SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Mar. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of weighted average assumptions

The following assumptions were used in the calculation of share-based compensation expensefor options granted during the three and nine months ended March 31, 2013:

	Three Months Ended			Nine Months Ended
	March 31, 2013			March 31, 2013
Dividend rate		None			None
Price volatility		92	%		89	%
Risk-free interest rate		0.8	%		0.86	%
Expected Life		5.2 years			5.7 years

Schedule of summary of stock option activity

Following is a summary of stock option activity for the nine months ended March31, 2014 and 2013:

	2014					2013
	Number of Shares			Weighted-Average Exercise Price		Number of Shares			Weighted-Average Exercise Price
Outstanding at beginning of period		292,504		$	2.35		591,672		$	2.48
Options granted		—			—		60,000			1.90
Options exercised		(4,695	)		1.96		(33,334	)		1.50
Options forfeited		(118,640	)		2.09		(213,334	)		2.35
Outstanding at end of period		169,169		$	2.43		405,004		$	2.34
Stock Options Exercisable at March 31,		142,502		$	2.55		274,726		$	2.88
Weighted-average fair value per option granted during the period				$	—				$	1.34

Schedule of options outstanding and options exercisable

Following isa summary of information regarding options outstanding and options exercisable at March 31, 2014:

		Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding	Weighted-Avg. Remaining Contractual Life		Weighted-Avg. Exercise Price		Aggregate. Intrinsic Value	Number Outstanding	Weighted-Avg. Remaining Contractual Life		Weighted-Avg. Exercise Price		Average Intrinsic Value
$0 to 2.50	147,500	7.50	$	1.87	$	19,950	120,833	7.38	$	1.89	$	13,833
2.5  to 5.00	3,334	3.13		4.38		—	3,334	3.13		4.38		—
5.01  to 7.50	10,001	0.24		5.61		—	10,001	0.24		5.61		—
7.51 to 10.00	8,334	1.77		7.65		—	8,334	1.77		7.65		—
Total	169,169	6.70 years	$	2.43	$	19,950	142,502	6.46	$	2.55	$	13,833

Schedule of restricted share activity

The following is a summary of restricted share activityfor the nine months ended March 31, 2014 and 2013:

	2014			2013
	Number of Shares		Weighted-Average Grant Date Fair Value	Number of Shares		Weighted-Average Grant Date Fair Value
Outstanding at beginning of  period	32,500	$	1.73	—	$
Granted	—		—	35,000		1.73
Vested	(9,166)		1.73	—		—
Forfeited	(8,334)		1.73	—		—
Outstanding at end of period	15,000	$	1.73	35,000	$	1.73