Integrated BioPharma (INBP) 10-Q 10 May 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 31, 2017	May 10, 2017
Document Information [Line Items]
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)		21,130,174
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Sales, net	$ 10,654	$ 10,971	$ 35,707	$ 30,830
Cost of sales	9,315	9,647	30,747	27,216
Gross profit	1,339	1,324	4,960	3,614
Selling and administrative expenses	910	874	2,603	2,511
Operating income	429	450	2,357	1,103
Interest expense	(225)	(248)	(684)	(728)
Change in fair value of derivative liabilities	92	(130)	(639)	(127)
Other income, net	10	15	41	65
Other income (expense), net	(123)	(363)	(1,282)	(790)
Income before income taxes	306	87	1,075	313
Income tax expense, net	68	54	265	102
Net income	238	33	810	211
Change in fair value of derivative liability	(92)
Interest expense on Convertible debt-CD Financial, LLC	80
Accretion of Convertible debt - CD Financial, LLC	10
Diluted net income	$ 236	$ 33	$ 810	$ 211
Basic net income per common share (in dollars per share)	$ 0.01	$ 0	$ 0.04	$ 0.01
Diluted net income per common share (in dollars per share)	$ 0.01	$ 0	$ 0.04	$ 0.01
Weighted average common shares outstanding - basic (in shares)	21,125,952	21,105,174	21,113,696	21,105,174
Add: Equivalent shares oustanding - stock options (in shares)	1,434,853	176,754	856,927	92,527
Shares issuable upon conversion of Convertible Debt - CD Financial, LLC (in shares)	8,230,769
Weighted average common shares outstanding - diluted (in shares)	30,791,574	21,281,928	21,970,623	21,197,701

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Cash	$ 196	$ 395
Accounts receivable, net	2,706	3,135
Inventories	7,880	7,756
Investment in iBio, Inc.	501	501
Other current assets	353	283
Total current assets	11,636	12,070
Property and equipment, net	1,654	1,567
Security deposits and other assets	324	448
Total Assets	13,614	14,085
Advances under revolving credit facility	3,706	4,210
Accounts payable (includes $64 and $331 due to related party)	4,677	5,469
Accrued expenses and other current liabilities	1,120	1,211
Current portion of long term debt	1,033	934
Total current liabilities	10,536	11,824
Long term debt	4,605	5,306
Subordinated convertible note, net - CD Financial, LLC	5,235	5,206
Derivative liabilities	715	76
Total liabilities	21,091	22,412
Commitments and Contingencies
Stockholders' Deficiency:
Common Stock, $0.002 par value; 50,000,000 shares authorized; 21,165,074 and 21,140,074 shares issued, 21,130,174 and 21,105,174 shares outstanding	42	42
Additional paid-in capital	44,747	44,707
Accumulated deficit	(52,167)	(52,977)
Less: Treasury stock, at cost, 34,900 shares	(99)	(99)
Total Stockholders' Deficiency	(7,477)	(8,327)
Total Liabilities and Stockholders' Deficiency	$ 13,614	$ 14,085

Condensed Consolidated Balance4

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Accounts payable, due to related parties	$ 64	$ 331
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)	21,165,074	21,140,074
Common stock, shares outstanding (in shares)	21,130,174	21,105,174
Treasury stock, shares acquired (in shares)	34,900	34,900

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income	$ 810	$ 211
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	298	260
Accretion of financing instruments and other non-cash interest	78	165
Stock based compensation	37	24
Change in fair value of derivative liabilities	639	127
Gain on sale of fixed assets		(3)
Changes in operating assets and liabilities:
Accounts receivable	429	(995)
Inventories	(124)	(1,053)
Other current assets	(69)	19
Security deposits and other assets		(153)
Accounts payable	(792)	908
Accrued expenses and other liabilities	(91)	(327)
Net cash provided by (used in) operating activities	1,215	(817)
Cash flows from investing activities:
Purchase of property and equipment	(310)	(40)
Cash proceeds from sale of equipment		2
Net cash used in investing activities	(310)	(38)
Cash flows from financing activities:
Advances under revolving credit facility	34,454	29,623
Repayments of advances under revolving credit facility	(34,958)	(29,869)
Proceeds from sale/lease back	158
Proceeds from exercises of stock options	2
Proceeds from term note payable		1,975
Proceeds from Line of Credit Note		43
Repayments under term note payables	(659)	(450)
Repayments under capitalized lease obligations	(101)	(88)
Net cash (used in) provided by financing activities	(1,104)	1,234
Net (decrease) increase in cash	(199)	379
Cash at beginning of period	395	71
Cash at end of period	196	450
Supplemental disclosures of cash flow information:
Interest	676	535
Income taxes	294	72
Supplemental disclosures of non-cash transactions:
Accretion on embedded derivative feature of convertible note payable	29	76
Amortization of prepaid financing costs	49	89
Financing on capitalized lease obligations		$ 252

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation and Basis of Presentation	9 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. 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 8 01 10 June 30, 2016 10 June 30, 2016 three nine March 31, 2017 June 30, 2017 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 ’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 2017 10 June 30, 2016. Investment in iBio, Inc . 6% (1,266,706 August 2008. $2,168. March 31, 2017 $513 March 31, 2017. 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 fifteen (15) $0.88 fifteen (15) 73,191 June 30, 2015. On February 19, 2016, $0.88 4. Earnings Per Share . Basic earnings per common share amounts are based on weighted average number of common shares outstanding. Diluted earnings per share amounts are based on the weighted average number of common shares outstanding, plus the incremental shares that would have been outstanding upon the assumed exercise of all potentially dilutive stock options, warrants, and convertible debt, subject to anti-dilution limitations using the treasury stock method and if converted method. The following options and potentially dilutive shares for convertible notes payable (see Note 4. three nine March 31, 2017 2016: Three Months Ended Nine Months Ended March 31, March 31, 2017 2016 2017 2016 Anti-dilutive stock options 213,100 694,950 313,100 694,950 Anti-dilutive shares for convertible notes payable - 8,230,769 8,230,769 8,230,769 Anti-dilutive shares 213,100 8,925,719 8,543,869 8,925,719

Note 2 - Inventories

Note 2 - Inventories	9 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 2 . Inventories Inventories are stated at the lower of cost or market using the first first March 31, June 30, 2017 2016 Raw materials $ 4,857 $ 4,040 Work-in-process 1,120 2,212 Finished goods 1,903 1,504 Total $ 7,880 $ 7,756

Note 3 - Property and Equipment

Note 3 - Property and Equipment, Net	9 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 3 . Property and Equipment, net Property and equipment, net consists of the following: March 31, June 30, 2017 2016 Land and building $ 1,250 $ 1,250 Leasehold improvements 1,264 1,210 Machinery and equipment 5,782 5,536 Transportation equipment 11 11 8,307 8,007 Less: Accumulated depreciation and amortization (6,653 ) (6,440 ) Total $ 1,654 $ 1,567 Depreciation and amortization expense recorded on property and equipment was $71 $65 three March 31, 2017 2016, $223 $180 nine March 31, 2017 2016, $10 $163 nine March 31, 2017 2016,

Note 4 - Senior Credit Facility

Note 4 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long Term Debt	9 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	N ote 4 . Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt As of March 31, 2017 and June 30, 2016, Principal Amount Interest Rate Maturity Date As of March 31, 2017 As of June 30, 2016 Revolving advances under Senior Credit Facility with PNC Bank, National Association $ 3,706 $ 4,210 4.00 % 2/19/2020 Installment Note with PNC Bank 2,664 3,259 4.50 % 2/19/2020 Installment Note with PNC Equipment Finance 212 275 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 362 306 3.86% - 3/6/2018- 11.43 % 12/8/2020 Total outstanding debt 9,344 10,450 Less: Revolving Advances (3,706 ) (4,210 ) Current portion of long term debt (1,033 ) (934 ) Long term debt $ 4,605 $ 5,306 Convertible Note payable - CD Financial, LLC $ 5,350 $ 5,350 6.00 % 2/29/2020 Discount for embedded derivative (115 ) (144 ) Convertible Note payable, net - CD Financial, LLC $ 5,235 $ 5,206 SENIOR CREDIT FACILITY On February 1 9, 2016, June 27, 2012. The Amended Loan Agreement provides for a total of $11,422 $8,000 $3,422 2.75% (4.00% 3.50% March 31, 2017 June 30, 2016, 3.25% (4.50% 4.00% March 31, 2017 June 30, 2016, 2%. February 19, 2020 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) first eighty three (83) $41, first March, 2016, first 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) $8,000 85%, 75%, 85% one may 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 Revolving Advances in an amount equal to twenty five (25%) June 30, 2016, one twenty (120) March 31, 2017, The Loan Agreement (prior to giving effect to the February 19, 2016 $0.88. historic periods, the trading price of the iBio Stock was less than $0.88 fifteen (15) 144 1933, June 30, 2015, 73,191 I n 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 4) In addition, in connection with the Senior Credit Facility, the following lo an 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 On June 27, 2012, February 21, 2008, 9.5% $4,500 $5,350 $1,714 originally matured on July 7, 2017, February 19, 2016, February 29, 2020. 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% 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 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 may may 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 March 31, 2017 and June 30, 2016, $715 $76, The Company used the following assumptions to calculate the fair value of the derivative liability using the Black-Scholes option pricing model: March 31, June 30, 2017 2016 Risk Free Interest Rate 1.48 % 0.81 % Volatility 104.50 % 63.20 % Term 2 years 11 months 3 years 8 months Dividend Rate 0.00 % 0.00 % Closing Price of Common Stock $ 0.21 $ 0.11 OTHER LONG TERM DEBT Related Party Debt . June 27, 2012, $686 $27 January 10, 1997, 225 6. June 30, 2008. 7. On May 27, 2016, $27 July 7, 2017, February 29, 2020, February 19, 2016. 4% first may Capitalized Lease Obligations. November 20, 2016, December 5, 2013, $72, $2 5.3%. On March 17, 2017, $158, March 17, 2019. $158, $158 $7 3.86%.

Note 5 - Significant Risks and

Note 5 - Significant Risks and Uncertainties	9 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 5. (a) Major Customers. For the three March 31, 2017 2016, 87% 90%, two two 65% 64% 24% 32% three March 31, 2017 2016, third 5% 23% three March 31, 2017 2016, For each of the nine March 31, 2017 2016, 90% two two 58% 59% 37% 36% nine March 31, 2017 2016, third 73% 42% nine March 31, 2017 2016, two 91% 87% March 31, 2017 June 30, 2016, 10% (b) Other Business Risks. Approximately 67% September 1, 2015 August 31, 2018.

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingencies	9 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 6. (a) Leases Related Party Leases. Warehouse and office facilities are leased from Vitamin Realty, which is 100% January 5, 2012, second 74,898 76,161 January 31, 2026. $533, May 19, 2014, January 5, 2012, 2,700 January 31, 2019 January 1, 2024. $27 Rent expense for the three and nine March 31, 2017 2016 $195 $199 $606 $602, March 31, 2017 June 30, 2016, $761 $1,102, Other Lease Commitments. The Company has entered into certain non-cancelable operating lease agreements expiring up through January 31, 2026, 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 2017, remaining $ 16 $ 141 $ 157 2018 40 563 603 2019 27 563 590 2020 22 563 585 2021 21 563 584 2022 8 563 571 Thereafter - 1,955 1,955 Total $ 134 $ 4,911 $ 5,045 Total rent expense, including real estate taxes and maintenance charges, was approximately $ 226 $239 $718 $724 three nine March 31, 2017 2016, (b) Legal Proceedings. The Company is subject, from time to time, to claims by third ’s liquidity, financial condition and cash flows. (c) Other Claims. On May 15, 2012, the Company a letter (the "Demand Letter") setting forth a demand for indemnification under the Stock Purchase Agreement, dated March 17, 2009 $600 may $300. 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, July 27, 2012, December 18, 2012, January 15, 2013, May 10, 2017,

Note 7 - Related Party Transact

Note 7 - Related Party Transactions	9 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 7. See Note 4 . Senior Credit Facility, Subordinated Convertible Note, net - CD Financial, LLC and other Long Term Debt for related party securities transactions. See Note 6 (a). Leases for related party lease transactions.

Note 8 - Segment Information

Note 8 - Segment Information	9 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 8. 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 Branded Proprietary Products and Other Nutraceutical Businesses. The international sales, concentrated primarily in Europe and Canada, for the three March 31, 2017 2016 $2,005 $1,557, nine March 31, 2017 2016 $6,678 $5,405, Financial information relating to the three March 31, 2017 2016 Sales, Net Segment U.S. International Gross Capital Customers Customers Total Profit (loss) Depreciation Expenditures Contract Manufacturing 2017 $ 8,358 $ 1,983 $ 10,341 $ 1,243 $ 70 $ 219 2016 8,979 1,476 10,455 1,187 65 63 Branded Proprietary Products 2017 31 4 35 (20 ) - - 2016 42 41 83 (33 ) - - Other Nutraceutical Businesses 2017 260 18 278 116 1 7 2016 393 40 433 170 - - Total Company 2017 8,649 2,005 10,654 1,339 71 226 2016 9,414 1,557 10,971 1,324 65 63 Financial information relating to the nine March 31, 2017 2016 Sales, Net Segment U.S. International Gross Capital Customers Customers Total Profit (loss) Depreciation Expenditures Contract Manufacturing 2017 $ 27,885 $ 6,381 $ 34,266 $ 4,483 $ 222 $ 302 2016 23,986 5,105 29,091 3,070 179 292 Branded Proprietary Products 2017 123 199 322 30 - - 2016 259 230 489 76 - - Other Nutraceutical Businesses 2017 1,021 98 1,119 447 1 7 2016 1,180 70 1,250 468 1 1 Total Company 2017 29,029 6,678 35,707 4,960 223 309 2016 25,425 5,405 30,830 3,614 180 293 Total Assets as of March 31, June 30, 2017 2016 Contract Manufacturing $ 11,326 $ 11,853 Branded Proprietary Products 681 676 Other Nutraceutical Businesses 1,607 1,556 Total Company $ 13,614 $ 14,085

Note 1 - Principles of Consol14

Note 1 - Principles of Consolidation and Basis of Presentation (Tables)	9 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended Nine Months Ended March 31, March 31, 2017 2016 2017 2016 Anti-dilutive stock options 213,100 694,950 313,100 694,950 Anti-dilutive shares for convertible notes payable - 8,230,769 8,230,769 8,230,769 Anti-dilutive shares 213,100 8,925,719 8,543,869 8,925,719

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	9 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, June 30, 2017 2016 Raw materials $ 4,857 $ 4,040 Work-in-process 1,120 2,212 Finished goods 1,903 1,504 Total $ 7,880 $ 7,756

Note 3 - Property and Equipme16

Note 3 - Property and Equipment, Net (Tables)	9 Months Ended
	Mar. 31, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, June 30, 2017 2016 Land and building $ 1,250 $ 1,250 Leasehold improvements 1,264 1,210 Machinery and equipment 5,782 5,536 Transportation equipment 11 11 8,307 8,007 Less: Accumulated depreciation and amortization (6,653 ) (6,440 ) Total $ 1,654 $ 1,567

Note 4 - Senior Credit Facili17

Note 4 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long Term Debt (Tables)	9 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Debt [Table Text Block]	Principal Amount Interest Rate Maturity Date As of March 31, 2017 As of June 30, 2016 Revolving advances under Senior Credit Facility with PNC Bank, National Association $ 3,706 $ 4,210 4.00 % 2/19/2020 Installment Note with PNC Bank 2,664 3,259 4.50 % 2/19/2020 Installment Note with PNC Equipment Finance 212 275 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 362 306 3.86% - 3/6/2018- 11.43 % 12/8/2020 Total outstanding debt 9,344 10,450 Less: Revolving Advances (3,706 ) (4,210 ) Current portion of long term debt (1,033 ) (934 ) Long term debt $ 4,605 $ 5,306 Convertible Note payable - CD Financial, LLC $ 5,350 $ 5,350 6.00 % 2/29/2020 Discount for embedded derivative (115 ) (144 ) Convertible Note payable, net - CD Financial, LLC $ 5,235 $ 5,206
Schedule of Derivative Liabilities at Fair Value [Table Text Block]	March 31, June 30, 2017 2016 Risk Free Interest Rate 1.48 % 0.81 % Volatility 104.50 % 63.20 % Term 2 years 11 months 3 years 8 months Dividend Rate 0.00 % 0.00 % Closing Price of Common Stock $ 0.21 $ 0.11

Note 6 - Commitments and Cont18

Note 6 - Commitments and Contingencies (Tables)	9 Months Ended
	Mar. 31, 2017
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 2017, remaining $ 16 $ 141 $ 157 2018 40 563 603 2019 27 563 590 2020 22 563 585 2021 21 563 584 2022 8 563 571 Thereafter - 1,955 1,955 Total $ 134 $ 4,911 $ 5,045

Note 8 - Segment Information (T

Note 8 - Segment Information (Tables)	9 Months Ended
	Mar. 31, 2017
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 2017 $ 8,358 $ 1,983 $ 10,341 $ 1,243 $ 70 $ 219 2016 8,979 1,476 10,455 1,187 65 63 Branded Proprietary Products 2017 31 4 35 (20 ) - - 2016 42 41 83 (33 ) - - Other Nutraceutical Businesses 2017 260 18 278 116 1 7 2016 393 40 433 170 - - Total Company 2017 8,649 2,005 10,654 1,339 71 226 2016 9,414 1,557 10,971 1,324 65 63 Sales, Net Segment U.S. International Gross Capital Customers Customers Total Profit (loss) Depreciation Expenditures Contract Manufacturing 2017 $ 27,885 $ 6,381 $ 34,266 $ 4,483 $ 222 $ 302 2016 23,986 5,105 29,091 3,070 179 292 Branded Proprietary Products 2017 123 199 322 30 - - 2016 259 230 489 76 - - Other Nutraceutical Businesses 2017 1,021 98 1,119 447 1 7 2016 1,180 70 1,250 468 1 1 Total Company 2017 29,029 6,678 35,707 4,960 223 309 2016 25,425 5,405 30,830 3,614 180 293
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	Total Assets as of March 31, June 30, 2017 2016 Contract Manufacturing $ 11,326 $ 11,853 Branded Proprietary Products 681 676 Other Nutraceutical Businesses 1,607 1,556 Total Company $ 13,614 $ 14,085

Note 1 - Principles of Consol20

Note 1 - Principles of Consolidation and Basis of Presentation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Feb. 19, 2016	Mar. 31, 2017	Jun. 30, 2015	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2014	Jun. 30, 2013
Share Price		$ 0.21		$ 0.21		$ 0.11
Consecutive Trading Days for Stock Price Threshold	15 years
IBio Inc [Member] | Maximum [Member]
Share Price	$ 0.88	$ 0.88	$ 0.88	$ 0.88	$ 0.88		$ 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				$ 2,168
Investment Owned, at Fair Value		$ 513		$ 513
Consecutive Trading Days for Stock Price Threshold		15 days
Investment, Shares Sold			73,191

Note 1 - Principles of Consol21

Note 1 - Principles of Consolidation and Basis of Presentation - Antidilutive Securities Excluded From Computation of Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Anti-dilutive shares (in shares)	213,100	8,925,719	8,543,869	8,925,719
Employee Stock Option [Member]
Anti-dilutive shares (in shares)	213,100	694,950	313,100	694,950
Warrant [Member]
Anti-dilutive shares (in shares)		8,230,769	8,230,769	8,230,769

Note 2 - Inventories - Inventor

Note 2 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Raw materials	$ 4,857	$ 4,040
Work-in-process	1,120	2,212
Finished goods	1,903	1,504
Total	$ 7,880	$ 7,756

Note 3 - Property and Equipme23

Note 3 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Depreciation	$ 71	$ 65	$ 223	$ 180
Property, Plant and Equipment, Disposals			$ 10	$ 163

Note 3 - Property and Equipme24

Note 3 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Property and equipment, gross	$ 8,307	$ 8,007
Less: Accumulated depreciation and amortization	(6,653)	(6,440)
Total	1,654	1,567
Land and Building [Member]
Property and equipment, gross	1,250	1,250
Leasehold Improvements [Member]
Property and equipment, gross	1,264	1,210
Machinery and Equipment [Member]
Property and equipment, gross	5,782	5,536
Transportation Equipment [Member]
Property and equipment, gross	$ 11	$ 11

Note 4 - Senior Credit Facili25

Note 4 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long Term Debt (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Mar. 17, 2017	Nov. 20, 2016	Jun. 30, 2016	May 27, 2016	Feb. 19, 2016	Mar. 31, 2017	Jun. 30, 2015	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016	Jun. 30, 2014	Jun. 30, 2013	Jun. 27, 2012	Feb. 21, 2008
Debt Instrument, Periodic Payment					$ 41
Share Price			$ 0.11			$ 0.21		$ 0.21
Consecutive Trading Days for Stock Price Threshold					15 years
Repayments of Long-term Capital Lease Obligations								$ 101	$ 88
Capital Lease Obligations			$ 306			$ 362		362
Sale Leaseback Transaction, Net Proceeds, Financing Activities								158
DeLage Landen Financial Services [Member]
Repayments of Long-term Capital Lease Obligations		$ 72
Capital Lease Transaction, Imputed Interest Rate			5.30%
DeLage Landen Financial Services [Member] | Capital Lease Obligations [Member]
Debt Instrument, Periodic Payment			$ 2
First American Equipment Finance [Member]
Capital Lease Obligations	$ 158
Sale Leaseback Transaction, Net Proceeds, Financing Activities	158
Sale Leaseback Transaction, Monthly Rental Payments	$ 7
Sale Leaseback Transaction, Imputed Interest Rate	3.86%
CD Financial LLC [Member]
Debt Instrument, Interest Rate, Stated Percentage													6.00%	9.50%
Debt Instrument, Face Amount														$ 4,500
Convertible Notes Payable													$ 5,350
Debt Instrument, Convertible, Conversion Price													$ 0.65
Embedded Derivative, Fair Value of Embedded Derivative Liability			$ 76			$ 715		$ 715
CD Financial LLC [Member] | Default Rate [Member]
Debt Instrument, Interest Rate, Stated Percentage													10.00%
Vitamin Realty LLC [Member]
Debt Instrument, Face Amount													$ 686
E. Gerald Kay [Member]
Debt Instrument, Face Amount													27
IBio Inc [Member]
Consecutive Trading Days for Stock Price Threshold						15 days
Investment, Shares Sold							73,191
IBio Inc [Member] | Maximum [Member]
Share Price					$ 0.88	$ 0.88	$ 0.88	$ 0.88		$ 0.88	$ 0.88	$ 0.88
Revolving Credit Facility [Member] | Eurodollar [Member]
Line of Credit Facility, Interest Rate at Period End			3.50%			4.00%		4.00%
Term Loan [Member] | Eurodollar [Member]
Line of Credit Facility, Interest Rate at Period End			4.00%		3.25%	4.50%		4.50%
Amended Loan Agreement [Member]
Senior Notes					$ 11,422
Loans Payable, Noncurrent					$ 3,422
Line of Credit Facility Covenant Prepayment Provisions Percentage of Excess Cash flow					25.00%
Amended Loan Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity					$ 8,000
Amended Loan Agreement [Member] | Revolving Credit Facility [Member] | Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate					2.75%
Term Loan [Member] | Scenario Event of Default [Member]
Debt Instrument, Interest Rate, Increase (Decrease)					2.00%
Number of Consecutive Monthly Installments					84
Number of Consecutive Monthly Installments, Fixed Amount					83
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
E. Gerald Kay [Member] | Vitamin Realty LLC [Member]
Debt Instrument, Interest Rate, Stated Percentage						4.00%		4.00%
Repayments of Related Party Debt				$ 27

Note 4 - Senior Credit Facili26

Note 4 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long Term Debt - Debt Outstanding (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Capitalized lease obligations	$ 362	$ 306
Interest Rate		11.43%
Total outstanding debt	9,344	$ 10,450
Current portion of long term debt	(1,033)	(934)
Long term debt	4,605	5,306
Discount for embedded derivative	(115)	(144)
Convertible Note payable, net - CD Financial, LLC	$ 5,235	5,206
Convertible Debt [Member]
Interest Rate	6.00%
Maturity Date	Feb. 29, 2020
Notes Payable	$ 5,350	5,350
Minimum [Member]
Interest Rate	3.86%
Maturity Date	Mar. 6, 2018
Maximum [Member]
Maturity Date	Dec. 8, 2020
Revolving Advances [Member]
Line of Credit Facility	$ 3,706	4,210
Interest Rate	4.00%
Maturity Date	Feb. 19, 2020
Less: Revolving Advances	$ (3,706)	(4,210)
Installment Note with PNC Bank [Member]
Interest Rate	4.50%
Maturity Date	Feb. 19, 2020
Notes Payable	$ 2,664	3,259
PNC Equipment Finance LLC [Member]
Interest Rate	4.57%
Maturity Date	Jul. 29, 2019
Notes Payable	$ 212	275
CD Financial LLC [Member]
Interest Rate	6.00%
Maturity Date	Feb. 29, 2020
Notes Payable	$ 1,714	1,714
Vitamin Realty LLC [Member]
Interest Rate	4.00%
Maturity Date	Feb. 29, 2020
Notes Payable	$ 686	$ 686

Note 4 - Senior Credit Facili27

Note 4 - Senior Credit Facility, Subordinated Convertible Note, Net - CD Financial, LLC and Other Long Term Debt - Calculation of Fair Value of Derivative Liability (Details) - $ / shares	9 Months Ended	12 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Closing Price of Common Stock (in dollars per share)	$ 0.21	$ 0.11
Derivative [Member]
Risk Free Interest Rate	1.48%	0.81%
Volatility	104.50%	63.20%
Term (Month)	17 years 210 days	3 years 60 days
Dividend Rate	0.00%	0.00%

Note 5 - Significant Risks an28

Note 5 - Significant Risks and Uncertainties (Details Textual)	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Sales Revenue, Segment [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Concentration Risk, Percentage	87.00%	90.00%		90.00%
Sales Revenue, Segment [Member] | Customer Concentration Risk [Member] | Major Customer 1 [Member] | Contract Manufacturing [Member]
Concentration Risk, Percentage	65.00%	64.00%		58.00%	59.00%
Sales Revenue, Segment [Member] | Customer Concentration Risk [Member] | Major Customer 2 [Member] | Contract Manufacturing [Member]
Concentration Risk, Percentage	24.00%	32.00%		37.00%	36.00%
Sales Revenue, Segment [Member] | Customer Concentration Risk [Member] | Major Customer 3 [Member] | Branded Proprietary Products [Member]
Concentration Risk, Percentage	5.00%	23.00%		73.00%	42.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Concentration Risk, Percentage			91.00%		90.00%	87.00%
Number of Employees, Geographic Area [Member] | Unionized Employees Concentration Risk [Member]
Concentration Risk, Percentage	67.00%

Note 6 - Commitments and Cont29

Note 6 - Commitments and Contingencies (Details Textual) $ in Thousands	May 19, 2014USD ($)ft²	Jan. 05, 2012USD ($)ft²	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2016USD ($)	May 15, 2012USD ($)	Jan. 04, 2012ft²
Operating Leases, Rent Expense			$ 226	$ 239	$ 718	$ 724
Stock Purchase Agreement [Member]
Loss Contingency, Estimate of Possible Loss								$ 600,000
Environmental Issues [Member]
Loss Contingency, Estimate of Possible Loss								$ 300,000
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
Chairman, Chief Executive Office and Major Stockholder [Member]
Percent of Ownership for Warehouse and Office Facilities Leased					100.00%
Vitamin Realty LLC [Member]
Operating Leases, Rent Expense			195	$ 199	$ 606	$ 602
Accrued Rent			$ 761,000		$ 761,000		$ 1,102,000

Note 6 - Commitments and Cont30

Note 6 - Commitments and Contingencies - Minimum Rental Commitment for Long-term Non-cancelable Leases (Details) $ in Thousands	Mar. 31, 2017USD ($)
2017, remaining	$ 157
2,018	603
2,019	590
2,020	585
2,021	584
2,022	571
Thereafter	1,955
Total	5,045
Operating Lease Commitment [Member]
2017, remaining	16
2,018	40
2,019	27
2,020	22
2,021	21
2,022	8
Thereafter
Total	134
Related Party Lease Commitment [Member]
2017, remaining	141
2,018	563
2,019	563
2,020	563
2,021	563
2,022	563
Thereafter	1,955
Total	$ 4,911

Note 8 - Segment Information (D

Note 8 - Segment Information (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Number of Reportable Segments	3
Europe and Canada [Member]
Revenues	$ 2,005	$ 1,557	$ 6,678	$ 5,405

Note 8 - Segment Information -

Note 8 - Segment Information - Operations by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Sales, Net	$ 10,654	$ 10,971	$ 35,707	$ 30,830
Segment Gross Profit	1,339	1,324	4,960	3,614
Depreciation	71	65	223	180
Capital Expenditures	226	63	309	293
UNITED STATES
Sales, Net	8,649	9,414	29,029	25,425
International Customers [Member]
Sales, Net	2,005	1,557	6,678	5,405
Contract Manufacturing [Member]
Sales, Net	10,341	10,455	34,266	29,091
Segment Gross Profit	1,243	1,187	4,483	3,070
Depreciation	70	65	222	179
Capital Expenditures	219	63	302	292
Contract Manufacturing [Member] | UNITED STATES
Sales, Net	8,358	8,979	27,885	23,986
Contract Manufacturing [Member] | International Customers [Member]
Sales, Net	1,983	1,476	6,381	5,105
Branded Proprietary Products [Member]
Sales, Net	35	83	322	489
Segment Gross Profit	(20)	(33)	30	76
Depreciation
Capital Expenditures
Branded Proprietary Products [Member] | UNITED STATES
Sales, Net	31	42	123	259
Branded Proprietary Products [Member] | International Customers [Member]
Sales, Net	4	41	199	230
Other Nutraceutical Business [Member]
Sales, Net	278	433	1,119	1,250
Segment Gross Profit	116	170	447	468
Depreciation	1		1	1
Capital Expenditures	7		7	1
Other Nutraceutical Business [Member] | UNITED STATES
Sales, Net	260	393	1,021	1,180
Other Nutraceutical Business [Member] | International Customers [Member]
Sales, Net	$ 18	$ 40	$ 98	$ 70

Note 8 - Segment Operations - T

Note 8 - Segment Operations - Total Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Total Assets	$ 13,614	$ 14,085
Contract Manufacturing [Member]
Total Assets	11,326	11,853
Branded Proprietary Products [Member]
Total Assets	681	676
Other Nutraceutical Business [Member]
Total Assets	$ 1,607	$ 1,556