Integrated BioPharma (INBP) 10-Q 19 Feb 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2015	Feb. 12, 2016
Entity Registrant Name	INTEGRATED BIOPHARMA INC
Entity Central Index Key	1,016,504
Trading Symbol	inbp
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		21,105,174
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Sales, net	$ 10,413	$ 10,290	$ 19,859	$ 18,872
Cost of sales	9,438	9,035	17,569	16,316
Gross profit	975	1,255	2,290	2,556
Selling and administrative expenses	807	856	1,637	1,708
Operating income	168	399	653	848
Other income (expense), net
Change in fair value of derivative liabilities	6	447	3	661
Other income, net	26	18	50	27
Interest expense	(243)	(250)	(480)	(490)
Other income (expense), net	(211)	215	(427)	198
(Loss) income before income taxes	(43)	614	226	1,046
Income tax expense, net	20	67	48	96
Net (loss) income	$ (63)	547	$ 178	950
Change in fair value of derivative liability		(447)		(661)
Interest expense on Convertible debt-CD Financial, LLC		82		164
Accretion of Convertible debt - CD Financial, LLC		28		55
Diluted net (loss) income	$ (63)	$ 210	$ 178	$ 508
Basic net (loss) income per common share (in dollars per share)	$ 0	$ 0.03	$ 0.01	$ 0.05
Diluted net (loss) income per common share (in dollars per share)	$ 0	$ 0.01	$ 0.01	$ 0.02
Weighted average common shares outstanding - basic (in shares)	21,105,174	21,105,174	21,105,174	21,105,174
Add: Stock options (in shares)				99,887
Shares issuable upon conversion of Convertible Debt - CD Financial, LLC (in shares)		8,230,769		8,230,769
Weighted average common shares outstanding - diluted (in shares)	21,105,174	29,335,943	21,105,174	29,435,830

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Current Assets:
Cash	$ 60	$ 71
Accounts receivable, net	3,991	2,638
Inventories	7,019	5,778
Investment in iBio, Inc.	501	501
Other current assets	368	334
Total current assets	11,939	9,322
Intangible assets, net	688	743
Property and equipment, net	1,488	1,373
Security deposits and other assets	105	185
Total Assets	14,220	11,623
Current Liabilities:
Advances under revolving credit facility	5,967	4,462
Accounts payable (includes $292 and $290 due to related party)	6,533	5,148
Accrued expenses and other current liabilities	1,149	1,536
Current portion of long term debt	713	719
Total current liabilities	14,362	11,865
Long term debt	3,794	3,942
Subordinated convertible note, net - CD Financial, LLC	5,176	5,120
Derivative liabilities	9	12
Total liabilities	$ 23,341	$ 20,939
Commitments and Contingencies
Stockholders' Deficiency:
Common Stock, $0.002 par value; 50,000,000 shares authorized; 21,140,074 and 21,105,174 shares issued and outstanding, respectively	$ 42	$ 42
Additional paid-in capital	44,692	44,676
Accumulated deficit	(53,756)	(53,935)
Less: Treasury stock, at cost, 34,900 shares	(99)	(99)
Total Stockholders' Deficiency	(9,121)	(9,316)
Total Liabilities and Stockholders' Deficiency	$ 14,220	$ 11,623

Condensed Consolidated Balance4

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Due to related party, current	$ 292	$ 290
Common stock, par value (in dollars per share)	$ 0.002	$ 0.002
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	21,140,074	21,140,074
Common stock, shares outstanding (in shares)	21,105,174	21,105,174
Treasury stock, shares outstanding (in shares)	34,900	34,900

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 178,000	$ 950,000
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	171,000	199,000
Accretion of financing instruments and other non-cash interest	121,000	$ 120,000
Compensation expense for employee stock options	17,000
Change in fair value of derivative liabilities	(3,000)	$ (661,000)
Gain on sale of fixed assets	(3,000)	(2,000)
Changes in operating assets and liabilities:
Accounts receivable	(1,353,000)	(1,207,000)
Inventories	(1,240,000)	(1,052,000)
Other current assets	$ (34,000)	(96,000)
Security deposits and other assets		(15,000)
Accounts payable	$ 1,378,000	310,000
Accrued expenses and other liabilities	(388,000)	(16,000)
Net cash used in operating activities	(1,156,000)	(1,470,000)
Cash flows from investing activities:
Purchase of property and equipment	(40,000)	$ (188,000)
Cash proceeds from sale of equipment	2,000
Net cash used in investing activities	(38,000)	$ (188,000)
Cash flows from financing activities:
Advances under revolving credit facility	19,022,000	18,861,000
Repayments of advances under revolving credit facility	(17,518,000)	(17,553,000)
Proceeds from Line of Credit Note	43,000	284,000
Repayments under term note payables	(300,000)	(270,000)
Repayments under capital lease obligations	(64,000)	(67,000)
Net cash provided by financing activities	1,183,000	1,255,000
Net decrease in cash	(11,000)	(403,000)
Cash at beginning of period	71,000	451,000
Cash at end of period	60,000	48,000
Supplemental disclosures of cash flow information:
Interest	344,000	351,000
Income taxes	54,000	45,000
Supplemental disclosures of non-cash transactions:
Accretion on embedded derivative feature of convertible note payable	56,000	55,000
Amortization of prepaid financing costs	65,000	65,000
Financing on capitalized lease obligations	$ 182,000	$ 185,000

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation and Basis of Presentation	6 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. Principles of Consolidation and Basis of Presentation Basis of Presentation of Interim Financial Statements The accompanying condensed consolidated financial statements for the interim periods are unaudited and include the accounts of Integrated BioPharma, Inc., a Delaware corporation (together with its subsidiaries, the “Company”). The interim condensed consolidated financial statements have been prepared in conformity with Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and therefore do not include information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America. However, all adjustments (consisting only of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the financial position and operating results for the periods presented have been included. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations, contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015 (“Form 10-K”), as filed with the SEC. The June 30, 2015 balance sheet was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The results of operations for the three and six months ended December 31, 2015 are not necessarily indicative of the results for the full fiscal year ending June 30, 2016 or for any other period. Nature of Operations The Company is engaged primarily in manufacturing, distributing, marketing and sales of vitamins, nutritional supplements and herbal products. The Company’s customers are located primarily in the United States, Luxembourg and Canada. The Company was previously known as Integrated Health Technologies, Inc. and, prior to that, as Chem International, Inc. The Company was reincorporated in its current form in Delaware in 1995. The Company continues to do business as Chem International, Inc. with certain of its customers and certain vendors. The Company’s business segments include: (a) Contract Manufacturing operated by InB:Manhattan Drug Company, Inc. (“MDC”), which manufactures vitamins and nutritional supplements for sale to distributors, multilevel marketers and specialized health-care providers; (b) Branded Proprietary Products operated by AgroLabs, Inc. (“AgroLabs”), which distributes healthful nutritional products for sale through major mass market, grocery, drug and vitamin retailers, under the following brands: Naturally Noni, Coconut Water, Aloe Pure, Peaceful Sleep, Green Envy, ACAI Extra, ACAI Cleanse, Wheatgrass and other products which are being introduced into the market (these are referred to as our branded proprietary nutraceutical business and/or products); and (c) Other Nutraceutical Businesses which includes the operations of (i) The Vitamin Factory (the “Vitamin Factory”), which sells private label MDC products, as well as our AgroLabs products, through the Internet, (ii) IHT Health Products, Inc. (“IHT”) a distributor of fine natural botanicals, including multi minerals produced under a license agreement and (iii) Chem International, Inc. (“Chem”), a distributor of certain raw materials for DSM Nutritional Products LLC. Significant Accounting Policies There have been no material changes during fiscal year 2016 in the Company’s significant accounting policies to those previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015. Investment in iBio, Inc . Pursuant to the Company’s Loan Agreement with PNC Bank, National Association (“PNC”), the Company was required to sell the iBio Stock when the trading price of the iBio Stock is less than $0.88 per share for a period of fifteen (15) consecutive trading days on the applicable exchange and utilize all proceeds from such sale to prepay the outstanding principal of the term loan outstanding under the Loan Agreement at such time. During certain periods in the six months ended December 31, 2015 and the fiscal years ended June 30, 2015, 2014 and 2013, the trading price of the iBio Stock was less than $0.88 for a period of fifteen (15) consecutive trading days. (See Note 5. Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt). As of February 19, 2016, PNC has not required the Company to sell any of the iBio Stock but reserves the right to do so at any time in the future. Although not required to do so, in the quarter ended June 30, 2015, the Company sold 73,191 shares of iBio Stock providing net trading proceeds of approximately $79 which were used to prepay principal outstanding under the Term Loan. (See Note 5. Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt). Additionally, on February 19, 2016, the Loan Agreement with PNC was amended to remove the requirement to sell the iBio Stock based on the selling price of $0.88 per share, the requirement to use all the net proceeds from the sale of any of the iBio Stock to prepay the outstanding principal of the term loan outstanding under the Amended Loan Agreement remains. (See Note 5. Senior Credit Facility, Subordinated Convertible Note, Net – CD Financial, LLC and other Long Term Debt). Earnings Per Share The following options and potentially dilutive shares for convertible notes payable (see Note 5. Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt) were not included in the computation of weighted average diluted common shares outstanding as the effect of doing so would be anti-dilutive for the three and six months ended December 31, 2015 and 2014: Three Months Ended Six Months Ended December 31, December 31, 2015 2014 2015 2014 Anti-dilutive stock options 2,900,450 888,950 2,900,450 401,200 Anti-dilutive shares for convertible notes payable 8,230,769 - 8,230,769 - Anti-dilutive shares 11,131,219 888,950 11,131,219 401,200

Note 2 - Inventories

Note 2 - Inventories	6 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 2 . Inventories Inventories are stated at the lower of cost or market using the first-in, first-out method and consist of the following as of: December 31, June 30, 2015 2015 Raw materials $ 4,762 $ 2,371 Work-in-process 1,178 2,061 Finished goods 1,079 1,346 Total $ 7,019 $ 5,778

Note 3 - Intangible Assets, Net

Note 3 - Intangible Assets, Net	6 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	Note 3. Intangible Assets, net Intangible assets consist of trade names, license fees from the Branded Proprietary Products Segment, and unpatented technology from the Other Nutraceutical Businesses Segment. The carrying amount of intangible assets, net is as follows as of: December 31, 2015 June 30, 2015 Gross Carrying Accumulated Gross Carrying Accumulated Amount Amortization Net Amount Amortization Net Trade names and patents $ 1,525 $ 928 $ 597 $ 1,525 $ 891 $ 634 Unpatented technology 547 547 - 547 540 7 License agreement 347 256 91 347 245 102 Total $ 2,419 $ 1,731 $ 688 $ 2,419 $ 1,676 $ 743 Amortization expense recorded on intangible assets for three and six months ended December 31, 2015 and 2014 was $24 and $55 and $34 and $69, respectively. Amortization expense is recorded on the straight-line basis over periods ranging from 13 years to 20 years based on contractual or estimated lives and is included in selling and administrative expenses. Tests for impairment or recoverability are performed at least annually and require significant management judgment and the use of estimates which the Company believes are reasonable and appropriate at the time of the impairment test. Future unanticipated events affecting cash flows and changes in market conditions could affect such estimates and result in the need for an impairment charge. The Company also re-evaluates the periods of amortization to determine whether circumstances warrant revised estimates of current useful lives. No impairment losses were identified or recorded in the three and six months ended December 31, 2015 and 2014 on the Company’s intangible assets. The estimated annual amortization expense for intangible assets for the five succeeding fiscal years is as follows: Year ending Amortization June 30, Expense Remaining in 2016 $ 49 2017 97 2018 97 2019 97 2020 93 2021 76 Thereafter 179 Total $ 688

Note 4 - Property and Equipment

Note 4 - Property and Equipment, Net	6 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 4 . Property and Equipment, net Property and equipment, net consists of the following as of: December 31, June 30, 2015 2015 Land and building $ 1,250 $ 1,250 Leasehold improvements 1,207 1,159 Machinery and equipment 5,402 5,362 Transportation equipment 11 16 7,870 7,787 Less: Accumulated depreciation and amortization (6,382 ) (6,414 ) Total $ 1,488 $ 1,373 Depreciation and amortization expense recorded on property and equipment was $56 and $70 for the three months ended December 31, 2015 and 2014, respectively and $115 and $131 for the six months ended December 31, 2015 and 2014, respectively. Additionally, the Company disposed of fully depreciated property of $131 and $58 in the six months ended December 31, 2015 and 2014, respectively.

Note 5 - Senior Credit Facility

Note 5 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long-term Debt	6 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 5 . Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt As of December 31, 2015 and June 30, 2015, the Company had the following debt outstanding: Principal Amount Interest Rate Maturity Date As of December 31, 2015 As of June 30, 2015 Revolving advances under Senior Credit Facility with PNC Bank, National Association $ 5,967 $ 4,462 3.50 % 2/19/2020 Installment Note with PNC Bank 1,535 1,802 4.00 % 2/19/2020 Line of Credit Note with PNC Equipment Finance 317 307 4.57 % 7/29/2019 Promissory Note with CD Financial, LLC 1,714 1,714 6.00 % 2/29/2020 Promissory Note with Vitamin Realty, LLC 686 686 4.00 % 2/29/2020 Capitalized lease obligations 228 125 0.00% - 2/26/2016 - 7.10 % 12/8/2020 Promissory Note with E. Gerald Kay 27 27 4.00 % 7/7/2017 Total outstanding debt 10,474 9,123 Less: Revolving Advances (5,967 ) (4,462 ) Current portion of long term debt (713 ) (719 ) Long term debt $ 3,794 $ 3,942 Convertible Note payable - CD Financial, LLC $ 5,350 $ 5,350 6.00 % 2/29/2020 Discount for embedded derivative (174 ) (230 ) Convertible Note payable, net - CD Financial, LLC $ 5,176 $ 5,120 SENIOR CREDIT FACILITY On February 19, 2016 , the Company, MDC, AgroLabs, IHT, IHT Properties Corp. (“IHT Properties”) and Vitamin Factory (collectively, the “Borrowers”) amended the Revolving Credit, Term Loan and Security Agreement (the “Amended Loan Agreement”) with PNC Bank, National Association as agent and lender (“PNC”) and the other lenders party thereto entered into on June 27, 2012 . The Amended Loan Agreement provides for a total of $11,422 in senior secured financing (the “Senior Credit Facility”) as follows: (i) discretionary advances (“Revolving Advances”) based on eligible accounts receivable and eligible inventory in the maximum amount of $8,000 (the “Revolving Credit Facility”) and (ii) a term loan in the amount of $3,422 (the “Term Loan”). The Senior Credit Facility is secured by all assets of the Borrowers, including, without limitation, machinery and equipment, real estate owned by IHT Properties, and common stock of iBio owned by the Company. Revolving Advances bear interest at PNC’s Base Rate or the Eurodollar Rate, at Borrowers’ option, plus 2.75% (3.50% as of December 31, 2015 and 3.25% as of June 30, 2015). The Term Loan bears interest at PNC’s Base Rate or the Eurodollar Rate, at Borrowers’ option, plus 3.25% (4.00% as of December 31, 2015 and 3.75% as of June 30, 2015). Upon and after the occurrence of any event of default under the Amended Loan Agreement, and during the continuation thereof, interest shall be payable at the interest rate then applicable plus 2%. The Senior Credit Facility matures on February 19, 2020 (the “Senior Maturity Date”). The principal balance of the Revolving Advances is payable on the Senior Maturity Date, subject to acceleration, based upon a material adverse event clause, as defined, subjective accelerations for borrowing base reserves, as defined or upon the occurrence of any event of default under the Amended Loan Agreement or earlier termination of the Amended Loan Agreement pursuant to the terms thereof. The Term Loan shall be repaid in eighty-four (84 ) consecutive monthly installments of principal, the first eighty-three (83 ) of which shall be in the amount of $41 , commencing on the first business day of March, 2016 , and continuing on the first business day of each month thereafter, with a final payment of any unpaid balance of principal and interest payable on the Senior Maturity Date. The foregoing is subject to customary mandatory prepayment provisions and acceleration upon the occurrence of any event of default under the Amended Loan Agreement or earlier termination of the Amended Loan Agreement pursuant to the terms thereof. The Revolving Advances are subject to the terms and conditions set forth in the Amended Loan Agreement and are made in aggregate amounts at any time equal to the lesser of (x) $8.0 million or (y) an amount equal to the sum of: (i) up to 85%, subject to the provisions in the Amended Loan Agreement, of eligible accounts receivables (“Receivables Advance Rate”), plus (ii) up to the lesser of (A) 75 %, subject to the provisions in the Amended Loan Agreement, of the value of the eligible inventory (“Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”), (B) 85% of the appraised net orderly liquidation value of eligible inventory (as evidenced by the most recent inventory appraisal reasonably satisfactory to PNC in its sole discretion exercised in good faith) and (C) the inventory sublimit in the aggregate at any one time (“Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”), minus (iii) the aggregate Maximum Undrawn Amount of all outstanding Letters of Credit, minus (iv) such reserves as PNC may reasonably deem proper and necessary from time to time. The Amended Loan Agreement contains customary mandatory prepayment provisions, including, without limitation the requirement to use any sales proceeds from the sale of iBio Stock to repay the Term Loan and to prepay the outstanding amount of the Advances in an amount equal to twenty-five percent (25 %) of Excess Cash Flow for each fiscal year commencing with the fiscal year ending June 30, 2016 , payable upon delivery of the financial statements to PNC referred to in and required by the Amended Loan Agreement for such fiscal year but in any event not later than one hundred twenty (120) days after the end of each such fiscal year, which amount shall be applied ratably to the outstanding principal installments of the Term Loan in the inverse order of the maturities thereof. The Amended Loan Agreement also contains customary representations and warranties, covenants and events of default, including, without limitation, (i) a fixed charge coverage ratio maintenance requirement and (ii) an event of default tied to any change of control as defined in the Amended Loan Agreement. As of December 31, 2015, the Company was not in compliance with the fixed charge coverage ratio maintenance requirement and received a waiver from PNC for the testing period ended on December 31, 2015. The Company has represented to PNC that it will be back in compliance with the fixed charge coverage ratio maintenance for the next testing period for the trailing twelve months ending March 31, 2016. During certain periods in the fiscal year ended June 30, 2013 and continuing through the six months ended December 31, 2015, the trading price of the iBio Stock was less than $0.88 for a period of fifteen (15) consecutive trading days. However, PNC temporarily waived the requirement to sell the iBio Stock due to certain trading rules and restrictions under Rule 144 under the Securities Act of 1933, as amended. As of February 19 , 2016, PNC has not required the Company to sell any of the iBio Stock. Although not required to do so, in the quarter ended June 30, 2015, the Company sold 73,191 shares of iBio Stock, providing net trading proceeds of approximately $79 which proceeds were used to prepay principal outstanding under the Term Loan. On February 19, 2016, the Amended Loan Agreement with PNC removed the requirement to sell the iBio Stock based on the selling price of $0.88 per share, however, the requirement to use all the net proceeds from the sale of any of the iBio Stock to prepay the outstanding principal of the term loan outstanding under the Amended Loan Agreement remains a requirement under the Amended Loan Agreement. In connection with the Senior Credit Facility, PNC and CD Financial entered into the Intercreditor and Subordination Agreement (the “Intercreditor Agreement”), which was acknowledged by the Borrowers, pursuant to which, among other things, (a) the lien of CD Financial on assets of the Borrowers is subordinated to the lien of PNC on such assets during the effectiveness of the Senior Credit Facility, and (b) priorities for payment of the debt for the Company and its subsidiaries (as described in this Note 5) are established. In addition, in connection with the Senior Credit Facility, the following loan documents were executed: (i) a Stock Pledge Agreement with PNC, pursuant to which the Company pledged to PNC the iBio Stock; (ii) a Mortgage and Security Agreement with PNC with IHT Properties; and (iii) an Environmental Indemnity Agreement with PNC. CD FINANCIAL, LLC TROUBLED DEBT RESTRUCTURING On June 27, 2012, the Company also entered into an Amended and Restated Securities Purchase Agreement (the “CD SPA”) with CD Financial, which amended and restated the Securities Purchase Agreement, dated as of February 21, 2008, between the Company and CD Financial, pursuant to which the Company issued to CD Financial a 9.5% Convertible Senior Secured Note in the original principal amount of $4,500 (the “Original CD Note”). Pursuant to the CD SPA, the Company issued to CD Financial (i) the Amended and Restated Convertible Promissory Note in the principal amount of $5,350 (the “CD Convertible Note”) and (ii) the Promissory Note in the principal amount of $1,714 (the “Liquidity Note”, and collectively with the CD Convertible Note, the “CD Notes”). The CD Notes originally matured on July 7, 2017, however, on February 19, 2016, the CD Notes were amended to extend the maturity date to February 29, 2020. The proceeds of the CD Notes were used to refinance (a) the Original CD Note, (b) a $300,000 note issued by MDC to CD Financial which was assigned by MDC to the Company, (c) past due interest in the aggregate amount of $333 and (d) other expenses owed to CD Financial by the Company in the aggregate amount of approximately $217. The CD Notes are secured by all assets of the Borrowers, including, without limitation, machinery and equipment, real estate owned by IHT Properties, and iBio Stock owned by the Company. The CD Notes bear interest at an annual rate of 6% and have a default rate of 10%. The CD Convertible Note is convertible at the option of CD Financial into common stock of the Company at a conversion price of $0.65 per share, subject to customary adjustments including conversion price protection provisions. Pursuant to the terms of the Amended Loan Agreement and the Intercreditor Agreement, during the effectiveness of the Senior Credit Facility, (i) the principal of the CD Convertible Note may not be repaid, (ii) the principal of the Liquidity Note may only be repaid if certain conditions under the Amended Loan Agreement are satisfied, and (iii) interest in respect of the CD Notes may only be paid if certain conditions under the Intercreditor Agreement are satisfied. The CD SPA contains customary representations and warranties, covenants and events of default, including, without limitation, an event of default tied to any change of control as defined in the CD SPA. In connection with the CD SPA, the Borrowers entered into an Amended and Restated Security Agreement and Amended and Restated Subsidiary Guaranty. As of December 31, 2015 and June 30, 2015, the related embedded derivative liability with respect to conversion price protection provisions on the CD Convertible Note has an estimated fair value of $9 and $12, respectively. The Company used the following assumptions to calculate the fair value of the derivative liability using the Black-Scholes option pricing model: December 31, June 30, June 27, 2015 2015 2012 Risk Free Interest Rate 0.65 % 0.64 % 0.72 % Volatility 70.60 % 71.60 % 144.10 % Term (years) 1.5 2 5 Dividend Rate 0.00 % 0.00 % 0.00 % Closing Price of Common Stock $ 0.10 $ 0.09 $ 0.09 OTHER LONG TERM DEBT Related Party Debt . Capitalized Lease Obligations. respectively, of the $150 available from Regents. The lease payment amount (based on the amount outstanding under the lease as of February 19, 2016) of approximately $5 is payable monthly and has an imputed interest rate of 5.7%. On December 8, 2015, the Company entered into a capitalized lease obligation with Wells Fargo Equipment Finance, Manufacturer Services Group (“Wells Fargo”) in the amount of $129 which matures on December 8, 2020. The lease payment amount of approximately $2 is payable monthly and has an imputed interest rate of 4.01%. Equipment Financing Note. In addition, in connection with the LC Note, the following loan documents were executed: (i) a Security Agreement with PNCEF and MDC; (ii) a Guaranty and Security Agreement with PNCEF and the Company; and (iii) a Cross Collateralization Agreement with PNC, PNCEF and MDC.

Note 6 - Significant Risks and

Note 6 - Significant Risks and Uncertainties	6 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 6. Significant Risks and Uncertainties (a) Major Customers. For the three months ended December 31, 2015 and 2014, approximately 91% and 86%, respectively of consolidated net sales, were derived from two customers. These two customers are in the Company’s Contract Manufacturing Segment and represent approximately 31% and 65% and 47% and 44% of this Segment’s net sales in the three months ended December 31, 2015 and 2014, respectively. A third customer in the Branded Nutraceutical Segment, while not a significant customer of the Company’s consolidated net sales, represented approximately 25% and 65% of net sales in the three months ended December 31, 2015 and 2014, respectively, of the Branded Nutraceutical Segment. For the six months ended December 31, 2015 and 2014, approximately 89% and 83%, respectively of consolidated net sales, were derived from two customers. These two customers are in the Company’s Contract Manufacturing Segment and represent approximately 39% and 57% and 54% and 36% of this Segment’s net sales in the six months ended December 31, 2015 and 2014, respectively. A third customer in the Branded Nutraceutical Segment, while not a significant customer of the Company’s consolidated net sales, represented approximately 62% and 74% of net sales in the six months ended December 31, 2015 and 2014, respectively, of the Branded Nutraceutical Segment. Accounts receivable from these two major customers represented approximately 87% and 83% of total net accounts receivable as of December 31 and June 30, 2015, respectively. The loss of any of these customers could have an adverse affect on the Company’s operations. Major customers are those customers who account for more than 10% of net sales. (b) Other Business Risks.

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingencies	6 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 7. Commitments and Contingencies (a) Leases Related Party Leases. Rent expense for the three and six months ended December 31, 2015 and 2014 on these leases were $219 and $204 and $403 and $414, respectively, and are included in both cost of sales and selling and administrative expenses in the accompanying Condensed Consolidated Statements of Operations. As of December 31, 2015 and June 30, 2015, the Company had an outstanding obligation to Vitamin Realty of $1.1 million and $1.0 million, respectively, included in accounts payable, accrued expenses and other liabilities and long term debt in the accompanying Condensed Consolidated Balance Sheet. Other Lease Commitments. The minimum rental commitments for long-term non-cancelable leases are as follows: Operating Related Party Year ending Lease Lease June 30, Commitment Commitment Total 2016, remaining $ 26 $ 281 $ 307 2017 33 563 596 2018 24 563 587 2019 6 563 569 2020 1 563 564 2021 - 563 563 Thereafter - 2,517 2,517 Total $ 90 $ 5,613 $ 5,703 Total rent expense, including real estate taxes and maintenance charges, was approximately $259 and $245 and $485 and $497 for the three and six months ended December 31, 2015 and 2014, respectively. Rent expense is included in cost of sales and selling and administrative expenses in the accompanying Condensed Consolidated Statements of Operations. (b) Legal Proceedings. The Company is subject, from time to time, to claims by third parties under various legal theories. The defense of such claims, or any adverse outcome relating to any such claims, could have a material adverse effect on the Company’s liquidity, financial condition and cash flows. (c) Other Claims. On May 15, 2012, Cedarburg Pharmaceuticals, Inc. ("Cedarburg") sent the Company a letter (the "Demand Letter") setting forth a demand for indemnification under the Stock Purchase Agreement, dated March 17, 2009 (the "Cedarburg SPA"), by and among Cedarburg, InB: Hauser Pharmaceutical Services, Inc., InB: Paxis Pharmaceuticals, Inc. and the Company. In the Demand Letter, Cedarburg demanded payment by the Company of $0.6 million in respect of the Company's indemnification obligations under the Cedarburg SPA. In addition, in the Demand Letter, Cedarburg informed the Company that there are also environmental issues pending which may lead to additional costs to Cedarburg which will likely be in excess of $0.3 million. On May 30, 2012, the Company sent a letter responding to the Demand Letter and setting forth the Company’s position that it has no obligation to indemnify Cedarburg as demanded. On June 18, 2012, Cedarburg responded to the Company’s letter and, on July 27, 2012, the Company sent another letter to Cedarburg reiterating its position that the Company has no obligation to indemnify Cedarburg as demanded. On December 18, 2012, Cedarburg responded to the Company’s letter and, on January 15, 2013, the Company sent another letter to Cedarburg reiterating its position that the Company has no obligation to indemnify Cedarburg as demanded. As of February 19, 2016, the Company has not received any further communication from Cedarburg with respect to its demand for indemnification as set forth in the Demand Letter. The Company intends to vigorously contest Cedarburg's demand as set forth in the Demand Letter.

Note 8 - Related Party Transact

Note 8 - Related Party Transactions	6 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 8. Related Party Transactions See Note 5. Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt for related party securities transactions. See Note 7(a). Leases for related party lease transactions.

Note 9 - Segment Information

Note 9 - Segment Information	6 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 9. Segment Information The basis for presenting segment results generally is consistent with overall Company reporting. The Company reports information about its operating segments in accordance with GAAP which establishes standards for reporting information about a company’s operating segments. The Company has divided its operations into three reportable segments as follows: Contract Manufacturing, Branded Proprietary Products and Other Nutraceutical Businesses. The international sales, concentrated primarily in Europe and Canada, for the three months ended December 31, 2015 and 2014 were $1,826 and $2,112, respectively and for the six months ended December 31, 2015 and 2014 were $3,818 and $4,395, respectively. Financial information relating to the three months ended December 31, 2015 and 2014 operations by business segment are as follows: Sales, Net Segment U.S. International Gross Capital Customers Customers Total Profit (loss) Depreciation Expenditures Contract Manufacturing 2015 $ 8,077 $ 1,814 $ 9,891 $ 842 $ 55 $ 176 2014 7,636 2,006 9,642 1,134 69 23 Branded Proprietary Products 2015 84 3 87 (19 ) - - 2014 69 76 145 (76 ) - - Other Nutraceutical Businesses 2015 426 9 435 152 1 - 2014 473 30 503 198 1 - Total Company 2015 8,587 1,826 10,413 975 56 176 2014 8,178 2,112 10,290 1,255 70 23 Financial information relating to the six months ended December 31, 2015 and 2014 operations by business segment are as follows: Sales, Net Segment U.S. International Gross Capital Customers Customers Total Profit (loss) Depreciation Expenditures Contract Manufacturing 2015 $ 15,007 $ 3,629 $ 18,636 $ 1,883 $ 114 $ 230 2014 13,379 4,071 17,450 2,285 129 374 Branded Proprietary Products 2015 232 175 407 109 - - 2014 198 286 484 (70 ) 1 1 Other Nutraceutical Businesses 2015 802 14 816 298 1 1 2014 900 38 938 341 1 - Total Company 2015 16,041 3,818 19,859 2,290 115 231 2014 14,477 4,395 18,872 2,556 131 375 Total Assets as of December 31, June 30, 2015 2015 Contract Manufacturing $ 11,087 $ 8,482 Branded Proprietary Products 1,325 1,324 Other Nutraceutical Businesses 1,808 1,817 Total Company $ 14,220 $ 11,623

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Cost Method Investments, Policy [Policy Text Block]	Investment in iBio, Inc . Pursuant to the Company’s Loan Agreement with PNC Bank, National Association (“PNC”), the Company was required to sell the iBio Stock when the trading price of the iBio Stock is less than $0.88 per share for a period of fifteen (15) consecutive trading days on the applicable exchange and utilize all proceeds from such sale to prepay the outstanding principal of the term loan outstanding under the Loan Agreement at such time. During certain periods in the six months ended December 31, 2015 and the fiscal years ended June 30, 2015, 2014 and 2013, the trading price of the iBio Stock was less than $0.88 for a period of fifteen (15) consecutive trading days. (See Note 5. Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt). As of February 19, 2016, PNC has not required the Company to sell any of the iBio Stock but reserves the right to do so at any time in the future. Although not required to do so, in the quarter ended June 30, 2015, the Company sold 73,191 shares of iBio Stock providing net trading proceeds of approximately $79 which were used to prepay principal outstanding under the Term Loan. (See Note 5. Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt). Additionally, on February 19, 2016, the Loan Agreement with PNC was amended to remove the requirement to sell the iBio Stock based on the selling price of $0.88 per share, the requirement to use all the net proceeds from the sale of any of the iBio Stock to prepay the outstanding principal of the term loan outstanding under the Amended Loan Agreement remains. (See Note 5. Senior Credit Facility, Subordinated Convertible Note, Net – CD Financial, LLC and other Long Term Debt).
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share The following options and potentially dilutive shares for convertible notes payable (see Note 5. Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt) were not included in the computation of weighted average diluted common shares outstanding as the effect of doing so would be anti-dilutive for the three and six months ended December 31, 2015 and 2014: Three Months Ended Six Months Ended December 31, December 31, 2015 2014 2015 2014 Anti-dilutive stock options 2,900,450 888,950 2,900,450 401,200 Anti-dilutive shares for convertible notes payable 8,230,769 - 8,230,769 - Anti-dilutive shares 11,131,219 888,950 11,131,219 401,200

Note 1 - Principles of Consol16

Note 1 - Principles of Consolidation and Basis of Presentation (Tables)	6 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended Six Months Ended December 31, December 31, 2015 2014 2015 2014 Anti-dilutive stock options 2,900,450 888,950 2,900,450 401,200 Anti-dilutive shares for convertible notes payable 8,230,769 - 8,230,769 - Anti-dilutive shares 11,131,219 888,950 11,131,219 401,200

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	6 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, June 30, 2015 2015 Raw materials $ 4,762 $ 2,371 Work-in-process 1,178 2,061 Finished goods 1,079 1,346 Total $ 7,019 $ 5,778

Note 3 - Intangible Assets, N18

Note 3 - Intangible Assets, Net (Tables)	6 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	December 31, 2015 June 30, 2015 Gross Carrying Accumulated Gross Carrying Accumulated Amount Amortization Net Amount Amortization Net Trade names and patents $ 1,525 $ 928 $ 597 $ 1,525 $ 891 $ 634 Unpatented technology 547 547 - 547 540 7 License agreement 347 256 91 347 245 102 Total $ 2,419 $ 1,731 $ 688 $ 2,419 $ 1,676 $ 743
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year ending Amortization June 30, Expense Remaining in 2016 $ 49 2017 97 2018 97 2019 97 2020 93 2021 76 Thereafter 179 Total $ 688

Note 4 - Property and Equipme19

Note 4 - Property and Equipment, Net (Tables)	6 Months Ended
	Dec. 31, 2015
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, June 30, 2015 2015 Land and building $ 1,250 $ 1,250 Leasehold improvements 1,207 1,159 Machinery and equipment 5,402 5,362 Transportation equipment 11 16 7,870 7,787 Less: Accumulated depreciation and amortization (6,382 ) (6,414 ) Total $ 1,488 $ 1,373

Note 5 - Senior Credit Facili20

Note 5 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long-term Debt (Tables)	6 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Debt [Table Text Block]	Principal Amount Interest Rate Maturity Date As of December 31, 2015 As of June 30, 2015 Revolving advances under Senior Credit Facility with PNC Bank, National Association $ 5,967 $ 4,462 3.50 % 2/19/2020 Installment Note with PNC Bank 1,535 1,802 4.00 % 2/19/2020 Line of Credit Note with PNC Equipment Finance 317 307 4.57 % 7/29/2019 Promissory Note with CD Financial, LLC 1,714 1,714 6.00 % 2/29/2020 Promissory Note with Vitamin Realty, LLC 686 686 4.00 % 2/29/2020 Capitalized lease obligations 228 125 0.00% - 2/26/2016 - 7.10 % 12/8/2020 Promissory Note with E. Gerald Kay 27 27 4.00 % 7/7/2017 Total outstanding debt 10,474 9,123 Less: Revolving Advances (5,967 ) (4,462 ) Current portion of long term debt (713 ) (719 ) Long term debt $ 3,794 $ 3,942 Convertible Note payable - CD Financial, LLC $ 5,350 $ 5,350 6.00 % 2/29/2020 Discount for embedded derivative (174 ) (230 ) Convertible Note payable, net - CD Financial, LLC $ 5,176 $ 5,120
Schedule of Derivative Liabilities at Fair Value [Table Text Block]	December 31, June 30, June 27, 2015 2015 2012 Risk Free Interest Rate 0.65 % 0.64 % 0.72 % Volatility 70.60 % 71.60 % 144.10 % Term (years) 1.5 2 5 Dividend Rate 0.00 % 0.00 % 0.00 % Closing Price of Common Stock $ 0.10 $ 0.09 $ 0.09

Note 7 - Commitments and Cont21

Note 7 - Commitments and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Operating Related Party Year ending Lease Lease June 30, Commitment Commitment Total 2016, remaining $ 26 $ 281 $ 307 2017 33 563 596 2018 24 563 587 2019 6 563 569 2020 1 563 564 2021 - 563 563 Thereafter - 2,517 2,517 Total $ 90 $ 5,613 $ 5,703

Note 9 - Segment Information (T

Note 9 - Segment Information (Tables)	6 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Sales, Net Segment U.S. International Gross Capital Customers Customers Total Profit (loss) Depreciation Expenditures Contract Manufacturing 2015 $ 8,077 $ 1,814 $ 9,891 $ 842 $ 55 $ 176 2014 7,636 2,006 9,642 1,134 69 23 Branded Proprietary Products 2015 84 3 87 (19 ) - - 2014 69 76 145 (76 ) - - Other Nutraceutical Businesses 2015 426 9 435 152 1 - 2014 473 30 503 198 1 - Total Company 2015 8,587 1,826 10,413 975 56 176 2014 8,178 2,112 10,290 1,255 70 23 Sales, Net Segment U.S. International Gross Capital Customers Customers Total Profit (loss) Depreciation Expenditures Contract Manufacturing 2015 $ 15,007 $ 3,629 $ 18,636 $ 1,883 $ 114 $ 230 2014 13,379 4,071 17,450 2,285 129 374 Branded Proprietary Products 2015 232 175 407 109 - - 2014 198 286 484 (70 ) 1 1 Other Nutraceutical Businesses 2015 802 14 816 298 1 1 2014 900 38 938 341 1 - Total Company 2015 16,041 3,818 19,859 2,290 115 231 2014 14,477 4,395 18,872 2,556 131 375
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	Total Assets as of December 31, June 30, 2015 2015 Contract Manufacturing $ 11,087 $ 8,482 Branded Proprietary Products 1,325 1,324 Other Nutraceutical Businesses 1,808 1,817 Total Company $ 14,220 $ 11,623

Note 1 - Principles of Consol23

Note 1 - Principles of Consolidation and Basis of Presentation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended	89 Months Ended
	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jun. 27, 2012
IBio Inc [Member] | Minimum [Member]
Share Price		$ 0.88	$ 0.88	$ 0.88	$ 0.88
IBio Inc [Member] | Minimum Share Price Acceptable Before Required to Sell [Member]
Share Price		$ 0.88	$ 0.88
IBio Inc [Member]
Equity Method Investment, Ownership Percentage		6.00%	6.00%
Investment Owned, Balance, Shares		1,266,706	1,266,706
Asset Impairment Charges			$ 2,200
Investment Owned, at Fair Value		$ 700	$ 700
Consecutive Trading Days for Stock Price Threshold		15 days
Investment, Shares Sold	73,191
Proceeds from Sale of Long-term Investments	$ 79
Share Price	$ 0.09	$ 0.10	$ 0.10			$ 0.09

Note 1 - Antidilutive Securitie

Note 1 - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Employee Stock Option [Member]
Anti-dilutive stock options (in shares)	2,900,450	888,950	2,900,450	401,200
Warrant [Member]
Anti-dilutive stock options (in shares)	8,230,769		8,230,769
Anti-dilutive stock options (in shares)	11,131,219	888,950	11,131,219	401,200

Note 2 - Inventory (Details)

Note 2 - Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Raw materials	$ 4,762	$ 2,371
Work-in-process	1,178	2,061
Finished goods	1,079	1,346
Total	$ 7,019	$ 5,778

Note 3 - Intangible Assets, N26

Note 3 - Intangible Assets, Net (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life			13 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life			20 years
Impairment of Intangible Assets, Finite-lived	$ 0	$ 0	$ 0	$ 0
Amortization of Intangible Assets	$ 24,000	$ 34,000	$ 55,000	$ 69,000

Note 3 - Finite-lived Intangibl

Note 3 - Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Trade Names and Patents [Member]
Gross Carrying Amount	$ 1,525	$ 1,525
Accumulated Amortization	928	891
Net	597	634
Unpatented Technology [Member]
Gross Carrying Amount	547	547
Accumulated Amortization	$ 547	540
Net		7
Licensing Agreements [Member]
Gross Carrying Amount	$ 347	347
Accumulated Amortization	256	245
Net	91	102
Gross Carrying Amount	2,419	2,419
Accumulated Amortization	1,731	1,676
Net	$ 688	$ 743

Note 3 - Estimated Annual Amort

Note 3 - Estimated Annual Amortization Expense for Intangible Assets (Details) $ in Thousands	Dec. 31, 2015USD ($)
Remaining in 2016	$ 49
2,017	97
2,018	97
2,019	97
2,020	93
2,021	76
Thereafter	179
Total	$ 688

Note 4 - Property and Equipme29

Note 4 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Depreciation	$ 56	$ 70	$ 115	$ 131
Property, Plant and Equipment, Disposals			$ 131	$ 58

Note 4 - Property and Equipme30

Note 4 - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Land and Building [Member]
Property and equipment, gross	$ 1,250	$ 1,250
Leasehold Improvements [Member]
Property and equipment, gross	1,207	1,159
Machinery and Equipment [Member]
Property and equipment, gross	5,402	5,362
Transportation Equipment [Member]
Property and equipment, gross	11	16
Property and equipment, gross	7,870	7,787
Less: Accumulated depreciation and amortization	(6,382)	(6,414)
Total	$ 1,488	$ 1,373

Note 5 - Senior Credit Facili31

Note 5 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long-term Debt (Details Textual) - USD ($)	Feb. 19, 2016	Feb. 19, 2016	Dec. 08, 2015	Jul. 29, 2015	Jun. 27, 2012	Sep. 22, 2014	Jun. 27, 2012	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Sep. 17, 2015	Dec. 31, 2013	Feb. 21, 2008
Amended Loan Agreement [Member] | Subsequent Event [Member] | Revolving Credit Facility [Member] | Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate	2.75%
Amended Loan Agreement [Member] | Subsequent Event [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 8,000,000	$ 8,000,000
Amended Loan Agreement [Member] | Subsequent Event [Member]
Senior Notes	11,422	11,422
Loans Payable, Noncurrent	$ 3,422,000	3,422,000
Amended Loan Agreement [Member]
Line of Credit Facility Covenant Prepayment Provisions Percentage of Excess Cash flow									(25.00%)
Term Loan [Member] | Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate									3.25%
Line of Credit Facility, Interest Rate at Period End								3.75%	4.00%
Term Loan [Member] | Scenario Event of Default [Member]
Debt Instrument, Interest Rate, Increase (Decrease)									2.00%
Revolving Advances [Member]
Line of Credit Facility Covenant Maximum Aggregate Revolving Advance									$ 8,000,000
Line of Credit Facility Covenant Aggregate Revolving Advance Receivables Advance Rate									85.00%
Line of Credit Facility Covenant Aggregate Revolving Advance Inventory Advance Rate									75.00%
Promissory Note [Member] | CD Financial LLC [Member]
Debt Instrument, Face Amount					$ 1,714,000		$ 1,714,000
CD MDC Note [Member]
Repayments of Notes Payable					$ 300,000,000
E. Gerald Kay [Member] | Vitamin Realty LLC [Member]
Debt Instrument, Interest Rate, Stated Percentage									4.00%
Term Note [Member] | Convertible Line of Credit Note [Member]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate				4.57%
Subsequent Event [Member] | Regents [Member] | Capital Lease Obligations [Member]
Debt Instrument, Periodic Payment		$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	5.70%	5.70%
Subsequent Event [Member] | Regents [Member]
Capital Lease Obligations	$ 106,000	$ 106,000
Revolving Credit Facility [Member] | Eurodollar [Member]
Line of Credit Facility, Interest Rate at Period End								3.25%	3.50%
Convertible Line of Credit Note [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 350,000
Debt Instrument, Basis Spread on Variable Rate						3.25%
Debt Instrument Convertible Aggregate Amount Advanced Trigger						$ 350,000
Debt Instrument, Term				4 years
Long-term Line of Credit									$ 350,000
Minimum [Member] | IBio Inc [Member]
Share Price									$ 0.88	$ 0.88		$ 0.88
Maximum [Member] | Regents [Member]
Capital Lease Obligations											$ 90,000
IBio Inc [Member]
Investment, Shares Sold								73,191
Proceeds from Sale of Long-term Investments								$ 79,000
CD Financial LLC [Member] | Default Rate [Member]
Debt Instrument, Interest Rate, Stated Percentage					10.00%		10.00%
CD Financial LLC [Member]
Debt Instrument, Interest Rate, Stated Percentage					6.00%		6.00%						9.50%
Debt Instrument, Face Amount													$ 4,500,000
Convertible Notes Payable					$ 5,350,000		$ 5,350,000
Debt Instrument, Convertible, Conversion Price					$ 0.65		$ 0.65
Embedded Derivative, Fair Value of Embedded Derivative Liability								$ 12,000	$ 9,000
Vitamin Realty LLC [Member]
Debt Instrument, Face Amount					$ 686,000		$ 686,000
E. Gerald Kay [Member]
Debt Instrument, Face Amount									27,000
Regents [Member]
Capital Lease Obligations									54,000
Capital Lease Obligations, Increase Amount											$ 150,000
Wells Fargo [Member] | Capital Lease Obligations [Member]
Debt Instrument, Periodic Payment			$ 2,000
Debt Instrument, Interest Rate, Stated Percentage			4.01%
Wells Fargo [Member]
Capital Lease Obligations			$ 129,000
Debt Instrument, Periodic Payment									$ 41,000
Share Price					$ 0.09		$ 0.09	$ 0.09	$ 0.10
Repayments of Notes Payable									$ 300,000	$ 270,000
Interest Paid							$ 333,000		344,000	$ 351,000
Other Expenses							$ 217,000
Capital Lease Obligations								$ 125,000	$ 228,000

Note 5 - Debt Outstanding (Deta

Note 5 - Debt Outstanding (Details) - USD ($)	6 Months Ended
	Dec. 31, 2015	Jun. 30, 2015
Revolving Advances [Member]
Line of Credit Facility	$ 5,967	$ 4,462
Line of Credit Facility, Interest Rate at Period End	3.50%
Maturity Date	Feb. 19, 2020
Less: Revolving Advances	$ (5,967)	(4,462)
Installment Note with PNC Bank [Member]
Maturity Date	Feb. 19, 2020
Notes Payable	$ 1,535,000	1,802,000
Interest rate	4.00%
PNC Bank [Member]
Line of Credit Facility	$ 317	307
Line of Credit Facility, Interest Rate at Period End	4.57%
Maturity Date	Jul. 29, 2019
Less: Revolving Advances	$ (317)	(307)
CD Financial LLC [Member]
Maturity Date	Feb. 29, 2020
Notes Payable	$ 1,714,000	1,714,000
Interest rate	6.00%
Vitamin Realty LLC [Member]
Maturity Date	Feb. 29, 2020
Notes Payable	$ 686,000	686,000
Interest rate	4.00%
E. Gerald Kay [Member]
Maturity Date	Jul. 7, 2017
Notes Payable	$ 27,000	27,000
Interest rate	4.00%
Minimum [Member]
Capitalized lease obligations	0.00%
Maximum [Member]
Capitalized lease obligations	7.10%
Maturity Date	Dec. 8, 2020
Convertible Debt [Member]
Maturity Date	Feb. 29, 2020
Notes Payable	$ 5,350,000	5,350,000
Interest rate	6.00%
Line of Credit Facility	$ 5,967,000	4,462,000
Capital Lease Obligations	$ 228,000	125,000
Maturity Date	Feb. 26, 2016
Total outstanding debt	$ 10,474,000	9,123,000
Less: Revolving Advances	(5,967,000)	(4,462,000)
Current portion of long term debt	(713,000)	(719,000)
Long term debt	3,794,000	3,942,000
Discount for embedded derivative	(174,000)	(230,000)
Convertible Note payable, net - CD Financial, LLC	$ 5,176,000	$ 5,120,000

Note 5 - Calculation of Fair Va

Note 5 - Calculation of Fair Value of Derivative Liability (Details) - $ / shares	6 Months Ended	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2015	Jun. 27, 2012
Derivative [Member]
Risk Free Interest Rate	0.65%	0.64%	0.72%
Volatility	70.60%	71.60%	144.10%
Term (years)	1 year 182 days	2 years	5 years
Dividend Rate	0.00%	0.00%	0.00%
Closing Price of Common Stock (in dollars per share)	$ 0.10	$ 0.09	$ 0.09

Note 6 - Significant Risks an34

Note 6 - Significant Risks and Uncertainties (Details Textual)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Concentration Risk, Percentage	91.00%	86.00%	89.00%	83.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Major Customer 1 [Member] | Contract Manufacturing [Member]
Concentration Risk, Percentage	31.00%	47.00%	39.00%	54.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Major Customer 2 [Member] | Contract Manufacturing [Member]
Concentration Risk, Percentage	65.00%	44.00%	57.00%	36.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Major Customer 3 [Member] | Branded Proprietary Products [Member]
Concentration Risk, Percentage	25.00%	65.00%	62.00%	74.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Concentration Risk, Percentage			87.00%		83.00%
Number of Employees, Geographic Area [Member] | Unionized Employees Concentration Risk [Member]
Concentration Risk, Percentage			62.00%

Note 7 - Commitments and Cont35

Note 7 - Commitments and Contingencies (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2015USD ($)	May. 19, 2014ft²	May. 15, 2012USD ($)	Jan. 05, 2012ft²	Jan. 04, 2012ft²
Manhattan Drug Company [Member]
Area of Real Estate Property | ft²								76,161	74,898
Payments for Rent			$ 533
AgroLabs [Member]
Area of Real Estate Property | ft²						2,700
Payments for Rent			27
Vitamin Realty LLC [Member]
Operating Leases, Rent Expense	$ 219	$ 204	403	$ 414
Accrued Rent	1,100		1,100		$ 1,000
Stock Purchase Agreement [Member]
Loss Contingency, Estimate of Possible Loss							$ 600
Environmental Issues [Member]
Loss Contingency, Estimate of Possible Loss							$ 300
Operating Leases, Rent Expense	$ 259	$ 245	$ 485	$ 497

Note 7 - Minimum Rental Commitm

Note 7 - Minimum Rental Commitment for Long-term Non-cancelable Leases (Details) $ in Thousands	Dec. 31, 2015USD ($)
Operating Lease Commitment [Member]
2016, remaining	$ 26
2,017	33
2,018	24
2,019	6
2,020	$ 1
2,021
Thereafter
Total	$ 90
Related Party Lease Commitment [Member]
2016, remaining	281
2,017	563
2,018	563
2,019	563
2,020	563
2,021	563
Thereafter	2,517
Total	5,613
2016, remaining	307
2,017	596
2,018	587
2,019	569
2,020	564
2,021	563
Thereafter	2,517
Total	$ 5,703

Note 9 - Segment Information (D

Note 9 - Segment Information (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Europe and Canada [Member]
Operating Leases, Rent Expense	$ 1,826	$ 2,112	$ 3,818	$ 4,395
Number of Reportable Segments			3
Operating Leases, Rent Expense	$ 259	$ 245	$ 485	$ 497

Note 9 - Operations by Business

Note 9 - Operations by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
UNITED STATES | Contract Manufacturing [Member]
Sales, net	$ 8,077	$ 7,636	$ 15,007	$ 13,379
UNITED STATES | Branded Proprietary Products [Member]
Sales, net	84	69	232	198
UNITED STATES | Other Nutraceutical Business [Member]
Sales, net	426	473	802	900
UNITED STATES
Sales, net	8,587	8,178	16,041	14,477
International Customers [Member] | Contract Manufacturing [Member]
Sales, net	1,814	2,006	3,629	4,071
International Customers [Member] | Branded Proprietary Products [Member]
Sales, net	3	76	175	286
International Customers [Member] | Other Nutraceutical Business [Member]
Sales, net	9	30	14	38
International Customers [Member]
Sales, net	1,826	2,112	3,818	4,395
Contract Manufacturing [Member]
Sales, net	9,891	9,642	18,636	17,450
Gross Profit	842	1,134	1,883	2,285
Depreciation	55	69	114	129
Capital Expenditures	176	23	230	374
Branded Proprietary Products [Member]
Sales, net	87	145	407	484
Gross Profit	$ (19)	$ (76)	$ 109	(70)
Depreciation				1
Capital Expenditures				1
Other Nutraceutical Business [Member]
Sales, net	$ 435	$ 503	$ 816	938
Gross Profit	152	198	298	341
Depreciation	$ 1	$ 1	1	$ 1
Capital Expenditures			1
Sales, net	$ 10,413	$ 10,290	19,859	$ 18,872
Gross Profit	975	1,255	2,290	2,556
Depreciation	56	70	115	131
Capital Expenditures	$ 176	$ 23	$ 231	$ 375

Note 9 - Operations by Busine39

Note 9 - Operations by Business Segment - Total Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Contract Manufacturing [Member]
Assets	$ 11,087	$ 8,482
Branded Proprietary Products [Member]
Assets	1,325	1,324
Other Nutraceutical Business [Member]
Assets	1,808	1,817
Assets	$ 14,220	$ 11,623