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EMPLOYEE AND DIRECTOR EQUITY INCENTIVE PLANS (Tables)
6 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions
The following assumptions were used to estimate the fair value of options granted during the six months ended December 31, 2016 and December 31, 2015 using the Black-Scholes option-pricing model:
 
 
 
Six months ended December 31,
 
 
 
2016
 
 
2015
 
Expected life of option (years)
 
 
4
 
 
 
4
 
Risk-free interest rate
 
 
0.93 - 1.14%
 
 
 
1.14 - 1.38%
 
Assumed volatility
 
 
104.69 - 108.35%
 
 
 
100.77 - 101.70%
 
Expected dividend rate
 
 
0.00%
 
 
 
0.00%
 
Expected forfeiture rate
 
 
7.42 - 9.18%
 
 
 
6.23 - 7.97%
 
Schedule Of Share Based Compensation Stock Options Activity
Information with respect to stock option activity is as follows:
 
 
 
 
 
 
 
 
 
Average
 
 
 
Number
 
Weighted
 
Remaining
 
 
 
of
 
Average
 
Contractual Life
 
 
 
Options
 
Exercise Price
 
(in years)
 
Balance at June 30, 2015
 
 
1,577,778
 
$
2.60
 
 
 
 
Options granted
 
 
4,782,100
 
 
0.49
 
 
 
 
Options forfeited
 
 
(248,518)
 
 
4.16
 
 
 
 
Balance at June 30, 2016
 
 
6,111,360
 
 
0.88
 
 
5.18
 
Options granted
 
 
1,022,500
 
 
0.58
 
 
 
 
Options exercised
 
 
(120,000)
 
 
0.57
 
 
 
 
Options forfeited
 
 
(223,444)
 
 
1.18
 
 
 
 
Balance at December 31, 2016
 
 
6,790,416
 
$
0.83
 
 
6.59
 
Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award
The following table summarizes information relating to the stock options outstanding as of December 31, 2016:
 
 
 
Outstanding
 
Exercisable
 
Range of Exercise Prices
 
Number
of
Options
 
Average
Remaining
Contractual Life
(in years)
 
Weighted
Average
Exercise
Price
 
Number
of
Options
 
Average
Remaining
Contractual Life
(in years)
 
Weighted
Average
Exercise
Price
 
$0.28 to $1.00
 
 
5,808,050
 
 
6.95
 
$
0.50
 
 
933,721
 
 
6.29
 
$
0.63
 
$1.01 to $2.50
 
 
684,316
 
 
5.69
 
 
1.50
 
 
364,231
 
 
5.11
 
 
1.67
 
$2.51 to $5.00
 
 
86,200
 
 
2.48
 
 
3.96
 
 
86,200
 
 
2.48
 
 
3.96
 
$5.01 to $6.95
 
 
211,850
 
 
1.33
 
 
6.48
 
 
211,850
 
 
1.33
 
 
6.48
 
Balance at December 31, 2016
 
 
6,790,416
 
 
6.59
 
$
0.83
 
 
1,596,002
 
 
5.16
 
$
1.82
 
Schedule Of Unrecognized Compensation Cost Nonvested Awards
A summary of the status of unvested employee stock options as of December 31, 2016, and June 30, 2016, and changes during the six months and years then ended is presented below:
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
 
Average
 
Average
 
 
 
Number
 
Grant Date
 
Remaining
 
 
 
of
 
Fair Value
 
Contractual Life
 
 
 
Options
 
Per Share
 
(in years)
 
Balance at June 30, 2015
 
 
776,525
 
$
1.19
 
 
 
 
Options granted
 
 
4,782,100
 
 
0.49
 
 
 
 
Options vested
 
 
(596,993)
 
 
0.89
 
 
 
 
Options forfeited
 
 
(109,265)
 
 
0.88
 
 
 
 
Balance at June 30, 2016
 
 
4,852,367
 
 
0.54
 
 
7.40
 
Options granted
 
 
1,022,500
 
 
0.58
 
 
 
 
Options vested
 
 
(510,169)
 
 
0.64
 
 
 
 
Options forfeited
 
 
(170,284)
 
 
0.85
 
 
 
 
Balance at December 31, 2016
 
 
5,194,414
 
$
0.53
 
 
7.04
 
Schedule Of Share Based Compensation Restricted Stock Units Award Activity
The table below summarizes the activity of the RSUs for the six months ended December 31, 2016 and the year ended June 30, 2016:
 
 
 
 
 
 
Weighted
 
 
 
Number of
 
Average
 
 
 
Restricted
 
Valuation
 
 
 
Stock Units
 
Price Per Unit
 
Balance at June 30, 2015
 
 
1,936,035
 
$
1.53
 
RSUs granted
 
 
2,364,000
 
 
0.50
 
Shares issued
 
 
(270,791)
 
 
0.63
 
Balance at June 30, 2016
 
 
4,029,244
 
 
1.03
 
RSUs granted
 
 
1,671,816
 
 
0.99
 
Shares issued
 
 
(108,363)
 
 
0.66
 
Balance at December 31, 2016
 
 
5,592,697
 
$
1.04