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Income Taxes
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6 Months Ended |
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Dec. 31, 2011
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| Income Tax Disclosure [Abstract] | |
| Income Tax Disclosure Text Block |
Note 13 Income Taxes The Company has estimated the effective tax rate expected to be applicable for the full fiscal year. The Company's effective tax rate used in providing for income taxes on a current year-to-date basis for the six months ended December 31, 2011, is 0% compared to 23% for the six months ended December 31, 2010. For the current fiscal year, we anticipate that we will be providing a full valuation allowance against the Company's deferred tax assets. Deferred tax assets are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating losses and tax credit carry forwards. A valuation allowance reduces deferred tax assets to estimated realizable value, which is the value that corresponds to the future taxable income in certain tax jurisdictions that management deems to be more likely than not achievable. We review our deferred tax assets and valuation allowance on a quarterly basis. As part of our review, we consider positive and negative evidence, including cumulative results in recent years. As a result of our review for the six months ended December 31, 2011, we provided for a full valuation allowance against the Company's deferred tax assets. We anticipate we will continue to record a valuation allowance against the deferred tax assets in all jurisdictions of the Company until such time as we are able to determine it is “more-likely-than-not” the deferred tax asset will be realized. Such a position is dependent on whether there will be sufficient positive evidence to realize such deferred tax assets.
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