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4. STOCK-BASED COMPENSATION
 9 Months Ended
Mar. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
4. STOCK-BASED COMPENSATION

Stock-based compensation costs recognized during the quarters ended March 31, 2013 and 2012 amounted to $52,898 and $34,260, respectively, and the costs were included in the accompanying consolidated statements of operations in: selling, general and administrative expenses (2013 - $50,440; 2012 - $33,360), research and development expenses (2013 - $550; 2012 - $0) and cost of goods sold (2013 - $1,908; 2012 - $900). Stock-based compensation costs recognized during the nine month periods ended March 31, 2013 and 2012 amounted to $73,913 and $52,160, respectively, and were included in the accompanying consolidated statements of operations in: selling, general and administrative expenses (2013 - $66,539; 2012 - $45,860), research and development expenses (2013 - $1,650; 2012 - $0) and cost of goods sold (2013 - $5,724; 2012 - $6,300). No compensation has been capitalized because such amounts would have been immaterial.  No income tax provision was recorded in the third quarter or first nine months of fiscal years 2013 or 2012 because of the losses generated or the availability of loss carryforwards to offset any anticipated taxable income.

 

There were no stock option grants or cancellations during the quarter ended March 31, 2013.

 

As of March 31, 2013, the unrecognized compensation costs related to options vesting of $167,442 will be recognized over a period of approximately 1.25 years.

 

Information related to the stock options outstanding as of March 31, 2013 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       8.93     $ 1.20       57,800     $ 1.20  
$ 0.85       9,000       9.76       0.85       9,000       0.85  
$ 0.55       51,000       8.87       0.55       20,334       0.55  
$ 0.27       40,000       8.29       0.27       20,000       0.27  
$ 1.35       1,200       6.65       1.35       1,200       1.35  
$ 1.25       1,200       5.66       1.25       1,200       1.25  
$ 6.25       1,600       3.67       6.25       1,600       6.25  
$ 7.75       1,200       4.66       7.75       1,200       7.75  
$ 11.50       800       2.67       11.50       800       11.50  
$ 13.75       50,427       3.11       13.75       50,427       13.75  
$ 20.75       37,360       2.21       20.75       37,360       20.75  
$ 0.27–$20.75       401,587       7.46     $ 4.48       200,921     $ 7.93  

 

The aggregate intrinsic value of the Company’s “in-the-money” outstanding and exercisable options as of March 31, 2013 was $11,200 and $5,600, respectively.