STOCK OPTIONS (Tables)

3 Months Ended

Sep. 30, 2014

Fair value weighted average assumptions

	Three Months Ended September 30,			Three Months Ended September 30,
	2014			2013
Expected volatility		70.01% - 104.94	%	70.01	%
Risk-free interest rate		0.30% - 0.78	%	0.39% - 0.78	%
Expected life (years)		2.50 - 3.25		2 - 3

Company's non-vested employee stock options

A summary of the status of the Company’s non-vested employee stock options during the three months ended September 30, 2014 is presented below:

	Options		Weighted Average Grant-Date Fair Value
Non-vested at July 1, 2014		26,250	$	1.69
Granted		-		-
Vested		-		-
Forfeited		-		-
Non-vested at September 30, 2014		26,250	$	1.69

A summary of the status of the Company’s non-vested employee stock options during the three months ended September 30, 2013 is presented below:

	Options			Weighted Average Grant-Date Fair Value
Non-vested at July 1, 2013		20,375		$	3.26
Granted		15,000			3.62
Vested		(15,000	)		3.62
Forfeited		-			-
Non-vested at September 30, 2013		20,375		$	4.35

Employee 2007 [Member]

Option activities

A summary of option activities under the 2007 Employee Plan during the three months ended September 30, 2014 is presented as follows:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2014		130,000	$	3.93		2.57	$	13
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at September 30, 2014		130,000	$	3.93		2.33	$	31
Exercisable at September 30, 2014		103,750	$	4.14		1.85	$	10

No stock options were exercised during the three months ended September 30, 2014.

A summary of option activities under the 2007 Employee Plan during the three months ended September 30, 2013 is presented as follows:

	Options			Weighted Average Exercise Price			Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2013		263,500		$	3.06			1.57	$	122
Granted		15,000			3.62			4.96		-
Exercised		(73,000	)		1.72			-		(111	)
Forfeited or expired		(37,500	)		(4.81	)		-		-
Outstanding at September 30, 2013		168,000		$	3.28			1.57	$	78
Exercisable at September 30, 2013		147,625		$	2.95			1.49	$	78

Director 2007 [Member]

Option activities

A summary of option activities under the 2007 Directors Plan during the three months ended September 30, 2014 is presented as follows:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2014		315,000	$	3.62		2.63	$	24
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at September 30, 2014		315,000	$	3.62		2.37	$	151
Exercisable at September 30, 2014		315,000	$	3.62		2.37	$	151

A summary of option activities under the 2007 Directors Plan during the three months ended September 30, 2013 is presented as follows:

	Options			Weighted Average Exercise Price			Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2013		340,000		$	3.53			1.96	$	80
Granted		60,000			3.62			4.96		-
Exercised		-			-			-		-
Forfeited or expired		(60,000	)		(4.81	)		-		-
Outstanding at September 30, 2013		340,000		$	3.32			2.62	$	163
Exercisable at September 30, 2013		340,000		$	3.32			2.62	$	163