v3.26.3
INCOME TAXES (Tables)
12 Months Ended
Jun. 30, 2026
INCOME TAXES  
Schedule of income loss before income tax

($ in thousands)

 

2026

 

 

2025

 

Domestic income (loss) before income taxes

 

$429

 

 

$(448)

Foreign income (loss) before income taxes

 

 

-

 

 

 

-

 

Income (loss) before income taxes

 

$429

 

 

$(448)
Schedule of income tax expences

($ in thousands)

 

2026

 

 

2025

 

Current provision

 

$-

 

 

$-

 

Deferred provision

 

 

719

 

 

 

-

 

Reversal of prior tax accrual

 

 

(44)

 

 

-

 

Income tax expense

 

$675

 

 

$-

 

Schedule of effective income tax rate reconciliation

2026 Rate Reconciliation

 

Amount

 

 

Percentage

 

U.S. federal statutory income tax

 

$90

 

 

 

21.0%

State and local income taxes, net of federal income tax effect

 

 

101

 

 

 

23.6%

Changes in valuation allowances

 

 

382

 

 

 

89.0%

Nontaxable or nondeductible items:

 

 

2

 

 

 

0.5%

Prior-period deferred tax adjustment

 

 

137

 

 

 

32.0%

Reversal of prior-period federal tax accrual

 

 

(38)

 

 

(8.9)%

Income tax expense

 

$675

 

 

 

157.3%

($ in thousands)

 

2025

 

Income tax benefit at U.S. federal statutory rate

 

$(94)

State income taxes, net of federal income tax effect

 

 

(21)

Permanent differences

 

 

2

 

Other adjustments

 

 

22

 

Change in valuation allowance

 

 

91

 

Income tax provision

 

$-

 

Schedule of deferred tax assets and liabilities

($ in thousands)

 

2026

 

 

2025

 

Deferred tax assets:

 

 

 

 

 

 

Net operating loss carryforwards

 

$985

 

 

$1,127

 

Lease liabilities

 

 

831

 

 

 

298

 

Inventory reserves

 

 

75

 

 

 

60

 

Stock compensation

 

 

34

 

 

 

32

 

Allowance for credit losses

 

 

4

 

 

 

9

 

Section 1231 loss carryforward

 

 

2

 

 

 

-

 

Gross deferred tax assets

 

 

1,931

 

 

 

1,526

 

Valuation allowance

 

 

(1,931)

 

 

(1,526)

Deferred tax assets, net of valuation allowance

 

 

-

 

 

 

-

 

Deferred tax liabilities:

 

 

 

 

 

 

 

 

Right-of-use assets

 

 

(801)

 

 

(104)

Property and equipment

 

 

(41)

 

 

(15)

Net deferred tax liability

 

$(842)

 

$(119)
Schedule of income tax paid

($ in thousands)

 

2026

 

Federal

 

$-

 

State and local

 

 

(4)

Foreign

 

 

-

 

Total income taxes paid, net of refunds

 

$(4)