Quarterly report pursuant to Section 13 or 15(d)

Note 19 - Income Taxes

v2.4.0.6
Note 19 - Income Taxes
6 Months Ended
Dec. 31, 2011
Income Tax Disclosure [Text Block]
NOTE 19 – INCOME TAXES

Our effective tax rates were approximately 21.9% and 0.21% for the six months ended December 31, 2011 and 2010, respectively. Our effective tax rate was lower than the U.S. federal statutory rate due to the fact that our operations are carried out in foreign jurisdictions, which are subject to lower income tax rates.  Also, the Company has established a full valuation allowance as management believes it is more likely than not that these assets will not be realized in the future.