EQUITY TRANSACTIONS

3 Months Ended

Sep. 30, 2015

EQUITY TRANSACTIONS [Abstract]

EQUITY TRANSACTIONS

NOTE 9 - EQUITY TRANSACTIONS

During the three months ended September 30, 2015 and 2014, stock options to purchase shares of the Company’s common stock were exercised as follows:

	Three-Months Ended September 30,
	2015		2014
	(Unaudited)
Options Exercised		101,425		-
Proceeds (in thousands)	$	268	$	-
Average exercise price per share	$	2.64	$	-

As of September 30, 2015, there was $0.6 million of stock option and restricted stock compensation expense related to non-vested awards which is expected to be recognized over a weighted average period of 2.95 years.

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 $3.0 million of its outstanding common stock over a two-year period.  On March 5, 2015, the Board approved a two-year extension on the stock repurchase program through January 1, 2017. During the three months ended September 30, 2015 and 2014, shares were repurchased as follows:

	Three-Months Ended
	September 30,
	2015		2014
	(Unaudited)
Shares repurchased		-		29,449
Cash paid for shares repurchased (in thousands)	$	-	$	128
Average price paid per share	$	-	$	4.35

Total shares repurchased under the program are 191,250 shares at a cost of $0.8 million.  As of September 30, 2015, approximately $2.2 million remained of the Company’s $3.0 million repurchase program.  Sharps purchased all shares with cash resources.