EQUITY TRANSACTIONS

12 Months Ended

Jun. 30, 2014

EQUITY TRANSACTIONS [Abstract]

EQUITY TRANSACTIONS

NOTE 6 - EQUITY TRANSACTIONS

During the years ended June 30, 2014, 2013 and 2012, stock options to purchase shares of the Company’s common stock were exercised as follows:

	Year Ended June 30,
	2014		2013		2012
Options Exercised		13,125		100,445		89,443
Proceeds (in thousands)	$	47	$	162	$	65
Average exercise price per share	$	3.53	$	1.62	$	0.73

On January 7, 2013, the Company announced that its Board of Directors approved a stock repurchase program effective January 3, 2013, authorizing the Company to repurchase in the aggregate up to $3 million of its outstanding common stock over a two-year period.During the years ended June 30, 2014, 2013 and 2012, shares were repurchased as follows:

	Year Ended June 30,
	2014		2013		2012
Shares repurchased		136,441		25,360		-
Cash paid for shares repurchased (in thousands)	$	607	$	74	$	-
Average price paid per share	$	4.45	$	2.93	$	-

Total shares repurchased under the program are 161,801 shares at a cost of $0.7 million.  As of June 30, 2014, approximately $2.3 million remained of the Company’s $3.0 million repurchase program.  The Company purchased all shares with cash resources.