BASIS OF PRESENTATION

6 Months Ended

Dec. 31, 2014

BASIS OF PRESENTATION [Abstract]

BASIS OF PRESENTATION

NOTE 2 - BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and with instructions to Form 10-Q and, accordingly, do not include all information and footnotes required under accounting principles generally accepted in the United States of America for complete financial statements.  In the opinion of management, these interim condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the consolidated financial position of the Company as of December 31, 2014, the results of its operations for the three and six months ended December 31, 2014 and 2013, cash flows for the six months ended December 31, 2014 and 2013, and stockholders’ equity for the six months ended December 31, 2014. The results of operations for the three and six months ended December 31, 2014 are not necessarily indicative of the results to be expected for the entire fiscal year ending June 30, 2015.  These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended June 30, 2014.