Income Taxes (Tables)

12 Months Ended

Jun. 30, 2013

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes for the years ended June 30, 2013 and 2012 consists of the following:



	2013			2012
Current income tax (benefit) provision
Federal	$	60,000		$	—
State	20,000			—
	80,000			—
Deferred income tax provision
Federal	651,773			(419,527		)
State	95,052			(98,407		)
Change in valuation allowance	(746,825		)	517,934
	—			—
Income tax (benefit) expense	$	80,000		$	—

Schedule of Effective Income Tax Rate Reconciliation

Income taxes (benefit) as a percentage of income (loss) for the years ended June 30, 2013 and 2012 differ from statutory federal income tax rate due to the following:



	2013		2012
Statutory federal income tax rate	34.00	%	(34.00	)%
(Decrease) increase in deductable timing differences	(55.00	)%	11.70	%
Net operating loss carryforward	21.00	%	22.30	%
Effective income tax rate	0.00	%	0.00	%

Schedule of Deferred Tax Assets and Liabilities

The components of the net deferred income tax assets and liabilities as of June 30, 2013 and 2012 are as follows:



	2013			2012
Deferred income tax assets:
Net operating loss carryforward	$	10,325,622		$	10,105,598
Executive post retirement costs	348,703			354,366
General business credit	207,698			207,698
Allowance for doubtful accounts	139,251			232,009
Accrued vacation	111,529			155,012
Inventory reserve	67,361			187,330
Accrued lease termination costs	—			114,969
Accrued interest and other current liabilities	—			118,942
Accelerated amortization on goodwill and other intangible assets	402,451			892,544
Accelerated depreciation	36,860			—
Warranty reserve	7,422			25,253
Total deferred income tax assets	11,646,897			12,393,721
Valuation allowance	(11,646,897		)	(12,363,776		)
	—			29,945
Deferred income tax liabilities:
Accelerated depreciation	—			(29,945		)
Total deferred income tax liabilities	—			(29,945		)
	$	—		$	—