Income Taxes (Tables)

12 Months Ended

Jun. 30, 2016

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes for the years ended June 30, 2016 and 2015 consists of the following:



	2016			2015
Current income tax (benefit) provision
Federal	$	—		$	—
State	—			—
	—			—
Deferred income tax provision
Federal	241,250			182,843
State	42,575			32,266
Change in valuation allowance	(283,825		)	(215,109		)
	—			—
Income tax (benefit)	$	—		$	—

Schedule of Effective Income Tax Rate Reconciliation

Income taxes (benefit) as a percentage of income (loss) for the years ended June 30, 2016 and 2015 differ from statutory federal income tax rate due to the following:



	2016		2015
Statutory federal income tax rate	34.00	%	34.00	%
Increase (Decrease) in deductable timing differences	7.00	%	43.00	%
Net operating loss carryforward	(41.00	)%	(77.00	)%
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, 2016 and 2015 are as follows:



	2016			2015
Deferred income tax assets:
Net operating loss carryforward	$	11,222,477		$	10,882,593
Executive post retirement costs	318,743			305,769
General business credit	207,698			207,698
Allowance for doubtful accounts	68,910			78,385
Accrued vacation	105,816			116,418
Inventory reserve	67,361			67,361
Accelerated depreciation	16,340			34,878
Warranty reserve	10,907			10,907
Total deferred income tax assets	12,018,252			11,704,009
Valuation allowance	(11,913,221		)	(11,629,396		)
	105,031			74,613
Deferred income tax liabilities:
Accelerated depreciation	(105,031		)	(74,613		)
Total deferred income tax liabilities	(105,031		)	(74,613		)
	$	—		$	—