Income Taxes (Tables)
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12 Months Ended |
Jun. 30, 2026 |
| Income Taxes |
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| Schedule of the components of income before provision of income taxes |
| | | | | | | | | Years Ended | | | June 30, | | | 2026 | | 2025 | United States | | $ | 2,821,968 | | $ | 1,299,850 | Foreign | | | 133,142 | | | 48,514 | Total income before provision for income taxes | | $ | 2,955,110 | | $ | 1,348,364 |
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| Schedule of provision for income taxes |
| | | | | | | | | Years Ended | | | June 30, | | | 2026 | | 2025 | Current | | | | | | | Federal | | $ | — | | $ | — | State | | | 86,990 | | | 33,613 | Foreign | | | 46,052 | | | 49,198 | Deferred | | | | | | | Federal | | | — | | | — | State | | | — | | | — | Foreign | | | — | | | — | Provision for income tax expense | | $ | 133,042 | | $ | 82,811 |
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| Schedule of reconciliation of the effective income tax rate |
The reconciliation from the federal statutory income tax rate to our effective income tax rate for the fiscal year ended June 30, 2026, applying ASU 2023-09 prospectively, is as follows: | | | | | | | Amount | | % | U.S. federal statutory income tax | $ | 620,573 | | 21.0 | % | State tax, net of federal benefit | | 69,858 | | 2.3 | % | Cross border laws | | 8,354 | | 0.3 | % | Foreign tax effects | | 18,092 | | 0.6 | % | Tax credits | | (120,343) | | (4.1) | % | Non-taxable or non-deductible items: | | | | | | Equity compensation | | 233,104 | | 7.9 | % | Change in earnout | | 218,462 | | 7.4 | % | Other | | 8,346 | | 0.3 | % | Change in valuation allowance | | (923,404) | | (31.2) | % | Total | $ | 133,042 | | 4.5 | % |
The reconciliation from the federal statutory income tax rate to the effective income tax rate for the fiscal year ended June 30, 2025, applying ASC 740 prior to the adoption of AUS 2023-09, is as follows: | | | | | | | % | | | Federal income tax rate | | 21.0 | % | | State tax, net of federal benefit | | 2.4 | % | | Change in earnout | | 22.9 | % | | Adjustment to prior year | | (157.2) | % | | Executive compensation | | (11.6) | % | | Other permanent differences | | 3.1 | % | | Foreign rate differential | | 2.9 | % | | Tax credits | | (15.3) | % | | Change in valuation allowance | | 137.9 | % | | Effective income tax rate | | 6.1 | % | |
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| Schedule of deferred tax assets and liabilities |
| | | | | | | | | June 30, | | June 30, | | | 2026 | | 2025 | Deferred tax assets: | | | | | | | Federal net operating loss carryforward | | $ | 3,090,317 | | $ | 3,475,943 | State net operating loss carryforward | | | 498,731 | | | 479,222 | Stock based compensation | | | 953,875 | | | 1,164,121 | Tax attributes | | | 289,986 | | | 196,809 | Research costs | | | 994,054 | | | 1,713,966 | Other | | | 18,906 | | | 63,948 | Total deferred tax assets | | | 5,845,869 | | | 7,094,009 | Deferred tax liability: | | | | | | | Depreciation and amortization | | | (1,825,304) | | | (2,102,792) | Net deferred tax assets | | | 4,020,565 | | | 4,991,217 | Less valuation allowance | | | (4,020,565) | | | (4,991,217) | | | $ | — | | $ | — |
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| Schedule of cash paid for income taxes (net of refunds) |
| | | | | | | Amount | | United States | | $ | — | | State: | | | | | CA | | | 3,210 | | FL | | | 8,220 | | GA | | | 3,950 | | IL | | | 7,000 | | MA | | | 11,938 | | MN | | | 3,105 | | TX | | | 3,964 | | Other | | | 3,603 | | Foreign | | | 26,223 | | Total | | $ | 71,213 | |
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