SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Mar. 31, 2017

SHARE-BASED COMPENSATION

Schedule of information about options

	2017		2016
Number of options awarded	199,618		30,000
Compensation expense recognized	$	146,000	$	280,000
Weighted average award-date fair value of options outstanding	$	4.06	$	5.67

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

	2017		2016
Risk-free interest rate	1.81	%	1.23	%
Dividend yield	0	%	0	%
Volatility factor	109	%	109	%
Expected life (years)	4.92		2.88

Summary of employee and director stock options issued and outstanding

	Options		Weighted Average Exercise Price	Weighted average remaining contractual term (years)	Aggregate intrinsic value
Options outstanding at July 1, 2016	1,016,997		5.03	3.19	—
Awarded	199,618		1.06
Exercised	(58,610	)	0.90
Forfeited	—		—
Expired	—		—
Options outstanding at March 31, 2017	1,158,005		4.06	2.29	396,462
Options exercisable at March 31, 2017	938,300		4.70	1.85	304,759

Schedule of stock options outstanding and exercisable

Options outstanding and exercisable as of March 31, 2017
Exercise Price		Outstanding Number of Shares	Remaining Life	Exercisable Number of Shares
$	0.40 – 4.00	245,525	Less than 1 year	225,525
$	0.40 – 4.00	57,916	1 year	57,916
$	0.40 – 4.00	136,296	2 years	136,296
$	0.40 – 4.00	256,720	3 years	256,720
$	0.40 – 4.00	241,110	4 years	41,405
$	4.01 – 10.00	118,188	Less than 1 year	118,188
$	4.01 – 10.00	4,062	1 year	4,062
$	4.01 – 10.00	7,000	3 years	7,000
$	10.00 – 20.00	13,125	Less than 1 year	13,125
$	10.00 – 20.00	17,500	3 years	17,500
$	20.00 – 30.00	2,500	Less than 1 year	2,500
$	20.00 – 30.00	28,500	3 years	28,500
$	30.00 – 40.00	12,500	Less than 1 year	12,500
$	30.00 – 40.00	13,313	3 years	13,313
$	40.00 – 48.72	3,750	3 years	3,750
		1,158,005		938,300