STOCK OPTIONS

6 Months Ended

Dec. 31, 2012

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 14 - STOCK OPTIONS

On March 31, 2011, the Company’s Compensation Committee approved the cancellation of all those outstanding unvested options granted to officers and directors and former officers on March 1, 2010 and February 7, 2010 under the 2009 Equity Incentive Plan.

There were no issuances of stock options during the three months ended December 31, 2012 and 2011.

Options outstanding as of December 31, 2012 and related weighted average price and intrinsic value are as follows:

			Weighted
			Average
	Number		Exercise		Aggregate
	of Shares		Price		Intrinsic Value
Outstanding, June 30, 2012		115,099	$	14.66	$	-
Granted		-
Forfeited/Cancelled		-
Exercised		-
Outstanding, December 31, 2012		115,099	$	14.66	$	-