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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Mar. 31, 2013
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table summarizes the options activity for the nine month ended March 31, 2013:

 

    Options     Weighted-average
exercise price
    Weighted average
remaining contractual life
(years)
    Aggregate
Intrinsic Value
 
Outstanding as of June 30, 2012     105,000       2.71       2.86       -  
Issued     -       -       -       -  
Exercised     -       -       -       -  
Expired     -       -       -       -  
Outstanding as of March 31, 2013     105,000     $ 2.71       2.11     $ -