Stock Options (Tables)

9 Months Ended

Mar. 31, 2015

Employee Stock Option Plan 2002 [Member]

Schedule of Share-based Compensation, Stock Options, Activity

The following table reflects activity under the 2002 Employee plan for the nine months ended March 31,:

	2015				2014
	Options		Weighted average exercise price		Options		Weighted average exercise price
Outstanding, beginning of year		265,750	$	6.51		651,140	$	4.18
Granted		--		--		--		--
Terminated/Lapsed		(57,250)		5.24		(47,790)		1.74
Exercised		--		--		(337,600)		2.70
Outstanding, end of period		208,500	$	6.86		265,750	$	6.07
Exercisable, end of period		208,000	$	6.86		265,750	$	6.07
Weighted average fair value at grant date of options granted		n/a				n/a
Total intrinsic value of options exercised		n/a			$	1,399,000
Total intrinsic value of options outstanding	$	10,000			$	244,000
Total intrinsic value of options exercisable	$	10,000			$	244,000

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding under the 2002 Employee Plan at March 31, 2015:

	Options outstanding and exercisable
Range of exercise prices	Number outstanding		Weighted average remaining contractual life	Weighted average exercise price
$ 5.22 - $ 6.62		227,250	1.4	$	5.75
$11.16		37,500	1.0		11.16
		264,750	1.3	$	6.51

Employee 2012 Stock Option Plan [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of each option granted during fiscal 2015 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

Risk-free interest rates	2.3	%
Expected lives	10 years
Expected volatility	54	%
Expected dividend yields	0	%

Schedule of Share-based Compensation, Stock Options, Activity

The following table reflects activity under the 2012 Plan for the nine months ended March 31,:

	2015				2014
	Options		Weighted average exercise price		Options		Weighted average exercise price
Outstanding, beginning of year		78,500	$	5.73		—	$	—
Granted		44,000		4.43		78,500		5.73
Terminated/Lapsed		(10,000)		4.88		—		—
Exercised		—		—		—		—
Outstanding, end of period		112,500	$	5.30		78,500	$	5.73
Exercisable, end of period		27,500	$	5.26		15,700	$	5.73
Weighted average fair value at grant date of options granted	$	2.82			$	3.84
Total intrinsic value of options exercised		n/a				n/a
Total intrinsic value of options outstanding	$	78,000			$	85,000
Total intrinsic value of options exercisable	$	19,000			$	17,000

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding under the 2012 Employee Plan at March 31, 2015:

	Options outstanding						Options exercisable
Range of exercise prices	Number outstanding		Weighted average remaining contractual life		Weighted average exercise price		Number exercisable		Weighted average exercise price
$ 4.88 - $ 6.31		112,500		9.0	$	5.30		27,500	$	5.26
		112,500		9.0	$	5.30		27,500	$	5.26

Non Employee 2012 Stock Option Plan [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of each option granted during fiscal 2015 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

Risk-free interest rates	2.3	%
Expected lives	10 years
Expected volatility	54	%
Expected dividend yields	0	%

Schedule of Share-based Compensation, Stock Options, Activity

The following table reflects activity under the 2012 Non-Employee Plan for the nine months ended March 31,:

	2015				2014
	Options		Weighted average exercise price		Options		Weighted average exercise price
Outstanding, beginning of year		25,000	$	4.88		—	$	—
Granted		10,000		4.37		25,000		4.88
Terminated/Lapsed		—		—		—		—
Exercised		—		—		—		—
Outstanding, end of period		35,000	$	4.73		25,000	$	4.88
Exercisable, end of period		12,000	$	4.80		5,000	$	4.88
Weighted average fair value at grant date of options granted	$	2.86			$	3.30
Total intrinsic value of options exercised		n/a				n/a
Total intrinsic value of options outstanding	$	37,000			$	48,000
Total intrinsic value of options exercisable	$	12,000			$	10,000

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding under the 2012 Non-Employee Plan at March 31, 2015:

	Options outstanding						Options exercisable
Range of exercise prices	Number outstanding		Weighted average remaining contractual life		Weighted average exercise price		Number exercisable		Weighted average exercise price
$4.37 - $ 4.88		35,000		8.8	$	4.73		12,000	$	4.80
		35,000		8.8	$	4.73		12,000	$	4.80