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SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Sep. 30, 2016

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of the options is presented in the table below:

			Weighted Average
	Shares		Exercise Price

Options outstanding, as of June 30, 2016		66,000	$	6.88
Granted		150,000		1.10
Canceled, forfeited or expired		-	$	-

Options outstanding, as of September 30, 2016		216,000	$	2.87

Options exercisable, as of September 30, 2016		62,000	$	7.19

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

Following is a summary of the status of options outstanding and exercisable at September 30, 2016:

Outstanding Options					Exercisable Options
				Average					Average
				Remaining	Average Exercise				Remaining
Exercise Price		Number		Contractual Life	Price		Number		Contractual Life
$	7.75		56,000	1.63 years	$	7.75		56,000		1.63 years
$	2.01		10,000	6.64 years	$	2.01		6,000		6.64 years
$	1.10		150,000	4.82 years	$	-		-		-
			216,000					62,000

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

Following is a summary of the status of warrants outstanding and exercisable at September 30, 2016:

				Weighted		Average
				Average		Remaining
Warrants Outstanding		Warrants Exercisable		Exercise Price		Contractual Life
	139,032		139,032	$	9.30	1.63 years

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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