XML 50 R34.htm IDEA: XBRL DOCUMENT v3.24.3
INCOME TAXES (Tables)
12 Months Ended
Jun. 30, 2024
INCOME TAXES  
Components of deferred tax assets and liabilities

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Deferred tax assets:

 

 

 

 

 

 

Inventory reserves

 

$55

 

 

$65

 

Allowance for doubtful accounts

 

 

3

 

 

 

5

 

Stock-based compensation

 

 

23

 

 

 

41

 

Net operating loss carry-forwards

 

 

1,354

 

 

 

1,041

 

Total gross deferred tax assets

 

 

1,435

 

 

 

1,152

 

Valuation allowance

 

 

(1,435)

 

 

(1,059)

Book to tax depreciation difference - Liability

 

 

(119)

 

 

(83)

Net deferred tax asset (liability)

 

$(119)

 

$10

 

Income tax provision

 

 

2024

 

 

2023

 

Income taxes at federal rate

 

$(50)

 

$250

 

State income taxes, net of federal income taxes

 

 

(11)

 

 

56

 

Permanent differences

 

 

16

 

 

 

1

 

Other adjustments

 

 

(169)

 

 

-

 

Valuation allowance

 

 

376

 

 

 

(317)

 

 

 

 

 

 

 

 

 

Income tax provision

 

$162

 

 

$(10)

 

 

2024

 

 

2023

 

Current provision

 

$33

 

 

$-

 

Deferred provision

 

 

129

 

 

 

(10)

 

 

 

 

 

 

 

 

 

Income tax provision

 

$162

 

 

$(10)