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2. STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jun. 30, 2013

Equity [Abstract]

Assumptions for awards of options granted

		Awards Granted in the Years Ended

			June 30, 2013				June 30, 2012
Dividend yield			0	%			0	%
Expected volatility			62	%			62	%
Weighted-average volatility			62	%			62	%
Risk-free interest rate			2	%			2	%
Expected life of options (in years)			2.5				3.75
Weighted average grant-date Black Scholes calculated fair value		$	0.20			$	0.31

Stock option activity

										Weighted Average
						Weighted Average				Remaining				Aggregate				Aggregate
		Number of				Exercise Price				Contractual				Fair				Instrinsic
		Shares				Per Share				Term (1)				Value (3)				Value (2)

Outstanding July 1, 2012			674,100			$	0.80				4.58			$	217,100			$	—
Granted			425,000				0.50				5.00				84,800				—
Exercised			—				—				—				—				—
Forfeited, expired or cancelled			(15,000	)			1.83				—				(5,800	)			—
Outstanding June 30, 2013			1,084,100			$	0.67				4.18			$	296,100			$	—
Exercisable June 30, 2013			1,084,100			$	0.67				4.18			$	296,100			$	—

(1) Remaining contractual term presented in years.

(2) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the closing price of the Company's common stock as of June 30, 2013, for those awards that have an exercise price currently below the closing price as of June 30, 2013 of $0.44.

(3) Aggregate Fair Value is calculated using the Black Scholes option pricing model to estimate fair value of stock-based compensation.

Warrant activity

					Weighted
			Number of		Average
			Shares		Exercise Price
Warrants Outstanding, June 30, 2012			150,400	$	6.24
	Granted		-		-
	Exercised		-		-
	Canceled/Expired		(55,300)		12.44
Warrants Outstanding, June 30, 2013			95,100	$	2.64

Tabular disclosure of the freestanding option contracts issued by an entity that are indexed to, and potentially settled in, an entity's own stock. Includes disclosure on the strike price and the number of shares to which the contract is indexed, the settlement date or dates of the contract, and the issuer's accounting for the contract. If the terms of the contract provide settlement alternatives, those settlement alternatives are disclosed, including who controls the settlement alternatives, and the maximum number of shares that could be required to be issued, to net share settle the contract, if applicable. If a contract does not have a fixed or determinable maximum number of shares that could be required to be issued, the fact that a potentially infinite number of shares that may be required to be issued to settle the contract is disclosed. Disclosure also includes the contract's current fair value for each settlement alternative and how changes in the price of the issuer's equity instruments affect those settlement amounts.

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