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Income Taxes (Tables)

9 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Reconciliation of Income Taxes

The following table reflects the reconciliation for the respective periods:

		Years Ended June 30,								March 31, 2015
		2014				2013
										(unaudited)
Benefit at federal statutory rate			(34.00	)%			(34.00	)%			(34.00	)%
State, net of federal income tax benefit			(2.89	)%			(2.85	)%			(2.89	)%
Stock-based compensation			1.84	%			2.31	%			1.79	%
Change in valuation allowance			22.29	%			10.26	%			34.65	%
Other			0.03	%			0.0	%			0.03	%
Effective tax rate			(12.73	)%			(24.28	)%			(0.42	)%

Schedule of Deferred Tax Assets and Liabilities

The approximate tax effects of significant temporary differences which comprise the deferred tax assets and liabilities are as follows for the respective periods:

		2014				2013				Nine Months Ended March 31, 2015
										(unaudited)
Current deferred income tax asset:
Deferred revenue short-term		$	32,000			$	18,000			$	31,000
Valuation allowance			(13,000	)			(3,000	)			(18,000	)
Total current deferred income tax asset			19,000				15,000				13,000
Long-term deferred income tax assets (liabilities):
Net operating loss carryforward			3,847,000				1,704,000				5,688,000
Section 197 intangible			482,000				515,000				458,000
Deferred revenue long-term			190,000				132,000				166,000
Share-based compensation expense			80,000				22,000				249,000
Acquired patents			—				—				—
Acquired in-process research and development			(2,779,000	)			(2,779,000	)			(2,779,000	)
Less: Valuation allowance			(1,863,000	)			(447,000	)			(3,795,000	)
Total long-term deferred income tax assets (liabilities)			(43,000	)			(853,000	)			(13,000	)
Total deferred income tax assets (liabilities)		$	(24,000	)		$	(838,000	)		$	—

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- References

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- Definition

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 740



-SubTopic 10



-Section 50



-Paragraph 2



-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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- Definition

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 740



-SubTopic 10



-Section 50



-Paragraph 12



-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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