EQUITY TRANSACTIONS

12 Months Ended

Jun. 30, 2017

EQUITY TRANSACTIONS [Abstract]

EQUITY TRANSACTIONS

NOTE 6 - EQUITY TRANSACTIONS

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. On March 5, 2015, the Board approved a two-year extension of the stock repurchase program through January 1, 2017. The program has not been extended.During the years ended June 30, 2017, 2016 and 2015, shares were repurchased as follows:

	Year Ended June 30,
	2017		2016		2015
Shares repurchased		-		104,365		29,449
Cash paid for shares repurchased (in thousands)	$	-	$	745	$	128
Average price paid per share	$	-	$	7.14	$	4.35

Total shares repurchased under the program are 295,615 shares at a cost of $1.6 million.