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Stockholders' Equity
 12 Months Ended
Jun. 30, 2015
Equity [Abstract]  
Stockholders' Equity

11. Stockholders’ Equity

Retirement of Treasury Stock

During the fiscal years ended 2015 and 2014, the Company did not retire any shares of treasury stock.

During the fiscal year ended 2013, the Company retired 638,365 shares of treasury stock, with a carrying value of approximately $6.2 million. These retired shares are now included in the Company’s pool of authorized but unissued shares. The retired treasury stock was initially recorded using the cost method. The Company’s accounting policy upon the retirement of treasury stock is to deduct its par value from common stock, reduce additional paid-in capital by the amount recorded in additional paid-in capital when the stock was originally issued and any remaining excess of cost as a deduction (increase) of retained earnings (accumulated deficit).