SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2014

Net Cash and Cash Equivalents Provided by (Used in) Operating Activities for Last Three Fiscal Years

As indicated in the Consolidated Statements of Cash Flows, the Company reported the following “Net cash and cash equivalents provided by (used in) operating activities” for the last three fiscal years:

Year ended June 30, 2012	$	6,147,000
Year ended June 30, 2013		1,719,000
Year ended June 30, 2014		(60,000)

Reconciliation of Denominator of Basic Earnings Per Share Computation to Denominator of Diluted Earnings Per Share Computation

A reconciliation of the denominator of the basic EPS computation to the denominator of the diluted EPS computation is as follows (in thousands):

	Year Ended June 30,
	2012		2013		2014
Weighted average number of common shares outstanding used in computation of basic EPS		10,513		10,513		10,533
Dilutive number of outstanding stock options		10		-		-
Weighted average number of common and potential common shares outstanding used in computation of Diluted EPS		10,523		10,513		10,533
Number of dilutive options excluded in the computation of diluted EPS due to net loss		-		30		71