase or (decrease)			6,095
Reversal of reserve on unrecognized tax benefits			(73,431	)
Balance as of June 30, 2012		$	26,841

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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.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

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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.

+ References

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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.

+ References

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Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

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