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STOCK OPTIONS (Tables)
 12 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
For the options granted in 2017 and 2016, the Company used the following weighted-average assumptions: 
 
 
2017
 
2016
Expected stock price volatility
 
54
%
 
50
%
Risk free interest rate
 
1.17
%
 
1.48
%
Expected dividend yield
 
—
%
 
4.00
%
Expected forfeitures
 
15.31
%
 
5.60
%
Expected life of options
 
5.9 years

 
4.5 years
Schedule of Share-based Compensation - Options Granted, Exercised, Cancelled, or Available for Exercise
The following table identifies options granted, exercised, canceled, or available for exercise pursuant to the 1990 Plan and the 2012 Plan: 
 
 
Number of
Shares
 
Stock
Options
Price Range
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life - Years
 
Aggregate
Intrinsic
Value of
In-The-
Money
Options
Shares under option at June 30, 2015
 
2,245,000

 
$2.24 - $13.09
 
$
5.33

 
3.69
 
$
1,676

Granted
 
410,000

 
$2.05 - $2.83
 
$
2.72

 
 
 
 
Exercised
 
—

 
—
 
$
—

 
 
 
 

Expired
 
(458,000
)
 
$3.00 - $13.09
 
$
6.25

 
 
 
 

Forfeited
 
(57,000
)
 
$3.00 - $6.00
 
$
4.34

 
 
 
 

Shares under option at June 30, 2016
 
2,140,000

 
$2.05 - $9.74
 
$
4.66

 
3.51
 
$
—

Granted
 
485,000

 
$2.20 - $2.42
 
$
2.33

 
 
 
 

Exercised
 
—

 
—
 
$
—

 
 
 
 

Expired
 
(372,000
)
 
$2.57 - $9.74
 
$
6.24

 
 
 
 

Forfeited
 
(73,000
)
 
$2.20 - $5.30
 
$
3.00

 
 
 
 

Shares under option at June 30, 2017
 
2,180,000

 
$2.05 - $7.76
 
$
3.93

 
3.47
 
$
—

Exercisable as of June 30, 2016
 
1,084,000

 
$2.24 - $9.74
 
$
5.57

 
2.47
 
$
—

Exercisable as of June 30, 2017
 
1,105,166

 
$2.05 - $7.76
 
$
4.88

 
2.28
 
$
—
Intrinsic Value and Cash Received from Stock Option Exercises and Fair Value of Vested Stock Options
A summary of intrinsic value and cash received from stock option exercises and fair value of vested stock options for the fiscal years ended June 30, 2017 and 2016 is as follows: 
 
 
2017
 
2016
Total intrinsic value of stock options exercised
 
$
—

 
$
—

Cash received from stock option exercises
 
$
—

 
$
—

Total fair value of stock options vested
 
$
461,720

 
$
583,727