Compensatory Equity Incentive Plan and Other Equity Incentives (Tables)

6 Months Ended

Dec. 31, 2015

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

Schedule of share based compensation award plans

These plans are summarized below:

			Award Shares		Available for
			Outstanding		Issuance
	Award Shares		at December 31,		at December 31,
Equity Compensation Arrangement	Authorized		2015		2015
Amended and Restated Omnibus Incentive Plan		3,915,625		2,144,432		1,131,903
Employee Stock Purchase Plan		400,000		—		395,298
		4,315,625		2,144,432		1,527,201

Schedule of stock options grant date fair value assumptions

For stock options granted in the six month periods ended December 31, 2015 and 2014, the Company estimated the fair value of each stock option as of the date of grant using the following assumptions:

	Six months ended	Six month ended
	December 31, 2015	December 31, 2014
Expected volatility	68% - 103%	103%
Weighted average expected volatility	68% - 103%	103%
Dividend yields	0%	0%
Risk-free interest rate	0.37% - 1.49%	1.77%
Expected term, in years	4.29 - 7.50	7.50

Schedule of share based compensation awards activity

A summary of the activity for share-based compensation awards in the six months ended December 31, 2015 is presented below:

								Restricted
	Stock Options							Stock Units (RSUs)
				Weighted		Weighted				Weighted
				Average		Average				Average
				Exercise		Remaining				Remaining
				Price		Contract				Contract
	Shares			(per share)		Life (YRS)		Shares		Life (YRS)
June 30, 2015		722,483		$	2.08		5.3		1,075,300		0.9
Granted		150,592		$	1.48		9.8		236,495		2.8
Exercised		(2,700	)	$	1.05		3.0		—		—
Cancelled/Forfeited		(37,738	)	$	2.76		—		—		—
December 31, 2015		832,637		$	1.95		5.9		1,311,795		1.1
Awards exercisable/
vested as of
December 31, 2015		643,637		$	2.13		5.2		803,526		—
Awards unexercisable/
unvested as of
December 31, 2015		189,000		$	1.33		8.6		508,269		1.1
		832,637							1,311,795

Schedule of share based compensation future cost to be recognized

As of December 31, 2015, there was $664,681 of total unrecognized compensation cost related to non-vested share-based compensation arrangements (including share options and restricted stock units) granted under the Plan. We expect to recognize the compensation cost as follows:

			Restricted
			Stock
	Stock		Share/
	Options		Units		Total
Six months ended June 30, 2016	$	24,168	$	149,896	$	174,064
Year ended June 30, 2017		41,429		237,187		278,616
Year ended June 30, 2018		27,661		141,580		169,241
Year ended June 30, 2019		11,923		29,153		41,076
Year ended June 30, 2020		1,684		—		1,684
	$	106,865	$	557,816	$	664,681

Schedule of unexerciseable and unvested awards

The following table is a summary of the number and weighted average grant date fair values regarding our unexercisable/unvested awards as of December 31, 2015 and changes during the six months then ended:

Unexercisable/unvested awards	Stock Options Shares			RSU Shares			Total Shares			Weighted-Average Grant Date Fair Values (per share)
June 30, 2015		224,500			403,870			628,370		$	1.23
Granted		150,592			236,495			387,087		$	1.39
Vested		(186,092	)		(132,096	)		(318,188	)	$	1.28
Cancelled/Forfeited		—			—			—			—
December 31, 2015		189,000			508,269			697,269		$	1.30

Schedule of financial statement effect related to share based compensation

The following table shows total stock-based compensation expense for the six months ended December 31, 2015 and 2014 included in the consolidated statements of comprehensive income (loss):

	(Unaudited)		(Unaudited)
	Six months ended		Six months ended
	December 31,		December 31,
	2015		2014
Stock options	$	25,041	$	27,106
RSU		149,546		110,969
Total	$	174,587	$	138,075
The amounts above were included in:
General & administrative	$	173,662		133,042
Cost of sales		158		—
New product development		767		5,033
	$	174,587		138,075