STOCK OPTIONS (Tables) (Stock options)

6 Months Ended

Dec. 31, 2012

Stock options

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of information about options

	2012		2011
Number of options granted	448,644		1,069,480
Compensation expense recognized	$	2,109,000	$	2,424,000
Compensation cost capitalized	688,000		1,027,000
Weighted average fair value of options outstanding	$	1.26	$	2.49

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

	2012		2011
Risk-free interest rate	0.13-0.45	%	0.46-1.44	%
Dividend yield	0	%	0	%
Volatility factor	98-123	%	113-125	%
Expected life (years)	0.5-3.25		3

Summary of employee and director stock options issued and outstanding

	Options		Weighted Average Exercise Price		Aggregate intrinsic value		Weighted average remaining contractual term (years)
Options outstanding at year ended June 30, 2012	12,495,316		$	2.09	$	1,145,800	4.62
Granted	448,644		0.82
Exercised	(730,000	)	0.49
Forfeited	(1,401,438	)	3.63
Expired	(88,810	)	2.64
Options outstanding at December 31, 2012	10,723,712		$	1.94	$	282,300	4.15
Options exercisable at December 31, 2012	5,120,429		$	2.12	$	108,683	4.15

Schedule of stock options outstanding and exercisable

Options outstanding and exercisable as of December 31, 2012
Exercise Price		Outstanding Number of Shares	Remaining Life	Exercisable Number of Shares
$	0.00 — 1.00	86,677	1 year	86,677
$	0.00 — 1.00	2,913,635	2 years	1,251,968
$	0.00 — 1.00	1,875,033	5 years	—
$	1.01 — 2.00	1,271,000	2 years	1,271,000
$	1.01 — 2.00	780,667	7 years	540,667
$	2.01 — 3.00	77,000	4 years	—
$	2.01 — 3.00	280,000	8 years	250,000
$	3.01 — 4.00	840,000	4 years	220,000
$	3.01 — 4.00	511,000	8 years	445,167
$	4.01 — 5.00	616,200	4 years	288,700
$	4.01 — 5.00	1,142,500	8 years	571,250
$	5.01 — 6.00	100,000	1 year	100,000
$	5.01 — 6.00	110,000	8 years	50,000
$	6.01 — 7.00	30,000	8 years	15,000
$	7.01 — 8.00	90,000	8 years	30,000
		10,723,712		5,120,429

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

	2012
Risk-free interest rate	0.42	%
Dividend yield	0	%
Volatility factor	129	%
Expected life (years)	2.5-3.2