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EMPLOYEE AND DIRECTOR EQUITY INCENTIVE PLANS (Tables)
3 Months Ended
Sep. 30, 2017
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 three months ended September 30, 2017 and September 30, 2016 using the Black-Scholes option-pricing model:
 
 
 
Three months ended September 30,
 
 
 
2017
 
 
2016
 
Expected life of option (years)
 
 
4
 
 
 
4
 
Risk-free interest rate
 
 
1.66 - 1.69%
 
 
 
0.93 - 1.07%
 
Assumed volatility
 
 
113.62 - 113.75%
 
 
 
104.69 - 108.34%
 
Expected dividend rate
 
 
0.00%
 
 
 
0.00%
 
Expected forfeiture rate
 
 
6.15 - 6.72%
 
 
 
7.42 - 7.88%
 
Schedule Of Share Based Compensation Stock Options Activity
Information with respect to stock option activity is as follows:
 
 
 
Number
of
Options
 
 
Weighted
Average
Exercise Price
 
 
Average
Remaining
Contractual Life
(in years)
 
Balance at June 30, 2016
 
 
6,111,360
 
 
$
0.88
 
 
 
6.96
 
Options granted
 
 
2,654,100
 
 
 
0.59
 
 
 
 
 
Options exercised
 
 
(124,252
)
 
 
0.56
 
 
 
 
 
Options forfeited
 
 
(391,910
)
 
 
2.55
 
 
 
 
 
Balance at June 30, 2017
 
 
8,249,298
 
 
 
0.71
 
 
 
6.50
 
Options granted
 
 
27,000
 
 
 
0.46
 
 
 
 
 
Options forfeited
 
 
(226,333
)
 
 
1.91
 
 
 
 
 
Balance at September 30, 2017
 
 
8,049,965
 
 
 
0.68
 
 
 
6.27
 
Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award
The following table summarizes information relating to the stock options outstanding as of September 30, 2017:
 
 
 
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
 
 
7,235,065
 
 
 
6.48
 
 
$
0.52
 
 
 
2,766,466
 
 
 
6.03
 
 
$
0.54
 
$1.01 to $2.50
 
 
662,150
 
 
 
5.02
 
 
 
1.48
 
 
 
510,150
 
 
 
4.71
 
 
 
1.61
 
$2.51 to $5.00
 
 
82,200
 
 
 
1.71
 
 
 
3.98
 
 
 
82,200
 
 
 
1.71
 
 
 
3.98
 
$5.01 to $6.95
 
 
70,550
 
 
 
1.50
 
 
 
5.90
 
 
 
70,550
 
 
 
1.50
 
 
 
5.90
 
Balance at September 30, 2017
 
 
8,049,965
 
 
 
6.27
 
 
 
0.68
 
 
 
3,429,366
 
 
 
5.64
 
 
 
0.89
 
Schedule Of Unrecognized Compensation Cost Nonvested Awards
Information with respect to unvested employee stock option activity is as follows:
 
 
 
Number
of 
Options
 
 
Weighted
Average
Grant Date
Fair Value
Per Share
 
 
Average
Remaining
Contractual Life
(in years)
 
Balance at June 30, 2016
 
 
4,852,367
 
 
$
0.54
 
 
 
7.42
 
Options granted
 
 
2,654,100
 
 
 
0.59
 
 
 
 
 
Options vested
 
 
(2,110,085
)
 
 
0.57
 
 
 
 
 
Options forfeited
 
 
(199,284
)
 
 
0.80
 
 
 
 
 
Balance at June 30, 2017
 
 
5,197,098
 
 
 
0.54
 
 
 
6.93
 
Options granted
 
 
27,000
 
 
 
0.46
 
 
 
 
 
Options vested
 
 
(422,166
)
 
 
0.74
 
 
 
 
 
Options forfeited
 
 
(181,333
)
 
 
0.66
 
 
 
 
 
Balance at September 30, 2017
 
 
4,620,599
 
 
 
0.52
 
 
 
6.74
 
Schedule Of Share Based Compensation Restricted Stock Units Award Activity
Information with respect to RSU activity is as follows:
 
 
 
Number of
Restricted
Stock Units
 
 
Weighted
Average
Valuation
Price Per Unit
 
Balance at June 30, 2016
 
 
4,029,244
 
 
$
1.03
 
RSUs granted
 
 
1,671,816
 
 
 
1.15
 
Shares issued
 
 
(144,728
)
 
 
0.75
 
Balance at June 30, 2017
 
 
5,556,332
 
 
 
1.07
 
RSUs granted
 
 
-
 
 
 
-
 
RSUs forfeited
 
 
(18,181
)
 
 
0.99
 
Shares issued
 
 
(36,364
)
 
 
0.99
 
Balance at September 30, 2017
 
 
5,501,787
 
 
 
1.07