3. STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Jun. 30, 2014

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

Assumptions for fair value of options granted

	Year Ended
	June 30, 2014
Assumptions:
Option life		5.0 years
Risk-free interest rate		3.00%
Stock volatility		479%
Dividend yield		0
Weighted average fair value of grants	$	0.90

Stock option activity

	Options Outstanding
	Number of Shares			Weighted Average Exercise Price		Weighted Average Contractual Life
Outstanding at July 1, 2012		392,587		$	4.56		8.15 years
Grants		9,000			0.85
Cancellations		(1,500	)		0.55
Outstanding at June 30, 2013		400,087		$	4.49		7.21 years
Grants		9,000			0.90
Outstanding at June 30, 2014		409,087		$	4.41		6.27 years

Stock options outstanding by exercise price ranges

Range of Exercise Prices		Number of Shares		Weighted-Average Remaining Contractual Life (years)		Weighted-Average Exercise Price		Exercisable Number of Shares		Exercisable Weighted-Average Exercise Price
$	1.20		207,800		7.68	$	1.20		207,800	$	1.20
$	0.90		9,000		9.52		0.90		9,000		0.90
$	0.85		9,000		8.52		0.85		9,000		0.85
$	0.55		49,500		7.62		0.55		49,500		0.55
$	0.27		40,000		7.04		0.27		40,000		0.27
$	1.35		1,200		5.41		1.35		1,200		1.35
$	1.25		1,200		4.41		1.25		1,200		1.25
$	6.25		1,600		2.42		6.25		1,600		6.25
$	7.75		1,200		3.41		7.75		1,200		7.75
$	11.50		800		1.42		11.50		800		11.50
$	13.75		50,427		1.86		13.75		50,427		13.75
$	20.75		37,360		0.96		20.75		37,360		20.75
$	0.27–$20.75		409,087		6.27	$	4.41		409,087	$	6.21