Income Taxes (Tables)

12 Months Ended

Jun. 30, 2022

Income Taxes

Summary of total tax expense and effective income tax rate

	Year Ended June 30,
	2022			2021
Pretax income (loss):
United States	$	(5,129,955	)	$	(5,265,803	)
Foreign		2,450,681			3,014,467
Loss before income taxes	$	(2,679,274	)	$	(2,251,336	)

	Year Ended June 30,
	2022		2021
Current:
Federal tax	$	-	$	-
State		3,829		18,563
Foreign		314,063		403,352
Total current		317,892		421,915
Deferred:
Federal tax		4,000		510,069
State		-		1,931
Foreign		541,015		-
Total deferred		545,015		512,000
Total income tax provision	$	862,907	$	933,915

Reconciliation of income tax

	Year Ended June 30,
	2022			2021
U.S. federal statutory tax rate		21.0	%		21.0	%
Income tax provision reconciliation:
Tax at statutory rate:	$	(562,648	)	$	(472,782	)
Net foreign income subject to lower tax rate		(297,049	)		(169,276	)
State income taxes, net of federal benefit		(159,950	)		(196,719	)
Valuation allowance		(1,255,273	)		(1,400,450	)
NOL expiration and adjustments		2,550,645			3,516,695
GILTI		138,611			310,431
Federal research and development and other credits		(121,990	)		(74,288	)
Stock-based compensation		20,472			(265,485	)
Other permanent differences		11,387			(67,893	)
Other, net		538,702			(246,318	)
	$	862,907		$	933,915

Deferred tax assets and liabilities

	Year Ended June 30,
	2022			2021
Deferred tax assets:
Net operating loss carryforwards	$	12,197,277		$	13,585,000
Stock-based compensation		536,000			563,000
R&D and other credits		2,279,000			2,177,000
Capitalized R&D expenses		371,000			564,000
Inventories		263,973			253,000
Accrued expenses and other		267,000			347,000
Gross deferred tax  assets		15,914,250			17,489,000
Valuation allowance for deferred tax assets		(14,388,277	)		(15,644,000	)
Total deferred tax  assets		1,525,973			1,845,000
Deferred tax liabilities:
Depreciation and other		(763,988	)		(255,000	)
Intangible assets		(1,160,000	)		(1,443,000	)
Total deferred tax liabilities		(1,923,988	)		(1,698,000	)
Net deferred tax assets (liabilities)	$	(398,015	)	$	147,000