STOCK OPTIONS (Tables)

3 Months Ended

Sep. 30, 2015

Fair value weighted average assumptions

	Three Months Ended September 30,
	2015		2014
Expected volatility		71.44%  to  104.94%	70.01%  to  104.94%
Risk-free interest rate		0.30%  to  0.78%	0.30%  to  0.78%
Expected life (years)		2.50	2.50 to 3.25

Company's non-vested employee stock options

A of the status of the Company’s non-vested employee stock options during the three months ended September 30, 2015 is presented below:

	Options		Weighted Average Grant-Date  Fair Value
Non-vested at July 1, 2015		17,500	$	1.69
Granted		-		-
Vested		-		-
Forfeited		-		-
Non-vested at September 30, 2015		17,500	$	1.69

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

2007 Employee Plan [Member]

Option activities

A summary of option activities under the 2007 Employee Plan during the three months ended September 30, 2015 is presented as follows:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2015		130,000	$	3.93		1.57	$	-
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at September 30, 2015		130,000	$	3.93		1.32	$	-
Exercisable at September 30, 2015		112,500	$	4.06		1.03	$	-

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

2007 Directors Equity Incentive Plan [Member]

Option activities

A summary of option activities under the 2007 Directors Plan during the three months ended September 30, 2015 is presented as follows: 

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2015		365,000	$	3.64		1.99	$	53
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at September 30, 2015		365,000	$	3.64		1.74	$	13
Exercisable at September 30, 2015		365,000	$	3.64		1.74	$	13

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