EQUITY TRANSACTIONS

9 Months Ended

Mar. 31, 2014

EQUITY TRANSACTIONS [Abstract]

EQUITY TRANSACTIONS

NOTE 9 - EQUITY TRANSACTIONS

During the three and nine months ended March 31, 2014 and 2013, stock options to purchase shares of the Company's common stock were exercised as follows:

	Three-Months Ended						Nine-Months Ended
	March 31,						March 31,
	2014			2013			2014			2013
	(Unaudited)						(Unaudited)
Options exercised			13,125			46,945			13,125			50,445
Proceeds (in thousands)		$	46		$	40		$	47		$	42
Average exercise price per share		$	3.53		$	0.85		$	3.53		$	0.84

As of March 31, 2014, there was $497 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 2.86 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 and nine months ended March 31, 2014 and 2013, shares were repurchased as follows:

	Three-Months Ended						Nine-Months Ended
	March 31,						March 31,
	2014			2013			2014			2013
	(Unaudited)						(Unaudited)
Shares repurchased			-			25,360			136,441			25,360
Cash paid for shares repurchased (in thousands)		$	-		$	74		$	607		$	74
Average price paid per share		$	-		$	2.93		$	4.45		$	2.93

Total shares repurchased under the program are 161,801 shares at a cost of $0.7 million.  As of March 31, 2014, approximately $2.3 million remained of the Company's $3.0 million repurchase program.  Sharps purchased all shares with cash resources.