10. Share-Based Payments (Tables)

12 Months Ended

Jun. 30, 2012

Share-Based Payments Tables

Schedule of Restricted Stock

	Shares			Weighted Average Grant Date Fair Value
Nonvested at July 1, 2010		—
Granted		3,937,500			35.02
Vested		—			—
Forfeited and cancelled		—			—
Nonvested at June 30, 2011		3,937,500			35.02
Granted		497,500			12.00
Vested
Forfeited and cancelled		(1,548,332	)		27.17
Nonvested at June 30, 2012		2,886,668			29.45

Schedule of Stock Options

	Number of Options			Weighted average exercise price		Weighted average remaining contractual life (years)		Aggregate intrinsic value
Outstanding at June 30, 2011		—			—		—		—
Granted		3,344,379			6.14				1,885
Exercised		—
Forfeited and cancelled		(276,876	)		5.00		9.14		193
Outstanding at June 30, 2012		3,067,503			6.24		9.16		1,155
Exercisable at June 30, 2012		156,250			5.00		—		78

The Company is accounting for these options at fair market value of the options on the date of grant, with the value being recognized over the requisite service period.  No shares were vested as of June 30, 2012.  The fair value of each option award is estimated using a Black-Scholes option valuation model.  Expected volatility is based on the historical volatility of the price of comparable companies' stock.  The risk-free interest rate is based on U.S. Treasury issues with a term equal to the expected life of the option.  The Company uses historical data to estimate expected dividend yield, expected life and forfeiture rates.  Options generally have an expiration  of 10 years and vest over a period of 3 or 4 years.  The fair value of the options granted during the year ended June 30, 2012 (none were granted in 2011) was estimated based on the following weighted average assumptions:

	Year Ended June 30, 2012			Year Ended June 30, 2011
Expected volatility		63	%		—
Risk-free interest rate		1.15	%		—
Expected dividend yield		—			—
Expected life (in years)		6.25			—
Estimated fair value per option granted	$	6.82			—