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Compensatory Equity Incentive Plan and Other Equity Incentives (Tables)
12 Months Ended
Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share Based Compensation Award Plans

These plans are summarized below:

 

      Award Shares  Available for
      Outstanding  Issuance
   Award Shares  at June 30,  at June 30,
Equity Compensation Arrangement  Authorized  2014  2014
Amended and Restated Omnibus Incentive Plan   2,715,625    1,510,458    566,103 
Employee Stock Purchase Plan   200,000    —      101,693 
                
    2,915,625    1,510,458    667,796 
Schedule of Fair Value Assumptions for Grant Date Value

For stock options and restricted stock units (“RSUs”) granted in the years ended June 30, 2014 and 2013, the Company estimated the fair value of each stock award as of the date of grant using the following assumptions:

 

  Year ended Year ended
  June 30, 2014 June 30, 2013
Expected volatility 105% - 123% 110% - 120%
Weighted average expected volatility 105% - 123% 110% - 120%
Dividend yields 0% 0%
Risk-free interest rate 1.60% - 2.81% 0.67% - 1.72%
Expected term, in years 3 - 7 3 - 7
Schedule of Share Based Compensation Awards Activity

A summary of the activity for share-based payment awards in the years ended June 30, 2014 and 2013 is presented below:  

 

   Stock Options  Restricted
Stock Units (RSUs)
      Weighted  Weighted     Weighted
      Average  Average     Average
      Exercise  Remaining     Remaining
      Price  Contract     Contract
   Shares  (per share)  Life (YRS)  Shares  Life (YRS)
June 30, 2012   576,393   $2.61    6.4    594,700    1.0 
Granted   98,500    0.96    9.4    240,000    2.6 
Exercised   (2,511)   1.05    5.5    —      —   
Cancelled   (87,373)   0.91    7.0    —      —   
                          
June 30, 2013   585,009   $2.38    5.9    834,700    1.1 
Granted   83,000    1.41    9.4    212,760    2.3 
Exercised   —      —      —      (191,160)   —   
Cancelled   (13,851)   2.40    —      —      —   
June 30, 2014   654,158   $2.25    5.5    856,300    0.9 
                          
Awards exercisable/                         
vested as of                         
June 30, 2014   461,158   $2.63    4.3    534,663    —   
                          
                          
Awards unexercisable/                         
unvested as of                         
June 30, 2014   193,000   $1.34    8.5    321,637    0.9 
    654,158              856,300      
                          
         Stock
Options
    RSU    All
Awards
      
Weighted average fair value                         
of share awards granted for the year ended                         
June 30, 2014       $1.21   $1.41   $1.36      
Schedule of Share Based Compensation Future Cost to be Recognized

The cost expected to be recognized as follows:

 

      Restricted   
      Stock   
   Stock  Share/   
   Options  Units  Total
                  
 Year ended June 30, 2015   $41,642   $156,625   $198,267 
                  
 Year ended June 30, 2016    27,299    112,291    139,590 
                  
 Year ended June 30, 2017    17,572    20,865    38,437 
                  
 Year ended June 30, 2018    3,807    —      3,807 
     $90,320   $289,781   $380,101 
Schedule of Activity of Unexerciseable and Unvested Awards

The following table is a summary of the number and weighted average grant date fair values regarding our unexercisable/unvested awards as of June 30, 2014 and 2013 and changes during the two years then ended:

 

  Stock
Options
    Total 

Weighted-Average

Grant Date 
Fair Values

Unexercisable/unvested awards  Shares  RSU Shares  Shares  (per share)
June 30, 2012   198,125    235,000    433,125   $2.42 
Granted   98,500    240,000    338,500    0.85 
Vested   (59,875)   (103,330)   (163,205)   1.91 
Cancelled/Forfeited   (53,500)   —      (53,500)   1.64 
June 30, 2013   183,250    371,670    554,920   $1.57 
Granted   83,000    212,760    295,760    1.36 
Vested   (73,250)   (262,793)   (336,043)   1.36 
Cancelled/Forfeited   —      —      —      —   
June 30, 2014   193,000    321,637    514,637   $1.18 

 

Schedule of Financial Statement Effect Related to Share Based Compensation

The following table shows total stock-based compensation expense for the years ended June 30, 2014 and 2013 included in the Consolidated Statement of Operations and Comprehensive Income:

 

  Year ended
  June 30,  June 30,
   2014  2013
 Stock options   68,113    65,286 
 RSU   288,702    203,021 
      Total   356,815    268,307 
 The amounts above were included in:          
 General & administrative   346,119    263,247 
 Cost of sales   —      (4,350)
 New product development   10,696    9,410 
    356,815    268,307