FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Dec. 31, 2016

Fair value of restricted stock units granted, amortized over 24 month vesting period

Schedule of assets at fair value

	Carrying Value		Quoted prices in active markets (Level 1)		Other quoted/observable inputs (Level 2)		Significant unobservable inputs (Level 3)
December 31, 2016:
Money market account		11,939,046		11,939,046		-		-
TOTAL	$	11,939,046	$	11,939,046	$	-	$	-
June 30, 2016:
Money market account		7,782,243		7,782,243		-		-
TOTAL	$	7,782,243	$	7,782,243	$	-	$	-