5. STOCK-BASED COMPENSATION (Tables)

6 Months Ended

12 Months Ended

Dec. 31, 2012

Jun. 30, 2012

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

Assumptions for fair value of options granted

	Year Ended
	June 30, 2012
Assumptions:
Option life		5.3 years
Risk-free interest rate		3.00%
Stock volatility		480%
Dividend yield		0
Weighted average fair value of grants	$	1.07

Stock option activity

	Options Outstanding
	Number of Shares			Weighted Average Exercise Price		Weighted Average Contractual Life
Outstanding at July 1, 2010		94,378		$	15.98		5.49 years
Cancellations		(240	)		13.75
Outstanding at June 30, 2011		94,138		$	15.97		4.50 years
Grants		506,600			0.27-1.20
Cancellations		(208,151	)		0.55-13.75
Outstanding at June 30, 2012		392,587		$	4.56		8.15 years

Information related to the stock options outstanding

Information related to the stock options outstanding as of December 31, 2012 is as follows:

Range of Exercise Prices		Number of Shares		Weighted-Average Remaining Contractual Life (years)		Weighted-Average Exercise Price		Exercisable Number of Shares		Exercisable Weighted-Average Exercise Price
$	1.20		207,800		9.17	$	1.20		32,800	$	1.20
$	0.55		51,000		9.12		0.55		20,334		0.55
$	0.27		40,000		8.54		0.27		20,000		0.27
$	1.35		1,200		6.90		1.35		1,200		1.35
$	1.25		1,200		5.90		1.25		1,200		1.25
$	6.25		1,600		3.91		6.25		1,600		6.25
$	7.75		1,200		4.91		7.75		1,200		7.75
$	11.50		800		2.91		11.50		800		11.50
$	13.75		50,427		3.36		13.75		50,427		13.75
$	20.75		37,360		2.46		20.75		37,360		20.75
	$0.27–$20.75		392,587		7.65	$	4.56		166,921	$	9.32

Range of Exercise Prices		Number of Shares		Weighted-Average Remaining Contractual Life (years)		Weighted-Average Exercise Price		Exercisable Number of Shares		Exercisable Weighted-Average Exercise Price
$	1.20		207,800		9.68	$	1.20		32,800	$	1.20
$	0.55		51,000		9.62		0.55		20,334		0.55
$	0.27		40,000		9.04		0.27		13,333		0.27
$	1.35		1,200		7.41		1.35		1,200		1.35
$	1.25		1,200		6.41		1.25		1,200		1.25
$	6.25		1,600		4.42		6.25		1,600		6.25
$	7.75		1,200		5.41		7.75		1,200		7.75
$	11.50		800		3.42		11.50		800		11.50
$	13.75		50,427		3.86		13.75		50,427		13.75
$	20.75		37,360		2.96		20.75		37,360		20.75
	$0.27–$20.75		392,587		8.15	$	4.56		160,254	$	9.38

Issuance of restricted stock in settlement of liabilities for deferred compensation and professional services

	Increase (Decrease)
Accrued Employee Compensation	$	(504,645	)
Accounts Payable	$	(170,000	)
Total Current Liabilities	$	(674,645	)
Total Stockholders’ Equity (Deficit)	$	674,645