COMMON STOCK AND COMMON STOCK WARRANTS	9 Months Ended
Mar. 31, 2013
Common Stock Warrants and Options [Abstract]
COMMON STOCK AND COMMON STOCK WARRANTS	7. COMMON STOCK AND COMMON STOCK WARRANTS Under the 2010 Stock Incentive Plan, the Company recorded stock compensation expense of $15,074 and $65,058 and issued 500 and 12,441 shares of Common stock during the three and nine months ended March 31, 2013. The fiscal year to date expenses for the vesting of shares of Common Stock as of March 31, 2013 related to the following: $29,375 for shares granted under employment agreements entered into with its executive officers in April 2011; $14,921 for shares granted to Directors of the Company in June 2011 and March 2012; $19,038 for shares issued to Company Directors in lieu of cash payment; and $1,724 for shares granted to an employee. In July 2012, the Board of Directors accepted the recommendation of the Compensation Committee that each of the three non-employee Directors who joined the Board after March 31, 2012 receive a stock award of 10,000 shares of Common Stock. Under the 2011 Stock Incentive Plan (the “2011 Plan”) 30,000 shares of Common Stock were awarded with a grant date fair value of $1.45 per share, and vest as follows: 9,999 on August 10, 2012; 9,999 on August 10, 2013; and, 10,002 on August 10, 2014. Under the 2011 Plan the Company recorded stock compensation expense of $28,697 and $140,392 and issued 10,454 and 89,165 shares of Common stock during the three and nine months ended March 31, 2013, respectively. The fiscal year to date expenses for the vesting of shares of Common Stock as of March 31, 2013 related to the following: $44,532 for shares granted under employment agreements entered into with its executive officers in September 2011; $38,160 of expenses related to vesting of shares granted to employees in April 2012; $28,999 of expenses related to vesting of shares granted to Directors of the Company in July 2012; and $28,701 for shares issued to Company Directors in lieu of cash payment. In September 2012, the Board of Directors accepted the recommendation of the Compensation Committee granted and 71,429 shares of Common Stock with a grant date fair value of $100,000 to its Chief Executive Officer (“CEO Incentive Plan”) under the 2012 Stock Incentive Plan (the “2012 Plan”) to vest over a period of up to three years based on performance of the Company’s Common Stock. In October 2012, the Company adopted a plan pursuant to which up to 60,000 shares of Common stock would be awarded to employees based on various performance targets of the Company for the 2013 fiscal year. The Company recorded stock compensation expense of $105,238 and $163,783 and issued 46,696 and 218,694 shares of Common Stock during the three and nine months ended March 31, 2013. The fiscal year to date expenses for the vesting of shares of Common Stock as of March 31, 2013 related to the following: $33,334 for shares granted to an executive officer in September 2012 under the CEO Incentive Plan and which become vested in March 2013; $102,261 for shares issued to Company Directors in lieu of cash payment; and $28,188 for shares granted to employees in October 2012. 58,599 shares of Common Stock were issued to Company Directors in lieu of cash payment for compensation for services to the Company in the nine months ended March 31, 2013. 136,285 shares of Common Stock were issued to its executive officers under the Fiscal Year 2012 Performance Share Plan (the “2012 Performance Plan”) after the filing of the Company’s form 10-K on September 26, 2012; and, 23,810 shares of Common Stock were issued for the CEO Incentive Plan which became vested in March 2013. On September 5, 2012, at the recommendation of the Compensation Committee, the board of directors adopted the Fiscal Year 2013 Performance Share Plan (the “2013 Performance Plan”) covering the Company’s executive officers. Under the 2013 Performance Plan, each executive officer would be awarded common stock in the event the Company achieves certain performance goals during the fiscal year ending June 30, 2013. The metrics under the 2013 Performance Plan as well as the relative weightings of these metrics are identical to those originally set forth in the 2012 Performance Plan. No awards would be made under the 2013 Performance Plan if either (i) none of the minimum, threshold performance target goals has been achieved, or (ii) if operating earnings for the 2013 fiscal year are not equal or better than those during the 2012 fiscal year. If all of the target goals are achieved under the 2013 Performance Plan, the executive officers would be awarded shares having the following value: Mr. Herbert – $275,000; and Mr. DeMedio – $100,000. If all of the minimum, threshold performance target goals are achieved, the executive officers would be awarded shares having the following value: Mr. Herbert – $75,000; and Mr. DeMedio – $25,000. If all of the maximum, distinguished performance target goals are achieved, the executive officers would be awarded shares having the following value: Mr. Herbert – $550,000; and Mr. DeMedio – $200,000. If the actual results for the fiscal year are less than the target goals (but greater than the minimum, threshold performance target goals), each executive would be awarded a lesser pro rata number of shares from the target goal, if actual results are between target and maximum, then a pro rata number of shares between target and maximum is earned, and if actual results are above maximum (distinguished) than pro rata shares above maximum is earned. As of September 5, 2012 and through March 31, 2013, there were not sufficient shares for the maximum awards available under the existing 2012 stock incentive plan or another stock plan that had been approved by the shareholders of the Company. Therefore, in accordance with ASC Topic 718, “Stock Compensation”, this award is accounted for as a liability of the Company. As of March 31, 2013 and for the three and nine months then ended the Company recorded a liability as if the award will be settled in cash of $42,200 and recorded an expense reversal and expense of $45,537 and $42,200, respectively, as its estimate of the award earned by Messrs. Herbert and DeMedio. As of March 31, 2012, the Company recorded a liability of $114,117, and expense for the three and nine months then ended of $47,549 and $114,117, respectively, for the 2012 Performance Plan. During the three and nine months ended March 31, 2012, the Company recorded stock compensation expense of $83,300 and $510,797, and issued 5,480 and 195,278 shares of Common Stock, respectively. The 2012 fiscal year to date expenses for the vesting of shares of Common Stock as of March 31, 2012 related to the following: $109,980 of expense associated with severance for our former CEO; $124,842 and $210,186 for grants to the executive officers in April and September 2011, respectively; $6,991 of expenses related to vesting of shares granted to employees in June 2011; $43,798 of expenses related to vesting of shares granted to Directors of the Company in June 2011; and $15,000 for shares issued to Company Directors in lieu of cash payment. In the nine months ended March 31, 2012, executive officers exercised their right to cancel shares of common stock awarded to them under prior employment agreements and the 2012 Performance Plan for the payment of payroll taxes. In total 64,847 shares of the Company’s Common Stock were cancelled to satisfy $121,052 of related payroll obligations. Warrants to purchase up to 291,432 shares of Common Stock, issued in conjunction with the 2009 Rights Offering, exercisable at $2.20 per share expired unexercised on August 6, 2012; and, warrants to purchase up to 17,532 shares of Common Stock, issued in 2007, exercisable at $7.70 per share expired unexercised on October 17, 2012. Warrants issued under the 2010 Public Offering were exercised in the nine months ended March 31, 2013, resulting in the issuance of 96,086 shares of Common Stock at $1.13; in addition, broker-dealers exercised warrants issued through the 2010 Public and Rights Offerings resulting in the issuance of 17,094 shares of Common stock and the cancellation of 19,092 warrants for the cashless exercises.

7. COMMON STOCK AND COMMON STOCK WARRANTS

Under the 2010 Stock Incentive Plan, the Company recorded stock compensation expense of $15,074 and $65,058 and issued 500 and 12,441 shares of Common stock during the three and nine months ended March 31, 2013. The fiscal year to date expenses for the vesting of shares of Common Stock as of March 31, 2013 related to the following: $29,375 for shares granted under employment agreements entered into with its executive officers in April 2011; $14,921 for shares granted to Directors of the Company in June 2011 and March 2012; $19,038 for shares issued to Company Directors in lieu of cash payment; and $1,724 for shares granted to an employee.

In July 2012, the Board of Directors accepted the recommendation of the Compensation Committee that each of the three non-employee Directors who joined the Board after March 31, 2012 receive a stock award of 10,000 shares of Common Stock. Under the 2011 Stock Incentive Plan (the “2011 Plan”) 30,000 shares of Common Stock were awarded with a grant date fair value of $1.45 per share, and vest as follows: 9,999 on August 10, 2012; 9,999 on August 10, 2013; and, 10,002 on August 10, 2014. Under the 2011 Plan the Company recorded stock compensation expense of $28,697 and $140,392 and issued 10,454 and 89,165 shares of Common stock during the three and nine months ended March 31, 2013, respectively. The fiscal year to date expenses for the vesting of shares of Common Stock as of March 31, 2013 related to the following: $44,532 for shares granted under employment agreements entered into with its executive officers in September 2011; $38,160 of expenses related to vesting of shares granted to employees in April 2012; $28,999 of expenses related to vesting of shares granted to Directors of the Company in July 2012; and $28,701 for shares issued to Company Directors in lieu of cash payment.

In September 2012, the Board of Directors accepted the recommendation of the Compensation Committee granted and 71,429 shares of Common Stock with a grant date fair value of $100,000 to its Chief Executive Officer (“CEO Incentive Plan”) under the 2012 Stock Incentive Plan (the “2012 Plan”) to vest over a period of up to three years based on performance of the Company’s Common Stock. In October 2012, the Company adopted a plan pursuant to which up to 60,000 shares of Common stock would be awarded to employees based on various performance targets of the Company for the 2013 fiscal year. The Company recorded stock compensation expense of $105,238 and $163,783 and issued 46,696 and 218,694 shares of Common Stock during the three and nine months ended March 31, 2013. The fiscal year to date expenses for the vesting of shares of Common Stock as of March 31, 2013 related to the following: $33,334 for shares granted to an executive officer in September 2012 under the CEO Incentive Plan and which become vested in March 2013; $102,261 for shares issued to Company Directors in lieu of cash payment; and $28,188 for shares granted to employees in October 2012. 58,599 shares of Common Stock were issued to Company Directors in lieu of cash payment for compensation for services to the Company in the nine months ended March 31, 2013. 136,285 shares of Common Stock were issued to its executive officers under the Fiscal Year 2012 Performance Share Plan (the “2012 Performance Plan”) after the filing of the Company’s form 10-K on September 26, 2012; and, 23,810 shares of Common Stock were issued for the CEO Incentive Plan which became vested in March 2013.

On September 5, 2012, at the recommendation of the Compensation Committee, the board of directors adopted the Fiscal Year 2013 Performance Share Plan (the “2013 Performance Plan”) covering the Company’s executive officers. Under the 2013 Performance Plan, each executive officer would be awarded common stock in the event the Company achieves certain performance goals during the fiscal year ending June 30, 2013. The metrics under the 2013 Performance Plan as well as the relative weightings of these metrics are identical to those originally set forth in the 2012 Performance Plan. No awards would be made under the 2013 Performance Plan if either (i) none of the minimum, threshold performance target goals has been achieved, or (ii) if operating earnings for the 2013 fiscal year are not equal or better than those during the 2012 fiscal year.

If all of the target goals are achieved under the 2013 Performance Plan, the executive officers would be awarded shares having the following value: Mr. Herbert – $275,000; and Mr. DeMedio – $100,000. If all of the minimum, threshold performance target goals are achieved, the executive officers would be awarded shares having the following value: Mr. Herbert – $75,000; and Mr. DeMedio – $25,000. If all of the maximum, distinguished performance target goals are achieved, the executive officers would be awarded shares having the following value: Mr. Herbert – $550,000; and Mr. DeMedio – $200,000. If the actual results for the fiscal year are less than the target goals (but greater than the minimum, threshold performance target goals), each executive would be awarded a lesser pro rata number of shares from the target goal, if actual results are between target and maximum, then a pro rata number of shares between target and maximum is earned, and if actual results are above maximum (distinguished) than pro rata shares above maximum is earned.

As of September 5, 2012 and through March 31, 2013, there were not sufficient shares for the maximum awards available under the existing 2012 stock incentive plan or another stock plan that had been approved by the shareholders of the Company. Therefore, in accordance with ASC Topic 718, “Stock Compensation”, this award is accounted for as a liability of the Company. As of March 31, 2013 and for the three and nine months then ended the Company recorded a liability as if the award will be settled in cash of $42,200 and recorded an expense reversal and expense of $45,537 and $42,200, respectively, as its estimate of the award earned by Messrs. Herbert and DeMedio.

As of March 31, 2012, the Company recorded a liability of $114,117, and expense for the three and nine months then ended of $47,549 and $114,117, respectively, for the 2012 Performance Plan.

During the three and nine months ended March 31, 2012, the Company recorded stock compensation expense of $83,300 and $510,797, and issued 5,480 and 195,278 shares of Common Stock, respectively. The 2012 fiscal year to date expenses for the vesting of shares of Common Stock as of March 31, 2012 related to the following: $109,980 of expense associated with severance for our former CEO; $124,842 and $210,186 for grants to the executive officers in April and September 2011, respectively; $6,991 of expenses related to vesting of shares granted to employees in June 2011; $43,798 of expenses related to vesting of shares granted to Directors of the Company in June 2011; and $15,000 for shares issued to Company Directors in lieu of cash payment.

In the nine months ended March 31, 2012, executive officers exercised their right to cancel shares of common stock awarded to them under prior employment agreements and the 2012 Performance Plan for the payment of payroll taxes. In total 64,847 shares of the Company’s Common Stock were cancelled to satisfy $121,052 of related payroll obligations.

Warrants to purchase up to 291,432 shares of Common Stock, issued in conjunction with the 2009 Rights Offering, exercisable at $2.20 per share expired unexercised on August 6, 2012; and, warrants to purchase up to 17,532 shares of Common Stock, issued in 2007, exercisable at $7.70 per share expired unexercised on October 17, 2012. Warrants issued under the 2010 Public Offering were exercised in the nine months ended March 31, 2013, resulting in the issuance of 96,086 shares of Common Stock at $1.13; in addition, broker-dealers exercised warrants issued through the 2010 Public and Rights Offerings resulting in the issuance of 17,094 shares of Common stock and the cancellation of 19,092 warrants for the cashless exercises.