EQUITY TRANSACTIONS

3 Months Ended

Sep. 30, 2013

EQUITY TRANSACTIONS [Abstract]

EQUITY TRANSACTIONS

NOTE 9 - EQUITY TRANSACTIONS

During the three months ended September 30, 2013 and 2012, stock options to purchase shares of the Company’s common stock were exercised as follows:

	Three-Months Ended
	September 30,
	2013		2012
	(Unaudited)
Options exercised		-		3,500
Proceeds (in thousands)	$	-	$	2
Average exercise price per share	$	-	$	0.68

As of September 30, 2013, there was $293 thousand of stock option and restricted stock compensation expense related to non-vested awards which is expected to be recognized over a weighted average period of 2.79 years.

On January 7, 2013, the Company announced that its Board of Directors approved a stock repurchase program effective January 3, 2013, authorizing the Company to repurchase in the aggregate up to $3 million of its outstanding common stock over a two-year period.During the three months ended September 30, 2013 and 2012, shares were repurchased as follows:

	Three-Months Ended
	September 30,
	2013		2012
	(Unaudited)
Shares repurchased		19,000		-
Cash paid for shares repurchased (in thousands)	$	52	$	-
Average price paid per share	$	2.71	$	-

Total shares repurchased under the program are 44,360 shares at a cost of $0.1 million.  As of September 30, 2013, approximately $2.9 million remained of the Company’s $3.0 million repurchase program.  Sharps purchased all shares with cash resources.