Options, Warrants And Stockbased Compensation (TABLE)

3 Months Ended

Sep. 30, 2014

OPTIONS, WARRANTS AND STOCK-BASED COMPENSATION(TABLE):

Schedule of Weighted Average Number of Shares

The following weighted average assumptions were used to estimate the fair value of stock options using the Black-Scholes option pricing model:

	Three Months Ended September 30, 2014	Three Months Ended September 30, 2013
Risk-free interest rate	0.62% - 0.72%	0.90% - 0.96%
Expected dividend yield	-	-
Expected term	3.25 - 5.5 years	5.5 years
Forfeiture rate	0%	0%
Expected volatility	244.90% - 262.52%	122.33% - 124.91%

Summary of Option Activity (TABLE)

A summary of option activity as of September 30, 2014 and for the three months then ended is presented below. All information is presented pre-split:

Options	Shares		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at June 30, 2012	186,760	$	15.00	8.84 years	$	-
Granted	-		-	-		-
Exercised	-		-	-		-
Forfeited or expired	-		-	-		-
Outstanding at June 30, 2013	186,760	$	15.00	7.84 years	$	-
Granted	-		-	-		-
Exercised	-		-	-		-
Forfeited	-		-	-		-
Exercisable at June 30, 2014 and September 30, 2014	186,760	$	15.00	6.84 years	$	-

Summary of Warrants Outstanding (TABLE)

The following table summarizes the warrants outstanding at June 30, 2014 adjusted for the 1:250 stock split which took effect on September 4, 2014:

	Exercise price	Number	Expiration Date
$	2.50	2,000	02/10/2017
$	2.50	4,000	02/17/2017
$	2.50	1,250	04/18/2017
$	2.50	800	08/15/2017
$	2.50	200	08/20/2017
$	2.50	1,000	09/14/2017
$	2.50	1,000	10/02/2017
		10,250