Compensatory Equity Incentive Plan and Other Equity Incentives (Tables)

9 Months Ended

Mar. 31, 2015

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

Schedule of Share Based Compensation Award Plans

These two plans are summarized below: 

			Award Shares		Available for
	Award Shares		Outstanding		Issuance
	Authorized		at March 31,		at March 31,
Equity Compensation Arrangement			2015		2015
Amended and Restated Omnibus Incentive Plan		3,915,625		1,801,695		1,474,866
Employee Stock Purchase Plan		400,000		—		400,000
		4,315,625		1,801,695		1,874,866

Schedule of stock options grant sate fair value assumptions

For stock options granted in the nine month periods ended March 31, 2015 and 2014, the Company estimated the fair value of each stock option as of the date of grant using the following assumptions:

	Nine Months Ended			Nine Months Ended
	March 31, 2015			March 31, 2014
Expected volatility		118	%		105	%
Weighted average expected volatility		118	%		105	%
Dividend yields		0	%		0	%
Risk-free interest rate		1.76	%		1.60	%
Expected term, in years		7.50			7.49

Schedule of Share Based Compensation Awards Activity

A summary of the activity for share-based compensation awards in the nine months ended March 31, 2015 is presented below:

								Restricted
	Stock Options							Stock Units (RSUs)
				Weighted		Weighted				Weighted
				Average		Average				Average
				Exercise		Remaining				Remaining
				Price		Contract				Contract
	Shares			(per share)		Life (YRS)		Shares		Life (YRS)
June 30, 2014		654,158		$	2.25		5.5		856,300		0.9
Granted		103,000		$	1.35		9.6		219,000		2.6
Exercised		—			—		—		—		—
Cancelled/Forfeited		(30,763	)	$	3.32		3.0		—		—
March 31, 2015		726,395		$	2.08		5.5		1,075,300		1.0

Awards exercisable/vested as of March 31, 2015	501,895	$	2.43	4.1	671,430	—
Awards unexercisable/unvested as of March 31, 2015	224,500	$	1.29	8.8	403,870	1.0
	726,395				1,075,300

Schedule of Share Based Compensation Future Cost to be Recognized

We expect to recognize the compensation cost as follows:

			Restricted
			Stock
	Stock		Share/
	Options		Units		Total
Three months ended June 30, 2015	$	13,241	$	60,194	$	73,435
Year ended June 30, 2016		44,425		211,931		256,356
Year ended June 30, 2017		34,682		120,513		155,195
Year ended June 30, 2018		20,915		24,906		45,821
Year ended June 30, 2019		5,176		—		5,176
	$	118,439	$	417,544	$	535,983

Schedule of Activity of Unexerciseable and Unvested Awards

The following table is a summary of the number and weighted average grant date fair values regarding the Company’s unexercisable/unvested awards as of March 31, 2015 and changes during the nine months then ended:

	Stock Options						Total			Weighted-Average Grant Date Fair Values
Unexercisable/unvested awards	Shares			RSU Shares			Shares			(per share)
June 30, 2014		193,000			354,303			547,303		$	1.18
Granted		103,000			219,000			322,000		$	1.36
Vested		(71,500	)		(169,433	)		(240,933	)	$	1.32
Cancelled/Forfeited		—			—			—			—
March 31, 2015		224,500			403,870			628,370		$	1.23

Schedule of Financial Statement Effect Related to Share Based Compensation

The following table shows total stock-based compensation expense for the nine months ended March 31, 2015 and 2014 included in the consolidated statements of operations and comprehensive income:

	(Unaudited)		(Unaudited)
	Nine months ended		Nine months ended
	March 31,		March 31,
	2015		2014
Stock options	$	40,344	$	54,793
RSU		171,172		238,745
Total	$	211,516	$	293,538
The amounts above were included in:
General & administrative	$	203,215	$	285,237
Cost of sales		79		—
New product development		8,222		8,301
	$	211,516	$	293,538