STOCK OPTIONS (Tables) (Stock options)

9 Months Ended

Mar. 31, 2013

Stock options

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of information about options

	2013		2012
Number of options granted	577,281		2,350,000
Compensation expense recognized	$	2,241,000	$	3,682,000
Compensation cost capitalized	767,000		1,444,000
Weighted average fair value of options outstanding	$	1.22	$	1.51

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

	2013		2012
Risk-free interest rate	0.11-0.53	%	0.11-1.44	%
Dividend yield	0	%	0	%
Volatility factor	98-123	%	110-129	%
Expected life (years)	0.5-3.25		0.25-3.00

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	577,281		0.80
Exercised	(760,000	)	0.49
Forfeited	(1,910,848	)	3.44
Expired	(294,310	)	3.90
Options outstanding at March 31, 2013	10,107,439		$	1.83	$	305,900	3.61
Options exercisable at March 31, 2013	5,260,067		$	2.04	$	127,000	3.53

Schedule of stock options outstanding and exercisable

Options outstanding and exercisable as of March 31, 2013

Exercise Price		Outstanding Number of Shares	Remaining Life	Exercisable Number of Shares
$	0.00 – 1.00	3,038,949	1 year	1,568,115
$	0.00 – 1.00	1,717,623	4 years	—
$	1.01 – 2.00	1,296,000	1 year	1,296,000
$	1.01 – 2.00	755,667	7 years	515,668
$	2.01 – 3.00	77,000	4 years	25,667
$	2.01 – 3.00	280,000	8 years	250,000
$	3.01 – 4.00	840,000	3 years	240,000
$	3.01 – 4.00	388,000	8 years	322,167
$	4.01 – 5.00	145,700	1 year	145,700
$	4.01 – 5.00	545,000	3 years	247,500
$	4.01 – 5.00	828,500	8 years	464,250
$	5.01 – 6.00	105,000	8 years	95,000
$	6.01 – 7.00	30,000	8 years	30,000
$	7.01 – 8.00	60,000	1 year	60,000
		10,107,439		5,260,067

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