STOCK OPTIONS

12 Months Ended

Jun. 30, 2014

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

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

NOTE 11– STOCK OPTIONS

There were no issuances of stock options during the years ended June 30, 2014, 2013 and 2012.

Options outstanding and related weighted average price and intrinsic value are as follows:

			Weighted
			Average
	Number		Exercise		Aggregate
	of Shares		Price		Intrinsic Value
Outstanding, June 30, 2011		115,099		14.66		-
Granted		-
Forfeited/Canceled		-
Exercised		-
Outstanding, June 30, 2012		115,099		14.66		-
Granted		-
Forfeited/Canceled		-
Exercised		-
Outstanding, June 30, 2013		115,099		14.66		-
Granted		-
Forfeited/Canceled		-
Exercised		-
Outstanding, June 30, 2014		115,099		14.66		-

The following table summarizes the options outstanding and exercisable as of June 30, 2014:

Options Outstanding and Exercisable
						Weighted
				Weighted		Average
		Number Outstanding		Average		Remaining
Range of		and Exercisable as of		Exercise		Contractual Life
Exercise Price		June 30, 2014		Price		(Years)
$	14.02-14.70		115,099	$	14.66		0.50