GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible asset balances

	Beginning		Year ended June 30, 2016						Ending
($ in thousands)	Balance		Additions/						Balance		Amortization
	July 1, 2015		Adjustments			Amortization			June 30, 2016		Period
Intangible Assets:
Trademarks - Indefinite	$	432	$	(432	)(1)	$	-		$	-	Indefinite
Non-compete agreements		-		2			(1	)		1	2 years
Brand		-		95			(16	)		79	3 years
Developed technology		-		639			(63	)		576	5 years
Customer relationships		-		149			(7	)		142	10 years
Total Intangible Assets	$	432	$	453		$	(87	)	$	798
Goodwill		7,663		4,040			-			11,703	Indefinite
Total Intangible Assets & Goodwill	$	8,095	$	4,493		$	(87	)	$	12,501

	Beginning		Year ended June 30, 2015				Ending
($ in thousands)	Balance		Additions/				Balance		Amortization
	July 1, 2014		Adjustments		Amortization		June 30, 2015		Period
Intangible assets:
Trademarks - Indefinite	$	432		-		-	$	432	Indefinite
Total Intangible Assets	$	432	$	-	$	-	$	432
Goodwill		7,663		-		-		7,663	Indefinite
Total	$	8,095	$	-	$	-	$	8,095

(1) The Company’s test for impairment of its indefinite-lived trademarks consists of the trademarks: 1) VendingMiser, 2) CoolerMiser, 3) PlugMiser and 4) SnackMiser. As a result of its testing in fiscal years ended June 30, 2015 and 2014 the Company determined that no impairment had occurred. In the testing in fiscal year 2016, the Company determined that the sum of the expected discounted cash flows attributable to the trademarks was less than its carrying value of $432 thousand, and that an impairment write-down was required. The fair value of the trademarks was determined by a method known as “relief from royalty”, in which the fair value is determined by reference to the amount of royalty income the intangible would generate if it were licensed in an arm’s-length transaction. The essential assumptions in a valuation via an income approach are as follows:

· The related dollar sales volume;

· The percentage royalty on sales;

· The adjustment for taxes;

· The remaining useful economic life;

· The percentage return on investment; and,

· The tax amortization benefit.

Schedule of amortizable intangible asset

($ in thousands)	Cost		Accumulated Amortization			Net Book Value
Non-compete agreements	$	2	$	(1	)	$	1
Brand		95		(16	)	$	79
Developed Technology		639		(63	)	$	576
Customer Relationships		149		(7	)	$	142
	$	885	$	(87	)	$	798

Schedule of estimated annual amortization expense

2017	$	175
2018		175
2019		159
2020		143
2021		79
Thereafter		67
	$	798