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STOCK BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of stock based compensation plans |
Date Approved |  | Name of Plan |  | Type of Plan |  | Authorized Shares |
June 2013 |  | 2013 Stock Incentive Plan |  | Stock |  |  | 500,000 |
June 2014 |  | 2014 Stock Option Incentive Plan |  | Stock Options |  |  | 750,000 |
June 2015 |  | 2015 Equity Incentive Plan |  | Stock & Stock Options |  |  | 1,250,000 |
|  |  |  |  |  |  | 2,500,000 |
Schedule of common stock for future issuance |
Exercise of Common Stock Warrants |  |  | 2,445,653 |
Conversions of Preferred Stock and cumulative Preferred Stock dividends |  |  | 99,999 |
Issuance under 2013 Stock Incentive Plan |  |  | 162,330 |
Issuance under 2014 Stock Option Incentive Plan |  |  | 737,215 |
Issuance under 2015 Stock Incentive Plan |  |  | 1,250,000 |
Issuance to former Chief Executive Officer upon the occurrence of a USA Transaction |  |  | 140,000 |
Total shares reserved for future issuance |  |  | 4,835,197 |
Schedule of stock option granted weighted average assumptions |
|  | Year Ended |  |  | Year ended |  |  | Year ended |
|  | June 30, 2016 |  |  | June 30, 2015 |  |  | June 30, 2014 |
Expected volatility |  |  | 59-66% |  |  |  | 78-79% |  |  |  | 79% |
Expected life |  |  | 4.5 years |  |  |  | 7 years |  |  |  | 7 years |
Expected dividends |  |  | 0.00% |  |  |  | 0.00% |  |  |  | 0.00% |
Risk-free interest rate |  |  | 1.46-1.49% |  |  |  | 1.59-2.04% |  |  |  | 2.22% |
Schedule of options outstanding |
|  | For the Twelve Months Ended June 30, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding options, beginning of period |  |  | 538,888 |  |  | $ | 1.32 |  |  |  | 120,000 |  |  | $ | 1.49 |  |  |  | - |  |  |  | - |
Granted |  |  | 199,586 |  |  | $ | 1.63 |  |  |  | 438,888 |  |  | $ | 1.30 |  |  |  | 120,000 |  |  | $ | 1.49 |
Forfeited |  |  | (95,000 | ) |  | $ | 1.80 |  |  |  | (20,000 | ) |  | $ | 1.49 |  |  |  | - |  |  |  | - |
Excercised |  |  | (33,333 | ) |  | $ | 1.27 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding options, end of period |  |  | 610,141 |  |  | $ | 1.35 |  |  |  | 538,888 |  |  | $ | 1.33 |  |  |  | 120,000 |  |  | $ | 1.49 |
Schedule of information related to options |
|  | Options Outstanding |  | Options Exercisable |
Range of Exercise Prices |  | Options Outstanding |  | Remaining Contractual Life |  | Shares Exercisable |  | Remaining Contractual Life |  | Weighted Average Exercise Price |
$1.62 to $1.68 |  | 75,000 |  | 5.51 |  | 25,002 |  | 5.51 |  | 1.65 |
$1.80 |  | 295,555 |  | 5.16 |  | 195,555 |  | 5.16 |  | 1.8 |
$2.05 |  | 100,000 |  | 4.97 |  | 66,670 |  | 4.97 |  | 2.05 |
$2.09 |  | 10,000 |  | 5.58 |  | 3,333 |  | 5.58 |  | 2.09 |
$2.75 |  | 25,000 |  | 5.77 |  | 8,333 |  | 5.77 |  | 2.75 |
$2.94 |  | 75,000 |  | 6.53 |  | - |  | - |  | - |
$3.38 |  | 29,586 |  | 6.06 |  | - |  | - |  | - |
|  | 610,141 |  | 5.42 |  | 298,893 |  | 5.17 |  | 1.87 |
Schedule of unvested options |
|  | For the Twelve Months Ended June 30, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Shares |  |  | Weighted Average Grant Date Fair Value |
Unvested options, beginning of period |  |  | 505,553 |  |  | $ | 1.32 |  |  |  | 120,000 |  |  | $ | 1.49 |  |  |  | - |  |  |  | - |
Granted |  |  | 199,586 |  |  | $ | 1.63 |  |  |  | 438,888 |  |  | $ | 1.30 |  |  |  | 120,000 |  |  | $ | 1.49 |
Vested |  |  | (298,891 | ) |  | $ | 1.31 |  |  |  | (33,335 | ) |  | $ | 1.49 |  |  |  | - |  |  |  | - |
Forfeited |  |  | (95,000 | ) |  | $ | 1.80 |  |  |  | (20,000 | ) |  | $ | 1.49 |  |  |  | - |  |  |  | - |
Unvested options, end of period |  |  | 311,248 |  |  | $ | 1.39 |  |  |  | 505,553 |  |  | $ | 1.32 |  |  |  | 120,000 |  |  | $ | 1.49 |
Schedule of share based compensation arrangement by share based payment award, options outstanding and exercisable options |
|  | As of June 30, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | Options Outstanding |  |  | Exercisable Options |  |  | Options Outstanding |  |  | Exercisable Options |  |  | Options Outstanding |  |  | Exercisable Options |
Number |  |  | 610,141 |  |  |  | 298,893 |  |  |  | 538,888 |  |  |  | 33,335 |  |  |  | 120,000 |  |  |  | - |
Weighted average exercise price |  | $ | 2.07 |  |  | $ | 1.87 |  |  | $ | 1.86 |  |  | $ | 2.05 |  |  | $ | 2.05 |  |  |  | - |
Aggregate intrinsic value |  | $ | 1,341,828 |  |  | $ | 717,343 |  |  | $ | 451,177 |  |  | $ | 21,668 |  |  | $ | 7,200 |  |  |  | - |
Weighted average contractual term |  | $ | 5.42 |  |  |  | 5.17 |  |  |  | 6.21 |  |  |  | 5.97 |  |  |  | 6.97 |  |  |  | - |
Share price as of June 30 |  | $ | 4.27 |  |  | $ | 4.27 |  |  | $ | 2.70 |  |  | $ | 2.70 |  |  | $ | 2.11 |  |  | $ | 2.11 |
Schedule of nonvested share activity |
|  |  |  |  | Weighted-Average |
|  |  |  |  | Grant-Date |
|  | Shares |  |  | Fair Value |
Nonvested at June 30, 2013 |  |  | 97,146 |  |  | $ | 1.52 |
Granted |  |  | 10,000 |  |  |  | 2.17 |
Vested |  |  | (55,001 | ) |  |  | 1.62 |
Forfeited, Director changes |  |  | (3,334 | ) |  |  | 0.94 |
Forfeited, Employee shares not earned |  |  | (5,000 | ) |  |  | 1.52 |
Nonvested at June 30, 2014 |  |  | 43,811 |  |  | $ | 1.59 |
Granted |  |  | 155,927 |  |  |  | 2.00 |
Vested |  |  | (181,134 | ) |  |  | 1.89 |
Nonvested at June 30, 2015 |  |  | 18,604 |  |  | $ | 1.88 |
Granted |  |  | 131,558 |  |  |  | 3.04 |
Vested |  |  | (21,664 | ) |  |  | 2.70 |
Nonvested at June 30, 2016 |  |  | 128,498 |  |  | $ | 2.97 |

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