SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Sep. 30, 2016

SHARE-BASED COMPENSATION

Schedule of information about options

	2016		2015
Number of options awarded	160,000		—
Compensation expense recognized	$	30,937	$	92,000
Weighted average award-date fair value of options outstanding	$	4.09	$	7.23

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

	2016		2015
Risk-free interest rate	0.47-1.14	%	N/A	%
Dividend yield	0	%	N/A	%
Volatility factor	109-155	%	N/A	%
Expected life (years)	1.0-4.98		N/A

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, 2016	1,016,997		$	5.03	$	—	3.19
Awarded	160,000		1.03
Exercised	(20,000	)	0.90
Forfeited	—		—
Expired	(31,250	)	21.01
Options outstanding at September 30, 2016	1,125,747		$	4.09	$	199,802	3.21
Options exercisable at September 30, 2016	888,146		$	4.95	$	133,749	2.77

Schedule of stock options outstanding and exercisable

Options outstanding and exercisable as of September 30, 2016
Exercise Price		Outstanding Number of Shares	Remaining Life	Exercisable Number of Shares
$	0.42-4.00	91,250	Less than1 year	91,250
$	0.42-4.00	78,855	2 years	78,855
$	0.42-4.00	197,390	3 years	197,390
$	0.42-4.00	328,954	4 years	313,963
$	0.42-4.00	222,610	5 years	—
$	4.01-10.00	90,438	1 year	90,438
$	4.01-10.00	5,562	2 years	5,562
$	4.01-10.00	18,250	4 years	18,250
$	10.01-20.00	3,125	Less than1 year	3,125
$	10.01-20.00	28,750	4 years	28,750
$	20.01-30.00	31,000	4 years	31,000
$	30.01-40.00	3,750	4 years	3,750
$	40.01-48.72	25,813	5 years	25,813
		1,125,747		888,146