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6. INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of Income tax provision from continuing operations

		Year Ended June 30,
		2017				2016
Current income tax expense (benefit):
Federal		$	16,760			$	19,343
State			800				(32,715	)
			17,560				(13,372	)
Deferred income tax expense (benefit):
Federal			440,647				350,958
State			–				–
Foreign			(83,620	)			(302,653	)
			357,027				48,305
Provision for income taxes		$	374,587			$	34,933

Schedule of effective income tax rate

		Year Ended June 30,
		2017				2016
Federal tax provision, at statutory rate of 34%		$	389,495			$	751,773
State tax, net of federal tax benefit			(50,107	)			(142,139	)
Nondeductible expenses			5,762				(16,619	)
R&D credits			(39,394	)			(43,664	)
Foreign rate difference			17,063				(33,828	)
Other			1,133				(72,803	)
Change in valuation allowance			50,635				(407,787	)
Provision for income taxes		$	374,587			$	34,933

Schedule of deferred tax assets

		June 30, 2017				June 30, 2016
Deferred tax asset:
Net operating losses		$	1,221,466			$	1,716,980
State tax			272				272
Intangibles			71,716				19,993
Tax credits			541,390				425,011
Other, net			107,903				111,732
Total deferred tax assets			1,942,747				2,273,988
Deferred tax liabilities:
Fixed asset			(30,089	)			(16,600	)
Intangibles			–				(38,535	)
Total deferred tax liabilities			(30,089	)			(55,135	)
Less valuation allowance			(250,752	)			(200,117	)
Net deferred tax asset		$	1,661,906			$	2,018,736

Schedule of unrecognized tax benefits

Balance as of June 30, 2015		$	130,464
Gross increase			38,059
Balance as of June 30, 2016			168,523
Gross increase			52,622
Balance as of June 30, 2017		$	221,145

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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
-Paragraph 9
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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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-Topic 740
-SubTopic 10
-Section 50
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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

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