4. STOCK-BASED COMPENSATION

3 Months Ended

Sep. 30, 2016

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

STOCK-BASED COMPENSATION

Stock-based compensation costs recognized during the quarters ended September 30, 2016 and 2015 amounted to $60,901 and $100,323, respectively, and the costs were included in the accompanying consolidated statements of operations in: selling, general and administrative expenses (2016 - $42,915; 2015 - $36,257), research and development expenses (2016 - $9,317; 2015 - $29,391) and cost of goods sold (2016 - $8,669; 2015 - $34,675). No stock-based compensation has been capitalized because such amounts would have been immaterial.

There were no stock option grants in the quarter ended September 30, 2016.

Information related to the stock options outstanding as of September 30, 2016 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
$	0.27		40,000		4.79	$	0.27		40,000	$	0.27
$	0.48		60,000		9.50	$	0.48		20,000	$	0.48
$	0.50		100,000		8.73	$	0.50		20,000	$	0.50
$	0.55		37,000		5.36	$	0.55		37,000	$	0.55
$	0.73		603,000		8.63	$	0.73		402,000	$	0.73
$	0.85		9,000		6.26	$	0.85		9,000	$	0.85
$	0.90		9,000		7.26	$	0.90		9,000	$	0.90
$	0.95		65,000		7.78	$	0.95		65,000	$	0.95
$	1.20		207,800		5.42	$	1.20		207,800	$	1.20
$	1.25		1,200		2.15	$	1.25		1,200	$	1.25
$	1.35		1,200		3.15	$	1.35		1,200	$	1.35
$	6.25		1,600		0.16	$	6.25		1,600	$	6.25
$	7.75		1,200		1.16	$	7.75		1,200	$	7.75
$	0.27–$7.75		1,136,000		7.74	$	0.79		815,000	$	0.85

The aggregate intrinsic value of the Company’s “in-the-money” outstanding and exercisable options as of September 30, 2016 was $25,140.