SHARE-BASED COMPENSATION (Tables)

6 Months Ended

12 Months Ended

Dec. 31, 2016

Jun. 30, 2016

	2016		2015
Number of options awarded	178,500		30,000
Compensation expense recognized	$	106,000	$	189,000
Weighted average award-date fair value of options outstanding	$	4.08	$	5.67

	2016		2015
Number of options granted		183,860		476,106
Compensation expense recognized	$	352,653	$	643,980
Compensation cost capitalized		—		—
Weighted average grant-date fair value of options outstanding	$	5.03	$	5.13

	Options		Weighted Average Exercise Price		Aggregate intrinsic value		Weighted average remaining contractual term (years)
Options outstanding at July 1, 2016	1,016,997		$	5.03	$	—	3.19
Awarded	178,500		1.06
Exercised	(20,000	)	0.90
Forfeited	—		—
Expired	(16,250	)	34.43

Options outstanding at December 31, 2016	1,159,247		$	4.08	$	883,620	2.54

Options exercisable at December 31, 2016	959,550		$	4.72	$	646,342	2.09

	Options			Weighted Average Share Price		Aggregate intrinsic value		Weighted average remaining contractual life (years)
Options outstanding at July 1, 2014		1,441,727		$	8.76	$	8,327		3.14
Granted		476,106			1.40
Exercised		—			—
Forfeited		(517,853	)		4.21
Expired		(218,026	)		10.71

Options outstanding at June 30, 2015		1,181,954		$	7.43	$	—		3.39

Granted		183,860			0.54
Exercised		—			—
Forfeited		(39,175	)		1.39
Expired		(309,642	)		12.01

Options outstanding at June 30, 2016		1,016,997		$	5.03	$	—		3.19


Options exercisable at June 30, 2016		919,396		$	5.50	$	—		3.00

Options outstanding and exercisable as of December 31, 2016
Exercise Price		Outstanding Number of Shares	Remaining Life	Exercisable Number of Shares
$	0.41-4.00	245,525	Less than1 year	245,525
$	0.41-4.00	57,916	1 year	57,916
$	0.41-4.00	136,296	2 years	136,296
$	0.41-4.00	226,720	3 years	226,720
$	0.41-4.00	112,610	4 years	71,405
$	0.41-4.00	158,492	5 years	—
$	4.01-10.00	79,563	Less than 1 year	79,563
$	4.01-10.00	38,625	1 year	38,625
$	4.01-10.00	4,062	2 years	4,062
$	4.01-10.00	7,000	3 years	7,000
$	10.01-20.00	13,125	Less than 1 year	13,125
$	10.01-20.00	17,500	4 years	17,500
$	20.01-30.00	3,750	Less than 1 year	3,750
$	20.01-30.00	28,500	4 years	28,500
$	30.01-40.00	12,500	Less than 1 year	12,500
$	30.01-40.00	13,313	5 years	13,313
$	40.01-48.72	3,750	4 years	3,750

		1,159,247		959,550

Options outstanding and exercisable as of June 30, 2016

Exercise Price	Outstanding Number of Shares		Remaining Life	Exercisable Number of Shares
$0.42 - 4.00		71,250	1 year		71,250
$0.42 - 4.00		78,855	2 years		78,855
$0.42 - 4.00		197,390	3 years		197,390
$0.42 - 4.00		348,954	4 years		333,963
$0.42 - 4.00		82,610	5 years		—
$4.01 - 10.00		97,938	1 year		97,938
$4.01 - 10.00		9,000	2 years		9,000
$4.01 - 10.00		4,062	3 years		4,062
$4.01 - 10.00		18,250	4 years		18,250
$10.01 - 20.00		1,875	1 year		1,875
$10.01 - 20.00		28,750	4 years		28,750
$20.01 - 30.00		1,250	1 year		1,250
$20.01 - 30.00		31,000	4 years		31,000
$30.01 - 40.00		16,250	1 year		16,250
$30.01 - 40.00		25,813	5 years		25,813
$40.01 - 50.00		3,750	5 years		3,750

		1,016,997			919,396

Options outstanding and exercisable as of June 30, 2015

Exercise Price	Outstanding Number of Shares		Remaining Life	Exercisable Number of Shares
$0.90 - 4.00		121,067	1 year		121,067
$0.90 - 4.00		88,264	3 years		68,842
$0.90 - 4.00		217,707	4 years		187,716
$0.90 - 4.00		375,000	5 years		—
$4.01 - 10.00		43,498	1 year		43,498
$4.01 - 10.00		107,126	2 years		106,502
$4.01 - 10.00		13,062	3 years		10,281
$4.01 - 10.00		22,000	5 years		22,000
$10.01 - 20.00		1,250	1 year		1,250
$10.01 - 20.00		1,875	2 years		1,875
$10.01 - 20.00		28,750	5 years		28,750
$20.01 - 30.00		16,667	1 year		16,667
$20.01 - 30.00		1,250	2 years		1,250
$20.01 - 30.00		31,625	5 years		31,625
$30.01 - 40.00		74,000	1 year		74,000
$30.01 - 40.00		27,563	6 years		27,563
$40.01 - 50.00		6,250	1 year		6,250
$40.01 - 50.00		5,000	6 years		5,000

		1,181,954			754,136