EQUITY TRANSACTIONS

6 Months Ended

Dec. 31, 2014

EQUITY TRANSACTIONS [Abstract]

EQUITY TRANSACTIONS

NOTE 9 - EQUITY TRANSACTIONS

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

	Three-Months Ended				Six-Months Ended
	December 31,				December 31,
	2014		2013		2014		2013
	(Unaudited)				(Unaudited)
Options exercised		10,250		-		10,250		-
Proceeds (in thousands)	$	21	$	-	$	21	$	-
Average exercise price per share	$	2.12	$	-	$	2.12	$	-

As of December 31, 2014, there was $0.8 million 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 3.19 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 $3.0 million of its outstanding common stock over a two-year period. During the three and six months ended December 31, 2014 and 2013, shares were repurchased as follows:

	Three-Months Ended				Six-Months Ended
	December 31,				December 31,
	2014		2013		2014		2013
	(Unaudited)				(Unaudited)
Shares repurchased		-		117,441		29,449		136,441
Cash paid for shares repurchased (in thousands)	$	-	$	555	$	128	$	607
Average price paid per share	$	-	$	4.73	$	4.35	$	4.45

Total shares repurchased under the program are 191,250 shares at a cost of $0.8 million.  As of December 31, 2014, approximately $2.2 million remained of the Company’s $3.0 million repurchase program.  Sharps purchased all shares with cash resources.