EQUITY TRANSACTIONS

12 Months Ended

Jun. 30, 2016

EQUITY TRANSACTIONS [Abstract]

EQUITY TRANSACTIONS

NOTE 6 - EQUITY TRANSACTIONS

During the years ended June 30, 2016, 2015 and 2014, stock options to purchase shares of the Company’s common stock were exercised as follows:

	Year Ended June 30,
	2016		2015		2014
Options Exercised		112,425		61,109		13,125
Proceeds (in thousands)	$	313	$	139	$	47
Average exercise price per share	$	2.77	$	2.30	$	3.53

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 at their discretion. On March 5, 2015, the Board approved a two-year extension of the stock repurchase program through January 1, 2017.

During the years ended June 30, 2016, 2015 and 2014, shares were repurchased as follows:

	Year Ended June 30,
	2016		2015		2014
Shares repurchased		104,365		29,449		136,441
Cash paid for shares repurchased (in thousands)	$	745	$	128	$	607
Average price paid per share	$	7.14	$	4.35	$	4.45

Total shares repurchased under the program are 295,615 shares at a cost of $1.6 million. As of June 30, 2016, approximately $1.4 million remained of the Company’s $3.0 million repurchase program. The Company purchased all shares with cash resources.