Misonix (MSON) 10-Q 5 May 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 31, 2016	May. 05, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	MISONIX INC
Entity Central Index Key	880,432
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Trading Symbol	MSON
Entity Common Stock, Shares Outstanding		7,789,385

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 8,357,090	$ 9,623,749
Accounts receivable, less allowance for doubtful accounts of $126,868, respectively	4,101,558	4,481,247
Inventories, net	5,909,277	4,303,163
Prepaid expenses and other current assets	640,082	441,562
Deferred income tax - current	0	2,118,716
Total current assets	19,008,007	20,968,437
Property, plant and equipment, net of accumulated amortization and depreciation of $6,649,264 and $5,672,287, respectively	2,501,683	2,056,600
Patents, net of accumulated amortization of $861,448 and $791,551, respectively	567,672	566,028
Goodwill	1,701,094	1,701,094
Intangible and other assets	253,095	388,377
Deferred income tax - long term	3,152,428	773,712
Total assets	27,183,979	26,454,248
Current liabilities:
Accounts payable	1,542,547	1,147,414
Accrued expenses and other current liabilities	1,268,761	1,532,094
Total current liabilities	2,811,308	2,679,508
Deferred lease liability	6,947	0
Deferred income	9,367	20,395
Total liabilities	$ 2,827,622	$ 2,699,903
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock, $.01 par value-shares authorized 20,000,000, 7,928,234 and 7,869,095 shares issued and 7,789,385 and 7,744,113 shares outstanding, respectively	$ 79,282	$ 78,691
Additional paid-in capital	32,010,042	30,531,129
Accumulated deficit	(6,633,615)	(5,909,215)
Treasury stock, at cost, 138,849 and 124,982 shares, respectively	(1,099,352)	(946,260)
Total stockholders' equity	24,356,357	23,754,345
Total liabilities and stockholders' equity	$ 27,183,979	$ 26,454,248

Consolidated Balance Sheets _Pa

Consolidated Balance Sheets [Parenthetical] - USD ($)	Mar. 31, 2016	Jun. 30, 2015
Allowance for doubtful accounts (in dollars)	$ 126,868	$ 126,868
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment (in dollars)	6,649,264	5,672,287
Finite-Lived Intangible Assets, Accumulated Amortization	$ 861,448	$ 791,551
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	7,928,234	7,869,095
Common stock, shares outstanding	7,789,385	7,744,113
Treasury stock, shares	138,849	124,982

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Net sales	$ 5,426,147	$ 5,314,797	$ 16,716,487	$ 15,455,142
Cost of goods sold	1,850,838	1,670,359	5,564,504	5,023,639
Gross profit	3,575,309	3,644,438	11,151,983	10,431,503
Operating expenses:
Selling expenses	3,224,962	2,465,803	8,744,498	6,570,263
General and administrative expenses	1,673,395	1,583,399	5,336,507	4,364,261
Research and development expenses	493,776	407,773	1,235,100	1,169,665
Total operating expenses	5,392,133	4,456,975	15,316,105	12,104,189
Loss from operations	(1,816,824)	(812,537)	(4,164,122)	(1,672,686)
Other income (expense):
Interest income	19	12	63	56
Royalty income and license fees	963,025	1,032,027	2,969,557	3,224,919
Other	(5,464)	(6,452)	(16,898)	(16,978)
Total other income	957,580	1,025,587	2,952,722	3,207,997
(Loss)/income from continuing operations before income taxes	(859,244)	213,050	(1,211,400)	1,535,311
Income tax (benefit)/expense	(15,000)	8,406	(322,000)	56,223
Net (loss)/income from continuing operations	(844,244)	204,644	(889,400)	1,479,088
Discontinued operations:
Income from discontinued operations net of tax expense of $0 and $0, respectively	0	4,976	0	14,926
Gain from sale of discontinued operations net of tax expense of $85,000 and $5,280, respectively	165,000	244,720	165,000	244,720
Net income from discontinued operations	165,000	249,696	165,000	259,646
Net (loss)/income	$ (679,244)	$ 454,340	$ (724,400)	$ 1,738,734
Net (loss)/income per share from continuing operations - Basic	$ (0.11)	$ 0.03	$ (0.11)	$ 0.20
Net income per share from discontinued operations - Basic	0.02	0.03	0.02	0.03
Net (loss)/income per share - Basic	(0.09)	0.06	(0.09)	0.23
Net (loss)/income per share from continuing operations - Diluted	(0.11)	0.02	(0.11)	0.18
Net income per share from discontinued operations - Diluted	0.02	0.03	0.02	0.03
Net (loss)/income per share - Diluted	$ (0.09)	$ 0.05	$ (0.09)	$ 0.21
Weighted average shares - Basic	7,789,174	7,675,520	7,772,761	7,533,608
Weighted average shares - Diluted	7,789,174	8,313,674	7,772,761	8,042,976

Consolidated Statements of Ope5

Consolidated Statements of Operations [Parenthetical] - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income from discontinued operations, Tax expense	$ 0	$ 0	$ 0	$ 0
Discontinued Operation, Tax Effect Of Discontinued Operation	$ 85,000	$ 5,280	$ 85,000	$ 5,280

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - 9 months ended Mar. 31, 2016 - USD ($)	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Balance at Jun. 30, 2015	$ 23,754,345	$ 78,691	$ (946,260)	$ 30,531,129	$ (5,909,215)
Balance (in shares) at Jun. 30, 2015		7,869,095	(124,982)
Net (loss)/comprehensive (loss)	(724,400)	$ 0	$ 0	0	(724,400)
Proceeds from exercise of stock options	151,247	$ 591	$ (153,092)	303,748	0
Proceeds from exercise of stock options (in shares)		59,139	(13,867)
Stock-based compensation	1,175,165	$ 0	$ 0	1,175,165	0
Balance at Mar. 31, 2016	$ 24,356,357	$ 79,282	$ (1,099,352)	$ 32,010,042	$ (6,633,615)
Balance (in shares) at Mar. 31, 2016		7,928,234	(138,849)

Consolidated Statement of Stoc7

Consolidated Statement of Stockholders' Equity [Parenthetical] - $ / shares	Mar. 31, 2016	Jun. 30, 2015
Common Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net (loss)/income from continuing operations	$ (889,400)	$ 1,479,088
Adjustments to reconcile net (loss)/income to net cash provided by continuing operating activities:
Depreciation and amortization and other non-cash items	1,271,864	1,003,076
Bad debt expense	0	(10,000)
Deferred income tax benefit	(260,000)	0
Stock-based compensation	1,175,165	762,821
Deferred income	(20,852)	(32,830)
Deferred lease liability	6,947	(12,460)
Changes in operating assets and liabilities:
Accounts receivable	379,689	251,289
Inventories	(2,623,620)	(797,027)
Prepaid expenses and other assets	(282,221)	(232,794)
Accounts payable, accrued expenses and other non-cash items	141,624	(717,221)
Net cash (used in)/provided by continuing operating activities	(1,100,804)	1,693,942
Investing activities
Acquisition of property, plant and equipment	(410,561)	(222,052)
Payments for assets acquisition	0	(328,136)
Additional patents	(71,541)	(89,960)
Net cash used in investing activities	(482,102)	(640,148)
Financing activities
Proceeds from exercise of stock options	151,247	555,897
Net cash provided by financing activities	151,247	555,897
Cash flows from discontinued operations
Net cash provided by operating activities	0	14,926
Net cash provided by investing activities	165,000	244,720
Net cash provided by discontinued operations	165,000	259,646
Net (decrease)/increase in cash and cash equivalents	(1,266,659)	1,869,337
Cash and cash equivalents at beginning of period	9,623,749	7,039,938
Cash and cash equivalents at end of period	8,357,090	8,909,275
Supplemental disclosure of cash flow information:
Income taxes	$ 141,120	$ 73,568

Basis of Presentation

Basis of Presentation	9 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	1. Basis of Presentation The accompanying unaudited financial information should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K for the year ended June 30, 2015 (“2015 Annual Report”) of MISONIX, INC. (“Misonix” or the “Company”). A summary of the Company’s significant accounting policies is identified in Note 1 of the notes to the consolidated financial statements included in the Company’s 2015 Annual Report. As of March 31, 2016 the Company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2015-17, “Balance Sheet Classification of Deferred Taxes (Topic 740)”. The amendments in the ASU change the criteria for the classification of deferred income taxes and requires all deferred tax assets and liabilities to be classified as long term. The resulting reclassification of deferred tax assets and liabilities are presented in the current period; prior periods will be shown as reported. The effect is totally on the balance sheet. For the period ended June 30, 2015, the result is a reduction in current assets of $ 2,118,716 16,170,213 The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X pursuant to the requirements of the U.S. Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The results of operations for the interim periods are not necessarily indicative of the results of operations for the entire year. The consolidated financial statements of the Company include the accounts of Misonix and its 100 Misonix is a surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products worldwide for spine surgery, skull-based surgery, neurosurgery, wound and burn debridement, cosmetic surgery, laparoscopic surgery and other surgical applications. Three months ended March 31, Nine months ended ended March 31, 2016 2015 2016 2015 United States $ 3,054,817 $ 2,607,023 $ 9,324,928 $ 7,709,102 Australia 82,985 161,858 203,518 313,221 Europe 814,962 866,726 2,286,245 2,590,616 Asia 677,692 1,016,518 2,246,285 2,759,121 Canada and Mexico 208,538 272,700 620,086 513,916 South America 207,137 96,087 682,688 615,295 South Africa 213,525 64,535 349,490 245,151 Middle East 166,491 229,350 1,003,247 708,720 $ 5,426,147 $ 5,314,797 $ 16,716,487 $ 15,455,142 High Intensity Focused Ultrasound Technology In consideration for the May 2010 sale of its rights to the high intensity focused ultrasound technology to USHIFU LLC, now SonaCare Medical, LLC (“SonaCare”), Misonix will receive up to approximately $ 5.8 7 3 5 5.8 st 1,254,788 For the three months ended For the nine months ended March 31, March 31, 2016 2015 2016 2015 Revenues $ - $ 4,976 $ - $ 14,926 Income from discontinued operations, before tax $ - $ 4,976 $ - $ 14,926 Gain on sale of discontinued operations 250,000 250,000 250,000 250,000 Income tax benefit/(expense) (85,000) (5,280) (85,000) (5,280) Net income from discontinued operations, net of tax $ 165,000 $ 249,696 $ 165,000 $ 259,646 Accounts receivable, principally trade, are generally due within 30 90

(Loss)_Income Per Share of Comm

(Loss)/Income Per Share of Common Stock	9 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	2. ( Loss)/Income Per Share of Common Stock Basic income (loss) per common share (“basic EPS”) is computed by dividing income (loss) by the weighted average number of common shares outstanding for the period. Diluted income (loss) per common share (“diluted EPS”) is computed by dividing income (loss) by the weighted average number of common shares and dilutive common share equivalents outstanding (consisting of outstanding common stock options) for the period. For the nine months ended For the three months ended March 31, March 31, 2016 2015 2016 2015 Basic shares 7,772,761 7,533,608 7,789,174 7,675,520 Dilutive effect of stock options - 509,368 - 638,154 Diluted shares 7,772,761 8,042,976 7,789,174 8,313,674 Excluded from the calculations of diluted EPS are options to purchase 92,000 Diluted EPS for the three and nine months ended March 31, 2016 presented is the same as basic EPS as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. For this reason, excluded from the calculation of diluted EPS are outstanding options to purchase 1,813,599

Comprehensive (Loss)_Income

Comprehensive (Loss)/Income	9 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Comprehensive Income (Loss) Note [Text Block]	3. Comprehensive (Loss)/Income Total comprehensive (loss)/income was $ (724,400) 1,738,734 (679,244) 454,340

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	4. Stock-Based Compensation Stock options are granted with exercise prices not less than the fair market value of our common stock at the time of the grant, with an exercise term (as determined by the committee administering the applicable option plan (the “Committee”)) 320,000 369,000 Stock-based compensation expense for the nine month periods ended March 31, 2016 and 2015 was approximately $ 1,175,000 763,000 446,000 279,000 3,759,000 2.6 Shares may be acquired by various methods. They may be acquired by (a) cash or certified check, (b) with previously acquired shares of common stock having an aggregate fair market value, on the date of exercise, equal to the aggregate exercise price of all options being exercised (provided that such shares were not acquired less than six (6) months prior to such exercise date), (c) in certain circumstances by surrendering options to acquire shares of common stock in in exchange for the number of shares of common stock equal to the product of the number of shares of common stock as to which the options is being exercised multiplied by a fraction, the numerator of which is the fair market value of the common stock less the exercise price of the option and the denominator of which is such fair market value. Cash in the amount of $ 151,247 13,867 62,137 1,000 280 For the nine months ended March 31, 2016 2015 Risk-free interest rate 1.4 % 0.97 % Expected option life in years 4.9 6.5 Expected stock price volatility 58.87 % 73.46 % Expected dividend yield 0 % 0 % Weighted-average fair value of options granted $ 4.23 $ 5.4 The expected option term is based upon the number of years the Company estimates the option will be outstanding based on historical exercises and terminations. The expected volatility for the expected life of the options is determined using historical price changes of the Company’s stock over a period equal to that of the expected life of the options. The risk free rate is based upon the U.S. Treasury yield in effect at the time of the grant. The expected dividend yield is 0 Options Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Life Intrinsic Shares Price ($) (years) Value (a) Outstanding as of June 30, 2015 1,557,616 5.80 Granted 320,000 8.80 Exercised (62,737) 5.46 $ 222,114 Forfeited (1,000) 9.38 Expired (280) 5.82 Outstanding as of March 31, 2016 1,813,599 6.34 $ 2,508,984 Exercisable and vested at March 31, 2016 829,599 6.9 $ 2,172,388 Available for grant as of March 31, 2016 480,600 5.9 (a) Intrinsic value for purposes of this table represents the amount by which the fair value of the underlying stock, based on the respective market prices at March 31, 2016 or if exercised, the exercise dates, exceeds the exercise prices of the respective options.

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	5. Income Taxes For the nine months ended March 31, 2016, the Company recorded an income tax benefit from continuing operations of $ 237,000 27 4 The Company, as of June 30, 2015, reversed the valuation allowance against its deferred tax assets based on its consideration of all available positive and negative evidence including achieving cumulative profitable operation performance over the past three years and a positive outlook for taxable income for the future. The results of the first nine months of fiscal 2016 do not alter the strong positive evidence. As a result, the Company recorded an income tax benefit for the first nine months of fiscal 2016 at the annual projected tax rate of 27%. As of March 31, 2016 and June 30, 2015, the Company has no material unrecognized tax benefits or accrued interest and penalties.

Inventories

Inventories	9 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	6. Inventories Inventories are summarized as follows: March 31, June 30, 2016 2015 Raw material $ 2,778,910 $ 2,096,443 Work-in-process 883,335 660,267 Finished goods 3,458,675 2,536,699 7,120,920 5,293,409 Less valuation reserve 1,211,643 990,246 $ 5,909,277 $ 4,303,163

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Mar. 31, 2016
Payables and Accruals [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	7. Accrued Expenses and Other Current Liabilities The following summarizes accrued expenses and other current liabilities: March 31, June 30, 2016 2016 Accrued payroll and vacation $ 548,368 $ 507,172 Accrued bonuses 225,000 300,000 Accrued commissions 240,000 321,440 Accrued professional and legal fees 97,630 97,880 Income tax payable - 71,302 Deferred income 31,087 40,911 Other 126,676 193,389 $ 1,268,761 $ 1,532,094

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	8. Commitments and Contingencies The Company and its subsidiaries are from time to time involved in ordinary and routine litigation. Management presently believes that the ultimate outcome of these proceedings, individually or in the aggregate, will not have a material adverse effect on the Company’s financial position, cash flows or result of operations. Nevertheless, litigation is subject to inherent uncertainties and an unfavorable ruling could occur. An unfavorable ruling could include money damages and in such event, could result in a material adverse impact on the Company’s results of operations in the year in which the ruling occurs.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	9. Fair Value of Financial Instruments We follow a three-level fair value hierarchy that prioritizes the inputs to measure fair value. This hierarchy requires entities to maximize the use of “observable inputs” and minimize the use of “unobservable inputs.” The three levels of inputs used to measure fair value are as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect assumptions that market participants would use in pricing an asset or liability. The following is a summary of the carrying amounts and estimated fair values of our financial instruments at March 31, 2016 and June 30, 2015: March 31, 2016 Carrying Amount Fair Value Cash and cash equivalents $ 8,357,090 $ 8,357,090 Trade accounts receivable 4,101,558 4,101,558 Trade accounts payable 1,542,547 1,542,547 June 30, 2015 Carrying Amount Fair Value Cash and cash equivalents $ 9,623,749 $ 9,623,749 Trade accounts receivable 4,481,247 4,481,247 Trade accounts payable 1,147,414 1,147,414 The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Cash and cash equivalents The carrying amount approximates fair value because of the short maturity of those instruments. Trade Accounts Receivable The carrying amount of trade receivables reflects net recovery value and approximates fair value because of their short outstanding terms. Trade Accounts Payable The carrying amount of trade payables approximates fair value because of their short outstanding terms. Non-financial assets and liabilities Certain non-financial assets and liabilities, principally goodwill, are measured at fair value on a non-recurring basis; that is the assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, such as when evidence of impairment exists. At March 31, 2016, no fair value adjustments or material fair value measurements were required for non-financial assets or liabilities.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	10. Goodwill and Intangible Assets Goodwill is not amortized. We review goodwill for impairment annually and whenever events or changes indicate that the carrying value of an asset may not be recoverable. These events or circumstances could include a significant change in the business climate, legal factors, operating performance indicators, competition, or sale or disposition of significant assets or product lines. Application of these impairment tests requires significant judgments, including estimation of cash flows, which is dependent on internal forecasts, estimation of the long-term rate of growth for our business, estimation of the useful life over which cash flows will occur and determination of our weighted-average cost of capital. We primarily use a discounted cash flow model in determining fair value, which consists of level three inputs. Changes in the projected cash flows and discount rate estimates and assumptions underlying the valuation of goodwill could materially affect the determination of fair value at acquisition or during subsequent periods when tested for impairment. The Company determined that there were no indicators that the recorded goodwill was impaired as of March 31, 2016, which required further testing. On February 1, 2015, the Company entered into an agreement with Aesculap, Inc. (“Aesculap”) to buy back certain accounts that were protected under the termination agreement entered into by Misonix and Aesculap on December 31, 2012 (the “Termination Agreement”). The Termination Agreement allowed Aesculap to continue to sell and service key accounts which were defined as accounts maintaining a specified revenue level on average over a three year term which expired on March 31, 2016. The buy back amount total was $ 328,136 28,867 The cost of acquiring or processing patents is capitalized. This amount is being amortized using the straight-line method over the estimated useful lives of the underlying assets, which is approximately 17 567,672 566,028 861,448 791,551 23,000 22,000 70,000 127,000 Net customer relationships reported in intangible and other assets totaled $ 0 40,000 800,000 760,000 0 40,000 40,000 120,000 Net reacquired contractual rights from Aesculap reported in intangible and other assets totaled $ 0 178,983 328,136 149,153 0 59,661 178,983 59,661 Patents 2016 $ 23,445 2017 89,241 2018 85,012 2019 76,705 2020 53,276 Thereafter 239,993 $ 567,672

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Mar. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	11. Recent Accounting Pronouncements In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements (Topic 205)” and “Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” The amendments in the ASU change the criteria for reporting discontinued operations while enhancing related disclosures. The amendments in the ASU are effective in the first quarter of 2015. The adoption of ASU 2014-08 did not have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)." The new revenue recognition standard as amended provides a five-step analysis to determine when and how revenue is recognized. The standard requires that a company recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU is effective for annual periods beginning after December 15, 2017 (public entities) and will be applied retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is currently evaluating the impact of the pending adoption of ASU 2014-09 on its consolidated financial statements. In August 2014, the FASB issued guidance on management's responsibility in evaluating whether there is substantial doubt about a company's ability to continue as a going concern and related footnote disclosures. Management will be required to evaluate, at each reporting period, whether there are conditions or events that raise substantial doubt about a company's ability to continue as a going concern within one year from the date the financial statements are issued. This guidance is effective prospectively for annual and interim reporting periods beginning in 2017; implementation of this guidance is not expected to have a material effect on the Company’s financial condition or results of operations. In July 2015, the FASB issued ASU “Inventory (Topic 330).” The amendments in this update are effective for fiscal years beginning after December 2016. The adoption of Inventory (Topic 330) will not have a material impact on the Company’s consolidated financial statements. In November 2015, the FASB issued ASU 2015-17 “Balance Sheet Classification of deferred Taxes (Topic740)”. The amendments in this ASU require deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments eliminate the guidance in Topic 740 that requires an entity to separate deferred tax liabilities and assets into a current amount and a noncurrent amount in a classified statement of financial position. The amendments in this update have no effect on entities that do not present a classified statement of financial position. The Company adopted ASU 2015-17 as of March 31, 2016 on a prospective basis. This means that the balance sheet for the period ended June 30, 2015 will be shown as previously reported. The effect is totally on the balance sheet and resulted in a reduction in current assets of $ 2,118,716 16,170,213 In February 2016, the FASB issued guidance on lease accounting requiring lessees to recognize a right-of-use asset and a lease liability for long-term leases. The liability will be equal to the present value of lease payments. This guidance requires must be applied using a modified retrospective transition approach to all annual and interim periods presented and is effective for the company beginning in fiscal 2019. We are currently evaluating the impact of the guidance on the Company's financial condition, results of operations and related disclosures. In March 2016, the FASB issued guidance on simplifying several aspects of accounting for share-based payment award transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This guidance requires a mix of prospective, modified retrospective, and retrospective transition to all annual and interim periods presented and is effective for the Company beginning in fiscal 2018; implementation of this guidance is not expected to have a material effect on the Company’s financial condition or results of operations.

Licensing Agreements for Medica

Licensing Agreements for Medical Technology	9 Months Ended
	Mar. 31, 2016
Licensing Agreements For Medical Technology [Abstract]
Licensing Agreements For Medical Technology [Text Block]	12. Licensing Agreements for Medical Technology In October 1996, the Company entered into a License Agreement (the "USS License") with United States Surgical (now, Medtronic Minimally Invasive Therapies (“MMIT”)) for a twenty-year period, expiring October 2016, covering the further development and commercial exploitation of the Company's medical technology relating to laparoscopic products, which uses high frequency sound waves to coagulate and divide tissue for both open and laparoscopic surgery. The USS License gives Covidien exclusive worldwide marketing and sales rights for this technology. Under the USS License, the Company has received $ 475,000 2,930,000 3,140,000

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	Organization and Business Misonix is a surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products worldwide for spine surgery, skull-based surgery, neurosurgery, wound and burn debridement, cosmetic surgery, laparoscopic surgery and other surgical applications. Three months ended March 31, Nine months ended ended March 31, 2016 2015 2016 2015 United States $ 3,054,817 $ 2,607,023 $ 9,324,928 $ 7,709,102 Australia 82,985 161,858 203,518 313,221 Europe 814,962 866,726 2,286,245 2,590,616 Asia 677,692 1,016,518 2,246,285 2,759,121 Canada and Mexico 208,538 272,700 620,086 513,916 South America 207,137 96,087 682,688 615,295 South Africa 213,525 64,535 349,490 245,151 Middle East 166,491 229,350 1,003,247 708,720 $ 5,426,147 $ 5,314,797 $ 16,716,487 $ 15,455,142
Discontinued Operations, Policy [Policy Text Block]	Discontinued Operations High Intensity Focused Ultrasound Technology In consideration for the May 2010 sale of its rights to the high intensity focused ultrasound technology to USHIFU LLC, now SonaCare Medical, LLC (“SonaCare”), Misonix will receive up to approximately $ 5.8 7 3 5 5.8 st 1,254,788 For the three months ended For the nine months ended March 31, March 31, 2016 2015 2016 2015 Revenues $ - $ 4,976 $ - $ 14,926 Income from discontinued operations, before tax $ - $ 4,976 $ - $ 14,926 Gain on sale of discontinued operations 250,000 250,000 250,000 250,000 Income tax benefit/(expense) (85,000) (5,280) (85,000) (5,280) Net income from discontinued operations, net of tax $ 165,000 $ 249,696 $ 165,000 $ 259,646
Receivables, Policy [Policy Text Block]	Accounts Receivable Accounts receivable, principally trade, are generally due within 30 90

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	The Company’s revenues are generated from various regions throughout the world. Sales by the Company outside the United States are made primarily through distributors. Sales made in the United States are made primarily through independent representative agents. The following is an analysis of net sales from continuing operations by geographic region: Three months ended March 31, Nine months ended ended March 31, 2016 2015 2016 2015 United States $ 3,054,817 $ 2,607,023 $ 9,324,928 $ 7,709,102 Australia 82,985 161,858 203,518 313,221 Europe 814,962 866,726 2,286,245 2,590,616 Asia 677,692 1,016,518 2,246,285 2,759,121 Canada and Mexico 208,538 272,700 620,086 513,916 South America 207,137 96,087 682,688 615,295 South Africa 213,525 64,535 349,490 245,151 Middle East 166,491 229,350 1,003,247 708,720 $ 5,426,147 $ 5,314,797 $ 16,716,487 $ 15,455,142
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	Results of Discontinued Operations For the three months ended For the nine months ended March 31, March 31, 2016 2015 2016 2015 Revenues $ - $ 4,976 $ - $ 14,926 Income from discontinued operations, before tax $ - $ 4,976 $ - $ 14,926 Gain on sale of discontinued operations 250,000 250,000 250,000 250,000 Income tax benefit/(expense) (85,000) (5,280) (85,000) (5,280) Net income from discontinued operations, net of tax $ 165,000 $ 249,696 $ 165,000 $ 259,646

(Loss)_Income Per Share of Co23

(Loss)/Income Per Share of Common Stock (Tables)	9 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	The number of weighted average common shares used in the calculation of basic EPS and diluted EPS were as follows: For the nine months ended For the three months ended March 31, March 31, 2016 2015 2016 2015 Basic shares 7,772,761 7,533,608 7,789,174 7,675,520 Dilutive effect of stock options - 509,368 - 638,154 Diluted shares 7,772,761 8,042,976 7,789,174 8,313,674

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The fair values of the options granted during the nine months ended March 31, 2016 and 2015 were primarily estimated on the date of the grant using the Black-Scholes option-pricing model on the basis of the following weighted average assumptions during the respective periods: For the nine months ended March 31, 2016 2015 Risk-free interest rate 1.4 % 0.97 % Expected option life in years 4.9 6.5 Expected stock price volatility 58.87 % 73.46 % Expected dividend yield 0 % 0 % Weighted-average fair value of options granted $ 4.23 $ 5.4
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Changes in outstanding stock options during the nine months ended March 31, 2016 were as follows: Options Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Life Intrinsic Shares Price ($) (years) Value (a) Outstanding as of June 30, 2015 1,557,616 5.80 Granted 320,000 8.80 Exercised (62,737) 5.46 $ 222,114 Forfeited (1,000) 9.38 Expired (280) 5.82 Outstanding as of March 31, 2016 1,813,599 6.34 $ 2,508,984 Exercisable and vested at March 31, 2016 829,599 6.9 $ 2,172,388 Available for grant as of March 31, 2016 480,600 5.9 (a) Intrinsic value for purposes of this table represents the amount by which the fair value of the underlying stock, based on the respective market prices at March 31, 2016 or if exercised, the exercise dates, exceeds the exercise prices of the respective options.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories are summarized as follows: March 31, June 30, 2016 2015 Raw material $ 2,778,910 $ 2,096,443 Work-in-process 883,335 660,267 Finished goods 3,458,675 2,536,699 7,120,920 5,293,409 Less valuation reserve 1,211,643 990,246 $ 5,909,277 $ 4,303,163

Accrued Expenses and Other Cu26

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Mar. 31, 2016
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities [Table Text Block]	The following summarizes accrued expenses and other current liabilities: March 31, June 30, 2016 2016 Accrued payroll and vacation $ 548,368 $ 507,172 Accrued bonuses 225,000 300,000 Accrued commissions 240,000 321,440 Accrued professional and legal fees 97,630 97,880 Income tax payable - 71,302 Deferred income 31,087 40,911 Other 126,676 193,389 $ 1,268,761 $ 1,532,094

Fair Value of Financial Instr27

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping [Table Text Block]	The following is a summary of the carrying amounts and estimated fair values of our financial instruments at March 31, 2016 and June 30, 2015: March 31, 2016 Carrying Amount Fair Value Cash and cash equivalents $ 8,357,090 $ 8,357,090 Trade accounts receivable 4,101,558 4,101,558 Trade accounts payable 1,542,547 1,542,547 June 30, 2015 Carrying Amount Fair Value Cash and cash equivalents $ 9,623,749 $ 9,623,749 Trade accounts receivable 4,481,247 4,481,247 Trade accounts payable 1,147,414 1,147,414

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Patents 2016 $ 23,445 2017 89,241 2018 85,012 2019 76,705 2020 53,276 Thereafter 239,993 $ 567,672

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Revenue from External Customer [Line Items]
Net sales	$ 5,426,147	$ 5,314,797	$ 16,716,487	$ 15,455,142
UNITED STATES
Revenue from External Customer [Line Items]
Net sales	3,054,817	2,607,023	9,324,928	7,709,102
AUSTRALIA
Revenue from External Customer [Line Items]
Net sales	82,985	161,858	203,518	313,221
SOUTH AFRICA
Revenue from External Customer [Line Items]
Net sales	213,525	64,535	349,490	245,151
EUROPE
Revenue from External Customer [Line Items]
Net sales	814,962	866,726	2,286,245	2,590,616
ASIA
Revenue from External Customer [Line Items]
Net sales	677,692	1,016,518	2,246,285	2,759,121
CANADA AND MEXICO
Revenue from External Customer [Line Items]
Net sales	208,538	272,700	620,086	513,916
SOUTH AMERICA
Revenue from External Customer [Line Items]
Net sales	207,137	96,087	682,688	615,295
MIDDLE EAST
Revenue from External Customer [Line Items]
Net sales	$ 166,491	$ 229,350	$ 1,003,247	$ 708,720

Basis of Presentation (Details

Basis of Presentation (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	$ 0	$ 4,976	$ 0	$ 14,926
Income from discontinued operations, before tax	0	4,976	0	14,926
Gain on sale of discontinued operations	250,000	250,000	250,000	250,000
Income tax benefit/(expense)	(85,000)	(5,280)	(85,000)	(5,280)
Net income from discontinued operations, net of tax	$ 165,000	$ 249,696	$ 165,000	$ 259,646

Basis of Presentation (Detail31

Basis of Presentation (Details Textual) - USD ($)	1 Months Ended	9 Months Ended
	May. 31, 2010	Mar. 31, 2016	Jun. 30, 2015
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies [Line Items]
Payment Sale Of Intangible Assets Description	 Commencing 90 days after each December 31st and beginning December 31, 2011 the payments will be the greater of (a) $250,000 or (b) 7% of gross revenues received up to the time the Company has received the first $3 million and thereafter 5% of gross revenues up to the $5.8 million.
Working Capital			$ 16,170,213
Reduction in current assets		$ 0	$ 2,118,716
Minimum [Member]
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies [Line Items]
Accounts Receivable Due Number Of Days		30 days
Maximum [Member]
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies [Line Items]
Accounts Receivable Due Number Of Days		90 days
High Intensity Focused Ultrasound Technology [Member]
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies [Line Items]
Proceeds from Sales of Intangible Assets	$ 5,800,000
Sale of Intangible Assets Percentage of Gross Revenue Received as Earn Out Up to First Benchmark	7.00%
Proceeds from Sale of Intangible Assets First Benchmark	$ 3,000,000
Sale of Intangible Assets Percentage of Gross Revenue Received as Earn Out Up to Second Benchmark	5.00%
Proceeds from Sale of Intangible Assets Second Benchmark	$ 5,800,000
Payment Sale Of Intangible Assets		$ 1,254,788
Fibra Sonics Ny Inc [Member]
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent		100.00%

(Loss)_Income Per Share of Co32

(Loss)/Income Per Share of Common Stock (Details) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Basic shares	7,789,174	7,675,520	7,772,761	7,533,608
Dilutive effect of stock options	0	638,154	0	509,368
Diluted shares	7,789,174	8,313,674	7,772,761	8,042,976

(Loss)_Income Per Share of Co33

(Loss)/Income Per Share of Common Stock (Details Textual) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,813,599	92,000	1,813,599	92,000

Comprehensive (Loss)_Income (De

Comprehensive (Loss)/Income (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ (679,244)	$ 454,340	$ (724,400)	$ 1,738,734

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - $ / shares	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.40%	0.97%
Expected option life in years	4 years 10 months 24 days	6 years 6 months
Expected stock price volatility	58.87%	73.46%
Expected dividend yield	0.00%	0.00%
Weighted-average fair value of options granted	$ 4.23	$ 5.4

Stock-Based Compensation (Det36

Stock-Based Compensation (Details 1) - Employee Stock Option [Member]	9 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding at beginning of period	1,557,616
Number of Shares, Granted	320,000
Number of Shares, Exercised	(62,737)
Number of Shares, Forfeited	(1,000)
Number of Shares, Expired	(280)
Number of Shares, Outstanding at end of period	1,813,599
Number of Shares, Exercisable and vested	829,599
Number of shares, Available for grant	480,600
Weighted Average Exercise Price, Outstanding at beginning of period | $ / shares	$ 5.80
Weighted Average Exercise Price, Granted | $ / shares	8.80
Weighted Average Exercise Price, Exercised | $ / shares	5.46
Weighted Average Exercise Price, Forfeited | $ / shares	9.38
Weighted Average Exercise Price, Expired | $ / shares	5.82
Weighted Average Exercise Price, Outstanding at end of period | $ / shares	$ 6.34
Weighte Average Remaining Contractual Life, Outstanding (in years)	5 years 10 months 24 days
Weighte Average Remaining Contractual Life, Exercisable and vested (in years)	6 years 10 months 24 days
Aggregate Intrinsic Value, Exercised (in dollars) | $	$ 222,114	[1]
Aggregate Intrinsic Value, Outstanding (in dollars) | $	2,508,984	[1]
Aggregate Intrinsic Value, Exercisable and vested (in dollars) | $	$ 2,172,388	[1]
[1]	Intrinsic value for purposes of this table represents the amount by which the fair value of the underlying stock, based on the respective market prices at March 31, 2016 or if exercised, the exercise dates, exceeds the exercise prices of the respective options.

Stock-Based Compensation (Det37

Stock-Based Compensation (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award			not to exceed 10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period			320,000	369,000
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options	$ 3,759,000		$ 3,759,000
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition 1			2 years 7 months 6 days
Allocated Share-based Compensation Expense	$ 446,000	$ 279,000	$ 1,175,000	$ 763,000
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate			0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options			$ 151,247
Treasury Stock, Shares, Acquired			13,867
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercises In Period			62,137
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares			1,000
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Expirations In Period			280

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income Taxes [Line Items]
Income Tax Expense (Benefit)	$ (15,000)	$ 8,406	$ (322,000)	$ 56,223
Effective Income Tax Rate Reconciliation, Percent			27.00%	4.00%

Inventories (Details)

Inventories (Details) - USD ($)	Mar. 31, 2016	Jun. 30, 2015
Inventory [Line Items]
Raw material	$ 2,778,910	$ 2,096,443
Work-in-process	883,335	660,267
Finished goods	3,458,675	2,536,699
Inventory, Gross	7,120,920	5,293,409
Less valuation reserve	1,211,643	990,246
Inventory, Net, Total	$ 5,909,277	$ 4,303,163

Accrued Expenses and Other Cu40

Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Mar. 31, 2016	Jun. 30, 2015
Accrued Expenses and Other Current Liabilities [Line Items]
Accrued payroll and vacation	$ 548,368	$ 507,172
Accrued bonuses	225,000	300,000
Accrued commissions	240,000	321,440
Accrued professional and legal fees	97,630	97,880
Income tax payable	0	71,302
Deferred income	31,087	40,911
Other	126,676	193,389
Accrued Expenses and Other Current Liabilities	$ 1,268,761	$ 1,532,094

Fair Value of Financial Instr41

Fair Value of Financial Instruments (Details) - USD ($)	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, Carrying Amount	$ 8,357,090	$ 9,623,749	$ 8,909,275	$ 7,039,938
Trade accounts receivable, Carrying Amount	4,101,558	4,481,247
Trade accounts payable, Carrying Amount	1,542,547	1,147,414
Cash and cash equivalents, Fair Value	8,357,090	9,623,749
Trade accounts receivable, Fair Value	4,101,558	4,481,247
Trade accounts payable, Fair Value	$ 1,542,547	$ 1,147,414

Goodwill and Intangible Asset42

Goodwill and Intangible Assets (Details) - Patents [Member] - USD ($)	Mar. 31, 2016	Jun. 30, 2015
2,016	$ 23,445
2,017	89,241
2,018	85,012
2,019	76,705
2,020	53,276
Thereafter	239,993
Finite-Lived Intangible Assets, Future Amortization Expense	$ 567,672	$ 566,028

Goodwill and Intangible Asset43

Goodwill and Intangible Assets (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2015	Mar. 01, 2015	Feb. 01, 2015
Finite-Lived Intangible Asset, Useful Life			17 years
Finite-Lived Intangible Assets, Accumulated Amortization	$ 861,448		$ 861,448		$ 791,551
Buy Back Amount						$ 28,867	$ 328,136
Patents [Member]
Finite-Lived Intangible Assets, Net	567,672		567,672		566,028
Finite-Lived Intangible Assets, Accumulated Amortization	861,448		861,448		791,551
Amortization of Intangible Assets	23,000	$ 22,000	70,000	$ 127,000
Customer Relationships [Member]
Finite-Lived Intangible Assets, Net	0		0		40,000
Finite-Lived Intangible Assets, Accumulated Amortization	800,000		800,000		760,000
Amortization of Intangible Assets	0	40,000	40,000	120,000
Contractual Rights [Member]
Finite-Lived Intangible Assets, Net	0		0		178,983
Finite-Lived Intangible Assets, Accumulated Amortization	328,136		328,136		$ 149,153
Amortization of Intangible Assets	$ 0	$ 59,661	$ 178,983	$ 59,661

Recent Accounting Pronounceme44

Recent Accounting Pronouncements (Details Textual) - USD ($)	Mar. 31, 2016	Jun. 30, 2015
Recent Accounting Pronouncements [Line Items]
Reduction in current assets	$ 0	$ 2,118,716
Working Capital		$ 16,170,213

Licensing Agreements for Medi45

Licensing Agreements for Medical Technology (Details Textual) - USD ($)	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Proceeds from License Fees Received	$ 475,000
Proceeds from Royalties Received	$ 2,930,000	$ 3,140,000
License Agreement Expiration Period	2016-10