Stock Options (Tables)
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12 Months Ended |
Jun. 30, 2015 |
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| Employee 2012 Stock Option Plan [Member] |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The fair value of each option granted during fiscal 2015 and 2014 were estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: | | | 2015 | | 2014 | | | Risk-free interest rates | | 2.3% | | 2.7% | | | Expected lives | | 10 years | | 10 years | | | Expected volatility | | 54% | | 57% | | | Expected dividend yields | | 0% | | 0% | |
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| Schedule of Share-based Compensation, Stock Options, Activity |
The following table reflects activity under the 2012 Plan for the fiscal years ended June 30,: | | | 2015 | | 2014 | | | | | | | Weighted | | | | Weighted | | | | | | | average | | | | average | | | | | | | exercise | | | | exercise | | | | | Options | | price | | Options | | price | | | Outstanding, beginning of year | | | 78,500 | | $ | 5.73 | | | — | | $ | — | | | Granted | | | 44,000 | | | 4.43 | | | 78,500 | | | 5.73 | | | Terminated | | | (10,000) | | | 4.88 | | | — | | | — | | | Exercised | | | — | | | — | | | — | | | — | | | Outstanding, end of year | | | 112,500 | | $ | 5.30 | | | 78,500 | | $ | 5.73 | | | Exercisable, end of year | | | 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 | | $ | 73,360 | | | | | $ | 14,000 | | | | | | Total intrinsic value of options exercisable | | $ | 17,946 | | | | | $ | 3,000 | | | | | |
| 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 June 30, 2015: | | | Options outstanding | | Options exercisable | | | | | | | Weighted | | | | | | | | | | | | | average | | Weighted | | | | Weighted | | | Range of | | Number | | remaining | | average exercise | | Number | | average exercise | | | exercise prices | | outstanding | | contractual life | | price | | exercisable | | price | | | $4.29-$6.31 | | | 112,500 | | | 8.7 | | $ | 5.30 | | | 27,500 | | $ | 5.26 | | | | | | 112,500 | | | 8.7 | | $ | 5.30 | | | 27,500 | | $ | 5.26 | | |
| Non Employee 2012 Stock Option Plan [Member] |
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| 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: | | | 2015 | | 2014 | | | Risk-free interest rates | | 2.3% | | 2.7% | | | Expected lives | | 10 years | | 10 years | | | Expected volatility | | 54% | | 57% | | | Expected dividend yields | | 0% | | 0% | |
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| Schedule of Share-based Compensation, Stock Options, Activity |
The following table reflects activity under the 2012 Non-Employee Plan for the fiscal years ended June 30,: | | | 2015 | | 2014 | | | | | | | Weighted | | | | Weighted | | | | | | | average | | | | average | | | | | | | exercise | | | | exercise | | | | | Options | | price | | Options | | price | | | Outstanding, beginning of year | | | 25,000 | | $ | 4.88 | | | — | | $ | — | | | Granted | | | 10,000 | | | 4.37 | | | 25,000 | | | 4.88 | | | Terminated | | | — | | | — | | | — | | | — | | | Exercised | | | — | | | — | | | — | | | — | | | Outstanding, end of year | | | 35,000 | | $ | 4.73 | | | 25,000 | | $ | 4.88 | | | Exercisable, end of year | | | 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 | | $ | 35,000 | | | | | $ | 14,000 | | | | | | Total intrinsic value of options exercisable | | $ | 11,000 | | | | | $ | 3,000 | | | | | |
| 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 June 30, 2015: | | | Options outstanding | | Options exercisable | | | | | | | Weighted average | | Weighted | | | | Weighted | | | Range of | | Number | | remaining | | average exercise | | Number | | average exercise | | | exercise prices | | outstanding | | contractual life | | price | | exercisable | | price | | | $4.37 - $4.88 | | | 35,000 | | | 8.5 | | $ | 4.73 | | | 12,000 | | $ | 4.80 | | | | | | 35,000 | | | 8.5 | | $ | 4.73 | | | 12,000 | | $ | 4.80 | | |
| Employee Stock Option Plan 2002 [Member] |
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| Schedule of Share-based Compensation, Stock Options, Activity |
The following table reflects activity under the 2002 Employee plan for the fiscal years ended June 30,: | | | 2015 | | 2014 | | | | | | | Weighted average | | | | Weighted average | | | | | Options | | exercise price | | Options | | 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 | | | 208,500 | | $ | 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 | | $ | 6,000 | | | | | $ | 13,000 | | | | | | Total intrinsic value of options exercisable | | $ | 6,000 | | | | | $ | 13,000 | | | | | |
| 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 June 30, 2015: | | | Options outstanding and exercisable | | | Range of | | | | Weighted average | | Weighted | | | exercise | | Number | | remaining contractual | | average | | | prices | | outstanding | | life | | exercise price | | | $5.22-$6.62 | | | 171,000 | | | 1.2 | | $ | 5.92 | | | $11.16 | | | 37,500 | | | 0.7 | | | 11.16 | | | | | | 208,500 | | | 1.1 | | $ | 6.86 | | |