Stock Based Compensation (Tables)

12 Months Ended

Jun. 30, 2014

Stock Based Compensation Tables

Weighted average assumptions for Black-Scholes-Merton option pricing formula

	2013
Expected Term	4.96 years
Weighted average volatility	121.93%
Forfeiture rate	20.00%
Risk-free interest rate	2.02%
Expected dividend rate	0

Exercise prices for options and warrants granted and outstanding which resulted in stock based compensation charges

Exercise Price Range	Number of options or warrants
$0.25 - $0.50	100,000
$0.51 – $0.75	1,297,000
$0.76 - $1.00	-
$1.01 - $1.25	624,000
$1.26 - $2.00	32,500
$2.01 - $3.00	-
$3.01 - $4.00	1,462
$4.01 above	-
	2,054,962

Summary of non-vested options and warrants

Non-vested outstanding, June 30, 2012	624,173
Granted during fiscal year ending June 30, 2013	152,000
Vested during fiscal year ending June 30, 2013	(420,518)
Cancelled during fiscal year ending June 30, 2013	0
Non-vested outstanding, June 30, 2013	355,655
Granted during the quarter ending September 30, 2013	0
Vested during the quarter ending September 30, 2013	3,125
Cancelled during the quarter ending September 30, 2013	(317,529)
Non-vested outstanding, September 30, 2013	33,000
Granted during the quarter ending December 31, 2013	0
Vested during the quarter ending December 31, 2013	0
Cancelled during the quarter ending December 31, 2013	33,000
Non-vested outstanding, June 30, 2014	0

Shares of common stock reserved for future issuance

Stock based compensation:
Stock options outstanding	0
Stock warrants outstanding	0
Common shares to be issued under conversion feature	1,050,000
Common shares to be issued under $0.01 warrants	131,250
Common shares to be issued under $0.50 warrants	65,000
Total common shares reserved for future issuance	1,246,250