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Significant Accounting Policies (Policies)
6 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
New Accounting Pronouncements, Policy [Policy Text Block]
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form
10
-Q and Rule
10
-
01
of Regulation S-X. All material adjustments considered necessary for a fair presentation have been included. Certain information and footnote disclosure normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission (“SEC”). Except as disclosed herein, there has been no material change in the information disclosed in the notes to the
condensed consolidated financial statements included in the Company’s Annual Report on Form
10
-K that was filed with the SEC on
September
13,
2016.
 
The unaudited interim
condensed consolidated financial statements include the accounts of the Company and all of its wholly owned subsidiaries. All inter-company transactions and balances are eliminated in consolidation.
 
Operating results for the
three
and
six
months ended
December
31,
2016
are not necessarily indicative of those in future quarters or the annual results that
may
be expected for the Company’s fiscal year ending
June
30,
2017.
For a more complete discussion of the Company’s significant accounting policies and other information, this report should be read in conjunction with the consolidated financial statements for the fiscal year ended
June
30,
2016
included in the Company’s Annual Report on Form
10
-K.
 
The Company
’s significant accounting policies have not changed since
June
30,
2016.
Basis of Accounting, Policy [Policy Text Block]
Recent Accounting Standards
 
In
May
2014,
the Financial Accounting Standards Board ("FASB") issued authoritative accounting guidance related to revenue from contracts with customers. This guidance is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. This guidance is effective for annual reporting periods b
eginning after
December
15,
2017.
Accordingly, the Company will adopt this guidance on
July
1,
2018.
Companies
may
use either a full retrospective or a modified retrospective approach to adopt this guidance. The Company is evaluating which transition approach to use and its impact, if any, on its consolidated financial statements.
 
In
August
2014,
the FASB issued authoritative accounting guidance related to management
’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. This guidance is effective for annual reporting ending after
December
15,
2016,
and for annual periods and interim periods thereafter, with early application permitted. Accordingly, the standard is effective for the Company on
June
30,
2017.
The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements.
 
In
January
2016,
the FASB issued guidance related to financial instruments - overall recognition and measurement of financial assets and financial liabilities. The guidance enhances the reporting model for financial instruments, which includes amendments to address aspects of recognition, measurement, presentation and disclosure. The update to the standard is effective for public companies for interim and annual periods beginning after
December
15,
2017.
Accordingly, the standard is effective for the Company on
July
1,
2018.
The Company is currently evaluating the impact that the standard will have on the consolidated financial statements.
 
In
February
2016,
the FASB issued new guidance on leases. This guidance replaces the prior lease accounting guidance in its entirety. The underlying principle of the new standard is the recognition of lease assets and lease liabilities by lessees for substantially all leases, with an exception for leases with terms of less than
twelve
months. The standard also requires additional quantitative and qualitative disclosures. The guidance is effective for interim and annual reporting periods beginning after
December
15,
2018,
and early adoption is permitted. The standard requires a modified retrospective approach, which includes several optional practical expedients. Accordingly, the standard is effective for the Company on
July
1,
2019.
The Company is currently evaluating the impact that this guidance will have on the consolidated financial statements.
 
In
March
2016,
the FASB issued guidance on stock compensation. This guidance simplifies the accounting for the taxes related to stock based compensation, including adjustments to how excess tax benefits and a company's payments for tax withholdings should
be classified. The guidance is effective for public companies for annual periods, and interim periods within those annual periods, beginning after
December
15,
2016,
and early adoption is permitted. The Company is currently evaluating the impact that the guidance will have on the consolidated financial statements.
 
In
August
2016,
the FASB issued
new guidance on how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The standard is effective for the Company beginning
July
1,
2018.
Early adoption is permitted. We do not expect the adoption of this guidance to have a material impact on the consolidated financial statements.
 
In
January
2017,
the FASB amended and clarified guidance related to b
usiness combinations and the definition of a business. The guidance is effective for annual periods beginning after
December
15,
2017,
including interim periods within those periods. Accordingly, the amendments are effective for the Company beginning
July
1,
2018.
We do not expect the adoption of this guidance to have a material impact on the consolidated financial statements.