12. COMMITMENTS AND CONTINGENCIES	12 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
12. COMMITMENTS AND CONTINGENCIES	Operating Leases – The Company currently leases facilities under two non-cancelable operating leases. The lease on the Company’s corporate offices was renewed effective July 1, 2015 and expires on June 30, 2020 and in June 2016 the Company entered into a lease for approximately 1,700 square feet of laboratory space which expires in June 2020. Future minimum lease payments under these leases are $225,120 for the year ending June 30, 2020. For the years ended June 30, 2019, 2018 and 2017, rent expense was $285,453, $292,411, and $261,580 respectively. Employment Agreements – The Company has employment agreements with two executive officers which provide a stated annual compensation amount, subject to annual increases, and annual bonus compensation in an amount to be approved by the Company’s Board of Directors. Each agreement allows the Company or the employee to terminate the agreement in certain circumstances. In some circumstances, early termination by the Company may result in severance pay to the employee for a period of 18 to 24 months at the salary then in effect, continuation of health insurance premiums over the severance period and immediate vesting of all stock options and restricted stock units. Termination following a change in control will result in a lump sum payment of one and one-half to two times the salary then in effect and immediate vesting of all stock options and restricted stock units. Employee Retirement Savings Plan – The Company maintains a defined contribution 401(k) plan for the benefit of its employees. The Company currently matches a portion of employee contributions to the plan. For the years ended June 30, 2019, 2018 and 2017, Company contributions were $170,643, $166,962, and $199,264, respectively. Contingencies – The Company accounts for litigation losses in accordance with ASC 450-20, Loss Contingencies. Under ASC 450-20, loss contingency provisions are recorded for probable losses when management is able to reasonably estimate the loss. Any outcome upon settlement that deviates from the Company’s best estimate may result in additional expense or in a reduction in expense in a future accounting period. The Company records legal expenses associated with such contingencies as incurred. The Company is involved, from time to time, in various claims and legal proceedings arising in the ordinary course of its business. The Company is not currently a party to any such claims or proceedings that, if decided adversely to it, would either individually or in the aggregate have a material adverse effect on its business, financial condition or results of operations.

12. COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Operating Leases – The Company currently leases facilities under two non-cancelable operating leases. The lease on the Company’s corporate offices was renewed effective July 1, 2015 and expires on June 30, 2020 and in June 2016 the Company entered into a lease for approximately 1,700 square feet of laboratory space which expires in June 2020. Future minimum lease payments under these leases are $225,120 for the year ending June 30, 2020.

For the years ended June 30, 2019, 2018 and 2017, rent expense was $285,453, $292,411, and $261,580 respectively.

Employment Agreements – The Company has employment agreements with two executive officers which provide a stated annual compensation amount, subject to annual increases, and annual bonus compensation in an amount to be approved by the Company’s Board of Directors. Each agreement allows the Company or the employee to terminate the agreement in certain circumstances. In some circumstances, early termination by the Company may result in severance pay to the employee for a period of 18 to 24 months at the salary then in effect, continuation of health insurance premiums over the severance period and immediate vesting of all stock options and restricted stock units. Termination following a change in control will result in a lump sum payment of one and one-half to two times the salary then in effect and immediate vesting of all stock options and restricted stock units.

Employee Retirement Savings Plan – The Company maintains a defined contribution 401(k) plan for the benefit of its employees. The Company currently matches a portion of employee contributions to the plan. For the years ended June 30, 2019, 2018 and 2017, Company contributions were $170,643, $166,962, and $199,264, respectively.

Contingencies – The Company accounts for litigation losses in accordance with ASC 450-20, Loss Contingencies. Under ASC 450-20, loss contingency provisions are recorded for probable losses when management is able to reasonably estimate the loss. Any outcome upon settlement that deviates from the Company’s best estimate may result in additional expense or in a reduction in expense in a future accounting period. The Company records legal expenses associated with such contingencies as incurred.

The Company is involved, from time to time, in various claims and legal proceedings arising in the ordinary course of its business. The Company is not currently a party to any such claims or proceedings that, if decided adversely to it, would either individually or in the aggregate have a material adverse effect on its business, financial condition or results of operations.