SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Sep. 30, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of inventories

Inventories consist of the following at September 30, 2013 and June 30, 2013, (in thousands):

	September 30,		June 30,
	2013		2013
Raw materials	$	254	$	213
Work in process		185		327
Finished goods		22		38
Inventories	$	461	$	578

Summary of intangible assets subject to amortization

The following is a summary of intangible assets subject to amortization as of September 30, 2013 and June 30, 2013, including the retroactive adjustments for final valuation of such intangible assets (in thousands):

	September 30,			June 30,
	2013			2013
Customer list	$	2,927		$	2,927
Less: accumulated amortization		(1,406	)		(1,298	)
Other intangible assets, net	$	1,521		$	1,629

Financial instruments measured at fair value on a recurring basis

The following table summarizes the financial instruments measured at fair value in the Consolidated Balance Sheet as of September 30, 2013 and June 30, 2013:

September 30, 2013	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Liabilities
Interest rate swaps	$	-	$	3	$	-	$	3
Put obligation on common stock	$	-	$	5,694	$	-	$	5,694

June 30, 2013	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
Liabilities
Interest rate swaps	$	-	$	6	$	-	$	6
Put obligation on common stock	$	-	$	5,694	$	-	$	5,694