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STOCK OPTIONS (Notes)
9 Months Ended
Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Options
STOCK OPTIONS
 
The Company recognizes stock-based compensation expense for options granted under both the 1990 Flexible Incentive Plan and the 2012 Omnibus Incentive Plan. The stock-based compensation relates to stock options granted to employees, non-employee directors and non-employee consultants. In the nine months ended March 31, 2017, options to purchase 485,000 shares were granted under the 2012 Omnibus Incentive Plan at a weighted average exercise price of $2.33. In the nine months ended March 31, 2016, options to purchase 410,000 shares were granted under the 2012 Omnibus Incentive Plan at a weighted average exercise price of $2.72. Stock-based compensation expense during the three and nine months ended March 31, 2017 was $88,523 and $265,568, respectively. Stock-based compensation expense during the three and nine months ended March 31, 2016 was $121,257 and $366,665, respectively.