inbp20200630

Property, Plant and Equipment Disclosure [Text Block]

Note

. Property and Equipment

, net

Property and equipment consists of the following:

	June 30,
	2020			2019

Land and building	$	1,250		$	1,250
Leasehold improvements		1,287			1,282
Machinery and equipment		6,465			6,280
Transportation equipment		6			6
		9,008			8,818
Less: Accumulated depreciation and amortization		(7,312	)		(7,040	)
Total	$	1,696		$	1,778

Depreciation and amortization expense was

$312

and

$288

for the fiscal years ended

June 30, 2020

and

2019,

respectively. In the fiscal years ended

June 30, 2020

and

2019,

the Company disposed of fully depreciated property and equipment with an original cost of

$40

and

$38,

respectively.

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Note 5 - Senior Credit Facility and Other Long Term Debt

12 Months Ended

Jun. 30, 2020

Debt Disclosure [Text Block]

Note

Senior

Credit Facility

and other Long Term Debt

As of

June 30, 2020

and

2019,

the Company had the following debt outstanding:

	Principal Amount						Interest Rate			Maturity Date
	June 30,
	2020			2019

Revolving advances under Senior Credit Facility with PNC Bank, National Association	$	4,046		$	5,834			*		5/15/2024
Installment Note with PNC Bank		2,584			3,542			*		5/15/2024
Installment Note with PNC Equipment Finance, LLC		-			8			4.57	%	7/29/2019
Payroll Protection Program Loan with PNC Bank		1,639			-			1.00	%	4/30/2022
Finance lease obligations		75			269			4.01% - 7.28	%	12/1/2020
Total outstanding debt		8,344			9,653
Less: Revolving Advances		(4,046	)		(5,834	)
Prepaid financing costs		(39	)		(50	)
Current portion of long term debt, net		(2,823	)		(1,047	)
Long term debt, net	$	1,436		$	2,722
* See table below

ENIOR CREDIT FACILITY

May 15, 2019,

the Company, MDC, AgroLabs, IHT, IHT Properties Corp. (“IHT Properties”) and Vitamin Factory (collectively, the “Borrowers”) amended the Revolving Credit, Term Loan and Security Agreement (the “Amended Loan Agreement”) with PNC Bank, National Association as agent and lender (“PNC”) and the other lenders party thereto entered into on

June 27, 2012,

as amended on

February 19, 2016.

The Amended Loan Agreement provides for a total of

$11,585

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

$3,585

(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 common stock of iBio owned by the Company. Revolving Advances bear interest at PNC's Base Rate or the Eurodollar Rate, at Borrowers' option, plus

2.50%

The Term Loan bears interest at PNC's Base Rate or the Eurodollar Rate at Borrowers' option, plus

3.00%

As of

June 30, 2020

and

2019,

the Company had amounts outstanding utilizing the Eurodollar Rate of

and

$4,250

and

$3,455,

respectively, under the Revolving Advances and Term Note, respectively, with interest rates as of

June 30, 2020

and

June 30, 2019

as follows (based on the respective base rate plus

2.50%

on Revolving Advances and

3.00%

on the Term Note in effect as of the respective dates):

	June 30,
	2020			2019

Revolving Credit Facility:
Base Rate Interest		3.25	%		5.50	%
Eurodollar Rate		N/A			4.881	%
Term Loan:
Base Rate Interest		3.50	%		5.75	%
Eurodollar Rate		N/A		5.381% and 5.3838		%

Upon and after the occurrence of any event of default under the Amended 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

May 15, 2024 (

the “Senior Maturity Date”).

eighty-four

(

) consecutive monthly installments of principal, the

first

eighty-three

(

) of which shall be in the amount of

$43,

commencing on the

first

business day of

June, 2019,

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 Senior Maturity Date. The foregoing is subject to customary mandatory prepayment provisions and acceleration upon the occurrence of any event of default under the Amended Loan Agreement or earlier termination of the Amended Loan Agreement pursuant to the terms thereof.

The Revolving Advances are subject to the terms and conditions set forth in the Amended Loan Agreement and are made in aggregate amounts at any time equal to the lesser of (

)

$8,000

or (y) an amount equal to the sum of: (i) up to

85%,

subject to the provisions in the Amended Loan Agreement, of eligible accounts receivables (“Receivables Advance Rate”), plus (ii) up to the lesser of (A)

75%,

subject to the provisions in the Amended 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 PNC

may

reasonably deem proper and necessary from time to time.

twenty-five

percent (

25%

) of Excess Cash Flow for each fiscal year commencing with the fiscal year ended

June 30, 2016,

payable upon delivery of the financial statements to PNC referred to in and required by the Amended 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 amount shall be applied ratably to the outstanding principal installments of the Term Loan in the inverse order of the maturities thereof. The Amended 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 Amended Loan Agreement. As of

June 30, 2020,

the Company was in compliance with the fixed charge coverage ratio maintenance requirement, with the required annual payments of

25%

of the Excess Cash Flow for each fiscal year commencing with the fiscal year ended

June 30, 2016

and used the proceeds of

$101

from the sale of iBio Stock in the fiscal year ended

June 30, 2020

to repay the Term Loan.

) are established.

May 15, 2019,

the Promissory Note, dated as of

June 27, 2012,

by Integrated BioPharma, Inc. and payable to the order of CD Financial, in the original principal amount of

$1,714,

as amended (the “Liquidity Note”), was satisfied in full with the repayment of principal and interest in the amount of

$1,718.

The Liquidity Note was permitted to be paid in full in the Amended Loan Agreement with PNC Bank.

July 31, 2018,

the Company authorized the issuance of

8,230,769

shares of the Company's common stock (“Common Shares”) to CD Financial. The Common Shares were issued upon the exercise by CD Financial of its conversion right pursuant to the Amended and Restated Securities Purchase Agreement, dated as of

June 27, 2012,

by and among Integrated BioPharma, Inc., as amended, and in accordance with Section

(b) of the Amended and Restated Convertible Secured Promissory Note, dated as of

June 27, 2012,

by Integrated BioPharma, Inc. and payable to the order of CD Financial, LLC, in the original principal amount of

$5,350,

as amended (the “CD Convertible Note”). The CD Convertible Note was convertible at the option of CD Financial into Common Shares at a conversion price of

$0.65

per share, subject to customary adjustments. CD Financial exercised its conversion right with respect to the entire principal amount due under the CD Convertible Note. The Common Shares issued to CD Financial were issued at a conversion price of

$0.65

per Common Share.

OTHER LONG TERM DEBT

Paycheck Protection Program Term Note.

April 29, 2020,

the Company entered into a Paycheck Protection Program Term Note (the “PPP Note”) with PNC Bank in the amount of

$1,639.

The PPP Note has an interest rate of

and a maturity date of

April 30, 2022.

The PPP Note was issued by PNC Bank to the Company pursuant to the Coronavirus, Aid, Relief, and Economic Security Act's (the “CARES Act”) (P.L.

116

136

) Paycheck Protection Program (the “Program”). Under the Program, all or a portion of the PPP Note

may

be forgiven in accordance with the Program requirements. On

August 20, 2020,

the PPP Note was

amended to conform to the provisions under the Paycheck Protection Program Flexibility Act of

2020

(the “Flexibility Act”), which was signed into law on

June 5, 2020.

The Flexibility Act significantly modified the loan forgiveness process and provided other benefits to the PPP loan recipient. The amount of the forgiveness shall be calculated (and

may

be reduced) in accordance with the requirements of the Program, including the provisions of Section

1106

of the Cares Act and the Flexibility Act.

more than

40%

of the amount forgiven can be attributable to non-payroll costs, as defined in the Program. There are

payments of interest or principal amortization due under the PPP Note while the PPP Note is in the Deferral Period. The Deferral Period is the period beginning on the date of this Note,

April 29, 2020,

and ending on the Deferral Expiration Date. The Deferral Expiration Date is the date any forgiven amount is remitted to PNC Bank or the date that a final determination is made that

portion of the PPP Loan will be forgiven. If the Company fails to apply for loan forgiveness, the Deferral Expiration Date will be

August 15, 2021.

Any amounts

not

forgiven under the Program will be payable in equal installments of principal plus any interest owed on the payment date from the Deferral Expiration Date through the Maturity Date. Additionally, any accrued interest that is

not

forgiven under the Program will be due on the First Payment Date, which is the

of the month following the month in which the Deferral Expiration Date occurs.

If the Company fails to make timely payments under the PPP Note, the Company, PNC Bank will charge a late payment fee equal to the lesser of

of the amount of such payment or

$100.

In the event of Default, as defined in the PPP Note, the default rate of interest will

in excess of the interest rate in effect from time to time under the PPP Note.

Related Party Debt.

June 27, 2012,

MDC and the Company entered into a promissory note with Vitamin Realty Associates, LLC (“Vitamin Realty”) in the principal amount of approximately

$686

(the “Vitamin Note”). 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

10.

Commitments and Contingencies (a) Leases – Related Parties Leases). The Vitamin Note was scheduled to mature on

February

29,

2020,

as amended on

February 19, 2016.

The Vitamin Note accrued interest at an annual rate of

per annum. Interest in respect of the Vitamin Note was payable on the

first

business day of each calendar month. Pursuant to the terms of the Amended Loan Agreement, during the effectiveness of the Senior Credit Facility, the Vitamin Note could only be repaid or prepaid if certain conditions set forth in the Amended Loan Agreement were satisfied.

May 15, 2019,

the Vitamin Note was satisfied in full with the repayment of principal and interest in the amount of

$689.

The Vitamin Note was permitted to be paid in full in the Amended Loan Agreement with PNC Bank.

Financed Lease Obligations.

February 25

and

April 25, 2020,

the separate financed lease obligations entered into by the Company on

February 14, 2018

and

April 17, 2018,

respectively, with Marlin Equipment Finance in the amount of

$38

and

$15,

respectively, which leases were secured by certain machinery and equipment were satisfied with all payments being made under the financed lease obligations. The lease payments were approximately

and

$1,

respectively, and had imputed interest rates of

9.26%

and

9.38%,

respectively.

November 1, 2019,

the financed lease obligation entered into by the Company on

December 22, 2017

with First American Equipment Finance in the amount of

$143,

which lease was secured by certain machinery and equipment, was satisfied with all payments being made under the financed lease obligation. The monthly lease payment was approximately

and had an imputed interest rate of

6.56%.

February 1, 2019,

the Company entered into a financed lease obligation with First American Equipment Finance (“First American”) in the amount of

$233,

which lease is secured by certain machinery and equipment and matures on

February 1, 2021.

The Company sold certain machinery, purchased from equipment suppliers other than First American in the aggregate amount of

$233,

to First American for

$233

and leased the sold equipment back from First American for monthly payments in the amount of approximately

$10

with an imputed interest rate of

7.28%.

February 1, 2019,

the financed lease obligation entered into by the Company on

March 17, 2017

with First American in the amount of

$158,

which lease was secured by certain machinery and equipment, was satisfied with all payments being made under the financed lease obligation. The monthly lease payment was approximately

and had an imputed interest rate of

3.86%.

December 8, 2015,

the Company entered into a financed lease obligation with Wells Fargo Equipment Finance, Manufacturer Services Group (“Wells Fargo”) in the amount of

$129

which matures on

December 8, 2020.

The lease payment amount of approximately

is payable monthly and has an imputed interest rate of

4.01%.

Equipment Financing

Not

September 22, 2014,

MDC entered into a Convertible Line of Credit Note (the “LC Note”) in the amount of

$350

with PNC Equipment Finance, LLC (“PNCEF”). The LC Note is convertible into a term note upon completion of the advances under the LC Note. During the period from

September 22, 2014

to and including the Conversion Date (defined below), the Company was able to borrow up to the full value of the LC Note (

$350

). The “Conversion Date” is the earliest to occur of (i)

July 31, 2015

or (ii) the date when the Company notifies PNCEF that

more advances will be requested or (iii) the date when PNCEF has made advances in an aggregate amount of

$350.

The Company completed the advances on

July 29, 2015

and converted the LC Note to a

four

year term note in the amount of

$350.

Prior to the Conversion Date, amounts outstanding under the LC Note bore interest at a rate per annum (“Floating Rate”) which is at all times equal to the sum of LIBOR Rate plus

325

basis points (

3.25%

). On the Conversion Date, the Company elected a fixed rate interest of

4.57%

as offered by PNCEF.

July 29, 2019,

the LC Note was satisfied in full with the final monthly payment of principal and interest in the amount of

paid.

XML 17 R12.htm IDEA: XBRL DOCUMENT

Note 6 - Interest Expense

12 Months Ended

Jun. 30, 2020

Interest Expense [Text Block]

Note

. Interest Expense

The components of interest expense for the fiscal years ended

June 30, 2020

and

2019

are presented below:

	For the Fiscal Year Ended June 30,
	2020		2019

Interest on Senior Debt	$	336	$	387
Interest on CD Convertible Note and Liquidity Note - CD Financial		-		115
Amortization of prepaid financing costs		22		55
Accretion of discount on Convertible Note - CD Financial		-		3
Other related parties		-		24
Interest on financed lease obligations		13		19
Interest on PNC Equipment Finance LLC Term Note		-		3
Other interest expense		26		24
Interest Expense	$	397	$	630

The weighted average interest rate paid was

4.71%

and

5.35%

in the fiscal years ended

June 30, 2020

and

2019,

respectively. As of

June 30, 2020

and

2019,

the Company had accrued unpaid interest of approximately

$19

and

$13,

respectively.

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Note 7 - Income Taxes

12 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Text Block]

Note

. Income Taxes

The components of the provision for income taxes consists of the following:

	For the fiscal year
	ended June 30,
	2020			2019

Current - Federal	$	(40	)	$	36
Current - State and local		369			287
Deferred - Federal and state		549			621
Change in valuation allowance		(1,898	)		(590	)
Income tax (benefit) expense, net	$	(1,020	)	$	354

In the fiscal year ended

June 30, 2020

the Company recognized an income tax benefit of

$1,020

and in the fiscal year ended

June 30, 2019,

a provision for income taxes of

$354.

A reconciliation of the statutory tax rate to the effective tax rate is as follows:

	For the fiscal year
	ended June 30,
	2020			2019
Statutory federal income tax rate		21.0	%		21.0	%
Statutory state income tax rate		9.5	%		7.0	%
Effective state income tax rate		2.5	%		7.0	%
Change in valuation allowance		(69.0	)%		(20.7	)%
Other temporary differences		2.9	%		2.0	%
Non-deductible expenses		0.1	%		1.0	%
Effective income tax rate		(33.0	)%		17.3	%

	June 30,
	2020			2019
Deferred Tax Assets
Net operating loss	$	7,047		$	7,642
Capital loss carryover		258			16
Valuation adjustment on investment in iBio, Inc.		254			512
Depreciation		(204	)		(225	)
Inventory		142			104
Other		34			31
Valuation allowance		(5,648	)		(7,546	)
Total deferred tax asset, net	$	1,883		$	534

The Company has net operating losses (“NOL”) of approximately

$30,019

for federal purposes which expire beginning in

2025.

State NOL's of approximately

$7,845

which expire beginning in

2020

through

2035.

The Company also has capital loss carryforwards of

$1,229

of which

$77

will expire in

2020

and

$1,152

2025.

The Company files a consolidated U.S. federal income tax return; however, the various state tax returns were filed on a stand-alone basis for the Company and its subsidiaries until this fiscal year ended

June 30, 2020,

which state income tax return will be filed on a combined basis. MDC has fully utilized its state NOL's resulting in taxable income on a state level basis for the combined group.

Realization of the NOL carryforwards and other deferred tax temporary differences is contingent on future taxable earnings. The Company's deferred tax asset was reviewed for expected utilization using a “more likely than

not”

approach by assessing the available positive and negative evidence surrounding its recoverability. Accordingly, a valuation allowance has been recorded against the Company's deferred tax asset, as it was determined based upon past taxable losses and inconsistent taxable income in the past few years, that it was “more likely than

not”

that the Company's deferred tax assets would

not

be realized. As of

June 30, 2020

and

2019,

management determined that certain of the Company's deferred tax assets were “more likely than

not”

to be realizable and the Company recognized deferred tax benefits related to the release of the valuation allowance on those assets of approximately

$1,898

and

$455,

respectively.

not”

criteria is satisfied.

There were

significant uncertain tax positions taken, or expected to be taken, in a tax return that would be determined to be an unrecognized tax benefit taken or expected to be taken in a tax return that should have been recorded on the Company's consolidated financial statements for the year ended

June 30, 2020.

Additionally, there were

interest or penalties outstanding as of or for each of the fiscal years ended

June 30, 2020

and

2019.

The latest

three

years of Federal and

four

years of state tax returns filed for the fiscal years ended through

June 30, 2019

are currently open except for the State of New Jersey tax filings for MDC which have been reviewed for the tax periods of

2014,

2015,

2016

and

2017.

The tax returns for the year ended

June 30, 2020

will be filed by

March 15, 2021.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

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Note 8 - Profit-sharing Plan	12 Months Ended
Note 8 - Profit-sharing Plan	Jun. 30, 2020
Notes to Financial Statements
Retirement Benefits [Text Block]	Note 8 . Profit-Sharing Plan The Company maintains a profit-sharing plan, which qualifies under Section 401 (k) of the Internal Revenue Code, covering all nonunion employees meeting age and service requirements. Contributions are determined by matching a percentage of employee contributions. For the fiscal years ended June 30, 2020 and 2019, the Company contributed approximately $68 and $69, respectively, into the plan for the benefit of the eligible employees participating in the plan.

The entire disclosure for retirement benefits.

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Note 9 - Significant Risks and Uncertainties	12 Months Ended
Note 9 - Significant Risks and Uncertainties	Jun. 30, 2020
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 9 . Significant Risks and Uncertainties (a) Concentrations of Credit Risk-Cash. The Company maintains balances at several financial institutions. Deposits at each institution are insured by the Federal Deposit Insurance Corporation up to $250. As of June 30, 2020, the Company had $70 in uninsured deposits at these financial institutions. (b) Concentrations of Credit Risk-Receivables. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk of its customers, establishes an allowance for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowances is limited. The Company does not require collateral in relation to its trade accounts receivable credit risk. (c) Major Customers. For the fiscal years ended June 30, 2020 and 2019, approximately 92% and 91% of consolidated net sales, respectively, were derived from two customers. These two customers are in the Company's Contract Manufacturing Segment and represent approximately 69% and 26% of this segment's net sales in each of the fiscal years ended June 30, 2020 and 2019. Accounts receivable from these two major customers represented approximately 92% and 88% of total net accounts receivable as of June 30, 2020 and 2019, respectively. One other customer in the Other Nutraceutical Segment, while not a significant customer of the Company's consolidated net sales, represented approximately 10% and 13% of net sales of the Other Nutraceutical Segment in the fiscal years ended June 30, 2020 and 2019, respectively. The loss of any of these customers could have an adverse effect on the Company's operations. Major customers are those customers who account for more than 10% of net sales. (d) Business Risks. The Company insures its business and assets against insurable risks, to the extent that it deems appropriate, based upon an analysis of the relative risks and costs. The Company believes that the risk of loss from non-insurable events would not have a material adverse effect on the Company's operations as a whole. The raw materials used by the Company are primarily commodities and agricultural-based products. Raw materials used by the Company in the manufacture of its nutraceutical products are purchased from independent suppliers. Raw materials are available from numerous sources and the Company believes that it will continue to obtain adequate supplies. Approximately 72% the Company's employees are covered by a union contract and are employed in its New Jersey facilities. The contract was renewed effective September 1, 2019 and will expire on August 31, 2022. The COVID- 19, or coronavirus, outbreak has the potential to cause a disruption in the Company's supply chain. Currently, some of our suppliers of certain materials used in the production of our supplements are located in China and other impacted countries or other states within the United States. Most of these materials may be obtained from more than one supplier. However, due to port closures and other restrictions resulting from the coronavirus outbreak throughout the world, these suppliers, located both inside and outside of the United States, may have limited supply of the materials, which will cause the price of the materials to increase. These and other disruptions would likely impact the Company's sales and operating results. If the Company is unable to obtain the necessary materials to produce a supplement within the Company's standard lead times, it may delay the production and shipment of those supplements, thereby shifting the timing of recognizing the resulting sale to the Company's customers. In addition, the significant outbreak of this contagious disease in the human population has resulted in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could affect demand for the Company's products and impact the Company's operating results. The Company does not currently anticipate any negative impact to its margins resulting from the coronavirus outbreak, however; if the Company is unable to obtain the necessary materials to produce a supplement within its standard lead times or the necessary safety and cleaning supplies it may delay the production and shipment of those supplements to its customers, thereby shifting the timing of recognizing the resulting sale to its customers.

XML 21 R16.htm IDEA: XBRL DOCUMENT

Note 10 - Commitments and Contingencies

12 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Text Block]

Note

. Commitments and Contingencies

(a)

Leases.

The Company has operating and finance leases for its corporate and sales offices, warehousing and packaging facilities and certain machinery and equipment, including office equipment. The Company's leases have remaining terms of less than

year to less than

years.

The components of lease expense for the fiscal year ended

June 30, 2020

and

2019

were as follows:

	2020						2019
	Related Party - Vitamin Realty		Other Leases		Totals		Related Party - Vitamin Realty		Other Leases		Totals

Operating Lease Costs	$	566	$	104	$	670	$	563	$	112	$	675

Finance Operating Lease Costs:
Amortization of right-of use assets	$	-	$	57	$	57	$	-	$	91	$	91
Interest on operating lease liabilities		-		13		13		-		18		18
Total Finance Lease Costs	$	-	$	70	$	70	$	-	$	109	$	109

Operating

Lease

Liabilities

Related Party

Operating

ase

Liabilities

Warehouse and office facilities are leased from Vitamin Realty, which is

100%

owned by the Company's chairman, and a major stockholder and certain of his family members, who are the Co-Chief Executive Officers and directors of the Company. On

January 5, 2012,

MDC 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. On

May 19, 2014,

AgroLabs entered into an amendment to the lease agreement entered into on

January 5, 2012,

with Vitamin Realty for an additional

2,700

square feet of warehouse space in New Jersey, the term of which was to expire on

January 31, 2019

to extend the expiration date to

June 1, 2024.

This additional lease provides for minimum lease payments of

$27

with annual increases plus the proportionate share of operating expenses.

Rent expense, lease amortization costs and imputed interest costs on these related party leases were

$862

and

$843

for the fiscal years ended

June 30, 2020

and

2019,

respectively, and are included in cost of sales and selling and administrative expenses in the accompanying Consolidated Statements of Income. As of

June 30, 2020

and

2019,

the Company had outstanding current obligations to Vitamin Realty of

$62

and

$67,

respectively, included in accounts payable and accrued expenses and other liabilities in the accompanying Consolidated Balance Sheets. Additionally, as of

June 30, 2020

and

2019,

the Company has operating lease obligations of

$2,794

and

$3,243,

respectively, with Vitamin Realty as noted in the accompany Consolidated Balance Sheet.

Other Operating Lease Liabilities.

The Company has entered into certain non-cancelable operating lease agreements expiring up through

May, 2023,

related to machinery and equipment and office equipment.

As of

June 30, 2020,

the Company's ROU assets, lease obligations and remaining cash commitment on these leases is as follows:

	Right-of-use Assets		Current Portion Operating Lease Obligations		Operating Lease Obligations		Remaining Cash Commitment

Vitamin Realty Leases	$	2,788	$	467	$	2,327	$	3,103
Machinery and equipment leases		28		20		8		29
Office equipment leases		8		1		7		9
	$	2,824	$	488	$	2,342	$	3,141

As of

June 30, 2019,

the Company's ROU assets, lease obligations and remaining cash commitment on these leases is as follows:

	Right-of-use Assets		Current Portion Operating Lease Obligations		Operating Lease Obligations		Remaining Cash Commitment

Vitamin Realty Leases	$	3,236	$	450	$	2,793	$	3,668
Machinery and equipment leases		26		11		15		27
Office equipment leases		22		9		14		24
	$	3,284	$	470	$	2,822	$	3,719

As of

June 30, 2020

and

2019,

the Company's weighted average discount rate and remaining term on lease liabilities is approximately

3.75%

and

3.76%

and

5.4

years and

6.4

years, respectively.

Supplemental cash flows information related to leases for the fiscal year ended

June 30, 2020

is as follows:

	Related Party - Vitamin Realty		Other Leases		Totals

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases	$	565	$	92	$	657
Operating cash flows from finance lease obligations		-		13		13
Financing cash flows from finance lease obligations		-		194		194

Supplemental cash flows information related to leases for the fiscal year ended

June 30, 2019

is as follows:

	Related Party - Vitamin Realty		Other Leases		Totals

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases	$	565	$	92	$	657
Operating cash flows from finance lease obligations		-		18		18
Financing cash flows from finance lease obligations		-		233		233

In the fiscal year ended

June 30, 2020,

the Company renewed, for

one

year, an operating lease for office space with an annual commitment of

$25

and entered into a

five

-year lease agreement for the rental of office equipment with an annual commitment of

$2.

The Company entered into a sales/lease back commitment in the fiscal year ended

June 30, 2019

in the amount of

$233,

see Note

- Senior Credit Facility and other Long Term Debt.

Maturities of operating lease liabilities as of

June 30, 2020

were as follows:

Year ending June 30,	Operating Lease Commitment			Related Party Operating Lease Commitment			Financed Lease Obligations			Total

2021	$	22		$	565		$	77		$	664
2022		11			565			-			576
2023		2			565			-			567
2024		2			565			-			567
2025		1			563			-			564
Thereafter		-			280			-			280
Total minimum lease payments		38			3,103			77			3,218
Imputed interest		(2	)		(309	)		(2	)		(313	)
Total	$	36		$	2,794		$	75		$	2,905

Total rent expense, including real estate taxes and maintenance charges, was approximately

$1,040

and

$1,013

for the fiscal year ended

June 30, 2020

and

2019,

respectively. Rent and lease amortization and lease costs are included in cost of sales and selling and administrative expenses in the accompanying Consolidated Statements of Income.

(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.

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Note 11 - Related Party Transactions	12 Months Ended
Note 11 - Related Party Transactions	Jun. 30, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 1 1 . Related Party Transactions See Note 5. Senior Credit Facility and other Long Term Debt for related party securities transactions. See Note 10 (a) - Leases for related party lease transactions.

XML 23 R18.htm IDEA: XBRL DOCUMENT

Note 12 - Equity Transactions and Stock-based Compensation

12 Months Ended

Jun. 30, 2020

Stockholders' Equity Note Disclosure [Text Block]

Note

. Equity Transactions

and Stock-Based Compensation

Stock Option Plan

The Company has adopted a stock option plan for the granting of options or restricted shares to employees, officers, directors and consultants of the Company that originally provided for the issuance of up to

7,000,000

shares of common stock, at the discretion of the Board of Directors. Subsequent to the adoption, the Board of Directors and stockholders approved additional common stock shares aggregating

6,000,000

to be available for grant, for a total of

13,000,000

shares of common stock reserved for issuance under the Company's

2001

Stock Option Plan, as amended (the “Plan”). The Company also has a

1997

Stock Option Plan with

5,000,000

shares of common stock reserved for issuance. Stock option grants

may

not

be priced less than the fair market value of the Company's common stock at the date of grant. Options granted are generally for

ten

-year periods, except that incentive stock options granted to a

10%

stockholder (as defined) are limited to

five

-year terms. As of

June 30, 2020,

the Company has

8,799,389

shares of common stock remaining under the Plans.

May, 2019,

there were

1,883,000

stock options authorized by the Board of Directors and issued to Company officers, employees and directors with an exercise price ranging from

$0.21

$0.23,

vesting over

three

years, with terms of either

five

ten

years. During the fiscal year ended

June 30, 2020

and

2019,

the Company incurred stock compensation expense of approximately

$59

and

$144.

The Company expects to record additional stock compensation expense of approximately

$65

over the estimated weighted average remaining vesting period of

two

years. There were

stock option grants in the fiscal year ended

June 30, 2020.

The Company used the following assumptions to calculate the fair value of the stock option grants using the Black-Scholes option pricing model on the measurement date during the year ended

June 30, 2019:

Risk Free Interest Rate		2.12% to 2.29	%
Volatility		81.1% to 90.3	%
Term	4 1/2 to 10 years
Dividend Rate		0.00	%
Closing Price of Common Stock	$	0.21

The Company calculates expected volatility for a stock-based grant based on historic daily stock price observations of its common stock during the period immediately preceding the grant that is equal in length to the expected term of the grant. The expected term of the options is estimated based on the Company's historical exercise rate and forfeiture rates are estimated based on employment termination experience. The risk free interest rate is based on U.S. Treasury yields for securities in effect at the time of grants with terms approximating the term of the grants. The assumptions used in the Black-Scholes option valuation model are highly subjective, and can materially affect the resulting valuations.

For fiscal years ended

June 30, 2020

and

2019,

stock options in the aggregate amount of

none

and

2,020,500,

respectively, were

not

included in the computation of weighted average diluted common shares outstanding as the effect of doing so would be anti-dilutive.

Additionally, in the fiscal year ended

June 30, 2019,

the

8,230,769

common shares underlying the convertible note were potentially dilutive and therefore included in the diluted earnings per share calculation on a proportionate basis prior to the conversion into common shares of the Company as of

July 24, 2018

and the results were antidilutive. (See Note

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

The intrinsic value of options outstanding and exercisable at

June 30, 2020

and

2019

was

$846

and

$256,

respectively.

A summary of the Company's stock option activity, and related information for the years ended

June 30,

follows:

				Weighted
				Average
				Exercise
	Options			Price

Outstanding as of July 1, 2018		2,439,250		$	0.29
Granted		1,883,000			0.21
Exercised		(200,000	)		0.12
Terminated		(17,500	)		0.18
Expired		(343,250	)		0.14
Outstanding as of June 30, 2019		3,761,500			0.16
Granted		-			-
Exercised		(80,000	)		0.09
Terminated		(137,500	)		0.14
Expired		(200,000	)		0.10
Outstanding as of June 30, 2020		3,344,000		$	0.16

Exercisable at June 30, 2019		2,863,800		$	0.14
Exercisable at June 30, 2020		2,875,533		$	0.16

The following table summarizes the range of exercise prices and weighted-average exercise prices for stock options outstanding and exercisable as of

June 30, 2020

under the Company's stock option plans:

									Weighted
									Average
							Weighted		Remaining				Weighted
							Average		Contractual				Average
Range of Exercise Price					Outstanding		Exercise Price		Life (years)		Exercisable		Exercise Price

$	0.09	-	$	0.10		1,386,000	$	0.09		4.9		1,386,000	$	0.09
$	0.21	-	$	0.21		1,408,000		0.21		8.9		1,022,867		0.21
$	0.23	-	$	0.25		550,000		0.23		6.4		466,666		0.23
$	0.09	-	$	0.25		3,344,000	$	0.16		7.7		2,875,533	$	0.16

XML 24 R19.htm IDEA: XBRL DOCUMENT

Note 13 - Segment Information

12 Months Ended

Jun. 30, 2020

Segment Reporting Disclosure [Text Block]

Note

Segment Information

The Company has divided its operations into

two

reportable segments; Contract Manufacturing and Other Nutraceutical Businesses. The international sales, concentrated primarily in Europe and Canada, for the fiscal years ended

June 30, 2020

and

2019

were

$8,473

and

$6,807,

respectively.

Financial information relating to the fiscal years ended

June 30, 2020

and

2019

operations by business segment are as follows:

		Sales, Net						Segment
		U.S.		International				Gross				Capital		Total
		Customers		Customers		Total		Profit		Depreciation		Expenditures		Assets
Contract Manufacturing	2020	$	42,944	$	8,382	$	51,326	$	6,427	$	310	$	221	$	19,581
	2019		41,817		6,625		48,442		5,780		286		413		17,580

Other Nutraceutical Businesses	2020		1,352		91		1,443		300		2		9		3,363
	2019		1,353		182		1,535		442		2		1		2,210

Total Company	2020		44,296		8,473		52,769		6,727		312		230		22,944
	2019		43,170		6,807		49,977		6,222		288		414		19,790

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Consolidation, Policy [Policy Text Block]

XML 25 R1.htm IDEA: XBRL DOCUMENT

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Jun. 30, 2020	Sep. 23, 2020	Dec. 31, 2019
Document Information [Line Items]
Entity Registrant Name	INTEGRATED BIOPHARMA INC
Entity Central Index Key	0001016504
Trading Symbol	inbp
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		29,645,943
Entity Public Float			$ 2,301,741
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Title of 12(g) Security	Common Stock, $.002 par value per share

XML 26 R20.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Principles of Consolidation.

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany transactions and accounts have been eliminated in consolidation.

Reclassification, Comparability Adjustment [Policy Text Block]

Reclassifications.

Certain prior year amounts have been reclassified to conform to the current year presentation.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates.

not

readily apparent from other sources. The most significant estimates include:

● sales returns and allowances;

● allowance for doubtful accounts;

● inventory valuation;

● valuation and recoverability of long-lived assets;

● income taxes and valuation allowance on deferred income taxes, and;

● accruals for, and the probability of, the outcome of any current litigation.

Revenue from Contract with Customer [Policy Text Block]

Revenue Recognition.

The Company recognizes product sales revenue, the prices of which are fixed and determinable, when title and risk of loss have transferred to the customer, when estimated provisions for product returns, rebates, charge-backs and other sales allowances are reasonably determinable, and when collectability is reasonably assured. Accruals for these items are presented in the consolidated financial statements as reductions to sales. The Company's net sales represent gross sales invoiced to customers, less certain related charges for discounts, returns, rebates, charge-backs and other allowances. Cost of sales includes the cost of raw materials and all labor and overhead associated with the manufacturing and packaging of the products. Gross margins are affected by, among other things, changes in the relative sales mix among our products and valuation and/or charge off of slow moving, expired or obsolete inventories. To perform revenue recognition for arrangements within the scope of ASC

606,

the Company performs the following

five

steps:

●

identification of the promised goods or services in the contract;

●

determination of whether the promised goods or serves are performance obligations including whether they are distinct in the context of the contract;

●

measurement of the transaction price, including the constraint on variable consideration;

●

allocation of the transaction price to the performance obligations based on estimated selling prices; and

●

606.

Cost of Goods, Shipping and Handling Costs [Policy Text Block]

Shipping and Handling Costs.

Shipping and handling costs were approximately

$287

and

$205

for the fiscal years ended

June 30, 2020

and

2019,

respectively, and are included in cost of sales in the accompanying Consolidated Statements of Income.

Share-based Payment Arrangement [Policy Text Block]

Stock-Based Compensation.

The Company has

two

stock-based compensation plans that have outstanding options issued in accordance with such plans. The Company periodically grants stock options to employees and directors in accordance with the provisions of its stock option plans, with the exercise price of the stock options being set at the closing market price of the common stock on the date of grant. Stock based compensation expense is recognized based on the estimated fair value, utilizing a Black-Scholes option pricing model, of the instrument on the date of grant over the requisite vesting period, which is generally

three

years.

Income Tax, Policy [Policy Text Block]

Income Taxes

. The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than

not

that all or a portion of a deferred tax asset will

not

be realized.

The Company files a U.S. federal income tax return as well as returns for various states. The Company's income taxes have

not

been examined by any tax authorities for the periods subject to review by such taxing authorities, except for the State of New Jersey tax filings for MDC which were reviewed by the State of New Jersey for the then open tax periods of

2014

through

2017

and resulted in an adjustment of approximately

$23

for all periods reviewed and included in the income tax provision in the fiscal year ended

June 30, 2019.

Uncertain tax positions, if any, taken on our tax returns are accounted for as liabilities for unrecognized tax benefits. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in general and administrative expenses in the Consolidated Statements of Income. There were

liabilities recorded for uncertain tax positions at

June 30, 2020

2019.

Lessee, Leases [Policy Text Block]

Leases.

We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities, and operating lease liabilities on our consolidated balance sheets. Finance leases are included in property and equipment, current portion of long term debt, and long-term debt obligation on our consolidated statement of financial condition.

not

provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. Our lease terms

may

include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term.

Earnings Per Share, Policy [Policy Text Block]

Earnings Per Share.

Basic earnings per common share amounts are based on 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, subject to anti-dilution limitations using the treasury stock method and if converted method.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments.

Generally accepted accounting principles require disclosing the fair value of financial instruments to the extent practicable for financial instruments which are recognized or unrecognized in the balance sheet. The fair value of the financial instruments disclosed herein is

not

necessarily representative of the amount that could be realized or settled, nor does the fair value amount consider the tax consequences of realization or settlement.

Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]

Accounts Receivable and Allowance for Doubtful Accounts.

In the normal course of business, the Company extends credit to customers. Accounts receivable, less the allowance for doubtful accounts, reflect the net realizable value of receivables, and approximate fair value. The Company believes there is

concentration of credit risk with any single customer whose failure or nonperformance would materially affect the Company's results other than as discussed in Note

(c) – Significant Risks and Uncertainties – Major Customers. On a regular basis, the Company evaluates its accounts receivables and establishes an allowance for doubtful accounts based on a combination of specific customer circumstances, credit conditions, and historical write-offs and collections. The allowance for doubtful accounts as of

June 30, 2020

and

2019

was

$99

and

$84,

respectively. Accounts receivable are charged off against the allowance after management determines that the potential for recovery is remote.

Inventory, Policy [Policy Text Block]

Inventories.

Inventories are stated at the lower of cost or net realizable value. Cost is determined using the

first

-in,

first

-out method. Allowances for obsolete and overstock inventories are estimated based on “expiration dating” of inventory and projection of sales.

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment.

Property and equipment are recorded at cost and are depreciated using the straight line method over the following estimated useful lives:

Building	15 Years
Leasehold Improvements	Shorter of estimated useful life or term of lease
Machinery and Equipment	7 Years
Transportation Equipment	5 Years

Goodwill and Intangible Assets, Policy [Policy Text Block]

Impairment of Long-Lived Assets.

Long-lived assets are reviewed for impairment when circumstances indicate that the carrying value of an asset

may

not

be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future net cash flows estimated by the Company to be generated by such assets. If such assets are considered to be impaired, the impairment to be recognized is the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of by sale are recorded as held for sale at the lower of carrying value or estimated net realizable value. Tests for impairment or recoverability are performed at least annually and require significant management judgment and the use of estimates which the Company believes are reasonable and appropriate at the time of the impairment test. Future unanticipated events affecting cash flows and changes in market conditions could affect such estimates and result in the need for an impairment charge. The Company also re-evaluates the periods of amortization to determine whether circumstances warrant revised estimates of current useful lives.

impairment losses were identified or recorded in the fiscal years ended

June 30, 2020

and

2019

on the Company's other intangible assets.

Investment, Policy [Policy Text Block]

Investment in iBio, Inc.

Prior to the adoption of ASU

2016

July 1, 2019,

the Company accounted for its investment in iBio, Inc. (“iBio”) common stock on the cost basis as it retained approximately

of its interest in iBio (the “iBio Stock”) at the time of the spin-off of this subsidiary in

August 2008.

The Company reviewed its investment in iBio for impairment and recorded a loss when there was deemed to be a permanent impairment of the investment. To date, there were cumulative impairment charges of approximately

$2,562.

During the year ended

June 30, 2020,

the Company recognized an unrealized gain of approximately

$103

and realized gains of

$72.

The market value of the iBio Stock as of

June 30, 2020

and

2019,

was approximately

$134

and

$84,

respectively, based on the trade price at the close of trading on

June 30, 2020

and

2019,

respectively. The investment in iBio is included in other current assets in the consolidated balance sheets as of

June 30, 2020

and

2019

at the respective market values.

New Accounting Pronouncements, Policy [Policy Text Block]

Accounting Pronouncements

Recently Adopted

October, 2016,

the FASB issued ASU

No.

2016

16,

“Income Taxes (Topic

740

): Intra-Entity Transfers of Assets Other than Inventory,” which eliminates the requirement to defer recognition of income taxes on intra-entity transfers until the asset is sold to an outside party. The new guidance requires the recognition of current and deferred income taxes on intra-entity transfers of assets other than inventory, such as intellectual property and property, plant and equipment, when the transfer occurs. The guidance is effective for the Company on

July 1, 2019

and early adoption is permitted. The standard requires a “modified retrospective” adoption, meaning the standard is applied through a cumulative adjustment in retained earnings as of the beginning of the period of adoption. This new guidance did

not

have a material impact on the Company's Consolidated Financial Statements.

July 2017,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)

2017

11,

"Earnings Per Share (Topic

260

) Distinguishing Liabilities from Equity (Topic

480

) Derivatives and Hedging (Topic

815

)," which addresses the complexity of accounting for certain financial instruments with down round features. The amendments are effective for the Company on

July 1, 2019

for the fiscal year ended

June 30, 2020,

and the interim periods within it. Early adoption was available. The Company is

not

expecting a material impact on the Company's Consolidated Financial Statements.

Accounting Pronouncements

Not

Yet Adopted

August 28, 2018,

the Financial Accounting Standards Board (“FASB”) issued ASU

2018

13,

Fair Value Measurement: Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (Topic

820

), which changes the fair value measurement disclosure requirements of ASC

820.

This ASU removes certain disclosure requirements regarding the amounts and reasons for transfers between Level

and Level

of the fair value hierarchy and the policy for timing of transfers between the levels. This ASU also adds disclosure requirements regarding unrealized gains and losses included in Other Comprehensive Income for recurring Level

fair value measurements and the range and weighted average of unobservable inputs used in Level

fair value measurements. ASU

2018

is effective for the fiscal year beginning

July 1, 2020,

including interim periods therein. Early adoption is permitted for any eliminated or modified disclosures upon issuance of ASU

2018

13.

The adoption of this standard is

not

expected to have a material impact on the Company's Consolidated Financial Statements.

June 2016,

the FASB issued ASU

2016

“Financial Instruments-Credit Losses-Measurement of Credit Losses on Financial Instruments”. This guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance applies to loans, accounts receivable, trade receivables and other financial assets measured at amortized cost, loan commitments, debt securities and beneficial interests in securitized financial assets, but the effect on the Company is projected to be limited to accounts receivable. The guidance will be effective for the fiscal year beginning on

July 1, 2023,

including interim periods within that year. The adoption of this standard is

not

expected to have a material impact on the Company's Consolidated Financial Statements.

May 2019,

the FASB issued ASU

2019

“Financial Instruments-Credit Losses (Topic

326

)” which provides transition relief for companies adopting ASU

2016

13.

This guidance amends ASU

2016

to allow companies to elect, upon adoption of ASU

2016

13,

the fair value option on financial instruments that were previously recorded at amortized cost under certain circumstances. Companies are required to make this election on and instrument by instrument basis. The guidance will be effective for the fiscal year beginning

July 1,

2023,

including interim periods within that year. The adoption of this standard is

not

expected to have a material impact on the Company's Consolidated Financial Statements.

March 2020,

the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”)

No.

2020

04,

“Reference Rate Reform (Topic

848

): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU provides optional expedients and exceptions for applying generally accepted accounting principles (“GAAP”) to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This new guidance was effective upon issuance of this ASU for contract modifications and hedging relationships on a prospective basis and is

not

expected to have a material impact on the Company's Consolidated Financial Statements.

XML 27 R21.htm IDEA: XBRL DOCUMENT

Note 3 - Inventories (Tables)

12 Months Ended

Jun. 30, 2020

Schedule of Inventory, Current [Table Text Block]

	June 30,
	2020		2019

Raw materials	$	6,610	$	4,550
Work-in-process		2,612		2,325
Finished goods		879		1,944
Total	$	10,101	$	8,819

XML 28 R22.htm IDEA: XBRL DOCUMENT

Note 4 - Property and Equipment, Net (Tables)

12 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Table Text Block]

	June 30,
	2020			2019

Land and building	$	1,250		$	1,250
Leasehold improvements		1,287			1,282
Machinery and equipment		6,465			6,280
Transportation equipment		6			6
		9,008			8,818
Less: Accumulated depreciation and amortization		(7,312	)		(7,040	)
Total	$	1,696		$	1,778

XML 29 R23.htm IDEA: XBRL DOCUMENT

Note 5 - Senior Credit Facility and Other Long Term Debt (Tables)

12 Months Ended

Jun. 30, 2020

Schedule of Debt [Table Text Block]

	Principal Amount						Interest Rate			Maturity Date
	June 30,
	2020			2019

Revolving advances under Senior Credit Facility with PNC Bank, National Association	$	4,046		$	5,834			*		5/15/2024
Installment Note with PNC Bank		2,584			3,542			*		5/15/2024
Installment Note with PNC Equipment Finance, LLC		-			8			4.57	%	7/29/2019
Payroll Protection Program Loan with PNC Bank		1,639			-			1.00	%	4/30/2022
Finance lease obligations		75			269			4.01% - 7.28	%	12/1/2020
Total outstanding debt		8,344			9,653
Less: Revolving Advances		(4,046	)		(5,834	)
Prepaid financing costs		(39	)		(50	)
Current portion of long term debt, net		(2,823	)		(1,047	)
Long term debt, net	$	1,436		$	2,722
* See table below

Schedule of Debt Interest Rates [Table Text Block]

	June 30,
	2020			2019

Revolving Credit Facility:
Base Rate Interest		3.25	%		5.50	%
Eurodollar Rate		N/A			4.881	%
Term Loan:
Base Rate Interest		3.50	%		5.75	%
Eurodollar Rate		N/A		5.381% and 5.3838		%

XML 30 R24.htm IDEA: XBRL DOCUMENT

Note 6 - Interest Expense (Tables)

12 Months Ended

Jun. 30, 2020

Interest Expense Disclosure Table [Table Text Block]

	For the Fiscal Year Ended June 30,
	2020		2019

Interest on Senior Debt	$	336	$	387
Interest on CD Convertible Note and Liquidity Note - CD Financial		-		115
Amortization of prepaid financing costs		22		55
Accretion of discount on Convertible Note - CD Financial		-		3
Other related parties		-		24
Interest on financed lease obligations		13		19
Interest on PNC Equipment Finance LLC Term Note		-		3
Other interest expense		26		24
Interest Expense	$	397	$	630

XML 31 R25.htm IDEA: XBRL DOCUMENT

Note 7 - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2020

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	For the fiscal year
	ended June 30,
	2020			2019

Current - Federal	$	(40	)	$	36
Current - State and local		369			287
Deferred - Federal and state		549			621
Change in valuation allowance		(1,898	)		(590	)
Income tax (benefit) expense, net	$	(1,020	)	$	354

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	For the fiscal year
	ended June 30,
	2020			2019
Statutory federal income tax rate		21.0	%		21.0	%
Statutory state income tax rate		9.5	%		7.0	%
Effective state income tax rate		2.5	%		7.0	%
Change in valuation allowance		(69.0	)%		(20.7	)%
Other temporary differences		2.9	%		2.0	%
Non-deductible expenses		0.1	%		1.0	%
Effective income tax rate		(33.0	)%		17.3	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	June 30,
	2020			2019
Deferred Tax Assets
Net operating loss	$	7,047		$	7,642
Capital loss carryover		258			16
Valuation adjustment on investment in iBio, Inc.		254			512
Depreciation		(204	)		(225	)
Inventory		142			104
Other		34			31
Valuation allowance		(5,648	)		(7,546	)
Total deferred tax asset, net	$	1,883		$	534

XML 32 R26.htm IDEA: XBRL DOCUMENT

Note 10 - Commitments and Contingencies (Tables)

12 Months Ended

Jun. 30, 2020

Lease, Cost [Table Text Block]

	2020						2019
	Related Party - Vitamin Realty		Other Leases		Totals		Related Party - Vitamin Realty		Other Leases		Totals

Operating Lease Costs	$	566	$	104	$	670	$	563	$	112	$	675

Finance Operating Lease Costs:
Amortization of right-of use assets	$	-	$	57	$	57	$	-	$	91	$	91
Interest on operating lease liabilities		-		13		13		-		18		18
Total Finance Lease Costs	$	-	$	70	$	70	$	-	$	109	$	109

Leases and Remaining Commitments [Table Text Block]

	Right-of-use Assets		Current Portion Operating Lease Obligations		Operating Lease Obligations		Remaining Cash Commitment

Vitamin Realty Leases	$	2,788	$	467	$	2,327	$	3,103
Machinery and equipment leases		28		20		8		29
Office equipment leases		8		1		7		9
	$	2,824	$	488	$	2,342	$	3,141

	Right-of-use Assets		Current Portion Operating Lease Obligations		Operating Lease Obligations		Remaining Cash Commitment

Vitamin Realty Leases	$	3,236	$	450	$	2,793	$	3,668
Machinery and equipment leases		26		11		15		27
Office equipment leases		22		9		14		24
	$	3,284	$	470	$	2,822	$	3,719

Supplemental Cash Flow Information, Leases [Table Text Block]

	Related Party - Vitamin Realty		Other Leases		Totals

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases	$	565	$	92	$	657
Operating cash flows from finance lease obligations		-		13		13
Financing cash flows from finance lease obligations		-		194		194

	Related Party - Vitamin Realty		Other Leases		Totals

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases	$	565	$	92	$	657
Operating cash flows from finance lease obligations		-		18		18
Financing cash flows from finance lease obligations		-		233		233

Lessee, Operating Lease and Finance Lease, Liability, Maturity [Table Text Block]

Year ending June 30,	Operating Lease Commitment			Related Party Operating Lease Commitment			Financed Lease Obligations			Total

2021	$	22		$	565		$	77		$	664
2022		11			565			-			576
2023		2			565			-			567
2024		2			565			-			567
2025		1			563			-			564
Thereafter		-			280			-			280
Total minimum lease payments		38			3,103			77			3,218
Imputed interest		(2	)		(309	)		(2	)		(313	)
Total	$	36		$	2,794		$	75		$	2,905

XML 33 R27.htm IDEA: XBRL DOCUMENT

Note 12 - Equity Transactions and Stock-based Compensation (Tables)

12 Months Ended

Jun. 30, 2020

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Risk Free Interest Rate		2.12% to 2.29	%
Volatility		81.1% to 90.3	%
Term	4 1/2 to 10 years
Dividend Rate		0.00	%
Closing Price of Common Stock	$	0.21

Share-based Payment Arrangement, Option, Activity [Table Text Block]

				Weighted
				Average
				Exercise
	Options			Price

Outstanding as of July 1, 2018		2,439,250		$	0.29
Granted		1,883,000			0.21
Exercised		(200,000	)		0.12
Terminated		(17,500	)		0.18
Expired		(343,250	)		0.14
Outstanding as of June 30, 2019		3,761,500			0.16
Granted		-			-
Exercised		(80,000	)		0.09
Terminated		(137,500	)		0.14
Expired		(200,000	)		0.10
Outstanding as of June 30, 2020		3,344,000		$	0.16

Exercisable at June 30, 2019		2,863,800		$	0.14
Exercisable at June 30, 2020		2,875,533		$	0.16

Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]

									Weighted
									Average
							Weighted		Remaining				Weighted
							Average		Contractual				Average
Range of Exercise Price					Outstanding		Exercise Price		Life (years)		Exercisable		Exercise Price

$	0.09	-	$	0.10		1,386,000	$	0.09		4.9		1,386,000	$	0.09
$	0.21	-	$	0.21		1,408,000		0.21		8.9		1,022,867		0.21
$	0.23	-	$	0.25		550,000		0.23		6.4		466,666		0.23
$	0.09	-	$	0.25		3,344,000	$	0.16		7.7		2,875,533	$	0.16

XML 34 R28.htm IDEA: XBRL DOCUMENT

Note 13 - Segment Information (Tables)

12 Months Ended

Jun. 30, 2020

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

		Sales, Net						Segment
		U.S.		International				Gross				Capital		Total
		Customers		Customers		Total		Profit		Depreciation		Expenditures		Assets
Contract Manufacturing	2020	$	42,944	$	8,382	$	51,326	$	6,427	$	310	$	221	$	19,581
	2019		41,817		6,625		48,442		5,780		286		413		17,580

Other Nutraceutical Businesses	2020		1,352		91		1,443		300		2		9		3,363
	2019		1,353		182		1,535		442		2		1		2,210

Total Company	2020		44,296		8,473		52,769		6,727		312		230		22,944
	2019		43,170		6,807		49,977		6,222		288		414		19,790

XML 35 R29.htm IDEA: XBRL DOCUMENT

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended		142 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020
Cost of Goods and Services Sold, Total	$ 46,042	$ 43,755
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		23
Liability for Uncertainty in Income Taxes, Current	$ 0	0	$ 0
Accounts Receivable, Allowance for Credit Loss, Ending Balance	99	84	$ 99
Impairment of Intangible Assets, Finite-lived	$ 0	0
Cost Method Investment, Ownership Percentage	6.00%		6.00%
Asset Impairment Charges, Total			$ 2,562
Unrealized Gain (Loss) on Investments, Total	$ 103	(23)
Realized Investment Gains (Losses), Total	72
Investment Owned, at Fair Value	$ 134	$ 84	$ 134
Building Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years
Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years
Transportation Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
State and Local Jurisdiction [Member] \| New Jersey Division of Taxation [Member]
Income Tax Examination, Year under Examination		2014 2015 2016 2017
Shipping and Handling [Member]
Cost of Goods and Services Sold, Total	$ 287	$ 205

XML 36 R2.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Sales, net	$ 52,769	$ 49,977
Cost of sales	46,042	43,755
Gross profit	6,727	6,222
Selling and administrative expenses	3,468	3,518
Operating income	3,259	2,704
Other income (expense), net:
Interest expense	(397)	(630)
Unrealized gain (loss) on investment in iBio Stock	103	(23)
Realized gains on sale of investment in iBio Stock	72
Other (expense) income, net	51	(9)
Total other expense, net	(171)	(662)
Income before income taxes	3,088	2,042
Income tax (benefit) expense, net	(1,020)	354
Net income	$ 4,108	$ 1,688
Basic net income per common share (in dollars per share)	$ 0.14	$ 0.06
Diluted net income per common share (in dollars per share)	$ 0.13	$ 0.06
Weighted average common shares outstanding - basic (in shares)	29,572,255	28,930,495
Add: Equivalent shares outstanding - stock options (in shares)	1,584,995	656,055
Weighted average common shares outstanding - diluted (in shares)	31,157,250	29,586,550

XML 37 R30.htm IDEA: XBRL DOCUMENT

Note 3 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Raw materials	$ 6,610	$ 4,550
Work-in-process	2,612	2,325
Finished goods	879	1,944
Total	$ 10,101	$ 8,819

XML 38 R31.htm IDEA: XBRL DOCUMENT

Note 4 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Depreciation, Total	$ 312	$ 288
Property, Plant and Equipment, Disposals	$ 40	$ 38

XML 39 R32.htm IDEA: XBRL DOCUMENT

Note 4 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Property and equipment, gross	$ 9,008	$ 8,818
Less: Accumulated depreciation and amortization	(7,312)	(7,040)
Total	1,696	1,778
Land and Building [Member]
Property and equipment, gross	1,250	1,250
Leasehold Improvements [Member]
Property and equipment, gross	1,287	1,282
Machinery and Equipment [Member]
Property and equipment, gross	6,465	6,280
Transportation Equipment [Member]
Property and equipment, gross	$ 6	$ 6

XML 40 R33.htm IDEA: XBRL DOCUMENT

Note 5 - Senior Credit Facility and Other Long Term Debt (Details Textual) - USD ($) $ / shares in Units, $ in Thousands												12 Months Ended
	Apr. 29, 2020	Jul. 29, 2019	May 15, 2019	Feb. 01, 2019	Jul. 31, 2018	Apr. 17, 2018	Feb. 14, 2018	Dec. 22, 2017	Mar. 17, 2017	Dec. 08, 2015	Jul. 29, 2015	Jun. 30, 2020	Jun. 30, 2019	Feb. 19, 2016	Sep. 22, 2014	Jun. 27, 2012
Repayments of Notes Payable												$ 966	$ 3,023
Proceeds from Notes Payable, Total												1,639	2,400
Finance Lease, Liability, Total												75	269
Property, Plant and Equipment, Disposals												40	38
Proceeds from Sale of Property, Plant, and Equipment, Total												$ 3
CD Financial LLC [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares)					8,230,769
Debt Instrument, Convertible, Conversion Price (in dollars per share)					$ 0.65
Marlin Equipment Finance [Member]
Finance Lease, Liability, Total						$ 15	$ 38
First American Equipment Finance [Member]
Finance Lease, Liability, Total				$ 233				$ 143	$ 158
Property, Plant and Equipment, Disposals				233
Proceeds from Sale of Property, Plant, and Equipment, Total				233
Wells Fargo [Member]
Finance Lease, Liability, Total										$ 129
CD Financial LLC [Member]
Convertible Notes Payable, Total																$ 5,350
Debt Instrument, Convertible, Conversion Price (in dollars per share)																$ 0.65
Vitamin Realty LLC [Member]
Repayments of Related Party Debt			$ 689
Capital Lease [Member] \| Marlin Equipment Finance [Member]
Debt Instrument, Periodic Payment, Total						$ 1	$ 2
Debt Instrument, Interest Rate, Stated Percentage						9.38%	9.26%
Capital Lease [Member] \| First American Equipment Finance [Member]
Debt Instrument, Periodic Payment, Total				$ 10				$ 6	$ 7
Debt Instrument, Interest Rate, Stated Percentage				7.28%				6.56%	3.86%
Capital Lease [Member] \| Wells Fargo [Member]
Debt Instrument, Periodic Payment, Total										$ 2
Debt Instrument, Interest Rate, Stated Percentage										4.01%
Convertible Line of Credit Note [Member]
Line of Credit Facility, Maximum Borrowing Capacity															$ 350
Long-term Line of Credit, Total											$ 350
Debt Instrument, Periodic Payment, Total		$ 8
Debt Instrument Convertible Aggregate Amount Advanced Trigger															$ 350
Debt Instrument, Term (Year)											4 years
Convertible Line of Credit Note [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate											3.25%
Amended Loan Agreement [Member]
Senior Notes, Total			$ 11,585
Debt Instrument, Debt Default, Interest Rate Basic Spread			2.00%
Line of Credit Facility Covenant Prepayment Provisions Percentage of Excess Cash flow												25.00%
Amended Loan Agreement [Member] \| Term Loan [Member]
Debt Instrument, Face Amount			$ 3,585
Loans Payable, Noncurrent, Total												$ 0	$ 3,455
Number of Consecutive Monthly Installments			84
Number of Consecutive Monthly Installments, Fixed Amount			83
Debt Instrument, Periodic Payment, Total			$ 43
Line of Credit Facility Covenant Prepayment Provisions Percentage of Excess Cash flow			25.00%
Repayments of Notes Payable												$ 101
Amended Loan Agreement [Member] \| Term Loan [Member] \| Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate			3.00%
Amended Loan Agreement [Member] \| Term Loan [Member] \| Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate												3.00%	3.00%
Amended Loan Agreement [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 8,000
Long-term Line of Credit, Total												$ 0	$ 4,250
Line of Credit Facility Covenant Maximum Aggregate Revolving Advance			$ 8,000
Line of Credit Facility Covenant Aggregate Revolving Advance Receivables Advance Rate			85.00%
Line of Credit Facility Covenant Aggregate Revolving Advance Inventory Advance Rate			75.00%
Line of Credit Facility, Covenan,t Aggregate Revolving Advance, Appraised Liquidation Value, Inventory Advance Rate			85.00%
Amended Loan Agreement [Member] \| Revolving Credit Facility [Member] \| Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate			2.50%
Amended Loan Agreement [Member] \| Revolving Credit Facility [Member] \| Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate												2.50%	2.50%
Promissory Note [Member] \| CD Financial LLC [Member]
Debt Instrument, Face Amount																$ 1,714
Repayments of Notes Payable			$ 1,718
Paycheck Protection Program CARES Act [Member]
Proceeds from Notes Payable, Total	$ 1,639
E. Gerald Kay [Member] \| Vitamin Realty LLC [Member]
Debt Instrument, Interest Rate, Stated Percentage														4.00%
Term Note [Member] \| Convertible Line of Credit Note [Member]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate											4.57%

XML 41 R34.htm IDEA: XBRL DOCUMENT

Note 5 - Senior Credit Facility and Other Long Term Debt - Debt Outstanding (Details) - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Total, Capital Lease Obligation

$ 75

$ 269

Total outstanding debt

8,344

9,653

Prepaid financing costs

(39)

(50)

Current portion of long term debt, net

(2,823)

(1,047)

Long term debt, net

$ 1,436

2,722

Capital Lease [Member]

Convertible Debt [Member]

Dec. 01, 2020

Current portion of long term debt, net

$ (2,823)

(1,047)

Minimum [Member] | Capital Lease [Member]

Maximum [Member] | Capital Lease [Member]

4.01%

Paycheck Protection Program CARES Act [Member]

7.28%

$ 1,639

1.00%

Revolving Advances [Member]

Apr. 30, 2022

$ 4,046

5,834

^[1]

Installment Note with PNC Bank [Member]

May 15, 2024

Less: Revolving Advances

$ (4,046)

(5,834)

$ 2,584

3,542

^[1]

PNC Equipment Finance LLC [Member]

May 15, 2024

$ 8

4.57%

Jul. 29, 2019

[1]	See table below

XML 42 R35.htm IDEA: XBRL DOCUMENT

Note 5 - Senior Credit Facility and Other Long Term Debt - Interest Rates (Details)	Jun. 30, 2020	Jun. 30, 2019
Revolving Credit Facility [Member] \| Base Rate [Member]
Interest rate	3.25%	5.50%
Revolving Credit Facility [Member] \| Eurodollar [Member]
Interest rate		4.881%
Term Loan [Member] \| Base Rate [Member]
Interest rate	3.50%	5.75%
Term Loan [Member] \| Eurodollar [Member]
Interest rate
Term Loan [Member] \| Eurodollar [Member] \| Minimum [Member]
Interest rate		5.381%
Term Loan [Member] \| Eurodollar [Member] \| Maximum [Member]
Interest rate		5.3838%

XML 43 R36.htm IDEA: XBRL DOCUMENT

Note 6 - Interest Expense (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Interest Payable	$ 19	$ 13
Debt Related to Interest Expense [Member]
Debt, Weighted Average Interest Rate	4.71%	5.35%

XML 44 R37.htm IDEA: XBRL DOCUMENT

Note 6 - Interest Expense - Interest Expense Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Amortization of prepaid financing costs	$ 22	$ 55
Accretion of discount on Convertible Note - CD Financial		3
Interest on financed lease obligations	13	19
Interest Expense	397	630
Other interest expense	26	24
CD Financial LLC [Member]
Interest expense related party		115
Other Related Party [Member]
Interest expense related party		24
Senior Notes [Member]
Interest on Senior Debt	336	387
Term Note [Member] \| PNC Equipment Finance LLC [Member]
Interest Expense		$ 3

XML 45 R38.htm IDEA: XBRL DOCUMENT

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Tax Expense (Benefit), Total	$ (1,020)	$ 354
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(1,898)	(590)
Liability for Uncertainty in Income Taxes, Current	0	0
Income Tax Examination, Penalties and Interest Accrued, Total	0	0
Deferred Tax Assets Related to Net Operating Loss [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(1,898)	$ (455)
Capital Loss Carryforward [Member]
Tax Credit Carryforward, Amount	1,229
Capital Loss Carryforward [Member] \| Tax Year 2020 [Member]
Tax Credit Carryforward, Amount	77
Capital Loss Carryforward [Member] \| Tax Year 2025 [Member]
Tax Credit Carryforward, Amount	1,152
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total	30,019
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total	$ 7,845
State and Local Jurisdiction [Member] \| New Jersey Division of Taxation [Member]
Income Tax Examination, Year under Examination		2014 2015 2016 2017

XML 46 R39.htm IDEA: XBRL DOCUMENT

Note 7 - Income Taxes - Components of the Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Current - Federal	$ (40)	$ 36
Current - State and local	369	287
Deferred - Federal and state	549	621
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(1,898)	(590)
Income Tax Expense (Benefit), Total	$ (1,020)	$ 354

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

XML 47 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Current Assets:
Cash	$ 402	$ 475
Accounts receivable, net	5,507	4,439
Inventories	10,101	8,819
Other current assets	451	346
Total current assets	16,461	14,079
Property and equipment, net	1,696	1,778
Operating lease right-of-use assets (includes $2,788 and $3,236 with a related party)	2,824	3,284
Deferred tax assets, net	1,883	534
Security deposits and other assets	80	115
Total Assets	22,944	19,790
Current Liabilities:
Advances under revolving credit facility	4,046	5,834
Accounts payable (includes $62 and $67 due to a related party)	4,358	3,855
Accrued expenses and other current liabilities	1,384	1,147
Current portion of long term debt, net	2,823	1,047
Current portion of operating lease liabilities (includes $467 and $450 due to a related party)	488	470
Total current liabilities	13,099	12,353
Long term debt, net	1,436	2,722
Operating lease liabilities (includes $2,327 and $2,793 due to a related party)	2,342	2,822
Total Liabilities	16,877	17,897
Commitments and Contingencies
Stockholders' Equity
Common Stock, $0.002 par value; 50,000,000 shares authorized; 29,680,843 and 29,600,843 shares issued; and 29,645,943 and 29,565,943 shares outstanding	59	59
Additional paid-in-capital	50,263	50,197
Accumulated deficit	(44,156)	(48,264)
Less: Treasury stock, at cost, 34,900 shares	(99)	(99)
Total Stockholders' Equity	6,067	1,893
Total Liabilities and Stockholders' Equity	$ 22,944	$ 19,790

XML 48 R40.htm IDEA: XBRL DOCUMENT

Note 7 - Income Taxes - Reconciliation of the Statutory Tax Rate to the Effective Tax Rate (Details)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statutory federal income tax rate	21.00%	21.00%
Statutory state income tax rate	9.50%	7.00%
Effective state income tax rate	2.50%	7.00%
Change in valuation allowance	(69.00%)	(20.70%)
Other temporary differences	2.90%	2.00%
Non-deductible expenses	0.10%	1.00%
Effective income tax rate	(33.00%)	17.30%

XML 49 R41.htm IDEA: XBRL DOCUMENT

Note 7 - Income Taxes - Significant Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Net operating loss	$ 7,047	$ 7,642
Capital loss carryover	258	16
Valuation adjustment on investment in iBio, Inc.	254	512
Depreciation	(204)	(225)
Inventory	142	104
Other	34	31
Valuation allowance	(5,648)	(7,546)
Total deferred tax asset, net	$ 1,883	$ 534

XML 50 R42.htm IDEA: XBRL DOCUMENT

Note 8 - Profit-sharing Plan (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 68	$ 69

XML 51 R43.htm IDEA: XBRL DOCUMENT

Note 9 - Significant Risks and Uncertainties (Details Textual) $ in Thousands	12 Months Ended
	Jun. 30, 2020 USD ($)	Jun. 30, 2019
Cash, FDIC Insured Amount	$ 250
Cash, Uninsured Amount	$ 70
Revenue Benchmark [Member] \| Customer Concentration Risk [Member]
Number of Major Customers	2	2
Revenue Benchmark [Member] \| Customer Concentration Risk [Member] \| Contract Manufacturing [Member]
Number of Major Customers	2	2
Revenue Benchmark [Member] \| Customer Concentration Risk [Member] \| Two Customers [Member]
Concentration Risk, Percentage	92.00%	91.00%
Revenue Benchmark [Member] \| Customer Concentration Risk [Member] \| Two Customers [Member] \| Contract Manufacturing [Member]
Concentration Risk, Percentage	69.00%	26.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Number of Major Customers	2	2
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Two Customers [Member]
Concentration Risk, Percentage	92.00%	88.00%
Revenue, Segment Benchmark [Member] \| Customer Concentration Risk [Member] \| Major Customer 1 [Member] \| Branded Nutraceutical [Member]
Concentration Risk, Percentage	10.00%	13.00%
Number of Employees, Geographic Area [Member] \| Unionized Employees Concentration Risk [Member]
Concentration Risk, Percentage	72.00%

XML 52 R44.htm IDEA: XBRL DOCUMENT

Note 10 - Commitments and Contingencies (Details Textual) $ in Thousands			12 Months Ended
	May 19, 2014 USD ($) ft²	Jan. 05, 2012 USD ($) ft²	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jan. 04, 2012 ft²
Rental of Office Equipment [Member]
Lessee, Operating Lease, Term of Contract (Year)			5 years
Lessee, Operating Lease, Liability, Annual Commitment			$ 2
Unrelated Party [Member]
Operating Lease, Expense			1,040	$ 1,013
Operating Lease, Liability, Total			$ 36
Lessee, Operating Lease, Discount Rate			3.75%	3.76%
Operating Lease, Weighted Average Remaining Lease Term (Year)			5 years 146 days	6 years 146 days
First American Equipment Finance [Member]
Sale Leaseback Transaction, Net Book Value, Total				$ 233
Manhattan Drug Company [Member]
Area of Real Estate Property (Square Foot) \| ft²		76,161			74,898
Payments for Rent		$ 533
AgroLabs [Member]
Area of Real Estate Property (Square Foot) \| ft²	2,700
Payments for Rent	$ 27
Chairman, Chief Executive Office and Major Stockholder [Member]
Percent of Ownership for Warehouse and Office Facilities Leased			100.00%
Vitamin Realty LLC [Member]
Operating Lease, Expense			$ 862	843
Due to Related Parties, Total			62	67
Operating Lease, Liability, Total			$ 2,794	$ 3,243
Vitamin Realty LLC [Member] \| Operating Lease Renewed for Office Space [Member]
Lessee, Operating Lease, Term of Contract (Year)			1 year
Lessee, Operating Lease, Liability, Annual Commitment			$ 25
Minimum [Member]
Lessee, Lease, Term of Contract (Year)			1 year
Maximum [Member]
Lessee, Lease, Term of Contract (Year)			8 years

XML 53 R45.htm IDEA: XBRL DOCUMENT

Note 10 - Commitments and Contingencies - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating Lease Costs	$ 670	$ 675
Amortization of right-of use assets	57	91
Interest on operating lease liabilities	13	18
Total Finance Lease Costs	70	109
Unrelated Party [Member]
Operating Lease Costs	104	112
Amortization of right-of use assets	57	91
Interest on operating lease liabilities	13	18
Total Finance Lease Costs	70	109
Vitamin Realty LLC [Member]
Operating Lease Costs	566	563
Amortization of right-of use assets
Interest on operating lease liabilities
Total Finance Lease Costs

XML 54 R46.htm IDEA: XBRL DOCUMENT

Note 10 - Commitments and Contingencies - Leases and Commitments (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Operating lease right-of-use assets	$ 2,824	$ 3,284
Current portion of operating lease liabilities	488	470
Operating lease liabilities	2,342	2,822
Remaining cash commitment	3,141	3,719
Machinery and Equipment Leases [Member]
Operating lease right-of-use assets	28	26
Current portion of operating lease liabilities	20	11
Operating lease liabilities	8	15
Remaining cash commitment	29	27
Office Equipment Leases [Member]
Operating lease right-of-use assets	8	22
Current portion of operating lease liabilities	1	9
Operating lease liabilities	7	14
Remaining cash commitment	9	24
Vitamin Realty LLC [Member]
Operating lease right-of-use assets	2,788	3,236
Current portion of operating lease liabilities	467	450
Operating lease liabilities	2,327	2,793
Remaining cash commitment	$ 3,103	$ 3,668

XML 55 R47.htm IDEA: XBRL DOCUMENT

Note 10 - Commitments and Contingencies - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating cash flows from operating leases	$ 657	$ 657
Operating cash flows from finance lease obligations	13	18
Financing cash flows from finance lease obligations	194	233
Unrelated Party [Member]
Operating cash flows from operating leases	92	92
Operating cash flows from finance lease obligations	13	18
Financing cash flows from finance lease obligations	194	233
Vitamin Realty LLC [Member]
Operating cash flows from operating leases	565	565
Operating cash flows from finance lease obligations
Financing cash flows from finance lease obligations

XML 56 R48.htm IDEA: XBRL DOCUMENT

Note 10 - Commitments and Contingencies - Minimum Rental Commitment for Long-term Non-cancelable Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
2021, Capital Lease Obligation	$ 77
2021, Total	664
2022, Capital Lease Obligation
2022, Total	576
2023, Capital Lease Obligation
2023, Total	567
2024, Capital Lease Obligation
2024, Total	567
2025, Capital Lease Obligation
2025, Total	564
Thereafter, Capital Lease Obligation
Thereafter, Total	280
Total minimum lease payments, Capital Lease Obligation	77
Total minimum lease payments, Total	3,218
Imputed interest, Capital Lease Obligation	(2)
Imputed interest, Total	(313)
Total, Capital Lease Obligation	75	$ 269
Total	2,905
Vitamin Realty LLC [Member]
2021, Operating Lease	565
2022, Operating Lease	565
2023, Operating Lease	565
2024, Operating Lease	565
2025, Operating Lease	563
Thereafter, Operating Lease	280
Total minimum lease payments, Operating Lease	3,103
Imputed interest, Operating Lease	(309)
Total, Operating Lease	2,794	$ 3,243
Unrelated Party [Member]
2021, Operating Lease	22
2022, Operating Lease	11
2023, Operating Lease	2
2024, Operating Lease	2
2025, Operating Lease	1
Thereafter, Operating Lease
Total minimum lease payments, Operating Lease	38
Imputed interest, Operating Lease	(2)
Total, Operating Lease	$ 36

XML 57 R49.htm IDEA: XBRL DOCUMENT

Note 12 - Equity Transactions and Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)		8,799,389
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)			1,883,000
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share)		$ 0.09
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share)		$ 0.25
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		3 years
Share-based Payment Arrangement, Expense		$ 59	$ 144
Incremental Common Shares Attributable to Conversion of Debt Securities, Total (in shares)			8,230,769
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value		$ 846	$ 256
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	1,883,000
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share)	$ 0.21
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share)	$ 0.23
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)		0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		0	2,020,500
Share-based Payment Arrangement, Option [Member] \| Director [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 65
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		2 years
Share-based Payment Arrangement, Option [Member] \| Director [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	90 days
Share-based Payment Arrangement, Option [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		10 years
Share-based Payment Arrangement, Option [Member] \| Maximum [Member] \| Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years
Share-based Payment Arrangement, Option [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		5 years
Share-based Payment Arrangement, Option [Member] \| Minimum [Member] \| Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	5 years
Stock Option 2001 Plan [Member]
Share Based Compensation Arrangement by Share Based Payment Award Number of Shares Originally Authorized (in shares)		7,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)		6,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		13,000,000
Stock Option 1997 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		5,000,000

XML 58 R4.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Operating lease right-of-use assets	$ 2,824	$ 3,284
Current portion of operating lease liabilities	488	470
Operating lease liabilities	$ 2,342	$ 2,822
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)	29,680,843	29,600,843
Common stock, shares outstanding (in shares)	29,645,943	29,565,943
Treasury stock, shares (in shares)	34,900	34,900
Vitamin Realty LLC [Member]
Operating lease right-of-use assets	$ 2,788	$ 3,236
Accounts payable, related parties	62	67
Current portion of operating lease liabilities	467	450
Operating lease liabilities	$ 2,327	$ 2,793

XML 59 R50.htm IDEA: XBRL DOCUMENT

Note 12 - Equity Transactions and Stock-based Compensation - Fair Value of Stock Option Using Black-Scholes Option Pricing Model (Details)	12 Months Ended
	Jun. 30, 2020 $ / shares
Dividend Rate	0.00%
Closing Price of Common Stock (in dollars per share)	$ 0.21
Minimum [Member]
Risk Free Interest Rate	2.12%
Volatility	81.10%
Term (Year)	4 years 182 days
Maximum [Member]
Risk Free Interest Rate	2.29%
Volatility	90.30%
Term (Year)	10 years

XML 60 R51.htm IDEA: XBRL DOCUMENT

Note 12 - Equity Transactions and Stock-based Compensation - Summary of the Company's Stock Option Activity, and Related Information (Details) - $ / shares	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Balance (in shares)	3,761,500	2,439,250
Balance (in dollars per share)	$ 0.16	$ 0.29
Granted (in shares)		1,883,000
Granted (in dollars per share)		$ 0.21
Exercised (in shares)	(80,000)	(200,000)
Exercised (in dollars per share)	$ 0.09	$ 0.12
Terminated (in shares)	(137,500)	(17,500)
Terminated (in dollars per share)	$ 0.14	$ 0.18
Expired (in shares)	(200,000)	(343,250)
Expired (in dollars per share)	$ 0.10	$ 0.14
Balance (in shares)	3,344,000	3,761,500
Balance (in dollars per share)	$ 0.16	$ 0.16
Exercisable (in shares)	2,875,533	2,863,800
Exercisable (in dollars per share)	$ 0.16	$ 0.14

XML 61 R52.htm IDEA: XBRL DOCUMENT

Note 12 - Equity Transactions and Stock-based Compensation - Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range (Details) - $ / shares	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Range of Exercise Price, Lower Limit (in dollars per share)	$ 0.09
Range of Exercise Price, Upper Limit (in dollars per share)	$ 0.25
Outstanding (in shares)	3,344,000	3,761,500	2,439,250
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 0.16	$ 0.16	$ 0.29
Weighted Average Remaining Contractual Life (Year)	7 years 255 days
Exercisable (in shares)	2,875,533	2,863,800
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 0.16	$ 0.14
Range One [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	0.09
Range of Exercise Price, Upper Limit (in dollars per share)	$ 0.10
Outstanding (in shares)	1,386,000
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 0.09
Weighted Average Remaining Contractual Life (Year)	4 years 328 days
Exercisable (in shares)	1,386,000
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 0.09
Range Two [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	0.21
Range of Exercise Price, Upper Limit (in dollars per share)	$ 0.21
Outstanding (in shares)	1,408,000
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 0.21
Weighted Average Remaining Contractual Life (Year)	8 years 328 days
Exercisable (in shares)	1,022,867
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 0.21
Range Three [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	0.23
Range of Exercise Price, Upper Limit (in dollars per share)	$ 0.25
Outstanding (in shares)	550,000
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 0.23
Weighted Average Remaining Contractual Life (Year)	6 years 146 days
Exercisable (in shares)	466,666
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 0.23

XML 62 R53.htm IDEA: XBRL DOCUMENT

Note 13 - Segment Information (Details Textual) $ in Thousands	12 Months Ended
	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
Number of Reportable Segments	2
Revenue from Contract with Customer, Including Assessed Tax	$ 52,769	$ 49,977
Europe and Canada [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 8,473	$ 6,807

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

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XML 63 R54.htm IDEA: XBRL DOCUMENT

Note 13 - Segment Information - Operations by Business Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Sales, net	$ 52,769	$ 49,977
Gross Profit	6,727	6,222
Depreciation	312	288
Capital Expenditures	230	414
Total Assets	22,944	19,790
Contract Manufacturing [Member]
Sales, net	51,326	48,442
Gross Profit	6,427	5,780
Depreciation	310	286
Capital Expenditures	221	413
Total Assets	19,581	17,580
Other Nutraceutical Business [Member]
Sales, net	1,443	1,535
Gross Profit	300	442
Depreciation	2	2
Capital Expenditures	9	1
Total Assets	3,363	2,210
UNITED STATES
Sales, net	44,296	43,170
UNITED STATES \| Contract Manufacturing [Member]
Sales, net	42,944	41,817
UNITED STATES \| Other Nutraceutical Business [Member]
Sales, net	1,352	1,353
Non-US [Member]
Sales, net	8,473	6,807
Non-US [Member] \| Contract Manufacturing [Member]
Sales, net	8,382	6,625
Non-US [Member] \| Other Nutraceutical Business [Member]
Sales, net	$ 91	$ 182

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance, July 1, 2018 (in shares) at Jun. 30, 2018	21,170,074			34,900
Balance, July 1, 2018 at Jun. 30, 2018	$ 42	$ 44,773	$ (49,952)	$ (99)	$ (5,236)
Compensation expense for employee stock options		144			144
Shares issued upon conversion CD Financial, LLC Convertible Note, net (in shares)	8,230,769
Shares issued upon conversion CD Financial, LLC Convertible Note, net	$ 17	5,256			$ 5,273
Shares issued upon exercise of stock options (in shares)	200,000				200,000
Shares issued upon exercise of stock options		24			$ 24
Net income			1,688		1,688
Balance (in shares) at Jun. 30, 2019	29,600,843			34,900
Balance at Jun. 30, 2019	$ 59	50,197	(48,264)	$ (99)	1,893
Compensation expense for employee stock options		59			$ 59
Shares issued upon exercise of stock options (in shares)	80,000				80,000
Shares issued upon exercise of stock options		7			$ 7
Net income			4,108		4,108
Balance (in shares) at Jun. 30, 2020	29,680,843			34,900
Balance at Jun. 30, 2020	$ 59	$ 50,263	$ (44,156)	$ (99)	$ 6,067

XML 65 R6.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 4,108	$ 1,688
Adjustments to reconcile net income to net cash from operating activities:
Amortization of operating lease right-of-use assets	460	453
Depreciation and amortization	312	321
Deferred income taxes	(1,349)	33
Accretion of financing instruments, amortization of prepaid financing costs and other	22	49
Compensation expense on employee stock options	59	144
Unrealized (gain) loss on investment in iBio Stock	(103)	23
Realized gain on sale of iBio Stock	(72)
Non cash loss on AgroSport LLC investment		97
Allowance for doubtful accounts	15	(50)
Gain on disposal of fixed assets	(4)
Changes in operating assets and liabilities:
Accounts receivable	(1,082)	(593)
Inventories	(1,282)	(1,077)
Prepaid expenses and other assets	(7)	(73)
Operating lease obligations	(462)	(454)
Accounts payable	487	(329)
Accrued expenses and other current liabilities	237	96
Net cash provided by operating activities	1,339	328
Cash flows from investing activities:
Purchase of property and equipment	(214)	(414)
Proceeds from sale of iBio Stock	101
Proceeds from sale of fixed assets	3
Investment in AgroSport LLC		(8)
Net cash used in investing activities	(110)	(422)
Cash flows from financing activities:
Advances under revolving credit facility	47,213	48,937
Repayments of advances under revolving credit facility	(49,001)	(47,997)
Proceeds from issuance of note payable	1,639	2,400
Proceeds from sale/lease back		233
Proceeds from exercises of stock options	7	24
Repayments under term notes payable	(966)	(3,023)
Repayments under financed lease obligations	(194)	(233)
Net cash (used in) provided by financing activities	(1,302)	341
Net (decrease) increase in cash	(73)	247
Cash at beginning of fiscal year	475	228
Cash at end of fiscal year	402	475
Supplemental disclosures of cash flow information:
Interest	367	629
Income taxes	384	264
Supplemental disclosures of non-cash transactions:
Accretion of discount on Convertible Note Payable		3
Amount owed on purchase of fixed assets	$ 16

XML 66 R7.htm IDEA: XBRL DOCUMENT

Note 1 - Business	12 Months Ended
Note 1 - Business	Jun. 30, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. Business Integrated BioPharma, Inc., a Delaware corporation (together with its subsidiaries, 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 Manhattan Drug Company, Inc. (“MDC”), which manufactures vitamins and nutritional supplements for sale to distributors, multilevel marketers and specialized health-care providers and (b) Other Nutraceutical Businesses which includes the operations of AgroLabs, Inc. (“AgroLabs”), which distributes healthful nutritional products for sale through major mass market, grocery and drug and vitamin retailers, under the following brands: Peaceful Sleep, Wheatgrass and other products which are being introduced into the market (these are referred to as our branded products), (ii) The Vitamin Factory (the “Vitamin Factory”), which sells private label MDC products, as well as our AgroLabs products, through the Internet, (iii) IHT Health Products, Inc. (“IHT”) a distributor of fine natural botanicals, including multi minerals produced under a license agreement, (iv) MDC Warehousing and Distribution, Inc., a service provider for warehousing and fulfillment services and (v) Chem International, Inc. (“Chem”), a distributor of certain raw materials for DSM Nutritional Products LLC.

XML 67 R8.htm IDEA: XBRL DOCUMENT

Note 2 - Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2020

Significant Accounting Policies [Text Block]

Note

Summary of Significant Accounting Policies

Principles of Consolidation.

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany transactions and accounts have been eliminated in consolidation.

Reclassifications.

Certain prior year amounts have been reclassified to conform to the current year presentation.

Use of Estimates.

not

readily apparent from other sources. The most significant estimates include:

● sales returns and allowances;

● allowance for doubtful accounts;

● inventory valuation;

● valuation and recoverability of long-lived assets;

● income taxes and valuation allowance on deferred income taxes, and;

● accruals for, and the probability of, the outcome of any current litigation.

Revenue Recognition.

606,

the Company performs the following

five

steps:

●

identification of the promised goods or services in the contract;

●

determination of whether the promised goods or serves are performance obligations including whether they are distinct in the context of the contract;

●

measurement of the transaction price, including the constraint on variable consideration;

●

allocation of the transaction price to the performance obligations based on estimated selling prices; and

●

606.

Shipping and Handling Costs.

Shipping and handling costs were approximately

$287

and

$205

for the fiscal years ended

June 30, 2020

and

2019,

respectively, and are included in cost of sales in the accompanying Consolidated Statements of Income.

Stock-Based Compensation.

The Company has

two

three

years.

Income Taxes

not

that all or a portion of a deferred tax asset will

not

be realized.

The Company files a U.S. federal income tax return as well as returns for various states. The Company's income taxes have

not

2014

through

2017

and resulted in an adjustment of approximately

$23

for all periods reviewed and included in the income tax provision in the fiscal year ended

June 30, 2019.

liabilities recorded for uncertain tax positions at

June 30, 2020

2019.

Leases.

not

may

Earnings Per Share.

Fair Value of Financial Instruments.

not

necessarily representative of the amount that could be realized or settled, nor does the fair value amount consider the tax consequences of realization or settlement.

Accounts Receivable and Allowance for Doubtful Accounts.

concentration of credit risk with any single customer whose failure or nonperformance would materially affect the Company's results other than as discussed in Note

June 30, 2020

and

2019

was

$99

and

$84,

respectively. Accounts receivable are charged off against the allowance after management determines that the potential for recovery is remote.

Inventories.

Inventories are stated at the lower of cost or net realizable value. Cost is determined using the

first

-in,

first

-out method. Allowances for obsolete and overstock inventories are estimated based on “expiration dating” of inventory and projection of sales.

Property and Equipment.

Property and equipment are recorded at cost and are depreciated using the straight line method over the following estimated useful lives:

Building	15 Years
Leasehold Improvements	Shorter of estimated useful life or term of lease
Machinery and Equipment	7 Years
Transportation Equipment	5 Years

Impairment of Long-Lived Assets.

Long-lived assets are reviewed for impairment when circumstances indicate that the carrying value of an asset

may

not

impairment losses were identified or recorded in the fiscal years ended

June 30, 2020

and

2019

on the Company's other intangible assets.

Investment in iBio, Inc.

Prior to the adoption of ASU

2016

July 1, 2019,

the Company accounted for its investment in iBio, Inc. (“iBio”) common stock on the cost basis as it retained approximately

of its interest in iBio (the “iBio Stock”) at the time of the spin-off of this subsidiary in

August 2008.

$2,562.

During the year ended

June 30, 2020,

the Company recognized an unrealized gain of approximately

$103

and realized gains of

$72.

The market value of the iBio Stock as of

June 30, 2020

and

2019,

was approximately

$134

and

$84,

respectively, based on the trade price at the close of trading on

June 30, 2020

and

2019,

respectively. The investment in iBio is included in other current assets in the consolidated balance sheets as of

June 30, 2020

and

2019

at the respective market values.

Accounting Pronouncements

Recently Adopted

October, 2016,

the FASB issued ASU

No.

2016

16,

“Income Taxes (Topic

740

July 1, 2019

not

have a material impact on the Company's Consolidated Financial Statements.

July 2017,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)

2017

11,

"Earnings Per Share (Topic

260

) Distinguishing Liabilities from Equity (Topic

480

) Derivatives and Hedging (Topic

815

)," which addresses the complexity of accounting for certain financial instruments with down round features. The amendments are effective for the Company on

July 1, 2019

for the fiscal year ended

June 30, 2020,

and the interim periods within it. Early adoption was available. The Company is

not

expecting a material impact on the Company's Consolidated Financial Statements.

Accounting Pronouncements

Not

Yet Adopted

August 28, 2018,

the Financial Accounting Standards Board (“FASB”) issued ASU

2018

13,

Fair Value Measurement: Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (Topic

820

), which changes the fair value measurement disclosure requirements of ASC

820.

This ASU removes certain disclosure requirements regarding the amounts and reasons for transfers between Level

and Level

fair value measurements and the range and weighted average of unobservable inputs used in Level

fair value measurements. ASU

2018

is effective for the fiscal year beginning

July 1, 2020,

including interim periods therein. Early adoption is permitted for any eliminated or modified disclosures upon issuance of ASU

2018

13.

The adoption of this standard is

not

expected to have a material impact on the Company's Consolidated Financial Statements.

June 2016,

the FASB issued ASU

2016

July 1, 2023,

including interim periods within that year. The adoption of this standard is

not

expected to have a material impact on the Company's Consolidated Financial Statements.

May 2019,

the FASB issued ASU

2019

“Financial Instruments-Credit Losses (Topic

326

)” which provides transition relief for companies adopting ASU

2016

13.

This guidance amends ASU

2016

to allow companies to elect, upon adoption of ASU

2016

13,

July 1,

2023,

including interim periods within that year. The adoption of this standard is

not

expected to have a material impact on the Company's Consolidated Financial Statements.

March 2020,

the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”)

No.

2020

04,

“Reference Rate Reform (Topic

848

not

expected to have a material impact on the Company's Consolidated Financial Statements.

XML 68 R9.htm IDEA: XBRL DOCUMENT

Note 3 - Inventories

12 Months Ended

Jun. 30, 2020