Misonix (MSON) 10-Q 2 May 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2017	Apr. 28, 2017
Document And Entity Information
Entity Registrant Name	MISONIX INC
Entity Central Index Key	880,432
Document Type	10-Q
Trading Symbol	MSON
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		9,023,354
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Current assets:
Cash and cash equivalents	$ 11,856,503	$ 9,049,327
Accounts receivable, less allowance for doubtful accounts of $96,868 and $96,868, respectively	4,357,156	3,869,427
Inventories, net	4,909,415	5,822,935
Prepaid expenses and other current assets	664,249	530,564
Total current assets	21,787,323	19,272,253
Property, plant and equipment, net of accumulated amortization and depreciation of $7,610,152 and $6,976,282, respectively	3,413,116	2,492,815
Patents, net of accumulated amortization of $965,996 and $885,394, respectively	710,070	604,916
Goodwill	1,701,094	1,701,094
Intangible and other assets	300,341	266,603
Deferred income tax	3,581,551	3,394,690
Total assets	31,493,495	27,732,371
Current liabilities:
Accounts payable	1,433,608	1,402,797
Accrued expenses and other current liabilities	1,994,387	1,887,337
Total current liabilities	3,427,995	3,290,134
Deferred lease liability	9,331	9,262
Deferred income	17,737	31,685
Total liabilities	3,455,063	3,331,081
Commitments and contingencies (Footnote 9)
Shareholders' equity:
Common stock, .01 par value-shares authorized 20,000,000; 9,162,203 and 7,948,234 shares issued and 9,023,354 and 7,809,385 outstanding in each period, respectively	91,622	79,482
Additional paid-in capital	37,410,034	32,502,521
Accumulated deficit	(8,363,872)	(7,081,361)
Treasury stock, at cost, 138,849 shares in each period	(1,099,352)	(1,099,352)
Total shareholders' equity	28,038,432	24,401,290
Total liabilities and shareholders' equity	$ 31,493,495	$ 27,732,371

Consolidated Balance Sheets (u3

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts (in dollars)	$ 96,868	$ 96,868
Accumulated amortization and depreciation (in dollars)	7,610,152	6,976,282
Patents, Accumulated amortization (in dollars)	$ 965,996	$ 885,394
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	9,162,203	7,948,234
Common stock, shares outstanding	9,023,354	7,809,385
Treasury stock, shares	138,849	138,849

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Net sales	$ 7,177,763	$ 5,426,147	$ 19,379,768	$ 16,716,487
Cost of goods sold, exclusive of depreciation from consigned product	2,112,099	1,859,749	5,842,778	5,578,349
Gross profit	5,065,664	3,566,398	13,536,990	11,138,138
Operating expenses:
Selling expenses	3,587,859	3,319,385	10,184,680	8,967,352
General and administrative expenses	2,484,962	1,515,559	6,504,202	4,994,569
Research and development expenses	465,863	548,278	1,398,311	1,340,339
Total operating expenses	6,538,684	5,383,222	18,087,193	15,302,260
Loss from operations	(1,473,020)	(1,816,824)	(4,550,203)	(4,164,122)
Other income (expense):
Interest income	18	19	56	63
Royalty income and license fees	953,235	963,025	2,846,351	2,969,557
Other	(6,940)	(5,464)	(15,576)	(16,898)
Total other income	946,313	957,580	2,830,831	2,952,722
Loss from operations before income taxes	(526,707)	(859,244)	(1,719,372)	(1,211,400)
Income tax benefit	(219,000)	(15,000)	(275,000)	(322,000)
Loss from continuing operations	(307,707)	(844,244)	(1,444,372)	(889,400)
Discontinued operations:
Income from discontinued operations net of tax expense of $88,139 and $85,000 respectively	161,861	165,000	161,861	165,000
Net income from discontinied operations	161,861	165,000	161,861	165,000
Net loss from total operations	$ (145,846)	$ (679,244)	$ (1,282,511)	$ (724,400)
Net loss per share - Basic continuing Operations (in dollars per share)	$ (0.04)	$ (0.11)	$ (0.17)	$ (0.11)
Net loss per share - Diluted continuing operations (in dollars per share)	(0.04)	(0.11)	(0.17)	(0.11)
Net income per share - Basic discontinued operations (in dollars per share)	0.02	0.02	0.02	0.02
Net income per share - Diluted discontinued operations (in dollars per share)	0.02	0.02	0.02	0.02
Net loss per share - Basic (in dollars per share)	(0.02)	(0.09)	(0.16)	(0.09)
Net loss per share - Diluted (in dollars per share)	$ (0.02)	$ (0.09)	$ (0.16)	$ (0.09)
Weighted average shares - Basic (in shares)	8,613,354	7,789,174	8,263,343	7,772,761
Weighted average shares - Diluted (in shares)	8,613,354	7,789,174	8,263,343	7,772,761

Consolidated Statements of Ope5

Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Income from discontinued operations, tax expense	$ 88,139	$ 85,000	$ 88,139	$ 85,000

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity (Unaudited) - 9 months ended Mar. 31, 2017 - USD ($)	Common Stock [Member]	Treasury Stock [Member]	Additional paid-in capital [Member]	Accumulated deficit [Member]	Total
Balance at beginning at Jun. 30, 2016	$ 79,482	$ (1,099,352)	$ 32,502,521	$ (7,081,361)	$ 24,401,290
Balance at beginning (in shares) at Jun. 30, 2016	7,948,234	(138,849)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss				(1,282,511)	(1,282,511)
Sale of common stock	$ 7,615		3,992,385		4,000,000
Sale of common stock (in shares)	761,469
Issuance of restricted stock	$ 4,000		(4,000)
Issuance of restricted stock (in shares)	400,000
Proceeds from exercise of options	$ 525		302,922		$ 303,447
Proceeds from exercise of options (in shares)	52,500				(52,500)
Stock-based compensation			616,206		$ 616,206
Balance at end at Mar. 31, 2017	$ 91,622	$ (1,099,352)	$ 37,410,034	$ (8,363,872)	$ 28,038,432
Balance at end (in shares) at Mar. 31, 2017	9,162,203	(138,849)

Consolidated Statement of Shar7

Consolidated Statement of Shareholders' Equity (Parenthetical) - $ / shares	Mar. 31, 2017	Jun. 30, 2016
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities
Net loss from continuing operations	$ (1,444,372)	$ (889,400)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization and other non-cash items	763,434	1,271,864
Deferred income tax benefit	(186,861)	(260,000)
Stock-based compensation	616,206	1,175,165
Deferred income	(13,948)	(20,852)
Deferred lease liability	69	6,947
Changes in operating assets and liabilities:
Accounts receivable	(487,729)	379,689
Inventories	(449,986)	(2,623,620)
Prepaid expenses and other assets	(167,423)	(282,221)
Accounts payable and accrued expenses	137,861	141,624
Net cash used in operating activities	(1,232,749)	(1,100,804)
Investing activities
Acquisition of property, plant and equipment, net of disposals	(239,627)	(410,561)
Acquisition of patents	(185,756)	(71,541)
Net cash used in investing activities	(425,383)	(482,102)
Financing activities
Proceeds from the sale of common stock	4,000,000
Proceeds from exercise of stock options	303,447	151,247
Net cash provided by financing activities	4,303,447	151,247
Cash flows from discontinued operations
Net cash provided by investing activities	161,861	165,000
Net cash provided by discontinued operations	161,861	165,000
Net increase / (decrease) in cash and cash equivalents	2,807,176	(1,266,659)
Cash and cash equivalents at beginning of period	9,049,327	9,623,749
Cash and cash equivalents at end of period	11,856,503	8,357,090
Supplemental disclosure of cash flow information:
Cash paid for income taxes	9,866	141,120
Capitalization of consigned product	$ 1,363,506	$ 1,017,506

Basis of Presentation, Organiza

Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies	1. Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies Basis of Presentation These consolidated financial statements of Misonix, Inc. (“Misonix” or the “Company”) include the accounts of Misonix and its 100% owned subsidiaries. All significant intercompany balances and transactions have been eliminated. The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all the information and footnotes required by U.S. GAAP for complete financial statements. As such, they should be read with reference to the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2016, which provides a more complete explanation of the Company’s accounting policies, financial position, operating results, business properties and other matters. In the opinion of management, these financial statements reflect all adjustments considered necessary for a fair statement of interim results. Reclassifications Certain expenses on the Statement of Operations have been reclassified to be consistent with the current year presentation. Historically, the Company had recorded stock compensation expense and bonus expense predominantly within general and administrative expenses. The Company has reclassified the prior years’ presentation to allocate certain of these costs to cost of goods sold, selling expenses and research and development expenses, which is consistent with the classification being used in fiscal 2017. This reclassification had no impact on the Company’s presentation of operating income (loss) and the gross profit impact was not material. Organization and Business Misonix designs, manufactures, develops and markets therapeutic ultrasonic devices. These products are used for precise bone sculpting, removal of soft tumors, and tissue debridement in the fields of orthopedic surgery, plastic surgery, neurosurgery, podiatry and vascular surgery. In the United States, the Company sells its products through a network of commissioned agents assisted by Company personnel. Outside of the United States, the Company sells to distributors who then resell the product to hospitals. The Company operates as one business segment. High Intensity Focused Ultrasound Technology The Company sold its rights to the high intensity focused ultrasound technology to SonaCare Medical, LLC (“SonaCare”) in May 2010. The Company may receive up to approximately $5.8 million in payment for the sale. SonaCare will pay the Company 7% of the gross revenues received from its sales of the (i) prostate product in Europe and (ii) kidney and liver products worldwide, until the Company has received payments of $3 million, and thereafter 5% of the gross revenues, up to an aggregate payment of $5.8 million, all subject to a minimum annual royalty of $250,000. Cumulative payments through March 31, 2017 were $1,504,788. Payments are generally received once per year, in the Company’s third fiscal quarter. For the three months ended March 31, 2017 and 2016, the Company received a royalty of $250,000 in each quarter, which has been recorded in discontinued operations. Major Customers and Concentration of Credit Risk Included in sales from continuing operations are sales to Cicel (Beijing) Science and Tech Co. Ltd. (“Cicel”) of $0 and $1,337,277 for the nine months ended March 31, 2017 and 2016, respectively, representing 8.0% of sales for 2016. There were no accounts receivable from Cicel at March 31, 2017 and June 30, 2016. The Company terminated its agreement with Cicel in the first quarter of fiscal 2017. For the three months ended March 31, 2017, one international distributor accounted for approximately 10% of sales for the quarter. In addition, this same customer had outstanding accounts receivable at March 31, 2017 of $369,463. Total royalties from Medtronic Minimally Invasive Therapies (“MMIT”) related to their sales of the Company’s ultrasonic cutting products, which use high frequency sound waves to coagulate and divide tissue for both open and laparoscopic surgery, were $2,838,487 and $2,930,240, for the nine months ended March 31, 2017 and 2016, respectively. Accounts receivable from MMIT royalties were approximately $953,000 and $973,000 at March 31, 2017 and June 30, 2016, respectively. The license agreement with MMIT expires in August 2017. At March 31, 2017 and June 30, 2016, the Company’s accounts receivable with customers outside the United States were approximately $762,000 and $768,000, respectively, none of which is over 90 days. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and judgments that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions are used for, but not limited to, establishing the allowance for doubtful accounts, valuation of inventory, depreciation, asset impairment evaluations and establishing deferred tax assets and related valuation allowances, and stock-based compensation. Actual results could differ from those estimates. Loss per Common Share Diluted EPS for the three and nine months ended March 31, 2017 and March 31, 2016 as presented is the same as basic EPS as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. Accordingly, excluded from the calculation of diluted EPS are outstanding options to purchase 145,750 and 512,750 shares of common stock for the three and nine months ended March 31, 2017, and options to purchase 844,250 and 486,000 shares of common stock for the three and nine months ended March 31, 2016. Recent Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment 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 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. The Company is currently in the early stages of evaluating this guidance to determine the impact it will have on its 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 Company adopted ASU 2015-17 as of March 31, 2016 on a prospective basis in order to simplify the balance sheet classification of deferred taxes. In May 2014, the FASB issued guidance on revenue from contracts with customers. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved, in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity's contracts with customers. This guidance permits the use of either the retrospective or cumulative effect transition method and is effective for the Company beginning in 2019; early adoption is permitted beginning in 2018. The Company has not yet selected a transition method and is currently evaluating the impact of the guidance on the Company's financial condition, results of operations and related disclosures. The FASB has also issued the following additional guidance clarifying certain issues on revenue from contracts with customers: Revenue from Contracts with Customers - Narrow-Scope Improvements and Practical Expedients and Revenue from Contracts with Customers - Identifying Performance Obligations and Licensing. The Company is currently in the early stages of evaluating this guidance to determine the impact it will have on its financial statements. There are no other recently issued accounting pronouncements that are expected to have a material effect on the Company's financial position, results of operations or cash flows.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	2. 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. At March 31, 2017 and June 30, 2016, all of our cash, trade accounts receivable and trade accounts payable were short term in nature, and their carrying amounts approximate fair value.

Inventories

Inventories	9 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	3. Inventories Inventories are summarized as follows: March 31, June 30, 2017 2016 Raw material $ 2,481,557 $ 3,102,175 Work-in-process 708,593 854,631 Finished goods 3,004,743 3,101,234 6,194,893 7,058,040 Less valuation reserve 1,285,478 1,235,105 $ 4,909,415 $ 5,822,935

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	4. Property, Plant and Equipment Depreciation and amortization of property, plant and equipment was $253,515 and $345,355 for the three months ended March 31, 2017 and 2016, respectively, and was $682,832 and $982,984 for the nine months ended March 31, 2017 and 2016, respectively. Inventory items included in property, plant and equipment are depreciated using the straight line method over estimated useful lives of 3 to 5 years. Depreciation of generators which are consigned to customers is expensed over a 5 year period during the nine months ended March 31, 2017 and is expensed over a 3 year period for the nine months ended March 31, 2016, and depreciation is charged to selling expenses. The impact of this change in accounting estimate was a reduction in expense of approximately $533,000 for the nine months ended March 31, 2017, compared to what the expense would have been without this change.

Goodwill

Goodwill	9 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	5. Goodwill 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 products. 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 the Company’s business, the useful lives over which cash flows will occur and determination of the Company’s weighted average cost of capital. The Company primarily utilizes the Company’s market capitalization and a discontinued cash flow model in determining the fair value which consists of Level 3 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 completed its annual goodwill impairment tests for fiscal 2016 and 2015 as of June 30 of each year. No impairment of goodwill was deemed to exist in fiscal 2016 and 2015.

Patents

Patents	9 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Patents	6. Patents The costs of acquiring or processing patents are capitalized at cost. These amounts are being amortized using the straight-line method over the estimated useful lives of the underlying assets, which is approximately 17 years. Patents totaled $710,070 and $604,916 at March 31, 2017 and June 30, 2016, respectively. Amortization expense for the three months ended March 31, 2017 and 2016 was $27,877and $23,090, respectively, and for the nine months ended March 31, 2017 and 2016 was $80,602 and $69,897, respectively. The following is a schedule of estimated future patent amortization expense as of March 31, 2017: 2017 $ 28,239 2018 110,790 2019 102,484 2020 79,055 2021 72,884 Thereafter 316,618 $ 710,070

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	7. Accrued Expenses and Other Current Liabilities The following summarizes accrued expenses and other current liabilities: March 31, June 30, 2017 2016 Accrued payroll, payroll taxes and vacation 676,882 648,705 Accrued bonus 300,000 300,000 Accrued commissions 429,000 433,000 Professional fees 228,584 256,130 Deferred income 29,491 20,655 Severance 99,859 - Other 230,571 228,847 $ 1,994,387 $ 1,887,337

Stock-Based Compensation Plans

Stock-Based Compensation Plans	9 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Plans	8. Stock-Based Compensation Plans Stock Option Awards For the three and nine months ended March 31, 2017, the compensation cost that has been charged against income for the Company’s stock option plans was $532,341 and $616,206, respectively, which in the nine month period included a charge to modify certain stock options of $81,765 and a reversal of stock compensation from prior periods due to forfeitures of unvested options of $616,239. For the three and nine months ended March 31, 2016, compensation cost that has been charged against income for the Company’s stock option plans was $446,172 and $1,175,000, respectively. As of March 31, 2017, there was approximately $2,771,938 of total unrecognized compensation cost related to non-vested share-based compensation arrangements to be recognized over a weighted-average period of 2.8 years. Stock options typically expire 10 years from the date of grant and vest over service periods, which typically are 4 years. All options are granted at fair market value, as defined in the applicable plans. The fair value of each option award was estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. The expected volatility represents the historical price changes of the Company’s stock over a period equal to that of the expected term of the option. The Company uses the simplified method for determining the option term. The risk-free rate was based on the U.S. Treasury yield curve in effect at the time of grant. The expected dividend yield is based upon historical and projected dividends. The Company has historically not paid dividends, and is not expected to do so in the near term. The weighted average fair value at date of grant for options granted during the nine months ended March 31, 2017 and 2016 was $4.46 and $4.23, respectively. There were options to purchase 327,500 shares granted during the nine months ended March 31, 2017. The fair value was estimated based on the weighted average assumptions of: For nine months ended March 31, 2017 2016 Risk-free interest rates 1.80 % 1.71 % Expected option life in years 6.25 6.25 Expected stock price volatility 54.68 % 55.41 % Expected dividend yield 0 % 0 % A summary of option activity under the Company’s equity plans as of March 31, 2017, and changes during the nine months ended March 31, 2017 is presented below: Outstanding Average Aggregate Vested and exercisable at June 30, 2016 1,790,224 $ 6.38 $ 1,675,072 Granted 327,500 $ 8.34 Exercised (52,500 ) $ 5.78 Forfeited (376,625 ) $ 8.24 Expired (2,700 ) $ 3.45 Outstanding as of March 31, 2017 1,685,899 $ 6.37 $ 9,324,182 Vested and exercisable at March 31, 2017 980,774 $ 4.63 $ 7,097,409 The total fair value of shares vested during the nine months ended March 31, 2017 was $1,055,434. The number and weighted-average grant-date fair value of non-vested stock options at the beginning of fiscal 2017 was 976,875 and $4.81, respectively. The number and weighted-average grant-date fair value of stock options which vested during the nine months ended March 31, 2017 was 224,250 and $4.71, respectively. Restricted Stock Awards On December 15, 2016, the Company issued 400,000 shares of restricted stock to its Chief Executive Officer. These awards vest over a period of up to five years, subject to meeting certain service, performance and market conditions. These awards were valued at approximately $3.4 million and compensation expense recorded in the three and nine months ended March 31, 2017 was $224,498 and $265,063, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Leases The Company has entered into several non-cancellable operating leases for the rental of certain manufacturing and office space, equipment and automobiles expiring in various years through 2021. The principal building lease provides for a monthly rental of approximately $26,000. The Company also leases certain office equipment and automobiles under operating leases expiring through fiscal 2018. Class Action Securities Litigation On September 19, 2016, Richard Scalfani, an individual shareholder of Misonix, filed a lawsuit against the Company and its former CEO and CFO in the U.S. District Court for the Eastern District of New York, alleging violations of the federal securities laws. The complaint alleges that the Company’s stock price was artificially inflated between November 5, 2015 and September 14, 2016 as a result of alleged false and misleading statements in the Company’s securities filings concerning the Company’s business, operations, and prospects and the Company’s internal control over financial reporting. Scalfani filed the action seeking to represent a putative class of all persons (other than defendants, officers and directors of the Company, and their affiliates) who purchased publicly traded Misonix securities between November 5, 2015 and September 14, 2016. Scalfani seeks an unspecified amount of damages for himself and for the putative class under the federal securities laws. On March 24, 2017, the Court appointed Scalfani and another individual Misonix shareholder, Tracey Angiuoli, as lead plaintiffs for purposes of pursuing the action on behalf of the putative class. The Company believes it has various legal and factual defenses to the allegations in the complaint, and intends to vigorously defend the action. The case is at its earliest stages; there has been no discovery and there is no trial date. The Company is not able to estimate the amount of potential loss it may recognize, if any, from this claim. The Company believes that its insurance coverage is sufficient to cover a potential loss, after payment of the policy retention of $250,000. Former Chinese Distributor - FCPA For several months, with the assistance of outside counsel, the Company conducted a voluntary investigation into the business practices of the independent Chinese entity that previously distributed its products in China and the Company’s knowledge of those business practices, which may have implications under the FCPA, as well as into various internal controls issues identified during the investigation. On September 27, 2016 and September 28, 2016, we voluntarily contacted the SEC and the DOJ, respectively, to advise both agencies of these potential issues. The Company has provided and will continue to provide documents and other information to the SEC and the DOJ, and is cooperating fully with these agencies in their investigations of these matters. Although the Company’s investigation is complete, additional issues or facts could arise which may expand the scope or severity of the potential violations. The Company has no current information derived from the investigation or otherwise to suggest that its previously reported financial statements and results are incorrect. At this stage, the Company is unable to predict what, if any, action the DOJ or the SEC may take or what, if any, penalties or remedial measures these agencies may seek. Nor can the Company predict the impact on the Company as a result of these matters, which may include the imposition of fines, civil and criminal penalties, which are not currently estimable, as well as equitable remedies, including disgorgement of any profits earned from improper conduct and injunctive relief, limitations on the Company’s conduct, and the imposition of a compliance monitor. The DOJ and the SEC periodically have based the amount of a penalty or disgorgement in connection with an FCPA action, at least in part, on the amount of profits that a company obtained from the business in which the violations of the FCPA occurred. During its distributorship relationship with the prior Chinese distributor from 2010 through 2016, the Company generated sales of approximately $8 million from the relationship. Further, the Company may suffer other civil penalties or adverse impacts, including lawsuits by private litigants in addition to the lawsuit that has already been filed, or investigations and fines imposed by local authorities. The investigative costs to date are approximately $2.1 million, of which approximately $2.0 million was charged to general and administrative expenses during the nine months ended March 31, 2017. Investigative costs for the three months ended March 31, 2017 were approximately $650,000. Former Chinese Distributor – Litigation On April 5, 2017, the Company’s former distributor in China, Cicel (Beijing) Science & Technology Co., Ltd., filed a lawsuit against the Company and certain officers and directors of the Company in the United States District Court for the Eastern District of New York, alleging that the Company improperly terminated its contract with the former distributor. The complaint, which seeks various remedies, including compensatory and punitive damages, specific performance and preliminary and post judgment injunctive relief, asserts various causes of action, including breach of contract, unfair competition, tortious interference with contract, fraudulent inducement, and conversion. The Company believes it has various legal and factual defenses to the allegations in the complaint, and intends to vigorously defend the action. The case is at its earliest stages; there has been no discovery and there is no trial date.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	10. Related Party Transactions Applied BioSurgical, a company owned by the brother of the Company’s Chief Executive Officer, Stavros G. Vizirgianakis, is an independent distributor for the Company outside of the United States. Set forth below is a table showing the Company’s net sales for the nine months ended March 31 and accounts receivable at March 31 for the indicated time periods below with Applied BioSurgical: 2017 2016 Sales $ 367,592 $ 349,490 Accounts receivable $ 104,678 $ 212,981 On October 25, 2016, the Company sold 761,469 shares of Common Stock in a private placement to Stavros G. Vizirgianakis, the Company’s current Chief Executive Officer, at a price per share of $5.253, representing total cash proceeds to the Company of approximately $4.0 million.

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes For the three months ended March 31, 2017 and 2016, the Company recorded an income tax benefit from continuing operations of $219,000 and $15,000, respectively, and for the nine months ended March 31, 2017 and 2016, the Company recorded an income tax benefit from continuing operations of $275,000 and $322,000, respectively. For the nine months ended March 31, 2017 and 2016, the effective rate of 16.0% and 26.6%, respectively, on continuing operations varied from the U.S. federal statutory rate primarily due to permanent book tax differences relating principally to stock compensation expense and tax credits. As of March 31, 2017 and June 30, 2016, the Company has no material unrecognized tax benefits or accrued interest and penalties.

Licensing Agreements for Medica

Licensing Agreements for Medical Technology	9 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Licensing Agreements for Medical Technology	12. Licensing Agreements for Medical Technology In October 1996, the Company entered into a License Agreement with MMIT expiring August 2017, 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 MMIT license provides for exclusive worldwide marketing and sales rights for this technology. The Company receives a 5% royalty on sales of these products by MMIT. Royalties from this license agreement were $953,235 and $956,947 for the three months ended March 31, 2017 and 2016, respectively, and were $2,838,487 and $2,932,240 for the nine months ended March 31, 2017 and 2016, respectively.

Segment Reporting

Segment Reporting	9 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Reporting	13. Segment Reporting Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated on a regular basis by the chief operating decision-maker (“CODM") in deciding how to allocate resources to an individual segment and in assessing performance of the segment. The Company has concluded that its Chief Executive Officer is the CODM as he is the ultimate decision maker for key operating decisions, determining the allocation of resources and assessing the financial performance of the Company. These decisions, allocations and assessments are performed by the CODM using consolidated financial information. Consolidated financial information is utilized by the CODM as the Company's current product offering primarily consists of minimally invasive therapeutic ultrasonic medical devices. The Company's products are relatively consistent and manufacturing is centralized and consistent across product offerings. Based on these factors, key operating decisions and resource allocations are made by the CODM using consolidated financial data and as such the Company has concluded that it operates as one segment. Worldwide revenue for the Company's products is categorized as follows: For the Nine Months Ended March 31 2017 2016 Domestic $ 12,019,103 $ 9,324,928 International 7,360,665 7,391,559 Total $ 19,379,768 $ 16,716,487 Substantially all of the Company’s long-lived assets are located in the United States.

Severance

Severance	9 Months Ended
	Mar. 31, 2017
Severance
Severance	14. Severance On August 26, 2016, the Company and the Company’s former Chief Executive Officer, Michael McManus (“McManus”) entered into a retirement agreement and general release (the “Retirement Agreement”). Pursuant to the Retirement Agreement, on September 2, 2016 Mr. McManus resigned as a Director and the Chairman of the Board of Directors of the Company and retired as President and Chief Executive Officer of the Company. Pursuant to the Retirement Agreement, the Company agreed to (i) pay Mr. McManus’ salary through June 30, 2017 at the then current level; (ii) continue to pay premiums for Mr. McManus’ and his dependents’ coverage under the Company’s medical, dental, vision, hospitalization, long term care and life insurance coverage through June 30, 2017 at the then current levels upon timely election by Mr. McManus under the law informally known as COBRA; and (iii) extend the exercisability of previously granted and then currently vested options to purchase shares of Common Stock through June 30, 2017. In addition, Mr. McManus had continued use of the vehicle provided him pursuant to his prior employment agreement through December 31, 2016. In connection with this Retirement Agreement, the Company recorded a charge of $330,000 during the quarter ended September 30, 2016 to accrue for the cash portion of these benefits, which will be paid during the period ending June 30, 2017. In addition, the Company recorded a non-cash compensation expense of $61,000 in connection with the modification of the terms of his vested stock options, and recorded a reduction in non-cash compensation expense of $596,000 relating to the forfeiture of his unvested stock options.

Basis of Presentation, Organi23

Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These consolidated financial statements of Misonix, Inc. (“Misonix” or the “Company”) include the accounts of Misonix and its 100% owned subsidiaries. All significant intercompany balances and transactions have been eliminated. The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all the information and footnotes required by U.S. GAAP for complete financial statements. As such, they should be read with reference to the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2016, which provides a more complete explanation of the Company’s accounting policies, financial position, operating results, business properties and other matters. In the opinion of management, these financial statements reflect all adjustments considered necessary for a fair statement of interim results.
Reclassifications	Reclassifications Certain expenses on the Statement of Operations have been reclassified to be consistent with the current year presentation. Historically, the Company had recorded stock compensation expense and bonus expense predominantly within general and administrative expenses. The Company has reclassified the prior years’ presentation to allocate certain of these costs to cost of goods sold, selling expenses and research and development expenses, which is consistent with the classification being used in fiscal 2017. This reclassification had no impact on the Company’s presentation of operating income (loss) and the gross profit impact was not material.
Organization and Business	Organization and Business Misonix designs, manufactures, develops and markets therapeutic ultrasonic devices. These products are used for precise bone sculpting, removal of soft tumors, and tissue debridement in the fields of orthopedic surgery, plastic surgery, neurosurgery, podiatry and vascular surgery. In the United States, the Company sells its products through a network of commissioned agents assisted by Company personnel. Outside of the United States, the Company sells to distributors who then resell the product to hospitals. The Company operates as one business segment.
High Intensity Focused Ultrasound Technology	High Intensity Focused Ultrasound Technology The Company sold its rights to the high intensity focused ultrasound technology to SonaCare Medical, LLC (“SonaCare”) in May 2010. The Company may receive up to approximately $5.8 million in payment for the sale. SonaCare will pay the Company 7% of the gross revenues received from its sales of the (i) prostate product in Europe and (ii) kidney and liver products worldwide, until the Company has received payments of $3 million, and thereafter 5% of the gross revenues, up to an aggregate payment of $5.8 million, all subject to a minimum annual royalty of $250,000. Cumulative payments through March 31, 2017 were $1,504,788. Payments are generally received once per year, in the Company’s third fiscal quarter. For the three months ended March 31, 2017 and 2016, the Company received a royalty of $250,000 in each quarter, which has been recorded in discontinued operations.
Major Customers and Concentration of Credit Risk	Major Customers and Concentration of Credit Risk Included in sales from continuing operations are sales to Cicel (Beijing) Science and Tech Co. Ltd. (“Cicel”) of $0 and $1,337,277 for the nine months ended March 31, 2017 and 2016, respectively, representing 8.0% of sales for 2016. There were no accounts receivable from Cicel at March 31, 2017 and June 30, 2016. The Company terminated its agreement with Cicel in the first quarter of fiscal 2017. For the three months ended March 31, 2017, one international distributor accounted for approximately 10% of sales for the quarter. In addition, this same customer had outstanding accounts receivable at March 31, 2017 of $369,463. Total royalties from Medtronic Minimally Invasive Therapies (“MMIT”) related to their sales of the Company’s ultrasonic cutting products, which use high frequency sound waves to coagulate and divide tissue for both open and laparoscopic surgery, were $2,838,487 and $2,930,240, for the nine months ended March 31, 2017 and 2016, respectively. Accounts receivable from MMIT royalties were approximately $953,000 and $973,000 at March 31, 2017 and June 30, 2016, respectively. The license agreement with MMIT expires in August 2017. At March 31, 2017 and June 30, 2016, the Company’s accounts receivable with customers outside the United States were approximately $762,000 and $768,000, respectively, none of which is over 90 days.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and judgments that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions are used for, but not limited to, establishing the allowance for doubtful accounts, valuation of inventory, depreciation, asset impairment evaluations and establishing deferred tax assets and related valuation allowances, and stock-based compensation. Actual results could differ from those estimates.
Loss per Common Share	Loss per Common Share Diluted EPS for the three and nine months ended March 31, 2017 and March 31, 2016 as presented is the same as basic EPS as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. Accordingly, excluded from the calculation of diluted EPS are outstanding options to purchase 145,750 and 512,750 shares of common stock for the three and nine months ended March 31, 2017, and options to purchase 844,250 and 486,000 shares of common stock for the three and nine months ended March 31, 2016.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment 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 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. The Company is currently in the early stages of evaluating this guidance to determine the impact it will have on its 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 Company adopted ASU 2015-17 as of March 31, 2016 on a prospective basis in order to simplify the balance sheet classification of deferred taxes. In May 2014, the FASB issued guidance on revenue from contracts with customers. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved, in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity's contracts with customers. This guidance permits the use of either the retrospective or cumulative effect transition method and is effective for the Company beginning in 2019; early adoption is permitted beginning in 2018. The Company has not yet selected a transition method and is currently evaluating the impact of the guidance on the Company's financial condition, results of operations and related disclosures. The FASB has also issued the following additional guidance clarifying certain issues on revenue from contracts with customers: Revenue from Contracts with Customers - Narrow-Scope Improvements and Practical Expedients and Revenue from Contracts with Customers - Identifying Performance Obligations and Licensing. The Company is currently in the early stages of evaluating this guidance to determine the impact it will have on its financial statements. There are no other recently issued accounting pronouncements that are expected to have a material effect on the Company's financial position, results of operations or cash flows.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories are summarized as follows: March 31, June 30, 2017 2016 Raw material $ 2,481,557 $ 3,102,175 Work-in-process 708,593 854,631 Finished goods 3,004,743 3,101,234 6,194,893 7,058,040 Less valuation reserve 1,285,478 1,235,105 $ 4,909,415 $ 5,822,935

Patents (Tables)

Patents (Tables)	9 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of patents	The following is a schedule of estimated future patent amortization expense as of March 31, 2017: 2017 $ 28,239 2018 110,790 2019 102,484 2020 79,055 2021 72,884 Thereafter 316,618 $ 710,070

Accrued Expenses and Other Cu26

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Schedule of accrued expenses and other current liabilities	The following summarizes accrued expenses and other current liabilities: March 31, June 30, 2017 2016 Accrued payroll, payroll taxes and vacation 676,882 648,705 Accrued bonus 300,000 300,000 Accrued commissions 429,000 433,000 Professional fees 228,584 256,130 Deferred income 29,491 20,655 Severance 99,859 - Other 230,571 228,847 $ 1,994,387 $ 1,887,337

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	9 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of weighted average fair value at date of grant for options	The fair value was estimated based on the weighted average assumptions of: For nine months ended March 31, 2017 2016 Risk-free interest rates 1.80 % 1.71 % Expected option life in years 6.25 6.25 Expected stock price volatility 54.68 % 55.41 % Expected dividend yield 0 % 0 %
Schedule of summary of option activity	A summary of option activity under the Company’s equity plans as of March 31, 2017, and changes during the nine months ended March 31, 2017 is presented below: Outstanding Average Aggregate Vested and exercisable at June 30, 2016 1,790,224 $ 6.38 $ 1,675,072 Granted 327,500 $ 8.34 Exercised (52,500 ) $ 5.78 Forfeited (376,625 ) $ 8.24 Expired (2,700 ) $ 3.45 Outstanding as of March 31, 2017 1,685,899 $ 6.37 $ 9,324,182 Vested and exercisable at March 31, 2017 980,774 $ 4.63 $ 7,097,409

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Schedule of net sales and accounts receivables	Set forth below is a table showing the Company’s net sales for the nine months ended March 31 and accounts receivable at March 31 for the indicated time periods below with Applied BioSurgical: 2017 2016 Sales $ 367,592 $ 349,490 Accounts receivable $ 104,678 $ 212,981

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of worldwide revenue	Worldwide revenue for the Company's products is categorized as follows: For the Nine Months Ended March 31 2017 2016 Domestic $ 12,019,103 $ 9,324,928 International 7,360,665 7,391,559 Total $ 19,379,768 $ 16,716,487

Basis of Presentation, Organi30

Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies (Details Narrative) - USD ($)	May 10, 2010	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Ownership percentage		100.00%		100.00%
Sales from continuing operations		$ 7,177,763	$ 5,426,147	$ 19,379,768	$ 16,716,487
Excluded from the calculation of Diluted EPS (in shares)		145,750	844,250	512,750	486,000
International [Member]
Sales from continuing operations				$ 7,360,665	$ 7,391,559
Accounts receivable		$ 762,000		762,000		$ 768,000
SonaCare Medical, LLC ("SonaCare") [Member]
Proceeds from sale of intangible assets	$ 5,800,000			1,504,788
Earn-out percentage	7.00%
Proceeds from sale of intangible assets	$ 3,000,000
Earn-out percentage	5.00%
Proceeds from sale of intangible assets	$ 5,800,000
Royalty revenue		$ 250,000	$ 250,000
SonaCare Medical, LLC ("SonaCare") [Member] | Minimum [Member]
Royalty revenue	$ 250,000
Cicel (Beijing) Science and Tech Co. Ltd. ("Cicel") [Member]
Sales from continuing operations				0	$ 1,337,277
Percentage of continuing operations		10.00%			8.00%
Accounts receivable		$ 369,463		369,463		0
Medtronic Minimally Invasive Therapies ("MMIT") [Member]
Accounts receivable		953,000		953,000		$ 973,000
Medtronic Minimally Invasive Therapies ("MMIT") [Member] | License Agreement [Member]
Royalty revenue		$ 953,235	$ 956,947	$ 2,838,487	$ 2,932,240

Inventories (Details)

Inventories (Details) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Inventory Disclosure [Abstract]
Raw material	$ 2,481,557	$ 3,102,175
Work-in-process	708,593	854,631
Finished goods	3,004,743	3,101,234
Inventory, gross	6,194,893	7,058,040
Less valuation reserve	1,285,478	1,235,105
Inventory, net	$ 4,909,415	$ 5,822,935

Property, Plant and Equipment (

Property, Plant and Equipment (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Depreciation and amortization	$ 253,515	$ 345,355	$ 682,832	$ 982,984
Inventory [Member]
Estimated useful lives			3 to 5 years
Generators [Member]
Depreciation and amortization			$ 533,000
Depreciation term of property			5 years	3 years

Patents (Details)

Patents (Details) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Finite-Lived Intangible Assets [Line Items]
Total	$ 710,070	$ 604,916
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
2,017	28,239
2,018	110,790
2,019	102,484
2,020	79,055
2,021	72,884
Thereafter	316,618
Total	$ 710,070	$ 604,916

Patents (Details Narrative)

Patents (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Patents totaled	$ 710,070		$ 710,070		$ 604,916
Patents [Member]
Intangible assets estimated useful lives			17 years
Patents totaled	710,070		$ 710,070		$ 604,916
Amortization expense	$ 27,877	$ 23,090	$ 80,602	$ 69,897

Accrued Expenses and Other Cu35

Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Payables and Accruals [Abstract]
Accrued payroll, payroll taxes and vacation	$ 676,882	$ 648,705
Accrued bonus	300,000	300,000
Accrued commissions	429,000	433,000
Professional fees	228,584	256,130
Deferred income	29,491	20,655
Severance	99,859
Other	230,571	228,847
Accrued expenses and other current liabilities	$ 1,994,387	$ 1,887,337

Stock-Based Compensation Plan36

Stock-Based Compensation Plans (Details)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rates	1.80%	1.71%
Expected option life in years	6 years 3 months	6 years 3 months
Expected stock price volatility	54.68%	55.41%
Expected dividend yield	0.00%	0.00%

Stock-Based Compensation Plan37

Stock-Based Compensation Plans (Details 1)	9 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Outstanding Shares [Roll Forward]
Outstanding at beginning | shares	1,790,224
Granted | shares	327,500
Excercised | shares	(52,500)
Forfeited | shares	(376,625)
Expired | shares	(2,700)
Outstanding at ending | shares	1,685,899
Vested and exercisable at ending | shares	980,774
Weighted Average Exercise Price [Roll Forward]
Outstanding at beginning | $ / shares	$ 6.38
Granted | $ / shares	8.34
Excercised | $ / shares	5.78
Forfeited | $ / shares	8.24
Expired | $ / shares	3.45
Outstanding at ending | $ / shares	6.37
Vested and exercisable at ending | $ / shares	$ 4.63
Aggregate Intrinsic Value [Roll Forward]
Outstanding at beginning | $	$ 1,675,072
Outstanding at ending | $	9,324,182
Vested and exercisable at ending | $	$ 7,097,409

Stock-Based Compensation Plan38

Stock-Based Compensation Plans (Details Narrative) - USD ($)	Dec. 15, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2017
Compensation cost		$ 532,341	$ 446,172	$ 616,206	$ 1,175,165
Unrecognized compensation cost		2,771,938		$ 2,771,938
Period of recognition				2 years 9 months 18 days
Weighted average fair value at date of grant (in dollars per share)				$ 4.46	$ 4.23
Number of shares granted				327,500
Fair value of shares vested				$ 1,055,434
Number of non-vested stock options				224,250
Weighted-average grant-date fair value of non-vested stock options (in dollars per share)				$ 4.71
Amount of non-vested options forfeited				$ 616,239
Modified of certain stock options				$ 81,765
Subsequent Event [Member]
Number of non-vested stock options						976,875
Weighted-average grant-date fair value of non-vested stock options (in dollars per share)						$ 4.81
Stock Options [Member]
Option Expiration period				10 years
Option vesting period				4 years
Restricted Stock [Member] | Chief Executive Officer [Member]
Compensation cost		$ 224,498		$ 265,063
Option vesting period	5 years
Fair value of shares vested	$ 3,400,000
Number of stock issued	400,000

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Payment of insurance retention policy			$ 250,000
Net sales	$ 7,177,763	$ 5,426,147	19,379,768	$ 16,716,487
Former Chinese Distributor - FCPA [Member]
Investigative costs	$ 650,000		2,100,000
Net sales			8,000,000
General and Administrative Expense [Member] | Former Chinese Distributor - FCPA [Member]
Investigative costs			2,000,000
Building [Member]
Rent expense			$ 26,000
Frequency of rent expense			Monthly
Office Equipment & Automobiles [Member]
Description of operating lease expiration term			Expiring through fiscal 2018.

Related Party Transactions (Det

Related Party Transactions (Details) - Mr. Stavros G. Vizirgianakis [Member] - Applied BioSurgical [Member] - USD ($)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Sales	$ 367,592	$ 349,490
Accounts receivable	$ 104,678	$ 212,981

Related Party Transactions (D41

Related Party Transactions (Details Narrative) - Mr. Stavros G. Vizirgianakis [Member] - Private Placement [Member]	Oct. 25, 2016USD ($)$ / sharesshares
Number of shares sold | shares	761,469
Share price (in dollars per share) | $ / shares	$ 5.253
Proceeds from stock sold | $	$ 4,000,000

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income tax benefit from continuing operations	$ 219,000	$ 15,000	$ 275,000	$ 322,000
Effective rate			16.00%	26.60%

Licensing Agreements for Medi43

Licensing Agreements for Medical Technology (Details Narrative) - License Agreement [Member] - Medtronic Minimally Invasive Therapies ("MMIT") [Member] - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 1996	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Agreement expiration date	2017-08
Percentage royalties on sales of product	5.00%
Revenues for royalties		$ 953,235	$ 956,947	$ 2,838,487	$ 2,932,240

Segment Reporting (Details)

Segment Reporting (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Total	$ 7,177,763	$ 5,426,147	$ 19,379,768	$ 16,716,487
Domestic [Member]
Total			12,019,103	9,324,928
International [Member]
Total			$ 7,360,665	$ 7,391,559

Segment Reporting (Details Narr

Segment Reporting (Details Narrative)	9 Months Ended
	Mar. 31, 2017N
Segment Reporting [Abstract]
Number of operating segment	1

Severance (Details Narrative)

Severance (Details Narrative) - Mr. Michael A. McManus, Jr. [Member] - Retirement Agreement and General Release [Member] - USD ($)	Aug. 26, 2016	Sep. 30, 2016	Mar. 31, 2017
Description of annual base salary	the Company agreed to (i) pay Mr. McManus’ salary through June 30, 2017 at the then current level; (ii) continue to pay premiums for Mr. McManus’ and his dependents’ coverage under the Company’s medical, dental, vision, hospitalization, long term care and life insurance coverage through June 30, 2017 at the then current levels upon timely election by Mr. McManus under the law informally known as COBRA; and (iii) extend the exercisability of previously granted and then currently vested options to purchase shares of Common Stock through June 30, 2017.
Non-cash compensation expense			$ 61,000
Compensation expense to forfeiture of unvested stock options			$ 596,000
Accrue benefits under employment agreement		$ 330,000