Schedule of statutory federal income tax rate to actual rates based on income or loss before income taxes |
|
|
December 31, 2020 |
|
June 30, |
|
|
|
2020 |
|
|
2020
|
|
|
2019
|
|
Noncurrent deferred tax assets:
|
|
|
|
|
|
|
|
|
|
Employee compensation
|
|
$ |
679,106 |
|
|
$
|
378,003
|
|
|
$
|
—
|
|
Debt issuance costs |
|
|
343,612 |
|
|
|
323,183 |
|
|
|
— |
|
Revenue recognition |
|
|
— |
|
|
|
156,022 |
|
|
|
22,226 |
|
Settlement accrual |
|
|
182,896 |
|
|
|
— |
|
|
|
— |
|
Fixed assets |
|
|
831,196 |
|
|
|
— |
|
|
|
— |
|
Federal and state net operating loss
|
|
|
6,337,897 |
|
|
|
4,082,297
|
|
|
|
63,229
|
|
Foreign net operating loss |
|
|
2,586,671 |
|
|
|
258,083 |
|
|
|
— |
|
Other
|
|
|
27,410 |
|
|
|
—
|
|
|
|
—
|
|
Total deferred tax assets
|
|
$ |
10,988,788 |
|
|
$
|
5,197,588
|
|
|
$
|
85,455
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noncurrent deferred tax liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
— |
|
|
|
(653,819) |
|
|
|
— |
|
Intangibles
|
|
|
(2,717,717
|
) |
|
|
(1,808,960
|
) |
|
|
— |
|
Deferred tax liabilities
|
|
$ |
(2,717,717
|
) |
|
$ |
(2,462,779
|
) |
|
$ |
— |
|
Valuation allowance
|
|
|
(8,271,071
|
) |
|
|
(2,734,809
|
) |
|
|
(85,455
|
) |
Deferred taxes after valuation allowance
|
|
$ |
— |
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
December 31, |
|
June 30, |
|
|
|
2020 |
|
|
2020
|
|
|
2019
|
|
Income tax expense attributable to:
|
|
|
|
|
|
|
|
|
|
Federal
|
|
$ |
(3,560,998
|
) |
|
$
|
(3,255,706
|
) |
|
$
|
(2,509,246
|
) |
State, net of federal benefit
|
|
|
(553,871
|
) |
|
|
(862,690
|
) |
|
|
(13,452
|
) |
Foreign tax rate differential |
|
|
29,617 |
|
|
|
(2,645
|
) |
|
|
— |
|
Permanent differences |
|
|
1,263,151 |
|
|
|
312,525 |
|
|
|
— |
|
Rate change |
|
|
60,220 |
|
|
|
— |
|
|
|
— |
|
Restricted stock awards
|
|
|
— |
|
|
|
—
|
|
|
|
816,505
|
|
Changes in valuation allowance
|
|
|
2,762,081 |
|
|
|
3,884,440
|
|
|
|
85,455
|
|
Provision to return adjustment |
|
|
— |
|
|
|
(45,134
|
) |
|
|
— |
|
Losses from flow-through entity not subject to tax
|
|
|
— |
|
|
|
—
|
|
|
|
1,640,066
|
|
Other adjustments
|
|
|
— |
|
|
|
195
|
|
|
|
(19,328
|
) |
Effective income tax expense
|
|
$ |
200 |
|
|
$
|
30,985
|
|
|
$
|
—
|
|
|