STOCK OPTIONS (Tables)

3 Months Ended

Dec. 31, 2012

Option activities

A summary of option activities under the 2007 Employee Plan during the six month period ended December 31, 2012 is presented as follows:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2012		313,000	$	3.85		2.31	$	-
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		(44,000)		(8.69)		-		-
Outstanding at December 31, 2012		269,000	$	3.05		2.06	$	-
Exercisable at December 31, 2012		248,250	$	2.95		1.90	$	-

Companys non-vested employee stock options

A summary of the status of the Company’s non-vested employee stock options during the six months ended December 31, 2012 is presented below:

				Weighted Average Grant-Date
	Options			Fair Value
Non-vested at July 1, 2012		43,250		$	3.29
Granted		-			-
Vested		(21,375	)		3.16
Forfeited		(1,125	)		3.16
Non-vested at December 31, 2012		20,750		$	3.29

2007 Directors plan option activities

A summary of option activities under the 2007 Directors Plan during the three months ended December 31, 2012 is presented as follows:

	Options			Weighted Average Exercise Price			Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2012		385,000		$	4.52			2.45	$	-
Granted		-			-			-		-
Exercised		-			-			-		-
Forfeited or expired		(60,000	)		(4.81	)		-		-
Outstanding at December 31, 2012		325,000		$	3.59			2.32	$	-
Exercisable at December 31, 2012		325,000		$	3.59			2.32	$	-