Stockholders' Equity (Tables)

6 Months Ended

Dec. 31, 2014

The following is a summary of option activity for our stock option plans:

	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life		Aggregate Intrinsic Value

Outstanding at June 30, 2014		1,253,035		$	2.08

Granted		1,369,250		$	1.26
Forfeited		(58,750	)	$	2.58
Expired		(169,500	)	$	3.43

Outstanding at December 31, 2014		2,394,035		$	1.50		4.9	$	27

Vested and Expected to Vest at December 31, 2014		1,998,831		$	1.50		4.7	$	26

Exercisable at December 31, 2014		731,254		$	1.67		2.3	$	21

Fair value weighted average assumptions

The fair value of the Company’s stock options granted for the six months ended December 31, 2014 was estimated using the following weighted-average assumptions:

Expected life (years)	4
Risk-free interest rate	1.37	%
Expected volatility	76	%
Dividend yield	0	%

Restricted stock activity granted to employees

The following is a summary of restricted stock activity during the six months ended December 31, 2014:

	Number of Shares			Weighted Average Grant Date Fair Value
Balance at June 30, 2014		803,799		$	1.90
Granted		--
Vested		(184,999	)	$	2.04
Forfeited		(10,791	)	$	1.39
Outstanding at December 31, 2014		608,009		$	2.12

Warrant activity

A summary of warrant activity for the six months ended December 31, 2014 follows:

	Number of Shares			Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Life
Beginning balance		5,113,420		$	2.21		4.1
Warrants granted		--			--
Warrants canceled		(61,020	)	$	2.15
Warrants exercised		--			--
Outstanding at December 31, 2014		5,052,400		$	2.21		3.6
Exercisable at December 31, 2014		5.052,400		$	2.21		3.6