SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Mar. 31, 2015

SHARE-BASED COMPENSATION

Schedule of information about options

The following table provides information about options during the nine months ended March 31, 2015 and 2014:

	2015		2014
Number of options granted	101,106		7,421
Compensation expense recognized	$	526,000	$	537,000
Weighted average fair value of options outstanding	$	7.13	$	7.36

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

The following table details the significant assumptions used to compute the fair market values of employee and director stock options granted during the nine month periods ended March 31, 2015 and 2014:

	2015		2014
Risk-free interest rate	0.05-0.12	%	0.08-0.90	%
Dividend yield	0	%	0	%
Volatility factor	65-216	%	74-95	%
Expected life (years)	0.5		0.5-3.25

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 July 1, 2014	1,441,727		$	8.76	$	8,327	3.14
Granted	101,106		3.25
Exercised	—		—
Forfeited	(474,353	)	3.82
Expired	(211,776	)	10.81
Options outstanding at March 31, 2015	856,704		$	10.34	$	—	2.92
Options exercisable at March 31, 2015	614,146		$	12.94	$	7	2.56

Schedule of stock options outstanding and exercisable

Options outstanding and exercisable as of March 31, 2015

Exercise Price		Outstanding Number of Shares	Remaining Life	Exercisable Number of Shares
$	1.92-4.00	121,067	1 year	121,067
$	1.92-4.00	95,764	3 years	38,171
$	1.92-4.00	232,706	4 years	78,856
$	4.01-10.00	49,749	1 year	49,749
$	4.01-10.00	111,251	2 years	84,167
$	4.01-10.00	16,437	3 years	13,031
$	4.01-10.00	30,500	5 years	30,500
$	10.01-20.00	1,250	1 year	1,250
$	10.01-20.00	1,875	2 years	1,250
$	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	6 years	31,625
$	30.01-40.00	79,000	1 year	79,000
$	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
		856,704		614,146