Income Taxes (Tables)

12 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes for the years ended June 30, 2014 and 2013 consists of the following:

	2014			2013
Current income tax (benefit) provision
Federal	$	(55,500	)	$	60,000
State	(18,500		)	20,000
	(74,000		)	80,000
Deferred income tax provision
Federal	202,370			651,773
State	30,240			95,052
Change in valuation allowance	(232,610		)	(746,825		)
	—			—
Income tax (benefit) expense	$	(74,000	)	$	80,000

Schedule of Effective Income Tax Rate Reconciliation

Income taxes (benefit) as a percentage of income (loss) for the years ended June 30, 2014 and 2013 differ from statutory federal income tax rate due to the following:

	2014		2013
Statutory federal income tax rate	34.00	%	34.00	%
(Decrease) in deductable timing differences	(62.23	)%	(52.00	)%
Net operating loss carryforward	12.00	%	21.00	%
Effective income tax rate	(16.23	)%	3.00	%

Schedule of Deferred Tax Assets and Liabilities

The components of the net deferred income tax assets and liabilities as of June 30, 2014 and 2013 are as follows:

	2014			2013
Deferred income tax assets:
Net operating loss carryforward	$	10,396,247		$	10,325,622
Executive post retirement costs	320,821			348,703
General business credit	207,698			207,698
Allowance for doubtful accounts	105,982			139,251
Accrued vacation	122,292			111,529
Inventory reserve	67,361			67,361
Accelerated amortization on goodwill and other intangible assets	182,979			402,451
Accelerated depreciation	—			36,860
Warranty reserve	10,907			7,422
Total deferred income tax assets	11,414,287			11,646,897
Valuation allowance	(11,414,287		)	(11,646,897		)