STOCK OPTIONS (Tables)

3 Months Ended

Sep. 30, 2016

Fair value weighted average assumptions

	Three Months Ended September 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

Company's non-vested employee stock options

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

	Options		Weighted Average Grant-Date  Fair Value
Non-vested at July 1, 2016		38,750	$	3.22
Granted		-		-
Vested		-		-
Forfeited		-		-
Non-vested at September 30, 2016		38,750	$	3.22

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

	Options		Weighted Average Grant-Date  Fair Value
Non-vested at July 1, 2015		17,500	$	1.69
Granted		-		-
Vested		-		-
Forfeited		-		-
Non-vested at September 30, 2015		17,500	$	1.69

2007 Employee Plan [Member]

Option activities

A summary of option activities under the 2007 Employee Plan during the three months ended September 30, 2016 is presented as follows:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2016		90,000	$	3.26		3.42	$	30
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at September 30, 2016		90,000	$	3.26		3.17	$	31
Exercisable at September 30, 2016		51,250	$	3.28		2.57	$	17

A summary of option activities under the 2007 Employee Plan during the three months ended September 30, 2015 is presented as follows:

	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	$	-
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at September 30, 2015		130,000	$	3.93		1.32	$	-
Exercisable at September 30, 2015		112,500	$	4.06		1.03	$	-

2007 Directors Equity Incentive Plan [Member]

Option activities

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

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at July 1, 2016		415,000	$	3.14		3.29	$	198
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at September 30, 2016		415,000	$	3.14		3.04	$	204
Exercisable at September 30, 2016		415,000	$	3.14		3.04	$	204

A summary of option activities under the 2007 Directors Plan during the three months ended September 30, 2015 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	$	3.64		1.99	$	53
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at September 30, 2015		365,000	$	3.64		1.74	$	13