SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Dec. 31, 2012

Share-Based Compensation Expense for Options Granted

The following assumptions were used in the calculation of share-based compensation expense for options granted during the three months ended December 31, 2011 (no options were granted during the three months ended December 31, 2012), and the six months ended December 31, 2012 and 2011:

	Three Months Ended December 31, 2011
Dividend rate	None
Price volatility	88%
Risk-free interest rate	1.0%-1.2%
Expected life	5.5 years

	Six Month Ended December 31,
	2012	2011
Dividend rate	None	None
Price volatility	87%	62%
Risk-free interest rate	0.9%	1.0%-1.3%
Expected life	6.0 years	6.0 years

Summary of Stock Option Activity

Following is a summary of stock option activity for the six months ended December 31, 2012 and 2011:

	2012					2011
	Shares			Weighted- Average Exercise Price		Shares			Weighted- Average Exercise Price
Outstanding at beginning of period		591,672		$	2.48		320,842		$	2.71
Granted		35,000			1.73		205,000			2.04
Exercised		(33,334	)		1.50		—			—
Forfeited		(13,334	)		7.74		(14,168	)		2.43
Outstanding at end of period		580,004		$	2.37		511,674		$	2.65
Exercisable at end of period		250,976		$	2.96		244,591		$	3.32
Weighted-average fair value per option granted during the period				$	1.25				$	1.16

Summary of Information Regarding Options Outstanding and Options Exercisable under Plans

Following is a summary of information regarding options outstanding and options exercisable at December 31, 2012:

	Options Outstanding								Options Exercisable
Range of Exercise Price	Number Outstanding		Average Contractual Life		Average Exercise Price		Aggregate Intrinsic Value		Number Outstanding		Average Remaining Contractual Life		Average Exercise Price		Aggregate Intrinsic Value
$1.35 to $3.48		515,000		8.8 years	$	1.97	$	61,150		185,972		8.2 years	$	2.04	$	19,210
$3.49 to $5.62		50,003		3.2 years		4.81	$	0		50,003		3.2 years		4.81	$	0
$5.63 to $7.76		10,001		2.7 years		7.34	$	0		10,001		2.7 years		7.34	$	0
$7.77 to $9.90		5,000		2.5 years		9.90	$	0		5,000		2.5 years		9.90	$	0
Total		580,004		8.2 years	$	2.37	$	61,150		250,976		6.9 years	$	2.96	$	19,210

Summary of Restricted Share Activity

The following is a summary of restricted share activity for the six months ended December 31, 2012:

	Shares		Weighted- Average Grant Date Fair Value
Outstanding at beginning of year		—		—
Granted		35,000	$	1.73
Vested		—		—
Forfeited		—		—
Outstanding at end of period		35,000	$	1.73