STOCK OPTIONS (Tables)

3 Months Ended

Sep. 30, 2012

Fair value for the options granted

A summary of option activities under the 2007 Employee Plan during the three month period ended September 30, 2012 is presented as follows:

	Options			Weighted- Average Exercise Price			Weighted - Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2012		313,000		$	3.85			2.31	$	-
Granted		-		$	-			-		-
Exercised		-			-			-		-
Forfeited or expired		(3,000	)		(4.76	)		2.88		-
Outstanding at September 30, 2012		310,000		$	3.85			2.05	$	-
Exercisable at September 30, 2012		267,750		$	3.77			1.86	$	-

Option activities

A summary of the status of the Company’s non-vested employee stock options during the three months ended September 30, 2012 is presented below:

				Weighted-Average Grant-Date
	Options			Fair Value
Non-vested at July 1, 2012		43,250		$	3.29
Granted		-			-
Vested		-			-
Forfeited		(1,000	)		3.16
Non-vested at September 30, 2012		42,250		$	3.29

Companys non-vested employee stock options

A summary of option activities under the 2007 Directors Plan during the three months ended September 30, 2012 is presented as follows:

	Options		Weighted- Average Exercise Price		Weighted - Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2012		385,000	$	4.52		2.45	$	-
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at September 30, 2012		385,000	$	4.52		2.20	$	-
Exercisable at September 30, 2012		385,000	$	4.52		2.20	$	-