Integrated BioPharma (INBP) 10-Q 10 Nov 21 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	15 Months Ended
	Sep. 30, 2021	Nov. 10, 2021
Document Information [Line Items]
Entity Central Index Key	0001016504
Entity Registrant Name	INTEGRATED BIOPHARMA INC
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-31668
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-2407475
Entity Address, Address Line One	225 Long Ave.
Entity Address, City or Town	Hillside
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07205
City Area Code	888
Local Phone Number	319-6962
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		29,821,944

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Sales, net	$ 12,751	$ 15,172
Cost of sales	11,327	12,799
Gross profit	1,424	2,373
Selling and administrative expenses	839	864
Operating income	585	1,509
Other income (expense), net:
Interest expense	(32)	(76)
Realized gain on sale of investment in iBio Stock	0	56
Unrealized loss on investment in iBio Stock	(20)	(29)
Other income, net	6	8
Total other expense, net	(46)	(41)
Income before income taxes	539	1,468
Income tax expense, net	23	427
Net income	$ 516	$ 1,041
Basic net income per common share (in dollars per share)	$ 0.02	$ 0.04
Diluted net income per common share (in dollars per share)	$ 0.02	$ 0.03
Weighted average common shares outstanding - basic (in shares)	29,817,919	29,645,943
Add: Equivalent shares outstanding - Stock Options (in shares)	2,781,977	2,147,133
Weighted average common shares outstanding - diluted (in shares)	32,599,896	31,793,076

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Current Assets:
Cash	$ 57	$ 210
Accounts receivable, net	3,801	5,776
Inventories	12,622	11,695
Other current assets	504	317
Total current assets	16,984	17,998
Property and equipment, net	1,743	1,742
Operating lease right-of-use assets (includes $2,203 and $2,322 with a related party)	2,239	2,365
Deferred tax assets, net	3,306	3,268
Security deposits and other assets	64	67
Total Assets	24,336	25,440
Current Liabilities:
Advances under revolving credit facility	1,373	2,173
Accounts payable (includes $75 and $65 due to related party)	4,221	3,496
Accrued expenses and other current liabilities	1,472	1,610
Current portion of long term debt, net	136	1,457
Current portion of operating lease liabilities (includes $489 and $485 with a related party)	499	500
Total current liabilities	7,701	9,236
Operating lease liabilities (includes $1,718 and $1,842 with a related party)	1,744	1,870
Total liabilities	9,445	11,106
Commitments and Contingencies
Stockholders' Equity :
Common Stock, $0.002 par value; 50,000,000 shares authorized; 29,855,177 and 29,838,177 shares issued and 29,820,277 and 29,803,277 and shares outstanding, respectively	60	60
Additional paid-in capital	50,557	50,516
Accumulated deficit	(35,627)	(36,143)
Less: Treasury stock, at cost, 34,900 shares	(99)	(99)
Total Stockholders' Equity	14,891	14,334
Total Liabilities and Stockholders' Equity	$ 24,336	$ 25,440

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Operating lease right-of-use assets	$ 2,239	$ 2,365
Current portion of operating lease liabilities	499	500
Operating lease liabilities	$ 1,744	$ 1,870
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)	29,855,177	29,838,177
Common stock, shares outstanding (in shares)	29,820,277	29,803,277
Treasury stock, shares (in shares)	34,900	34,900
Vitamin Realty LLC [Member]
Operating lease right-of-use assets	$ 2,203	$ 2,322
Accounts payable, related parties	75	65
Current portion of operating lease liabilities	489	485
Operating lease liabilities	$ 1,718	$ 1,842

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Jun. 30, 2020	29,680,843			34,900
Balance at Jun. 30, 2020	$ 59	$ 50,263	$ (44,156)	$ (99)	$ 6,067
Stock compensation expense for employee stock options	0	8	0	0	8
Net income	$ 0	0	1,041	$ 0	1,041
Balance (in shares) at Sep. 30, 2020	29,680,843			34,900
Balance at Sep. 30, 2020	$ 59	50,271	(43,115)	$ (99)	7,116
Balance (in shares) at Jun. 30, 2021	29,838,177			34,900
Balance at Jun. 30, 2021	$ 60	50,516	(36,143)	$ (99)	14,334
Stock compensation expense for employee stock options	$ 0	37	0	$ 0	37
Shares issued upon exercise of stock options (in shares)	17,000
Shares issued upon exercise of stock options	$ 0	4			4
Net income	$ 0	0	516	$ 0	516
Balance (in shares) at Sep. 30, 2021	29,855,177			34,900
Balance at Sep. 30, 2021	$ 60	$ 50,557	$ (35,627)	$ (99)	$ 14,891

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows provided by operating activities:
Net income	$ 516	$ 1,041
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	85	83
Amortization of operating lease right-of-use assets	126	120
Stock based compensation	37	8
Change in deferred tax assets	(38)	277
Realized gain on sale of investment in iBio Stock	0	(56)
Unrealized loss on investment in iBio Stock	20	29
Other, Net	2	5
Changes in operating assets and liabilities:
Accounts receivable, net	1,975	652
Inventories	(927)	(2,655)
Other current assets	(202)	(185)
Security deposits and other assets	0	(26)
Accounts payable	771	2,696
Accrued expenses and other liabilities	(138)	49
Operating lease obligations	(126)	(120)
Net cash provided by operating activities	2,101	1,918
Cash flows from investing activities:
Purchase of property and equipment	(131)	(53)
Proceeds from sale of iBio Stock	0	96
Net cash (used in) provided by investing activities	(131)	43
Cash flows from financing activities:
Advances under revolving credit facility	14,029	13,921
Proceeds from exercise of stock options	4	0
Repayments of advances under revolving credit facility	(14,830)	(15,144)
Repayments under term note payables	(1,326)	(734)
Repayments under finance lease obligations	0	(37)
Net cash used in financing activities	(2,123)	(1,994)
Net decrease in cash	(153)	(33)
Cash at beginning of period	210	402
Cash at end of period	57	369
Supplemental disclosures of cash flow information:
Interest paid	30	57
Income taxes paid	0	0
Supplemental disclosures of non-cash flow transactions:
Amount owed on purchase of property and equipment	$ 45	$ 20

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation and Basis of Presentation	15 Months Ended
	Sep. 30, 2021
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 03 X not 10 June 30, 2021 ( 10 June 30, 2021 not three September 30, 2021 not June 30, 2022 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 Manhattan Drug Company, Inc. (“MDC”), which manufactures vitamins and nutritional supplements for sale to distributors, multilevel marketers and specialized health-care providers and (b) Other Nutraceutical Businesses which includes the operations of (i) AgroLabs, Inc. (“AgroLabs”), which distributes healthful nutritional products for sale through major mass market, grocery and drug and vitamin retailers, under the following brands: Peaceful Sleep, Wheatgrass and other products which are being introduced into the market (these are referred to as our branded products), (ii) The Vitamin Factory (the “Vitamin Factory”), which sells private label MDC products, as well as our AgroLabs products, through the Internet, (iii) IHT Health Products, Inc. (“IHT”) a distributor of fine natural botanicals, including multi minerals produced under a license agreement, (iv) MDC Warehousing and Distribution, Inc., a service provider for warehousing and fulfillment services and (v) Chem International, Inc. (“Chem”), a distributor of certain raw materials for DSM Nutritional Products LLC. Accounting Policies Accounting Pronouncements Recently Adopted On August 28, 2018, 2018 13, 820 820. This ASU removes certain disclosure requirements regarding the amounts and reasons for transfers between Level 1 2 3 3 2018 13 July 1, 2021, 2018 13. not Aside from the adoption of ASUs, as described above, there have been no 2021 10 June 30, 2021. Significant Accounting Policies Revenue Recognition. 606, five ● identification of the promised goods or services in the contract; ● determination of whether the promised goods or serves are performance obligations including whether they are distinct in the context of the contract; ● measurement of the transaction price, including the constraint on variable consideration; ● allocation of the transaction price to the performance obligations based on estimated selling prices; and ● recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise to transfer a distinct good or service to the customer and is the unit of account in ASC 606. Income Taxes. not not three September 30, 2021 2020, three September 30, 2021 2020, $38 three September 30, 2021, Leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of our leases do not may We have lease agreements with lease and non-lease components, which are generally accounted for separately. For certain equipment leases, such as vehicles, we account for the lease and non-lease components as a single lease component. Earnings Per Share. In each of the three September 30, 2021 2020, not On November 3, 2021, five one three five ten

Note 2 - Inventories

Note 2 - Inventories	15 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 2. Inventories are stated at the lower of cost or net realizable value using the first first September 30, June 30, 2021 2021 Raw materials $ 10,236 $ 7,941 Work-in-process 1,344 2,942 Finished goods 1,042 812 Total $ 12,622 $ 11,695

Note 3 - Property and Equipment

Note 3 - Property and Equipment, Net	15 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 3. Property and equipment, net consists of the following: September 30, June 30, 2021 2021 Land and building $ 1,250 $ 1,250 Leasehold improvements 1,371 1,364 Machinery and equipment 6,415 6,416 Transportation equipment 6 6 9,042 9,036 Less: Accumulated depreciation and amortization (7,299 ) (7,294 ) Total $ 1,743 $ 1,742 Depreciation and amortization expense recorded on property and equipment for the three September 30, 2021 2020 three September 30, 2021 2020,

Note 4 - Senior Credit Facility

Note 4 - Senior Credit Facility	15 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 4. As of September 30, 2021 June 30, 2021, Principal Amount As of September 30, 2021 As of June 30, 2021 Interest Rate Maturity Date Revolving advances under Senior Credit Facility with PNC Bank, National Association $ 1,373 $ 2,173 3.25 % 5/15/2024 Installment Note with PNC Bank 140 1,466 3.50 % 5/15/2024 Total outstanding debt 1,513 3,639 Less: Revolving Advances (1,373 ) (2,173 ) Prepaid financing costs (4 ) (9 ) Current portion of long term debt, net (136 ) (1,457 ) Long term debt, net $ - $ - On May 15, 2019, June 27, 2012, February 19, 2016. The Amended Loan Agreement provides for a total of $11,585 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 $3,585 (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, Inc. owned by the Company ("iBio Stock"). Revolving Advances bear interest at PNC’s Base Rate (3.25% as of September 30 June 30, 2021) September 30 June 30, 2021 2020 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 May 15, 2024 ( 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 first June 2019, 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 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 Term Note in an amount equal to twenty-five June 30, 2016, not one hundred twenty 120 September 30, 2021, 25% June 30, 2016 three September 30, 2020 25% June 30, 2021, $43, January 2022. 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.

Note 5 - Significant Risks and

Note 5 - Significant Risks and Uncertainties	15 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 5. (a) Major Customers. three September 30, 2021 2020, two two three September 30, 2021 2020, two September 30 June 30, 2021, (b) Other Business Risks. September 1, 2018 August 31, 2022. The continued global outbreak of COVID- 19, may one may may Additionally, a disruption in the supply chain for personal protection equipment (“PPE”) and cleaning supplies used in our manufacturing facilities could have an adverse effect on our operations. In accordance with our standard operating procedures and the updated guidelines issued by the Centers for Disease Control and Prevention (the “CDC”) for personal safety, adopted by The U.S. Department of Labor Occupational Safety and Health Administration, we are required to provide the PPE for our employees to wear while working. The inability to obtain timely PPE and cleaning supplies may In addition to supply chain issues resulting from the COVID- 19 Furthermore, the significant outbreak of this contagious disease in the human population has resulted in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could affect demand for the Company’s products and impact the Company’s operating results. The Company does not may

Note 6 - Leases and Other Commi

Note 6 - Leases and Other Commitments and Contingencies	15 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 6. (a) Leases. The components of lease expense for the three September 30, 2021 2020, 2021 2020 Related Party - Vitamin Realty Other Leases Totals Related Party - Vitamin Realty Other Leases Totals Operating lease costs $ 141 $ 26 $ 167 $ 141 $ 24 $ 165 Finance Operating Lease Costs: Amortization of right-of use assets $ - $ - $ - $ - $ 12 $ 12 Interest on operating lease liabilities - - - - 1 1 Total finance lease cost $ - $ - $ - $ - $ 13 $ 13 Operating Lease Liabilities Related Party Operating Lease Liabilities. January 5, 2012, second January 31, 2026. May 19, 2014, January 5, 2012, January 31, 2020 June 1, 2024. Rent expense, lease amortization costs and interest expense for the three September 30, 2021 2020 September 30, June 30, 2021, September 30, June 30, 2021, Other Operating Lease Liabilities. May, 2023, As of September 30, 2021, Right-of-use Assets Current Portion of Operating Lease Obligations Operating Lease Obligations Remaining Cash Commitment Vitamin Realty Leases $ 2,203 $ 489 $ 1,718 $ 2,396 Machinery and equipment leases 2 2 - 2 Office equipment leases 34 8 26 40 $ 2,239 $ 499 $ 1,744 $ 2,438 As of June 30, 2021, Right-of-use Assets Current Portion Operating Lease Obligations Operating Lease Obligations Remaining Cash Commitment Vitamin Realty Leases $ 2,322 $ 485 $ 1,842 $ 2,537 Machinery and equipment leases 5 5 - 5 Office equipment leases 38 10 28 44 $ 2,365 $ 500 $ 1,870 $ 2,586 As of September 30, June 30, 2021, Supplemental cash flows information related to leases for the three September 30, 2021, Related Party - Vitamin Realty Other Leases Totals Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 141 $ 26 $ 167 Operating cash flows from finance leases - - - Financing cash flows from finance lease obligations - - - Supplemental cash flows information related to leases for the three September 30, 2020, Related Party - Vitamin Realty Other Leases Totals Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 141 $ 24 $ 165 Operating cash flows from finance leases - 1 1 Financing cash flows from finance lease obligations - 37 37 The Company did not three September 30, 2021. Maturities of operating lease liabilities as of September 30, 2021 Year Operating Related Party ending Lease Operating Lease June 30, Commitment Commitment Total 2022, remaining $ 10 $ 424 $ 434 2023 9 565 574 2024 9 563 572 2025 9 533 542 2026 5 311 316 Total minimum lease payments 42 2,396 2,438 Imputed interest (6 ) (189 ) (195 ) Total $ 36 $ 2,207 $ 2,243 Total rent expense, lease amortization costs and interest expense, including real estate taxes and maintenance charges, was approximately $266 and $265 for the three September 30, 2021 2020, (b) Legal Proceedings. The Company is subject, from time to time, to claims by third

Note 7 - Related Party Transact

Note 7 - Related Party Transactions	15 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 7. See Note 6

Note 8 - Segment Information an

Note 8 - Segment Information and Disaggregated Revenue	15 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 8. and Disaggregated Revenue 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 two three September 30, 2021 2020 Financial information relating to the three September 30, 2021 2020 Sales, Net Segment U.S. International Gross Capital Customers Customers Total Profit Depreciation Expenditures Contract Manufacturing 2021 $ 10,145 $ 2,190 $ 12,335 $ 1,301 $ 84 $ 131 2020 13,324 1,462 14,786 2,255 82 50 Other Nutraceutical Businesses 2021 386 30 416 123 1 - 2020 381 5 386 118 1 3 Total Company 2021 10,531 2,220 12,751 1,424 85 131 2020 13,705 1,467 15,172 2,373 83 53 Total Assets as of September 30, June 30, 2021 2021 Contract Manufacturing $ 19,968 $ 21,333 Other Nutraceutical Businesses 4,368 Total Company $ 24,336 $ 25,440

Significant Accounting Policies

Significant Accounting Policies (Policies)	15 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	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 03 X not 10 June 30, 2021 ( 10 June 30, 2021 not three September 30, 2021 not June 30, 2022
Nature of Operations [Policy Text Block]	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 Manhattan Drug Company, Inc. (“MDC”), which manufactures vitamins and nutritional supplements for sale to distributors, multilevel marketers and specialized health-care providers and (b) Other Nutraceutical Businesses which includes the operations of (i) AgroLabs, Inc. (“AgroLabs”), which distributes healthful nutritional products for sale through major mass market, grocery and drug and vitamin retailers, under the following brands: Peaceful Sleep, Wheatgrass and other products which are being introduced into the market (these are referred to as our branded products), (ii) The Vitamin Factory (the “Vitamin Factory”), which sells private label MDC products, as well as our AgroLabs products, through the Internet, (iii) IHT Health Products, Inc. (“IHT”) a distributor of fine natural botanicals, including multi minerals produced under a license agreement, (iv) MDC Warehousing and Distribution, Inc., a service provider for warehousing and fulfillment services and (v) Chem International, Inc. (“Chem”), a distributor of certain raw materials for DSM Nutritional Products LLC.
New Accounting Pronouncements, Policy [Policy Text Block]	Accounting Pronouncements Recently Adopted On August 28, 2018, 2018 13, 820 820. This ASU removes certain disclosure requirements regarding the amounts and reasons for transfers between Level 1 2 3 3 2018 13 July 1, 2021, 2018 13. not Aside from the adoption of ASUs, as described above, there have been no 2021 10 June 30, 2021.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition. 606, five ● identification of the promised goods or services in the contract; ● determination of whether the promised goods or serves are performance obligations including whether they are distinct in the context of the contract; ● measurement of the transaction price, including the constraint on variable consideration; ● allocation of the transaction price to the performance obligations based on estimated selling prices; and ● recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise to transfer a distinct good or service to the customer and is the unit of account in ASC 606.
Income Tax, Policy [Policy Text Block]	Income Taxes. not not three September 30, 2021 2020, three September 30, 2021 2020, $38 three September 30, 2021,
Lessee, Leases [Policy Text Block]	Leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of our leases do not may We have lease agreements with lease and non-lease components, which are generally accounted for separately. For certain equipment leases, such as vehicles, we account for the lease and non-lease components as a single lease component.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share. In each of the three September 30, 2021 2020, not On November 3, 2021, five one three five ten

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	15 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, June 30, 2021 2021 Raw materials $ 10,236 $ 7,941 Work-in-process 1,344 2,942 Finished goods 1,042 812 Total $ 12,622 $ 11,695

Note 3 - Property and Equipme_2

Note 3 - Property and Equipment, Net (Tables)	15 Months Ended
	Sep. 30, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, June 30, 2021 2021 Land and building $ 1,250 $ 1,250 Leasehold improvements 1,371 1,364 Machinery and equipment 6,415 6,416 Transportation equipment 6 6 9,042 9,036 Less: Accumulated depreciation and amortization (7,299 ) (7,294 ) Total $ 1,743 $ 1,742

Note 4 - Senior Credit Facili_2

Note 4 - Senior Credit Facility (Tables)	15 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Debt [Table Text Block]	Principal Amount As of September 30, 2021 As of June 30, 2021 Interest Rate Maturity Date Revolving advances under Senior Credit Facility with PNC Bank, National Association $ 1,373 $ 2,173 3.25 % 5/15/2024 Installment Note with PNC Bank 140 1,466 3.50 % 5/15/2024 Total outstanding debt 1,513 3,639 Less: Revolving Advances (1,373 ) (2,173 ) Prepaid financing costs (4 ) (9 ) Current portion of long term debt, net (136 ) (1,457 ) Long term debt, net $ - $ -

Note 6 - Leases and Other Com_2

Note 6 - Leases and Other Commitments and Contingencies (Tables)	15 Months Ended
	Sep. 30, 2021
Notes Tables
Lease, Cost [Table Text Block]	2021 2020 Related Party - Vitamin Realty Other Leases Totals Related Party - Vitamin Realty Other Leases Totals Operating lease costs $ 141 $ 26 $ 167 $ 141 $ 24 $ 165 Finance Operating Lease Costs: Amortization of right-of use assets $ - $ - $ - $ - $ 12 $ 12 Interest on operating lease liabilities - - - - 1 1 Total finance lease cost $ - $ - $ - $ - $ 13 $ 13
Leases and Remaining Commitments [Table Text Block]	Right-of-use Assets Current Portion of Operating Lease Obligations Operating Lease Obligations Remaining Cash Commitment Vitamin Realty Leases $ 2,203 $ 489 $ 1,718 $ 2,396 Machinery and equipment leases 2 2 - 2 Office equipment leases 34 8 26 40 $ 2,239 $ 499 $ 1,744 $ 2,438 Right-of-use Assets Current Portion Operating Lease Obligations Operating Lease Obligations Remaining Cash Commitment Vitamin Realty Leases $ 2,322 $ 485 $ 1,842 $ 2,537 Machinery and equipment leases 5 5 - 5 Office equipment leases 38 10 28 44 $ 2,365 $ 500 $ 1,870 $ 2,586
Supplemental Cash Flow Information, Leases [Table Text Block]	Related Party - Vitamin Realty Other Leases Totals Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 141 $ 26 $ 167 Operating cash flows from finance leases - - - Financing cash flows from finance lease obligations - - - Related Party - Vitamin Realty Other Leases Totals Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 141 $ 24 $ 165 Operating cash flows from finance leases - 1 1 Financing cash flows from finance lease obligations - 37 37
Lessee, Operating Lease and Finance Lease, Liability, Maturity [Table Text Block]	Year Operating Related Party ending Lease Operating Lease June 30, Commitment Commitment Total 2022, remaining $ 10 $ 424 $ 434 2023 9 565 574 2024 9 563 572 2025 9 533 542 2026 5 311 316 Total minimum lease payments 42 2,396 2,438 Imputed interest (6 ) (189 ) (195 ) Total $ 36 $ 2,207 $ 2,243

Note 8 - Segment Information _2

Note 8 - Segment Information and Disaggregated Revenue (Tables)	15 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Sales, Net Segment U.S. International Gross Capital Customers Customers Total Profit Depreciation Expenditures Contract Manufacturing 2021 $ 10,145 $ 2,190 $ 12,335 $ 1,301 $ 84 $ 131 2020 13,324 1,462 14,786 2,255 82 50 Other Nutraceutical Businesses 2021 386 30 416 123 1 - 2020 381 5 386 118 1 3 Total Company 2021 10,531 2,220 12,751 1,424 85 131 2020 13,705 1,467 15,172 2,373 83 53 Total Assets as of September 30, June 30, 2021 2021 Contract Manufacturing $ 19,968 $ 21,333 Other Nutraceutical Businesses 4,368 Total Company $ 24,336 $ 25,440

Note 1 - Principles of Consol_2

Note 1 - Principles of Consolidation and Basis of Presentation (Details Textual) - USD ($) $ in Thousands	Nov. 03, 2021	Sep. 30, 2021	Sep. 30, 2020
Deferred Federal Income Tax Expense (Benefit)		$ (38)	$ 273
Deferred State and Local Income Tax Expense (Benefit)		61	$ 154
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ 128
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		0	0
Share-based Payment Arrangement, Option [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	564,700
Share-based Payment Arrangement, Option [Member] | Subsequent Event [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	1 year
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	5 years
Share-based Payment Arrangement, Option [Member] | Subsequent Event [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years

Note 2 - Inventories - Inventor

Note 2 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Raw materials	$ 10,236		$ 7,941
Work-in-process	1,344		2,942
Finished goods	1,042		812
Total	$ 12,622	$ 11,695	$ 11,695

Note 3 - Property and Equipme_3

Note 3 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Depreciation, Total	$ 85	$ 83
Fully Depreciated Property [Member]
Property, Plant and Equipment, Disposals	$ 80	$ 12

Note 3 - Property and Equipme_4

Note 3 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Property and equipment, gross	$ 9,042		$ 9,036
Less: Accumulated depreciation and amortization	(7,299)		(7,294)
Total	1,743	$ 1,742	1,742
Land and Building [Member]
Property and equipment, gross	1,250		1,250
Leasehold Improvements [Member]
Property and equipment, gross	1,371		1,364
Machinery and Equipment [Member]
Property and equipment, gross	6,415		6,416
Transportation Equipment [Member]
Property and equipment, gross	$ 6		$ 6

Note 4 - Senior Credit Facili_3

Note 4 - Senior Credit Facility (Details Textual) $ in Thousands	May 15, 2019USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Proceeds from Sale, Maturity and Collection of Investments, Total		$ 0	$ 96
iBio Stock [Member]
Proceeds from Sale, Maturity and Collection of Investments, Total			$ 96
Amended Loan Agreement [Member]
Senior Notes, Total	$ 11,585
Debt Instrument, Debt Default, Interest Rate Basic Spread	2.00%
Line of Credit Facility Covenant Prepayment Provisions Percentage of Excess Cash flow		25.00%
Amended Loan Agreement [Member] | Term Loan [Member]
Debt Instrument, Face Amount	$ 3,585
Line of Credit Facility, Interest Rate at Period End		3.50%
Number of Consecutive Monthly Installments	84
Number of Consecutive Monthly Installments, Fixed Amount	83
Debt Instrument, Periodic Payment, Total	$ 43
Line of Credit Facility Covenant Prepayment Provisions Percentage of Excess Cash flow	25.00%
Amended Loan Agreement [Member] | Term Loan [Member] | Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate	3.00%
Amended Loan Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 8,000
Line of Credit Facility, Interest Rate at Period End		3.25%
Line of Credit Facility Covenant Maximum Aggregate Revolving Advance	$ 8,000
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%
Line of Credit Facility, Covenan,t Aggregate Revolving Advance, Appraised Liquidation Value, Inventory Advance Rate	85.00%
Amended Loan Agreement [Member] | Revolving Credit Facility [Member] | Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate	2.50%

Note 4 - Senior Credit Facili_4

Note 4 - Senior Credit Facility and Other Long Term Debt - Debt Outstanding (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Total outstanding debt	$ 1,513	$ 3,639
Prepaid financing costs	(4)	(9)
Current portion of long term debt, net	(136)	(1,457)
Long term debt, net	0	0
Convertible Debt [Member]
Current portion of long term debt, net	(136)	(1,457)
Revolving Advances [Member]
Notes Payable	$ 1,373	2,173
Interest rate	3.25%
Less: Revolving Advances	$ (1,373)	(2,173)
Installment Note with PNC Bank [Member]
Notes Payable	$ 140	$ 1,466
Interest rate	3.50%

Note 5 - Significant Risks an_2

Note 5 - Significant Risks and Uncertainties (Details Textual)	3 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Number of Major Customers	2	2	2
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Contract Manufacturing [Member]
Number of Major Customers	2	2
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Concentration Risk, Percentage	91.00%	92.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Major Customer 1 [Member] | Contract Manufacturing [Member]
Concentration Risk, Percentage	65.00%	69.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Major Customer 2 [Member] | Contract Manufacturing [Member]
Concentration Risk, Percentage	29.00%	25.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Concentration Risk, Percentage	85.00%		93.00%
Revenue, Segment Benchmark [Member] | Customer Concentration Risk [Member] | Major Customer 1 [Member] | Branded Nutraceutical [Member]
Concentration Risk, Percentage	10.00%
Number of Employees, Geographic Area [Member] | Unionized Employees Concentration Risk [Member]
Concentration Risk, Percentage	70.00%

Note 6 - Leases and Other Com_3

Note 6 - Leases and Other Commitments and Contingencies (Details Textual) $ in Thousands	May 19, 2014USD ($)ft²	Jan. 05, 2012USD ($)ft²	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jan. 04, 2012ft²
Operating Lease, Expense			$ 266	$ 265
Unrelated Party [Member]
Operating Lease, Liability, Total			$ 36
Lessee, Operating Lease, Discount Rate			3.86%		3.75%
Operating Lease, Weighted Average Remaining Lease Term (Year)			4 years 1 month 6 days		4 years 4 months 24 days
Manhattan Drug Company [Member]
Area of Real Estate Property (Square Foot) | ft²		76,161				74,898
Payments for Rent		$ 533
AgroLabs [Member]
Area of Real Estate Property (Square Foot) | 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 Lease, Expense			$ 221	$ 222
Due to Related Parties, Total			75		$ 65
Operating Lease, Liability, Total			$ 2,207		$ 2,327
Minimum [Member]
Lessee, Lease, Term of Contract (Year)			1 year
Maximum [Member]
Lessee, Lease, Term of Contract (Year)			5 years

Note 6 - Leases and Other Com_4

Note 6 - Leases and Other Commitments and Contingencies - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating lease costs	$ 167	$ 165
Amortization of right-of use assets	0	12
Interest on operating lease liabilities	0	1
Total finance lease cost	0	13
Unrelated Party [Member]
Operating lease costs	26	24
Amortization of right-of use assets	0	12
Interest on operating lease liabilities	0	1
Total finance lease cost	0	13
Vitamin Realty LLC [Member]
Operating lease costs	141	141
Amortization of right-of use assets	0	0
Interest on operating lease liabilities	0	0
Total finance lease cost	$ 0	$ 0

Note 6 - Leases and Other Com_5

Note 6 - Leases and Other Commitments and Contingencies - Leases and Commitments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Operating lease right-of-use assets	$ 2,239	$ 2,365
Current portion of operating lease liabilities	499	500
Operating lease liabilities	1,744	1,870
Remaining cash commitment	2,438	2,586
Machinery and Equipment Leases [Member]
Operating lease right-of-use assets	2	5
Current portion of operating lease liabilities	2	5
Operating lease liabilities	0	0
Remaining cash commitment	2	5
Office Equipment Leases [Member]
Operating lease right-of-use assets	34	38
Current portion of operating lease liabilities	8	10
Operating lease liabilities	26	28
Remaining cash commitment	40	44
Vitamin Realty LLC [Member]
Operating lease right-of-use assets	2,203	2,322
Current portion of operating lease liabilities	489	485
Operating lease liabilities	1,718	1,842
Remaining cash commitment	$ 2,396	$ 2,537

Note 6 - Leases and Other Com_6

Note 6 - Leases and Other Commitments and Contingencies - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating cash flows from operating leases	$ 167	$ 165
Operating cash flows from finance leases	0	1
Financing cash flows from finance lease obligations	0
Financing cash flows from finance lease obligations	0
Financing cash flows from finance lease obligations	0	37
Unrelated Party [Member]
Operating cash flows from operating leases	26	24
Operating cash flows from finance leases	0	1
Financing cash flows from finance lease obligations	0
Financing cash flows from finance lease obligations	0
Financing cash flows from finance lease obligations		37
Vitamin Realty LLC [Member]
Operating cash flows from operating leases	141	141
Operating cash flows from finance leases	0	0
Financing cash flows from finance lease obligations	0
Financing cash flows from finance lease obligations	$ 0
Financing cash flows from finance lease obligations		$ 0

Note 6 - Leases and Other Com_7

Note 6 - Leases and Other Commitments and Contingencies - Minimum Rental Commitment for Long-term Non-cancelable Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
2022, remaining financed lease	$ 434
2023, Financed Lease Obligations	574
2024, Financed Lease Obligations	572
2025, Financed Lease Obligations	542
2026, Financed Lease Obligations	316
Total minimum lease payments, Capital Lease Obligation	2,438
Imputed interest, Capital Lease Obligation	(195)
Total, Capital Lease Obligation	2,243
Vitamin Realty LLC [Member]
2022, remaining operating lease	424
2023, Operating Lease	565
2024, Operating Lease	563
2025, Operating Lease	533
2026, Operating Lease	311
Total minimum lease payments, Operating Lease	2,396
Imputed interest, Operating Lease	(189)
Total, Operating Lease	2,207	$ 2,327
Unrelated Party [Member]
2022, remaining operating lease	10
2023, Operating Lease	9
2024, Operating Lease	9
2025, Operating Lease	9
2026, Operating Lease	5
Total minimum lease payments, Operating Lease	42
Imputed interest, Operating Lease	(6)
Total, Operating Lease	$ 36

Note 8 - Segment Information _3

Note 8 - Segment Information and Disaggregated Revenue (Details Textual)	3 Months Ended		15 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021
Number of Reportable Segments			2
Revenue from Contract with Customer, Including Assessed Tax	$ 12,751,000	$ 15,172,000
Europe and Canada [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 2,220	$ 1,467

Note 8 - Segment Information _4

Note 8 - Segment Information and Disaggregated Revenue - Operations by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021
Sales, net	$ 12,751	$ 15,172
Gross Profit	1,424	2,373
Depreciation	85	83
Capital Expenditures	131	53
Assets	24,336		$ 25,440
Contract Manufacturing [Member]
Sales, net	12,335	14,786
Gross Profit	1,301	2,255
Depreciation	84	82
Capital Expenditures	131	50
Assets	19,968		21,333
Other Nutraceutical Business [Member]
Sales, net	416	386
Gross Profit	123	118
Depreciation	1	1
Capital Expenditures	0	3
Assets	4,368		$ 4,107
UNITED STATES
Sales, net	10,531	13,705
UNITED STATES | Contract Manufacturing [Member]
Sales, net	10,145	13,324
UNITED STATES | Other Nutraceutical Business [Member]
Sales, net	386	381
Non-US [Member]
Sales, net	2,220	1,467
Non-US [Member] | Contract Manufacturing [Member]
Sales, net	2,190	1,462
Non-US [Member] | Other Nutraceutical Business [Member]
Sales, net	$ 30	$ 5