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WARRANTS

3 Months Ended

Sep. 30, 2015

10. WARRANTS

During the three months ended September 30, 2015, warrants were exercised at $2.6058 per share resulting in the issuance of 11,000 shares of common stock with proceeds of $29 thousand. There were no exercises, issuances or expiration of warrants during the three months ended September 30, 2014. There have been no new warrants issued since January 2013.

Warrant activity for the three-month period ended September 30, 2015 was as follows:


	Warrants
Outstanding at June 30, 2015		4,309,000
Issued		-
Exercised		(11,000	)
Expired		-
Outstanding at September 30, 2015		4,298,000