STOCK OPTIONS AND WARRANTS (Tables)

12 Months Ended

Jun. 30, 2013

	2013		2012		2011

Number of options granted		247,197		534,182		363,315
Compensation expense recognized	$	2,615,498	$	5,024,825	$	2,175,625
Compensation cost capitalized		809,309		1,745,344		973,730
Weighted average fair value of options outstanding	$	8.68	$	16.72	$	14.80

Schedule of significant assumptions used to compute the fair market values of employee and director stock options granted


Risk-free interest rate	0.07 - 0.96	%	0.11 - 0.91	%	1.11 - 2.68	%
Dividend yield	0	%	0	%	0	%
Volatility factor	80 - 123	%	105 - 129	%	91 - 146	%
Expected life (years)	0.5 - 3.5		0.25 - 3.25		0.9 - 6.0

Summary of employee stock options issued and outstanding

			Weighted Average Share Price		Aggregate intrinsic value

Outstanding at year ended July 1, 2010	1,006,095		$	7.28	$	2,589,600	6.20
Granted	363,315			33.20
Exercised	(107,327	)		8.80
Forfeited	(54,757	)		7.20
Expired	(47,970	)		17.92

Outstanding at year ended June 30, 2011	1,159,356		$	14.80	$	23,558,086	5.65

Granted	534,182			20.56
Exercised	(100,625	)		6.64
Forfeited	(31,000	)		44.08

Options outstanding at year ended June 30, 2012	1,561,913		$	16.72	$	1,145,800	4.62

Granted	247,197			4.49
Exercised	(95,000	)		3.92
Forfeited	(272,583	)		25.66
Expired	(80,018	)		24.61

Options outstanding at year ended June 30, 2013	1,361,509			13.12	$	52,277	3.26

Options exercisable at year ended June 30, 2013	756,461		$	16.16	$	12,000	3.22

Schedule of stock options outstanding and exercisable

Options outstanding and exercisable as of June 30, 2013

Exercise Price

$1.92 - 4.00	292,500	1 year	122,083
$1.92 - 4.00	174,071	5 years	6,250
$4.01 - 10.00	149,479	1 year	149,479
$4.01 - 10.00	190,684	4 years	46,270
$4.01 - 10.00	46,125	7 years	46,125
$10.01 - 15.00	106,375	1 year	106,375
$10.01 - 15.00	15,000	4 years	12,500
$15.01 - 20.00	20,000	7 years	18,333
$20.01 - 25.00	14,875	1 year	12,375
$20.01 - 25.00	17,875	7 years	17,875
$25.01 - 30.00	102,500	1 year	27,500
$25.01 - 30.00	33,750	7 years	28,333
$30.01 - 35.00	28,338	1 year	28,338
$30.01 - 35.00	38,125	3 years	19,063
$30.01 - 35.00	64,312	8 years	64,312
$35.01 - 40.00	44,375	3 years	28,125
$40.01 - 45.00	11,875	1 year	11,875
$40.01 - 45.00	11,250	7 years	11,250

	1,361,509		756,461

Options outstanding and exercisable as of June 30, 2012

Exercise Price

$0.01 - 8.00	5,000	1 year or less	5,000
$0.01 - 8.00	453,334	2 years	205,104
$0.01 - 8.00	230,431	5 years	—
$8.01 - 16.00	158,875	2 years	143,833
$8.01 - 16.00	3,750	5 years	—
$8.01 - 16.00	93,833	8 years	67,583
$16.01 - 24.00	9,625	5 years	—
$16.01 - 24.00	35,000	8 years	24,375
$24.01 - 32.00	123,750	4 years	—
$24.01 - 32.00	63,875	8 years	37,979
$32.01 - 40.00	147,875	4 years	—
$32.01 - 40.00	195,315	9 years	78,907
$40.01 - 48.00	12,500	1 year or less	12,500
$40.01 - 48.00	13,750	9 years	6,250
$48.01 - 56.00	3,750	9 years	1,875
$56.01 - 64.00	11,250	9 years	3,750

	1,561,913		587,156

Schedule of significant assumptions used to compute the fair market values of stock options classified as liability awards



Risk-free interest rate	0.42	%
Dividend yield	0	%
Volatility factor	129	%
Expected life (years)	2.5 - 3.2

Schedule of significant assumptions used to calculate the fair market value of a warrant



Risk-free interest rate	0.17	%
Dividend yield	0	%
Volatility factor	114	%
Expected life (months)	12



Risk-free interest rate	0.15	%
Dividend yield	0	%
Volatility factor	105	%
Expected life (months)	14

Summary of common stock warrants issued and outstanding

			Weighted Average Share Price		Aggregate intrinsic value

Outstanding at year ended July 1, 2010	1,383,141		$	10.00	$	1,168,000	3.93
Granted	—			—
Exercised	(888,304	)		9.60
Expired	(12,500	)		32.00

Outstanding at year ended June 30, 2011	482,337		$	10.08	$	11,737,345	3.03

Granted	1,250,000			28.00
Exercised	(53,750	)		7.20
Expired	—			—

Outstanding at year ended June 30, 2012	1,678,587		$	23.52	$	—	1.08

Granted	6,375			7.84
Exercised	—			—
Expired	(1,250,000	)		28.00

Outstanding at year ended June 30, 2013	434,962			10.40		—	1.02

Schedule of warrants outstanding and exercisable

Warrants outstanding and exercisable as of June 30, 2013

Exercise Price

$7.20	351,250	1 year	351,250
$7.84	7,729	1 year	7,729
$12.64	25,983	2 years	25,983
$32.00	50,000	1 year	50,000

	434,962		434,962

Warrants outstanding and exercisable as of June 30, 2012

Exercise Price

$7.20	351,250	2 years	351,250
$7.84	1,354	2 years	1,354
$12.64	25,983	3 years	25,983
$28.00	1,250,000	Less than1 year	—
$32.00	50,000	2 years	50,000

	1,678,587		428,587

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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