10-Q/A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

____________

FORM 10-Q/A

(Amendment No. 1)

X Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended December 31, 2013

OR

Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from to

Commission File Number 001-31668

INTEGRATED BIOPHARMA, INC.

(Exact name of registrant, as specified in its charter)

Delaware	22-2407475
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

225 Long Ave., Hillside, New Jersey	07205
(Address of principal executive offices)	(Zip Code)

(888) 319-6962

(Registrant’s telephone number, including Area Code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer o Accelerated filer o Non-accelerated filer o Smaller reporting company þ

Indicate by check whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes o No x

Applicable only to Corporate Issuers:

The number of shares outstanding of each of the issuer’s class of common stock, as of the latest practicable date:

Class	Outstanding at February 12, 2014
Common Stock, $0.002 par value	21,080,174 Shares

Explanatory Statement

This Amendment No. 1 on Form 10-Q/A amends Integrated BioPharma, Inc.'s Quarterly Report on Form 10-Q for the quarter ended December 31, 2013 (the “Form 10-Q”) which was filed with the Securities and Exchange Commission on February 12, 2014, solely to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T.  Exhibit 101 consists of certain materials from the Form 10-Q, formatted in XBRL (eXtensible Business Reporting Language).

This Amendment No. 1 does not include the entire Form 10-Q except as described in this explanatory note. This Amendment No. 1 does not amend any other information set forth in the original filing.

Pursuant to Rule 406T of Regulation S-T, the interactive data files attached as Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

PART II - OTHER INFORMATION

Item 6. EXHIBITS

Exhibits

Exhibit Number

31.1*                      Certification of pursuant to Section 302 of Section 302 of the Sarbanes-Oxley Act of 2002 by ChiefExecutive Officer.

31.2*                      Certification of pursuant to Section 302 of Section 302 of the Sarbanes-Oxley Act of 2002 by ChiefFinancial Officer.

32.1*                      Certification of periodic financial report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 byChief Executive Officer.

32.2*                      Certification of periodic financial report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 byChief Financial Officer.

101**                      The following financial information from Integrated BioPharma, Inc.’s Quarterly Report on Form 10-Qfor the quarter ended December 31, 2013, formatted in XBRL (eXtensible Business ReportingLanguage): (i) Condensed Consolidated Statements of Operations for the three and six months ended December 31, 2013 and 2012, (ii) Condensed Consolidated Balance Sheets as of December 31, 2013 and June 30, 2013, (iii) Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2013 and 2012, and (iv) the Notes to Condensed Consolidated Statements.

* Previously filed with the Company’s quarterly report on Form 10-Q for the period ended December 31, 2013, filed with the Securities and Exchange Commission on February 12, 2014.

** Furnished herewith. XBRL (eXtensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

INTEGRATED BIOPHARMA, INC.

Date: February 13, 2014	By: /s/ E. Gerald Kay
	E. Gerald Kay,
	President and Chief Executive Officer

Date: February 13, 2014	By: /s/ Dina L. Masi
	Dina L. Masi,
	Chief Financial Officer & Senior Vice President

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Note 9 - Segment Information (Details) - Operations by Business Segment (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Gross Profit	$ 1,469	$ 1,139	$ 3,066	$ 2,704
Depreciation	66	71	135	144
Capital Expenditures			29	8
Operating Segments [Member] | Contract Manufacturing [Member] | U. S. Customers [Member]
Segment Reporting Information [Line Items]
Sales, Net	4,973	3,521	10,402	8,397
Operating Segments [Member] | Contract Manufacturing [Member] | International Customers [Member]
Segment Reporting Information [Line Items]
Sales, Net	2,819	2,709	5,681	4,913
Operating Segments [Member] | Contract Manufacturing [Member]
Segment Reporting Information [Line Items]
Sales, Net	7,792	6,230	16,083	13,310
Gross Profit	1,208	841	2,574	1,937
Depreciation	63	66	129	132
Capital Expenditures	103		103	8
Operating Segments [Member] | Branded Proprietary Products [Member] | U. S. Customers [Member]
Segment Reporting Information [Line Items]
Sales, Net	130	403	262	990
Operating Segments [Member] | Branded Proprietary Products [Member] | International Customers [Member]
Segment Reporting Information [Line Items]
Sales, Net	322	391	482	635
Operating Segments [Member] | Branded Proprietary Products [Member]
Segment Reporting Information [Line Items]
Sales, Net	452	794	744	1,625
Gross Profit	107	222	164	544
Depreciation	1	1	1	5
Operating Segments [Member] | Other Nutraceutical Business [Member] | U. S. Customers [Member]
Segment Reporting Information [Line Items]
Sales, Net	515	845	1,059	346
Operating Segments [Member] | Other Nutraceutical Business [Member] | International Customers [Member]
Segment Reporting Information [Line Items]
Sales, Net	29	95	93	25
Operating Segments [Member] | Other Nutraceutical Business [Member]
Segment Reporting Information [Line Items]
Sales, Net	544	940	1,152	371
Gross Profit	154	223	328	76
Depreciation	2	7	5	4
Capital Expenditures	2		2
Operating Segments [Member] | U. S. Customers [Member]
Segment Reporting Information [Line Items]
Sales, Net	5,618	4,270	11,723	10,232
Operating Segments [Member] | International Customers [Member]
Segment Reporting Information [Line Items]
Sales, Net	3,170	3,125	6,256	5,643
Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales, Net	8,788	7,395	17,979	15,875
Gross Profit	1,469	1,139	3,066	2,704
Depreciation	66	71	135	144
Capital Expenditures	$ 105		$ 105	$ 8

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Note 5 - Senior Credit Facility, Subordinated Convertible Note Payable, Net - CD Financial, LLC and other Long Term Debt (Details) - Calculate of Fair Value of Derivative Liability (USD $)	6 Months Ended
	Dec. 31, 2013	Jun. 30, 2013	Jun. 27, 2012
Note 5 - Senior Credit Facility, Subordinated Convertible Note Payable, Net - CD Financial, LLC and other Long Term Debt (Details) - Calculate of Fair Value of Derivative Liability [Line Items]
Closing Price of Common Stock (in Dollars per share)	$ 0.19	$ 0.15	$ 0.09
Derivative [Member]
Note 5 - Senior Credit Facility, Subordinated Convertible Note Payable, Net - CD Financial, LLC and other Long Term Debt (Details) - Calculate of Fair Value of Derivative Liability [Line Items]
Risk Free Interest Rate	0.78%	0.66%	0.72%
Volatility	102.10%	118.50%	144.10%
Term (years)	3 years 6 months	4 years	5 years
Dividend Rate	0.00%	0.00%	0.00%

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Note 2 - Inventories (Details) - Inventory (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Jun. 30, 2013
Inventory [Abstract]
Raw materials	$ 3,077	$ 2,512
Work-in-process	871	1,979
Finished goods	1,852	1,940
Total	$ 5,800	$ 6,431

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Note 8 - Related Party Transactions (Details) (USD $) In Millions, unless otherwise specified	Oct. 31, 2013
Related Party Transactions [Abstract]
Guarantor Obligations, Current Carrying Value	$ 1.0

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Note 4 - Property and Equipment, Net

6 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 4. Property and Equipment, net

Property and equipment, net consists of the following as of:

	December 31, 2013			June 30, 2013
Land and building	$	1,250		$	1,250
Leasehold improvements		1,138			1,132
Machinery and equipment		4,945			4,918
Transportation equipment		59			59
		7,392			7,359
Less: Accumulated depreciation and amortization		(6,187	)		(6,124	)
Total	$	1,205		$	1,235

Depreciation and amortization expense was $66 and $71 for the three months ended December 31, 2013 and 2012, respectively and $135 and $144 for the six months ended December 31, 2013 and 2012, respectively. In the three and six months ended December 31, 2013, the Company traded in property and equipment with an original cost of $76 for a cash discount of $4 on the replacement property, resulting in a gain on disposal of $4. In the three and six months ended December 31, 2012, the Company disposed of property and equipment with an original cost of $188 for net proceeds of $18.

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Note 4 - Property and Equipment, Net (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Abstract]
Depreciation	$ 66	$ 71	$ 135	$ 144
Property, Plant and Equipment, Disposals	76	188	76	188
Cash Discount on Property	4		4
Gain (Loss) on Sale of Properties	4		4
Proceeds from Sale of Property, Plant, and Equipment		$ 18		$ 18

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Note 3 - Intangible Assets, Net (Details) - Estimated Annual Amortization Expense for Intangible Assets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Jun. 30, 2013
Estimated Annual Amortization Expense for Intangible Assets [Abstract]
2014, remaining	$ 68
2015	137
2016	104
2017	97
2018	97
2019	97
Thereafter	348
Total	$ 948	$ 1,017

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Note 4 - Property and Equipment, Net (Details) - Property and Equipment, Net (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Jun. 30, 2013
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	$ 7,392	$ 7,359
Less: Accumulated depreciation and amortization	(6,187)	(6,124)
Total	1,205	1,235
Land and Building [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	1,250	1,250
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	1,138	1,132
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	4,945	4,918
Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	$ 59	$ 59

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Note 5 - Senior Credit Facility, Subordinated Convertible Note Payable, Net - CD Financial, LLC and other Long Term Debt (Details) (USD $)	5 Months Ended	12 Months Ended			6 Months Ended				1 Months Ended									6 Months Ended		5 Months Ended	6 Months Ended
	Dec. 31, 2013	Jun. 30, 2013	Oct. 31, 2013	Jun. 27, 2012	Dec. 31, 2013 Scenario, Event of Default [Member] Term Loan [Member]	Jun. 27, 2012 Default Rate [Member] CD Financial LLC [Member]	Jun. 27, 2012 E Gerald Kay [Member] Vitamin Realty LLC [Member]	Dec. 31, 2013 iBio, Inc. [Member]	Oct. 31, 2013 PNC Bank [Member]	Jun. 27, 2012 CD Financial LLC [Member] Promissory Note [Member]	Dec. 31, 2013 CD Financial LLC [Member]	Jun. 30, 2013 CD Financial LLC [Member]	Jun. 27, 2012 CD Financial LLC [Member]	Feb. 21, 2008 CD Financial LLC [Member]	Dec. 31, 2013 Vitamin Realty LLC [Member] E Gerald Kay [Member]	Dec. 31, 2013 Vitamin Realty LLC [Member]	Dec. 31, 2013 E Gerald Kay [Member]	Dec. 31, 2013 Term Loan [Member]	Jun. 30, 2013 Term Loan [Member]	Dec. 31, 2013 Revolving Advances [Member]	Dec. 31, 2013 Revolving Credit Facility [Member]	Jun. 30, 2013 Revolving Credit Facility [Member]	Jun. 27, 2012 Revolving Credit Facility [Member]
Note 5 - Senior Credit Facility, Subordinated Convertible Note Payable, Net - CD Financial, LLC and other Long Term Debt (Details) [Line Items]
Senior Notes (in Dollars)				$ 11,727,000
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)																							8,000,000
Loans Payable, Noncurrent (in Dollars)				3,727,000
Debt Instrument, Basis Spread on Variable Rate																		3.25%			2.75%
Line of Credit Facility, Interest Rate at Period End																		3.75%	3.75%		3.25%	3.25%
Debt Instrument, Interest Rate, Increase (Decrease)					2.00%
Debt Instrument, Periodic Payment (in Dollars)	44,000
Line of Credit Facility, Covenant, Maximum Aggregate Revolving Advance (in Dollars)																				8,000,000
Line of Credit Facility, Covenant, Aggregate Revolving Advance, Receivables Advance Rate																				85.00%
Line of Credit Facility, Covenant, Aggregate Revolving Advance, Inventory Advance Rate																				65.00%
Line of Credit Facility, Covenant, Aggregate Revolving Advance, Percentage of Appraised Net Orderly Liquidation Value of Eligible Inventory																				85.00%
Line of Credit Facility, Covenant, Prepayment Provisions, Percentage of Excess Cashflow																				50.00%
Loan Agreement, Mandatory Repayment Amount (in Dollars)																				1,000,000
Share Price (in Dollars per share)	$ 0.19	$ 0.15		$ 0.09				$ 0.88
Prepayment of Loans Outstanding (in Dollars)									293,000
Guarantor Obligations, Maximum Exposure, Undiscounted (in Dollars)			1,000,000
Minimum EBITDA (in Dollars)		1,500,000
Debt Instrument, Interest Rate, Stated Percentage						10.00%							6.00%	9.50%	4.00%
Debt Instrument, Face Amount (in Dollars)										1,714,000				4,500,000		686,000	27,000
Convertible Notes Payable (in Dollars)													5,350,000
Debt Instrument, Convertible, Conversion Price (in Dollars per share)													$ 0.65
Embedded Derivative, Fair Value of Embedded Derivative Liability (in Dollars)											$ 687,000	$ 696,000
Related Party Transaction, Related Party Investment, Ownership Percentage							90.00%

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Note 3 - Intangible Assets, Net

6 Months Ended

Dec. 31, 2013

Disclosure Text Block [Abstract]

Intangible Assets Disclosure [Text Block]

Note 3. Intangible Assets, net 

Intangible assets consist of trade names, license fees from the Branded Proprietary Products Segment, and unpatented technology from the Other Nutraceutical Businesses Segment. The carrying amount of intangible assets, net is as follows as of:

	December 31, 2013						June 30, 2013
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Trade names and patents	$	1,525	$	777	$	748	$	1,525	$	739	$	786
Unpatented technology		547		480		67		547		460		87
License agreement		347		214		133		347		203		144
Total	$	2,419	$	1,471	$	948	$	2,419	$	1,402	$	1,017

Amortization expense recorded on intangible assets for each of the three and six months ended December 31, 2013 and 2012 was $34 and $69, respectively. Amortization expense is recorded on the straight-line basis over periods ranging from 10 years to 20 years based on contractual or estimated lives and is included in selling and administrative expenses.

The estimated annual amortization expense for intangible assets for the five succeeding fiscal years is as follows:

Year ending June 30,	Amortization Expense
2014, remaining	$	68
2015		137
2016		104
2017		97
2018		97
2019		97
Thereafter		348
Total	$	948

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Note 5 - Senior Credit Facility, Subordinated Convertible Note Payable, Net - CD Financial, LLC and other Long Term Debt (Details) - Debt Outstanding (USD $) In Thousands, unless otherwise specified					6 Months Ended			6 Months Ended			6 Months Ended			6 Months Ended			6 Months Ended			6 Months Ended
	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2013 PNC Bank [Member]	Jun. 30, 2013 PNC Bank [Member]	Dec. 31, 2013 PNC Bank [Member] Maximum [Member]	Dec. 31, 2013 CD Financial LLC [Member]	Jun. 30, 2013 CD Financial LLC [Member]	Dec. 31, 2013 CD Financial LLC [Member] Maximum [Member]	Dec. 31, 2013 Vitamin Realty LLC [Member]	Jun. 30, 2013 Vitamin Realty LLC [Member]	Dec. 31, 2013 Vitamin Realty LLC [Member] Maximum [Member]	Dec. 31, 2013 E Gerald Kay [Member]	Jun. 30, 2013 E Gerald Kay [Member]	Dec. 31, 2013 E Gerald Kay [Member] Maximum [Member]	Dec. 31, 2013 Acura Financial Services [Member]	Jun. 30, 2013 Acura Financial Services [Member]	Dec. 31, 2013 Acura Financial Services [Member] Maximum [Member]	Dec. 31, 2013 Convertible Debt [Member]	Jun. 30, 2013 Convertible Debt [Member]	Dec. 31, 2013 Minimum [Member]	Dec. 31, 2013 Maximum [Member] Convertible Debt [Member]	Dec. 31, 2013 Maximum [Member]
Note 5 - Senior Credit Facility, Subordinated Convertible Note Payable, Net - CD Financial, LLC and other Long Term Debt (Details) - Debt Outstanding [Line Items]
Revolving advances under Senior Credit Facility with PNC Bank, National Association	$ 4,234	$ 4,543
Current portion of long term debt	(598)	(868)
Revolving advances under Senior Credit Facility with PNC Bank, National Association																						3.25%
Revolving advances under Senior Credit Facility with PNC Bank, National Association																						Jun. 27, 2017
Principal Amount			2,679	3,239		1,714	1,714		686	686		27	27		28	32		5,350	5,350
Interest Rate					3.75%			6.00%			4.00%			4.00%			1.90%				6.00%
Maturity Date					6/27/2017			7/7/2017			7/7/2017			7/7/2017			4/15/2017				7/7/2017
Unamortized discount for embedded derivative	(395)	(449)
Convertible Note payable, net - CD Financial, LLC	4,955	4,901
Total outstanding debt	9,479	10,299
Less: Revolving Advances	(4,234)	(4,543)
Current portion of long term debt	(598)	(868)
Long term debt	4,647	4,888
Capitalized lease obligations	$ 111	$ 58
Capitalized lease obligations																				5.30%		7.10%
Capitalized lease obligations																				Feb. 28, 2015		Nov. 20, 2016

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Note 9 - Segment Information (Details) - Reconciliation of Assets from Segment to Consolidated (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Jun. 30, 2013
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 11,766	$ 12,611
Operating Segments [Member] | Contract Manufacturing [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	7,293	8,524
Operating Segments [Member] | Branded Proprietary Products [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,125	2,186
Operating Segments [Member] | Other Nutraceutical Business [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 2,348	$ 1,901

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Condensed Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Sales, net	$ 8,788	$ 7,395	$ 17,979	$ 15,875
Cost of sales	7,319	6,256	14,913	13,171
Gross profit	1,469	1,139	3,066	2,704
Selling and administrative expenses	850	1,108	1,787	2,305
Operating income	619	31	1,279	399
Other income (expense), net
Change in fair value of derivative liabilities	82	656	9	(428)
Other income, net	3	380	5	374
Interest expense	(246)	(239)	(494)	(487)
Other income (expense), net	(161)	797	(480)	(541)
Income (loss) before income taxes	458	828	799	(142)
Income tax expense, net	61	11	104	13
Net income (loss)	397	817	695	(155)
Interest expense on Convertible debt-CD Financial, LLC	82	82	164
Accretion of Convertible debt - CD Financial, LLC	27	27	54
Diluted net income (loss)	$ 506	$ 926	$ 913	$ (155)
Basic net income (loss) per common share (in Dollars per share)	$ 0.02	$ 0.04	$ 0.03	$ (0.01)
Diluted net income (loss) per common share (in Dollars per share)	$ 0.02	$ 0.03	$ 0.03	$ (0.01)
Weighted average common shares outstanding - basic (in Shares)	21,080,174	21,080,174	21,080,174	21,080,174
Add: Stock options (in Shares)	73,012	219,581	37,017
Shares issuable upon conversion of Convertible Debt - CD Financial, LLC (in Shares)	8,230,769	8,230,769	8,230,769
Weighted average common shares outstanding - diluted (in Shares)	29,383,955	29,530,524	29,347,960	21,080,174

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Note 1 - Principles of Consolidation and Basis of Presentation

6 Months Ended

Dec. 31, 2013

Disclosure Text Block [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Note 1. Principles of Consolidation and Basis of Presentation

Basis of Presentation of Interim Financial Statements

The accompanying condensed consolidated financial statements for the interim periods are unaudited and include the accounts of Integrated BioPharma, Inc., a Delaware corporation (together with its subsidiaries, the “Company”). The interim condensed consolidated financial statements have been prepared in conformity with Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and therefore do not include information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America. However, all adjustments (consisting only of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the financial position and operating results for the periods presented have been included. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations, contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2013 (“Form 10-K”), as filed with the SEC. The June 30, 2013 balance sheet was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The results of operations for the three and six months ended December 31, 2013 are not necessarily indicative of the results for the full fiscal year ending June 30, 2014 or for any other period.

Nature of Operations

The Company is engaged primarily in manufacturing, distributing, marketing and sales of vitamins, nutritional supplements and herbal products. The Company’s customers are located primarily in the United States, Luxembourg and Canada. The Company was previously known as Integrated Health Technologies, Inc. and, prior to that, as Chem International, Inc. The Company was reincorporated in its current form in Delaware in 1995. The Company continues to do business as Chem International, Inc. with certain of its customers and certain vendors.

The Company’s business segments include: (a) Contract Manufacturing operated by InB:Manhattan Drug Company, Inc. (“MDC”), which manufactures vitamins and nutritional supplements for sale to distributors, multilevel marketers and specialized health-care providers; (b) Branded Proprietary Products operated by AgroLabs, Inc. (“AgroLabs”), which distributes healthful nutritional products for sale through major mass market, grocery, drug and vitamin retailers, under the following brands: Naturally Noni, Naturally Pomegranate, Pomegranate with ACAI and Reservatrol, Coconut Water, Naturally Aloe, Aloe Pure, Peaceful Sleep, Green Envy, ACAI Extra, ACAI Immune, ACAI Cleanse, and other products which are being introduced into the market (these are referred to as our branded proprietary nutraceutical business and/or products); and (c) Other Nutraceutical Businesses which includes the operations of (i) The Vitamin Factory (the “Vitamin Factory”), which sells private label MDC products, as well as our AgroLabs products, through the Internet, (ii) IHT Health Products, Inc. (“IHT”) a distributor of fine natural botanicals, including multi minerals produced under a license agreement and (iii) Chem International, Inc., a distributor of certain raw materials for DSM Nutritional Products, Inc.

Significant Accounting Policies

There have been no material changes during fiscal year 2014 in the Company’s significant accounting policies to those previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2013.

Investment in iBio, Inc.- Restricted. The Company accounts for its investment in iBio, Inc. (“iBio”) common stock on the cost basis as it retained approximately 6% of its interest in iBio (1,266,706 common shares) (the “iBio Stock”) at the time of the spin-off of this subsidiary in August 2008.  The Company reviews its investment in iBio for impairment and records a loss when there is deemed to be an impairment of the investment. There was an impairment charge of $139 recorded in the quarter ended March 31, 2013. Although the market value of the iBio Stock as of December 31, 2013 was approximately $0.4 million, a trading price below the carrying value per share as of December 31, 2013 and other points in time, management’s assessment concluded that there is no reason to believe that such declines are other than temporary as of the reporting date. Pursuant to the Company’s Loan Agreement with PNC Bank, National Association (“PNC”), the Company is required to sell the iBio Stock when the trading price of the iBio Stock is less than $0.88 per share for a period of fifteen (15) consecutive trading days on the applicable exchange and utilize all proceeds from such sale to prepay the outstanding principal of the term loan outstanding under the Loan Agreement at such time. In the fiscal year ended June 30, 2013, the trading price of the iBio Stock was less than $0.88 for a period of fifteen (15) consecutive trading days and has continued to have a trading price less than $0.88 through February 12, 2014. (See Note 5. Senior Credit Facility, Subordinated Convertible Note Payable, net - CD Financial, LLC and other Long Term Debt). As of December 31, 2013, the Company has not sold any shares of the iBio Stock. As of February 12, 2014, PNC has not required the Company to sell any of the iBio Stock but reserves the right to do so at any time in the future.

Earnings Per Share. Basic earnings per common share amounts are based on the weighted average number of common shares outstanding. Diluted earnings per share amounts are based on the weighted average number of common shares outstanding, plus the incremental shares that would have been outstanding upon the assumed exercise of all potentially dilutive stock options, and warrants, subject to anti-dilution limitations using the treasury stock method and the assumed conversion shares of all potentially dilutive convertible notes payable subject to anti-dilution limitations using the if converted method.

The following options, warrants and potentially dilutive shares for convertible notes payable (see Note 5. Senior Credit Facility, Subordinated Convertible Note Payable, net - CD Financial, LLC and other Long Term Debt) were not included in the computation of weighted average diluted common shares outstanding as the effect of doing so would be anti-dilutive for the three and six months ended December 31, 2013 and 2012:

	Three Months Ended December 31,				Six Months Ended December 31,
	2013		2012		2013		2012
Anti-dilutive stock options		1,252,770		2,176,588		1,252,770		2,811,088
Anti-dilutive warrants		-		500,000		-		500,000
Potentially dilutive shares of convertible notes payable		-		-		-		8,230,769
Total anti-dilutive shares		1,252,770		2,676,588		1,252,770		11,541,857

Stock options to purchase or otherwise obtain 634,500 shares of common stock of the Company, however, were included in the diluted earnings per share computation for earnings per share in the three month period ended December 31, 2012 as their exercise prices were less than the market price of the common shares as of December 31, 2012.

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Note 7 - Commitments and Contingencies (Details) (USD $)	3 Months Ended		6 Months Ended			6 Months Ended		3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2013	Dec. 31, 2013 Manhattan Drug Company [Member]	Dec. 31, 2013 AgroLabs [Member]	Dec. 31, 2013 Principal Owner [Member]	Dec. 31, 2012 Principal Owner [Member]	Dec. 31, 2013 Principal Owner [Member]	Dec. 31, 2012 Principal Owner [Member]	Dec. 31, 2013 Vitamin Realty LLC [Member]	Jun. 30, 2013 Vitamin Realty LLC [Member]	May 15, 2013 Stock Purchase Agreement [Member]	May 15, 2013 Environmental Issues [Member]
Note 7 - Commitments and Contingencies (Details) [Line Items]
Payments for Rent						$ 533,000	$ 27,000
Operating Leases, Rent Expense	244,000	239,000	490,000	500,000				196,000	201,000	391,000	407,000
Capital Lease Obligations	111,000		111,000		58,000							845,000	918,000
Loss Contingency, Estimate of Possible Loss														$ 600,000	$ 300,000

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Note 9 - Segment Information (Tables)

6 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

		Sales, Net						Segment
		U.S. Customers		International Customers		Total		Gross Profit		Depreciation		Capital Expenditures
Contract Manufacturing	2013	$	4,973	$	2,819	$	7,792	$	1,208	$	63	$	103
	2012		3,521		2,709		6,230		841		66		-
Branded  Proprietary Products	2013		130		322		452		107		1		-
	2012		403		391		794		222		1		-
Other Nutraceutical Businesses	2013		515		29		544		154		2		2
	2012		346		25		371		76		4		-
Total Company	2013		5,618		3,170		8,788		1,469		66		105
	2012		4,270		3,125		7,395		1,139		71		-

		Sales, Net						Segment
		U.S. Customers		International Customers		Total		Gross Profit		Depreciation		Capital Expenditures
Contract Manufacturing	2013	$	10,402	$	5,681	$	16,083	$	2,574	$	129	$	103
	2012		8,397		4,913		13,310		1,937		132		8
Branded Proprietary Products	2013		262		482		744		164		1		-
	2012		990		635		1,625		544		5		-
Other Nutraceutical Businesses	2013		1,059		93		1,152		328		5		2
Businesses	2012		845		95		940		223		7		-
Total Company	2013		11,723		6,256		17,979		3,066		135		105
	2012		10,232		5,643		15,875		2,704		144		8

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

	Total Assets as of
	December 31, 2013		June 30, 2013
Contract Manufacturing	$	7,293	$	8,524
Branded Proprietary Products		2,125		2,186
Other Nutraceutical Businesses		2,348		1,901
Total Company	$	11,766	$	12,611

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Note 7 - Commitments and Contingencies (Details) - Minimum Rental Commitment for Long-term Non-cancelable Leases (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013
Note 7 - Commitments and Contingencies (Details) - Minimum Rental Commitment for Long-term Non-cancelable Leases [Line Items]
2014, remaining	$ 308
2015	608
2016	598
2017	578
2018	571
2019	550
Thereafter	3,510
Total	6,723
Principal Owner [Member] | Capital Lease Obligations [Member]
Note 7 - Commitments and Contingencies (Details) - Minimum Rental Commitment for Long-term Non-cancelable Leases [Line Items]
2014, remaining	281
2015	563
2016	563
2017	563
2018	563
2019	550
Thereafter	3,510
Total	6,593
Capital Lease Obligations [Member]
Note 7 - Commitments and Contingencies (Details) - Minimum Rental Commitment for Long-term Non-cancelable Leases [Line Items]
2014, remaining	27
2015	45
2016	35
2017	15
2018	8
Total	$ 130

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Note 1 - Principles of Consolidation and Basis of Presentation (Details) - Antidilutive Securities Excluded from Computation of Earnings Per Share	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	1,252,770	2,676,588	1,252,770	11,541,857
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	1,252,770	2,176,588	1,252,770	2,811,088
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares		500,000		500,000
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares				8,230,769

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Note 2 - Inventories

6 Months Ended

Dec. 31, 2013

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

Note 2. Inventories

Inventories are stated at the lower of cost or market using the first-in, first-out method and consist of the following as of:

	December 31, 2013		June 30, 2013
Raw materials	$	3,077	$	2,512
Work-in-process		871		1,979
Finished goods		1,852		1,940
Total	$	5,800	$	6,431

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Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Jun. 30, 2013
Current Assets:
Cash	$ 135	$ 55
Accounts receivable, net	2,289	2,419
Inventories	5,800	6,431
Investment in iBio, Inc. - restricted	684	684
Other current assets	331	339
Total current assets	9,239	9,928
Intangible assets, net	948	1,017
Property and equipment, net	1,205	1,235
Security deposits and other assets	374	431
Total Assets	11,766	12,611
Current Liabilities:
Advances under revolving credit facility	4,234	4,543
Accounts payable (includes $126 and $186 due to related party)	5,049	5,883
Accrued expenses and other current liabilities	1,190	1,122
Current portion of long term debt	598	868
Total current liabilities	11,071	12,416
Long term debt	4,647	4,888
Subordinated convertible note, net - CD Financial LLC	4,955	4,901
Derivative liabilities	687	696
Total liabilities	21,360	22,901
Commitments and Contingencies
Stockholders' Deficiency:
Common Stock, $0.002 par value; 50,000,000 shares authorized; 21,115,074 and 21,080,174 shares issued and outstanding, respectively	42	42
Additional paid-in capital	44,568	44,568
Accumulated deficit	(54,105)	(54,801)
Less: Treasury stock, at cost, 34,900 shares	(99)	(99)
Total Stockholders' Deficiency	(9,594)	(10,290)
Total Liabilities and Stockholders' Deficiency	$ 11,766	$ 12,611

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Note 2 - Inventories (Tables)

6 Months Ended

Dec. 31, 2013

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

	December 31, 2013		June 30, 2013
Raw materials	$	3,077	$	2,512
Work-in-process		871		1,979
Finished goods		1,852		1,940
Total	$	5,800	$	6,431

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Document And Entity Information	6 Months Ended
	Dec. 31, 2013	Feb. 12, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	INTEGRATED BIOPHARMA INC
Document Type	10-Q
Current Fiscal Year End Date	--06-30
Entity Common Stock, Shares Outstanding		21,080,174
Amendment Flag	false
Entity Central Index Key	0001016504
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2013
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q2

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Note 3 - Intangible Assets, Net (Tables)

6 Months Ended

Dec. 31, 2013

Disclosure Text Block [Abstract]

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	December 31, 2013						June 30, 2013
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Trade names and patents	$	1,525	$	777	$	748	$	1,525	$	739	$	786
Unpatented technology		547		480		67		547		460		87
License agreement		347		214		133		347		203		144
Total	$	2,419	$	1,471	$	948	$	2,419	$	1,402	$	1,017

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Year ending June 30,	Amortization Expense
2014, remaining	$	68
2015		137
2016		104
2017		97
2018		97
2019		97
Thereafter		348
Total	$	948

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Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Jun. 30, 2013
Accounts payable, related party (in Dollars)	$ 126	$ 186
Common Stock, par value (in Dollars per share)	$ 0.002	$ 0.002
Common Stock, shares authorized (in Shares)	50,000,000	50,000,000
Common Stock, shares issued (in Shares)	21,115,074	21,080,174
Common Stock, shares outstanding (in Shares)	21,115,074	21,080,174
Treasury stock, shares (in Shares)	34,900	34,900

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Note 7 - Commitments and Contingencies

6 Months Ended

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

Note 7. Commitments and Contingencies

(a) Leases

Related Party Leases. Warehouse and office facilities are leased from Vitamin Realty. On January 5, 2012, MDC, a wholly-owned subsidiary of the Company, entered into a second amendment of lease (the “Second Lease Amendment”) with Vitamin Realty for its office and warehouse space in New Jersey increasing its rentable square footage from an aggregate of 74,898 square feet to 76,161 square feet and extending the expiration date to January 31, 2026. This Second Lease Amendment provides for minimum annual rental payments of $533, plus increases in real estate taxes and building operating expenses. Also on January 5, 2012, AgroLabs entered into a lease agreement with Vitamin Realty for an additional 2,700 square feet of warehouse space in New Jersey, the term of which expires on January 31, 2019. This additional lease provides for minimum lease payments of $27 with annual increases plus the proportionate share of operating expenses.

Rent expense for the three and six months ended December 31, 2013 and 2012 on these leases were $201 and $196 and $407 and $391, respectively, and are included in both cost of sales and selling and administrative expenses in the accompanying Condensed Consolidated Statements of Operations. As of December 31, 2013 and June 30, 2013, the Company had an outstanding obligation to Vitamin Realty of $845 and $918, respectively, included in accounts payable and long term debt in the accompanying Condensed Consolidated Balance Sheet.

Other Lease Commitments. The Company has entered into certain non-cancelable operating lease agreements expiring up through January 31, 2026, related to office and warehouse space, equipment and vehicles.

The minimum rental commitment for long-term non-cancelable leases is as follows:

Year ending June 30,	Lease Commitment		Related Party Lease Commitment		Total
2014, remaining	$	27	$	281	$	308
2015		45		563		608
2016		35		563		598
2017		15		563		578
2018		8		563		571
2019		-		550		550
Thereafter		-		3,510		3,510
Total	$	130	$	6,593	$	6,723

Total rent expense, including real estate taxes and maintenance charges, was approximately $244 and $239 and $490 and $500 for the three and six months ended December 31, 2013 and 2012, respectively. Rent expense is included in cost of sales and selling and administrative expenses in the accompanying Condensed Consolidated Statements of Operations.

(b) Legal Proceedings.

The Company is subject, from time to time, to claims by third parties under various legal theories. The defense of such claims, or any adverse outcome relating to any such claims, could have a material adverse effect on the Company’s liquidity, financial condition and cash flows.

(c) Other Claims.

On May 15, 2012, Cedarburg Pharmaceuticals, Inc. ("Cedarburg") sent the Company a letter (the "Demand Letter") setting forth a demand for indemnification under the Stock Purchase Agreement, dated March 17, 2009 (the "Cedarburg SPA"), by and among Cedarburg, InB: Hauser Pharmaceutical Services, Inc., InB: Paxis Pharmaceuticals, Inc. and the Company. In the Demand Letter, Cedarburg demanded payment by the Company of $0.6 million in respect of the Company's indemnification obligations under the Cedarburg SPA. In addition, in the Demand Letter, Cedarburg informed the Company that there are also environmental issues pending which may lead to additional costs to Cedarburg which will likely be in excess of $0.3 million.

On May 30, 2012, the Company sent a letter responding to the Demand Letter and setting forth the Company’s position that it has no obligation to indemnify Cedarburg as demanded. On June 18, 2012, Cedarburg responded to the Company’s letter and, on July 27, 2012, the Company sent another letter to Cedarburg reiterating its position that the Company has no obligation to indemnify Cedarburg as demanded. On December 18, 2012, Cedarburg responded to the Company’s letter and, on January 15, 2013, the Company sent another letter to Cedarburg reiterating its position that the Company has no obligation to indemnify Cedarburg as demanded. As of February 12, 2014, the Company has not received any further communication from Cedarburg with respect to its demand for indemnification as set forth in the Demand Letter. The Company intends to vigorously contest Cedarburg's demand as set forth in the Demand Letter.

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Note 6 - Significant Risks and Uncertainties

6 Months Ended

Dec. 31, 2013

Risks and Uncertainties [Abstract]

Concentration Risk Disclosure [Text Block]

Note 6. Significant Risks and Uncertainties

(a) Major Customers. For the three and six months ended December 31, 2013, approximately 82% and 80%, respectively of total net sales were derived from two customers in the Company’s contract manufacturing segment as compared to approximately 73% and 72% of total net sales derived from the same two customers in the Company’s contract manufacturing segment in the three and six months ended December 31, 2012, respectively. Accounts receivable as of December 31, 2013 from these customers represented approximately 74% of total accounts receivable. The loss of any of these two customers would have an adverse affect on the Company’s operations. Major customers are those customers who account for more than 10% of net sales.

(b) Other Business Risks. Approximately 63% the Company’s employees are covered by a union contract and are employed in its New Jersey facilities. The union contract was renewed in May 2012 and expires in August 2015.

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Note 1 - Principles of Consolidation and Basis of Presentation (Details) (USD $)	3 Months Ended		6 Months Ended	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012 Common Stock [Member]	Mar. 31, 2013 iBio, Inc. [Member]	Dec. 31, 2013 iBio, Inc. [Member]	Aug. 31, 2008 iBio, Inc. [Member]
Note 1 - Principles of Consolidation and Basis of Presentation (Details) [Line Items]
Equity Method Investment, Ownership Percentage							6.00%
Investment Owned, Balance, Shares (in Shares)							1,266,706
Gain (Loss) on Investments (in Dollars)					$ (139,000)
Equity Method Investment, Quoted Market Value (in Dollars)						$ 400,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares)	73,012	219,581	37,017	634,500

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Note 4 - Property and Equipment, Net (Tables)

6 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

	December 31, 2013			June 30, 2013
Land and building	$	1,250		$	1,250
Leasehold improvements		1,138			1,132
Machinery and equipment		4,945			4,918
Transportation equipment		59			59
		7,392			7,359
Less: Accumulated depreciation and amortization		(6,187	)		(6,124	)
Total	$	1,205		$	1,235

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Accounting Policies, by Policy (Policies)

6 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Investment, Policy [Policy Text Block]

Investment in iBio, Inc.- Restricted. The Company accounts for its investment in iBio, Inc. (“iBio”) common stock on the cost basis as it retained approximately 6% of its interest in iBio (1,266,706 common shares) (the “iBio Stock”) at the time of the spin-off of this subsidiary in August 2008.  The Company reviews its investment in iBio for impairment and records a loss when there is deemed to be an impairment of the investment. There was an impairment charge of $139 recorded in the quarter ended March 31, 2013. Although the market value of the iBio Stock as of December 31, 2013 was approximately $0.4 million, a trading price below the carrying value per share as of December 31, 2013 and other points in time, management’s assessment concluded that there is no reason to believe that such declines are other than temporary as of the reporting date. Pursuant to the Company’s Loan Agreement with PNC Bank, National Association (“PNC”), the Company is required to sell the iBio Stock when the trading price of the iBio Stock is less than $0.88 per share for a period of fifteen (15) consecutive trading days on the applicable exchange and utilize all proceeds from such sale to prepay the outstanding principal of the term loan outstanding under the Loan Agreement at such time. In the fiscal year ended June 30, 2013, the trading price of the iBio Stock was less than $0.88 for a period of fifteen (15) consecutive trading days and has continued to have a trading price less than $0.88 through February 12, 2014. (See Note 5. Senior Credit Facility, Subordinated Convertible Note Payable, net - CD Financial, LLC and other Long Term Debt). As of December 31, 2013, the Company has not sold any shares of the iBio Stock. As of February 12, 2014, PNC has not required the Company to sell any of the iBio Stock but reserves the right to do so at any time in the future.

Earnings Per Share, Policy [Policy Text Block]

Earnings Per Share. Basic earnings per common share amounts are based on the weighted average number of common shares outstanding. Diluted earnings per share amounts are based on the weighted average number of common shares outstanding, plus the incremental shares that would have been outstanding upon the assumed exercise of all potentially dilutive stock options, and warrants, subject to anti-dilution limitations using the treasury stock method and the assumed conversion shares of all potentially dilutive convertible notes payable subject to anti-dilution limitations using the if converted method.

The following options, warrants and potentially dilutive shares for convertible notes payable (see Note 5. Senior Credit Facility, Subordinated Convertible Note Payable, net - CD Financial, LLC and other Long Term Debt) were not included in the computation of weighted average diluted common shares outstanding as the effect of doing so would be anti-dilutive for the three and six months ended December 31, 2013 and 2012:

	Three Months Ended December 31,				Six Months Ended December 31,
	2013		2012		2013		2012
Anti-dilutive stock options		1,252,770		2,176,588		1,252,770		2,811,088
Anti-dilutive warrants		-		500,000		-		500,000
Potentially dilutive shares of convertible notes payable		-		-		-		8,230,769
Total anti-dilutive shares		1,252,770		2,676,588		1,252,770		11,541,857

Stock options to purchase or otherwise obtain 634,500 shares of common stock of the Company, however, were included in the diluted earnings per share computation for earnings per share in the three month period ended December 31, 2012 as their exercise prices were less than the market price of the common shares as of December 31, 2012.

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Note 8 - Related Party Transactions

6 Months Ended

Dec. 31, 2013

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

Note 8. Related Party Transactions

On June 27, 2012, Carl DeSantis, a director and major shareholder of the Company and a member of CD Financial and E. Gerald Kay, the Company’s Chief Executive Officer, Chairman of the Board, President and a major shareholder each entered into Limited Guaranty Agreements with PNC in the amount of $1.0 million each. (See Note 5. Senior Credit Facility, Subordinated Convertible Note Payable, net - CD Financial, LLC and other Long Term Debt).

Neither Mr. DeSantis nor Mr. Kay received any compensation from the Company in connection with these guarantees. The Individual Guarantees automatically terminate upon the satisfaction of certain conditions set forth in the Loan Agreement. These conditions included the Company repaying an aggregate amount of $1.0 million of principal on the Term Loan and the Company meeting a minimum EBITDA, as defined in the Loan Agreement, of $1.5 million for the fiscal year ended June 30, 2013. These two conditions were met by the Company on November 1, 2013 and Mr. DeSantis and Mr. Kay were released as guarantors under the Individual Guarantees.

See Note 5. Senior Credit Facility, Subordinated Convertible Note Payable, net - CD Financial, LLC and other Long Term Debt for related party securities transactions.

See Note 7(a). Leases for related party lease transactions.

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Note 9 - Segment Information

6 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Note 9. Segment Information

The basis for presenting segment results generally is consistent with overall Company reporting. The Company reports information about its operating segments in accordance with GAAP which establishes standards for reporting information about a company’s operating segments.

The Company has divided its operations into three reportable segments as follows: Contract Manufacturing, Branded Proprietary Products and Other Nutraceutical Businesses. The international sales, concentrated primarily in Europe and Canada, for the three months ended December 31, 2013 and 2012 were $3,170 and $3,125, respectively and for the six months ended December 31, 2013 and 2012 were $6,256 and $5,643, respectively.

Financial information relating to the three months ended December 31, 2013 and 2012 operations by business segment are as follows:

		Sales, Net						Segment
		U.S. Customers		International Customers		Total		Gross Profit		Depreciation		Capital Expenditures
Contract Manufacturing	2013	$	4,973	$	2,819	$	7,792	$	1,208	$	63	$	103
	2012		3,521		2,709		6,230		841		66		-
Branded  Proprietary Products	2013		130		322		452		107		1		-
	2012		403		391		794		222		1		-
Other Nutraceutical Businesses	2013		515		29		544		154		2		2
	2012		346		25		371		76		4		-
Total Company	2013		5,618		3,170		8,788		1,469		66		105
	2012		4,270		3,125		7,395		1,139		71		-

Financial information relating to the six months ended December 31, 2013 and 2012 operations by business segment are as follows:

		Sales, Net						Segment
		U.S. Customers		International Customers		Total		Gross Profit		Depreciation		Capital Expenditures
Contract Manufacturing	2013	$	10,402	$	5,681	$	16,083	$	2,574	$	129	$	103
	2012		8,397		4,913		13,310		1,937		132		8
Branded Proprietary Products	2013		262		482		744		164		1		-
	2012		990		635		1,625		544		5		-
Other Nutraceutical Businesses	2013		1,059		93		1,152		328		5		2
Businesses	2012		845		95		940		223		7		-
Total Company	2013		11,723		6,256		17,979		3,066		135		105
	2012		10,232		5,643		15,875		2,704		144		8

	Total Assets as of
	December 31, 2013		June 30, 2013
Contract Manufacturing	$	7,293	$	8,524
Branded Proprietary Products		2,125		2,186
Other Nutraceutical Businesses		2,348		1,901
Total Company	$	11,766	$	12,611

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Note 1 - Principles of Consolidation and Basis of Presentation (Tables)

6 Months Ended

Dec. 31, 2013

Disclosure Text Block [Abstract]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	Three Months Ended December 31,				Six Months Ended December 31,
	2013		2012		2013		2012
Anti-dilutive stock options		1,252,770		2,176,588		1,252,770		2,811,088
Anti-dilutive warrants		-		500,000		-		500,000
Potentially dilutive shares of convertible notes payable		-		-		-		8,230,769
Total anti-dilutive shares		1,252,770		2,676,588		1,252,770		11,541,857

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Note 6 - Significant Risks and Uncertainties (Details)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Two Customers [Member] | Sales Revenue, Goods, Net [Member]
Note 6 - Significant Risks and Uncertainties (Details) [Line Items]
Concentration Risk, Percentage	80.00%	73.00%	82.00%	72.00%
Two Customers [Member] | Accounts Receivable [Member]
Note 6 - Significant Risks and Uncertainties (Details) [Line Items]
Concentration Risk, Percentage			74.00%
Number of Employees, Geographic Area [Member]
Note 6 - Significant Risks and Uncertainties (Details) [Line Items]
Concentration Risk, Percentage			63.00%
Maximum [Member] | Sales Revenue, Goods, Net [Member]
Note 6 - Significant Risks and Uncertainties (Details) [Line Items]
Concentration Risk, Percentage			10.00%

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Note 7 - Commitments and Contingencies (Tables)

6 Months Ended

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

Year ending June 30,	Lease Commitment		Related Party Lease Commitment		Total
2014, remaining	$	27	$	281	$	308
2015		45		563		608
2016		35		563		598
2017		15		563		578
2018		8		563		571
2019		-		550		550
Thereafter		-		3,510		3,510
Total	$	130	$	6,593	$	6,723

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Note 3 - Intangible Assets, Net (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Note 3 - Intangible Assets, Net (Details) [Line Items]
Amortization of Intangible Assets	$ 34	$ 34	$ 69	$ 69
Minimum [Member]
Note 3 - Intangible Assets, Net (Details) [Line Items]
Finite-Lived Intangible Asset, Useful Life			10 years
Maximum [Member]
Note 3 - Intangible Assets, Net (Details) [Line Items]
Finite-Lived Intangible Asset, Useful Life			20 years

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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Net income (loss)	$ 695	$ (155)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	203	213
Accretion of financing instruments and amortization of prepaid financing costs	119	113
Change in fair value of derivative liabilities	(9)	428
(Gain) loss on sale of fixed assets	(4)	6
Decrease (increase) in:
Accounts receivable	130	(923)
Inventories	631	(1,203)
Other current assets	8	59
Security deposits and other assets	(8)	47
(Decrease) increase in:
Accounts payable	(834)	547
Accrued expenses and other liabilities	69	(111)
Net cash provided by (used in) operating activities	1,000	(979)
Cash flows from investing activities:
Purchase of property and equipment	(29)	(8)
Proceeds from sale of property and equipment		18
Net cash (used in) provided by investing activities	(29)	10
Cash flows from financing activities:
Advances under revolving credit facility	17,518	17,076
Repayments under revolving credit facility	(17,827)	(15,902)
Payments under term notes	(564)	(226)
Payments under capital lease obligations	(18)
Net cash (used in) provided by financing activities	(891)	948
Net increase (decrease) in cash	80	(21)
Cash at beginning of period	55	145
Cash at end of period	135	124
Interest	361	298
Income taxes	5	13
Assets purchased under capitalized lease obligations	$ 76

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Note 5 - Senior Credit Facility, Subordinated Convertible Note Payable, Net - CD Financial, LLC and other Long Term Debt

6 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

Note 5. Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt

As of December 31 and June 30, 2013, the Company had the following debt outstanding:

	Principal Amount						Interest Rate					Maturity Date
	As of December 31, 2013			As of June 30, 2013
Revolving advances under Senior Credit Facility with PNC Bank, National Association	$	4,234		$	4,543					3.25	%			6/27/2017
Installment Note with PNC Bank		2,679			3,239					3.75	%			6/27/2017
Promissory Note with CD Financial, LLC		1,714			1,714					6.00	%			7/7/2017
Promissory Note with Vitamin Realty, LLC		686			686					4.00	%			7/7/2017
Capitalized lease obligations		111			58			5.30%	-	7.10	%	2/28/2015	-	11/20/2016
Promissory Note with E. Gerald Kay		27			27					4.00	%			7/7/2017
Promissory Note with Acura Financial Services		28			32					1.90	%			4/15/2017
Total outstanding debt		9,479			10,299
Less: Revolving Advances		(4,234	)		(4,543	)
Current portion of long term debt		(598	)		(868	)
Long term debt	$	4,647		$	4,888
Convertible Note payable - CD Financial, LLC	$	5,350		$	5,350					6.00	%			7/7/2017
Unamortized discount for embedded derivative		(395	)		(449	)
Convertible Note payable, net - CD Financial, LLC	$	4,955		$	4,901

SENIOR CREDIT FACILITY

On June 27, 2012, the Company, MDC, AgroLabs, IHT, IHT Properties Corp. (“IHT Properties”) and Vitamin Factory (collectively, the “Borrowers”) entered into a Revolving Credit, Term Loan and Security Agreement (the “Loan Agreement”) with PNC as agent and lender and the other lenders party thereto.

The Loan Agreement provides for a total of $11,727 in senior secured financing (the “Senior Credit Facility”) as follows: (i) discretionary advances (“Revolving Advances”) based on eligible accounts receivable and eligible inventory in the maximum amount of $8,000 (the “Revolving Credit Facility”) and (ii) a term loan in the amount of $3,727 (the “Term Loan”). The Senior Credit Facility is secured by all assets of the Borrowers, including, without limitation, machinery and equipment, real estate owned by IHT Properties, and the iBio Stock owned by the Company. Revolving Advances bear interest at PNC’s Base Rate or the Eurodollar Rate, at Borrowers’ option, plus 2.75% (3.25% as of December 31 and June 30, 2013). The Term Loan bears interest at PNC’s Base Rate or the Eurodollar Rate, at Borrowers’ option, plus 3.25% (3.75% as of December 31 and June 30, 2013). Upon and after the occurrence of any event of default under the Loan Agreement, and during the continuation thereof, interest shall be payable at the interest rate then applicable plus 2%. The Senior Credit Facility matures on June 27, 2017 (the “Senior Maturity Date”).

The principal balance of the Revolving Advances is payable on the Senior Maturity Date, subject to acceleration, based upon a material adverse event clause, as defined, subjective accelerations for borrowing base reserves, as defined or upon the occurrence of any event of default under the Loan Agreement or earlier termination of the Loan Agreement pursuant to the terms thereof. The Term Loan shall be repaid in sixty (60) consecutive monthly installments of principal, the first fifty nine (59) of which shall be in the amount of $44, commencing on the first business day of August, 2012, and continuing on the first business day of each month thereafter, with a final payment of any unpaid balance of principal and interest payable on the first business day of July, 2017. The foregoing is subject to customary mandatory prepayment provisions and acceleration upon the occurrence of any event of default under the Loan Agreement or earlier termination of the Loan Agreement pursuant to the terms thereof.

The Revolving Advances are subject to the terms and conditions set forth in the Loan Agreement and are made in aggregate amounts at any time equal to the lesser of (x) $8.0 million or (y) an amount equal to the sum of: (i) up to 85%, subject to the provisions in the Loan Agreement, of eligible accounts receivables (“Receivables Advance Rate”), plus (ii) up to the lesser of (A) 65%, subject to the provisions in the Loan Agreement, of the value of the eligible inventory (“Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”), (B) 85% of the appraised net orderly liquidation value of eligible inventory (as evidenced by the most recent inventory appraisal reasonably satisfactory to PNC in its sole discretion exercised in good faith) and (C) the inventory sublimit in the aggregate at any one time (“Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”), minus (iii) the aggregate Maximum Undrawn Amount of all outstanding Letters of Credit, minus (iv) such reserves as Agent may reasonably deem proper and necessary from time to time.

The Loan Agreement contains customary mandatory prepayment provisions, including, without limitation, (i) the requirement that if the trading price per share of the iBio Stock falls below a certain amount, the Company shall sell the iBio Stock and use the proceeds to repay the Term Loan and (ii) the requirement to prepay loans in an amount equal to fifty percent (50%) of Excess Cash Flow for each fiscal year commencing with the fiscal year ending June 30, 2013, payable upon delivery of the financial statements to PNC referred to in and required by the Loan Agreement for such fiscal year but in any event not later than one hundred twenty (120) days after the end of each such fiscal year, which prepayment amount shall be applied ratably to the outstanding principal installments of the Term Loan in the inverse order of the maturities thereof until the aggregate amount of payments made with regard to the Term Loan pursuant to Loan Agreement equals $1.0 million. The Loan Agreement also contains customary representations and warranties, covenants and events of default, including, without limitation, (i) a fixed charge coverage ratio maintenance requirement and (ii) an event of default tied to any change of control as defined in the Loan Agreement. As of December 31, 2013, the Company is in compliance with the fixed charge coverage ratio maintenance requirement.

During certain periods in the fiscal year ended June 30, 2013 and continuing into the six months ended December 31, 2013, the trading price of the iBio Stock was less than $0.88 for a period of fifteen (15) consecutive trading days. However, PNC temporarily waived the requirement to sell the iBio Stock due to certain trading rules and restrictions under Rule 144 under the Securities Act of 1933, as amended. As of February 12, 2014, PNC has not required the Company to sell any of the iBio Stock but reserves the right to do so at any time in the future.

In October, 2013, when the Company delivered its annual financial statements for the fiscal year ended June 30, 2013 to PNC, as required under the Loan Agreement, the Company was required to make a prepayment in respect of loans outstanding under the Loan Agreement of approximately $293, representing 50% of Excess Cash Flows for the fiscal year ended June 30, 2013. This payment, along with the scheduled monthly principal payments of $44 made by the Company in respect of the Term Loan through November 1, 2013 provided for principal payments of $1.0 million in the aggregate.

In connection with the Senior Credit Facility, each of E. Gerald Kay, an officer, director and major stockholder of the Company, and Carl DeSantis, a director and major stockholder of the Company (collectively, the “Guarantors”), entered into Continuing Limited Guarantees (collectively, the “Individual Guarantees”) with PNC whereby each Guarantor irrevocably and unconditionally guarantees the full, prompt and unconditional payment, when due, whether by acceleration or otherwise, of any and all obligations of the Borrowers under the Loan Agreement and the other loan documents. The liability of each Guarantor under his respective Individual Guarantee is limited to a maximum of $1.0 million. The Individual Guarantees automatically terminate upon the satisfaction of certain conditions set forth in the Loan Agreement. These conditions included the Company repaying an aggregate amount of $1.0 million of principal on the Term Loan and the Company meeting a minimum EBITDA, as defined in the Loan Agreement, of $1.5 million for the fiscal year ended June 30, 2013. The Company met these requirements on November 1, 2013 and Mr. DeSantis and Mr. Kay were released as guarantors under the Individual Guarantees.

Also, in connection with the Senior Credit Facility, PNC and CD Financial, LLC (“CD Financial”) entered into the Intercreditor and Subordination Agreement (the “Intercreditor Agreement”), which was acknowledged by the Borrowers, pursuant to which, among other things, (a) the lien of CD Financial on assets of the Borrowers is subordinated to the lien of PNC on such assets during the effectiveness of the Senior Credit Facility, and (b) priorities for payment of the debt for the Company and its subsidiaries (as described in this Note 5) are established.

In addition, in connection with the Senior Credit Facility, the following loan documents were executed: (i) the Company has entered into a Stock Pledge Agreement with PNC, pursuant to which the Company pledged to PNC the iBio Stock; (ii) IHT Properties has entered into a Mortgage and Security Agreement with PNC; and (iii) the Borrowers have entered into an Environmental Indemnity Agreement with PNC.

CD FINANCIAL, LLC DEBT

On June 27, 2012, the Company also entered into an Amended and Restated Securities Purchase Agreement (the “CD SPA”) with CD Financial, which amended and restated the Securities Purchase Agreement, dated as of February 21, 2008, between the Company and CD Financial, pursuant to which the Company issued to CD Financial a 9.5% Convertible Senior Secured Note in the original principal amount of $4,500 (the “Original CD Note”). Pursuant to the CD SPA, the Company issued to CD Financial (i) the Amended and Restated Convertible Promissory Note in the principal amount of $5,350 (the “CD Convertible Note”) and (ii) the Promissory Note in the principal amount of $1,714 (the “Liquidity Note”, and collectively with the CD Convertible Note, the “CD Notes”). The CD Notes mature on July 7, 2017.

The CD Notes are secured by all assets of the Borrowers, including, without limitation, machinery and equipment, real estate owned by IHT Properties, and iBio Stock owned by the Company. The CD Notes bear interest at an annual rate of 6% and have a default rate of 10%.

The CD Convertible Note is convertible at the option of CD Financial into common stock of the Company at a conversion price of $0.65 per share, subject to customary adjustments including conversion price protection provisions.

Pursuant to the terms of the Loan Agreement and the Intercreditor Agreement, during the effectiveness of the Senior Credit Facility, (i) the principal of the CD Convertible Note may not be repaid, (ii) the principal of the Liquidity Note may only be repaid if certain conditions under the Loan Agreement are satisfied, and (iii) interest in respect of the CD Notes may only be paid if certain conditions under the Intercreditor Agreement are satisfied.

The CD SPA contains customary representations and warranties, covenants and events of default, including, without limitation, an event of default tied to any change of control as defined in the CD SPA.

In connection with the CD SPA, the Borrowers entered into an Amended and Restated Security Agreement and Amended and Restated Subsidiary Guaranty.

As of December 31 and June 30, 2013, the related embedded derivative liability with respect to conversion price protection provisions on the CD Convertible Note has an estimated fair value of $687 and $696, respectively.

The Company used the following assumptions to calculate the fair value of the derivative liability using the Black-Scholes option pricing model: 

	December 31, 2013			June 30, 2013			Issuance Date- June 27, 2012
Risk Free Interest Rate		0.78	%		0.66	%		0.72	%
Volatility		102.10	%		118.50	%		144.10	%
Term (years)	3.5			4			5
Dividend Rate		0.00	%		0.00	%		0.00	%
Closing Price of Common Stock	$	0.19		$	0.15		$	0.09

OTHER LONG TERM DEBT

On June 27, 2012, MDC and the Company entered into separate promissory notes with (i) Vitamin Realty Associates, LLC (“Vitamin Realty”), which is 90% owned by E. Gerald Kay, the Company’s Chairman of the Board, President and major shareholder and certain of his family members, who are also executive officers and directors of the Company, and (ii) E. Gerald Kay, in the principal amounts of approximately $686 (the “Vitamin Note”) and $27 (the “Kay Note”), respectively (collectively the “Related Party Notes”). The principal amount of the Vitamin Note represents the aggregate amount of unpaid, past due rent owing by MDC under the Lease Agreement, dated as of January 10, 1997, between MDC, as lessor, and Vitamin Realty, as landlord, pertaining to the real property located at 225 Long Avenue, Hillside, New Jersey. (See Note 7. Commitments and Contingencies (a) Leases – Related Parties). The Kay Note represents amounts owed to Mr. Kay for unreimbursed business expenses incurred by Mr. Kay in the fiscal year ended June 30, 2008. The Related Party Notes mature on July 7, 2017 and accrue interest at an annual rate of 4% per annum. Interest in respect of the Related Party Notes is payable on the first business day of each calendar month. Pursuant to the terms of the Loan Agreement, during the effectiveness of the Senior Credit Facility, the Related Party Notes may only be repaid or prepaid if certain conditions set forth in the Loan Agreement are satisfied.

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Note 3 - Intangible Assets, Net (Details) - Finite-Lived Intangible Assets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Jun. 30, 2013
Finite-Lived Intangible Assets [Line Items]
Gross Carring Amount	$ 2,419	$ 2,419
Accumulated Amortization	1,471	1,402
Net	948	1,017
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carring Amount	1,525	1,525
Accumulated Amortization	777	739
Net	748	786
Unpatented Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carring Amount	547	547
Accumulated Amortization	480	460
Net	67	87
Licensing Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carring Amount	347	347
Accumulated Amortization	214	203
Net	$ 133	$ 144

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Note 9 - Segment Information (Details) (Europe and Canada [Member], USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Europe and Canada [Member]
Note 9 - Segment Information (Details) [Line Items]
Revenues	$ 3,170	$ 3,125	$ 6,256	$ 5,643

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Note 5 - Senior Credit Facility, Subordinated Convertible Note Payable, Net - CD Financial, LLC and other Long Term Debt (Tables)

6 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

	Principal Amount						Interest Rate					Maturity Date
	As of December 31, 2013			As of June 30, 2013
Revolving advances under Senior Credit Facility with PNC Bank, National Association	$	4,234		$	4,543					3.25	%			6/27/2017
Installment Note with PNC Bank		2,679			3,239					3.75	%			6/27/2017
Promissory Note with CD Financial, LLC		1,714			1,714					6.00	%			7/7/2017
Promissory Note with Vitamin Realty, LLC		686			686					4.00	%			7/7/2017
Capitalized lease obligations		111			58			5.30%	-	7.10	%	2/28/2015	-	11/20/2016
Promissory Note with E. Gerald Kay		27			27					4.00	%			7/7/2017
Promissory Note with Acura Financial Services		28			32					1.90	%			4/15/2017
Total outstanding debt		9,479			10,299
Less: Revolving Advances		(4,234	)		(4,543	)
Current portion of long term debt		(598	)		(868	)
Long term debt	$	4,647		$	4,888
Convertible Note payable - CD Financial, LLC	$	5,350		$	5,350					6.00	%			7/7/2017
Unamortized discount for embedded derivative		(395	)		(449	)
Convertible Note payable, net - CD Financial, LLC	$	4,955		$	4,901

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

	December 31, 2013			June 30, 2013			Issuance Date- June 27, 2012
Risk Free Interest Rate		0.78	%		0.66	%		0.72	%
Volatility		102.10	%		118.50	%		144.10	%
Term (years)	3.5			4			5
Dividend Rate		0.00	%		0.00	%		0.00	%
Closing Price of Common Stock	$	0.19		$	0.15		$	0.09