26. STOCK OPTIONS (Tables)

12 Months Ended

Jun. 30, 2016

Company's non-vested employee stock options

A summary of the status of the Company’s non-vested employee stock options during the twelve months ended June 30, 2016 is presented below: 

				Weighted Average Grant-Date
	Options			Fair Value
Non-vested at July 1, 2015		17,500		$	1.69
Granted		40,000			—
Vested		(18,750	)		—
Forfeited					—
Non-vested at June 30, 2016		38,750		$	3.22

A summary of the status of the Company’s non-vested employee stock options during the twelve months ended June 30, 2015 is presented below:

			Weighted Average Grant-Date
	Options		Fair Value
Non-vested at July 1, 2014		26,250	$	1.69
Granted		—		—
Vested		8,750		—
Forfeited		—		—
Non-vested at June 30, 2015		17,500	$	1.69

2007 Employee Plan [Member]

Fair value weighted average assumptions

	For the Year Ended June 30,
	2016			2015
Expected volatility		60.41% to 104.94	%		71.44% to 104.94	%
Risk-free interest rate		0.30% to 0.78	%		0.30% to 0.78	%
Expected life (years)		2.50			2.50

Option activities

	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2015		130,000		$	3.93		1.57	$	13
Granted		40,000			3.26		-		-
Exercised		-			-		-		-
Forfeited or expired		(80,000	)		4.35		-		-
Outstanding at June 30, 2016		90,000		$	3.26		3.42	$	30
Exercisable at June 30, 2016		51,250		$	3.28		2.82	$	16

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2014		130,000	$	3.93		2.57	$	13
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at June 30, 2015		130,000	$	3.93		1.57	$	13
Exercisable at June 30, 2015		112,500	$	4.06		1.28	$	-

2007 Directors Equity Incentive Plan [Member]

Option activities

A summary of option activities under the 2007 Directors Plan during the twelve months ended June 30, 2016 is presented as follows:

	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2015		365,000		$	3.65		1.99	$	53
Granted		200,000			3.12
Exercised
Forfeited or expired		(150,000	)		4.35
Outstanding at June 30, 2016		415,000			3.14		3.29		198
Exercisable at June 30, 2016		415,000			3.14		3.29		198

A summary of option activities under the 2007 Directors Plan during the twelve months ended June 30, 2015 is presented as follows:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2014		315,000	$	3.62		2.63	$	24
Granted		50,000		3.81		—		—
Exercised		—		—		—		—
Forfeited or expired		—		—		—		—
Outstanding at June 30, 2015		365,000	$	3.65		1.99	$	53
Exercisable at June 30, 2015		365,000	$	3.65		1.99	$	53