3. STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Dec. 31, 2015

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

Stock option activity

The following tables summarize stock option activity for the six months ended December 31, 2015:

	Options Outstanding
	Number of Shares		Weighted Average Exercise Price		Weighted Average Contractual Life
Outstanding at June 30, 2015		1,079,079	$	1.43		8.46 years
Cancellations		(3,800)	$	3.00
Outstanding at December 31, 2015		1,075,279	$	1.42		7.95 years

Stock options outstanding by exercise price ranges

Information related to the stock options outstanding as of December 31, 2015 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
$	0.73		316,000		9.39	$	0.73		165,000	$	0.73
$	0.73		330,000		9.39	$	0.73		132,915	$	0.73
$	0.90		35,000		8.53	$	0.90		23,334	$	0.90
$	0.90		30,000		8.53	$	0.90		30,000	$	0.90
$	1.20		207,800		6.17	$	1.20		207,800	$	1.20
$	0.90		9,000		8.01	$	0.90		9,000	$	0.90
$	0.85		9,000		7.01	$	0.85		9,000	$	0.85
$	0.55		44,000		6.17	$	0.55		44,000	$	0.55
$	0.27		40,000		5.54	$	0.27		40,000	$	0.27
$	1.35		1,200		3.90	$	1.35		1,200	$	1.35
$	1.25		1,200		2.90	$	1.25		1,200	$	1.25
$	6.25		1,600		0.91	$	6.25		1,600	$	6.25
$	7.75		1,200		1.91	$	7.75		1,200	$	7.75
$	13.75		49,279		0.36	$	13.75		49,279	$	13.75
$	0.27–$13.75		1,075,279		7.96	$	1.42		715,528	$	1.77