XML 35 R21.htm IDEA: XBRL DOCUMENT v3.5.0.2
Stockholders' Equity (Tables)
12 Months Ended
Jun. 30, 2016
Stockholders' Equity Note [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes vested and unvested stock option activity:
 
 
 
All Options
 
Vested Options
 
Unvested Options
 
 
 
 
 
Weighted
 
 
 
Weighted
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
Average
 
 
 
Average
 
 
 
 
 
Exercise
 
 
 
Exercise
 
 
 
Exercise
 
 
 
Shares
 
Price
 
Shares
 
Price
 
Shares
 
Price
 
Outstanding at July 1, 2014
 
 
1,888,851
 
$
1.27
 
 
1,526,130
 
$
1.21
 
 
362,721
 
$
1.53
 
Granted
 
 
577,985
 
 
1.04
 
 
495,000
 
 
1.07
 
 
82,985
 
 
0.86
 
Options vesting
 
 
-
 
 
-
 
 
235,124
 
 
1.51
 
 
(235,124)
 
 
1.51
 
Exercised
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Forfeited/Cancelled
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Outstanding at June 30, 2015
 
 
2,466,836
 
 
1.22
 
 
2,256,254
 
 
1.21
 
 
210,582
 
 
1.29
 
Granted
 
 
520,982
 
 
0.83
 
 
299,750
 
 
0.77
 
 
221,232
 
 
0.68
 
Options vesting
 
 
-
 
 
-
 
 
226,798
 
 
0.87
 
 
(226,798)
 
 
0.87
 
Exercised
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Forfeited/Cancelled
 
 
(270,625)
 
 
1.04
 
 
(265,469)
 
 
1.03
 
 
(5,156)
 
 
1.80
 
Outstanding at June 30, 2016
 
 
2,717,193
 
$
1.16
 
 
2,517,333
 
$
1.17
 
 
199,860
 
$
1.06
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table presents the assumptions used to estimate the fair values based upon a Black-Scholes option pricing model of the stock options granted during the years ended June 30, 2016 and 2015.
 
 
 
Years Ended June 30,
 
 
 
2016
 
 
2015
 
Expected dividend yield
 
 
0
%
 
 
0
%
Risk-free interest rate
 
 
1.17% - 1.87
%
 
 
1.54% - 1.86
%
Expected life (in years)
 
 
5 - 6
 
 
 
5 - 6
 
Expected volatility
 
 
80% - 84
%
 
 
80% - 89
%
Schedule of Share-based Compensation, by Exercise Price Range
Additional information regarding stock options outstanding and exercisable as of June 30, 2016 is as follows:
 
Option
 
 
 
Remaining
 
 
 
Exercise
 
Options
 
Contractual
 
Options
 
Price
 
Outstanding
 
Life (in years)
 
Exercisable
 
$
0.59
 
 
8,150
 
 
9.66
 
 
-
 
 
0.60
 
 
5,000
 
 
9.62
 
 
-
 
 
0.65
 
 
6,150
 
 
8.36
 
 
3,588
 
 
0.70
 
 
225,000
 
 
9.44
 
 
225,000
 
 
0.77
 
 
59,500
 
 
8.14
 
 
44,667
 
 
0.80
 
 
16,000
 
 
9.15
 
 
16,000
 
 
0.90
 
 
25,667
 
 
9.10
 
 
15,000
 
 
1.00
 
 
370,890
 
 
2.72
 
 
358,942
 
 
1.02
 
 
287,000
 
 
4.08
 
 
287,000
 
 
1.05
 
 
108,445
 
 
8.90
 
 
103,519
 
 
1.07
 
 
53,898
 
 
6.30
 
 
53,898
 
 
1.09
 
 
166,165
 
 
9.90
 
 
43,750
 
 
1.10
 
 
255,000
 
 
9.01
 
 
255,000
 
 
1.15
 
 
228,000
 
 
6.61
 
 
228,000
 
 
1.20
 
 
31,414
 
 
7.89
 
 
23,561
 
 
1.25
 
 
32,000
 
 
6.63
 
 
32,000
 
 
1.30
 
 
263,000
 
 
4.68
 
 
263,000
 
 
1.50
 
 
380,000
 
 
1.56
 
 
380,000
 
 
1.75
 
 
1,067
 
 
7.58
 
 
800
 
 
1.80
 
 
169,425
 
 
7.23
 
 
158,423
 
 
1.85
 
 
24,000
 
 
6.89
 
 
24,000
 
 
1.97
 
 
1,422
 
 
7.40
 
 
1,185
 
Total
 
 
2,717,193
 
 
 
 
 
2,517,333
 
Schedule of Other Share-based Compensation, Activity
The following table summarizes warrant activity:
 
 
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
Number of
 
Exercise
 
 
 
Warrants
 
Price
 
Outstanding, June 30, 2014
 
 
904,998
 
$
1.73
 
Granted
 
 
-
 
 
-
 
Exercised
 
 
-
 
 
-
 
Expired/Cancelled
 
 
(599,998)
 
 
1.26
 
Outstanding, June 30, 2015
 
 
305,000
 
 
1.26
 
Granted
 
 
1,785,000
 
 
1.25
 
Exercised
 
 
-
 
 
-
 
Expired/Cancelled
 
 
(100,000)
 
 
1.22
 
Outstanding, June 30, 2016
 
 
1,990,000
 
$
1.25
 
Exercisable, June 30, 2015
 
 
305,000
 
$
1.26
 
Exercisable, June 30, 2016
 
 
1,990,000
 
$
1.25
 
Schedule of Stockholders' Equity Note, Warrants or Rights
Additional information regarding warrants outstanding and exercisable as of June 30, 2016 is as follows:
 
 
 
 
 
Remaining
 
 
 
Warrant
 
Warrants
 
Contractual
 
Warrants
 
Exercise Price
 
Outstanding
 
Life (in years)
 
Exercisable
 
$1.19
 
 
100,000
 
 
5.48
 
 
100,000
 
1.25
 
 
1,885,000
 
 
4.95
 
 
1,885,000
 
3.50
 
 
2,500
 
 
-
 
 
2,500
 
4.00
 
 
2,500
 
 
-
 
 
2,500
 
Total
 
 
1,990,000
 
 
 
 
 
1,990,000
 
Schedule of Nonvested Restricted Stock Units Activity
The following table summarizes restricted common stock activity:
 
 
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
Number of
 
Grant Date
 
 
 
Shares
 
Fair Value
 
Non-vested, June 30, 2014
 
 
227,827
 
 
1.72
 
Granted
 
 
647,353
 
 
0.86
 
Vested
 
 
(138,433)
 
 
1.75
 
Forfeited
 
 
-
 
 
-
 
Non-vested, June 30, 2015
 
 
736,747
 
 
0.96
 
Granted
 
 
414,366
 
 
0.76
 
Vested
 
 
(444,471)
 
 
0.99
 
Forfeited
 
 
-
 
 
-
 
Non-vested, June 30, 2016
 
 
706,642
 
$
0.82