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Compensatory Equity Incentive Plan and Other Equity Incentives (Tables)

6 Months Ended

Dec. 31, 2013

Compensatory Equity Incentive Plan And Other Equity Incentives Tables

Schedule of Share Based Compensation Award Plans

These two plans are summarized below:

						Award Shares				Available for
		Award				Outstanding at				Issuance at
		Shares Authorized				December 31, 2013				December 31, 2013
Equity Compensation Arrangement
Amended and Restated Omnibus Incentive Plan			2,715,625				1,507,458				569,103
Employee Stock Purchase Plan			200,000				—				105,918
			2,915,625				1,507,458				675,021

Schedule of Fair Value Assumptions for Grant Date Value

For stock options granted in the six month periods ended December 31, 2013 and 2012, the Company estimated the fair value of each stock option as of the date of grant using the following assumptions:

		Six Months Ended				Six Months Ended
		December 31, 2013				December 31, 2012
Expected volatility			118	%			110	%
Weighted average expected volatility			118	%			110	%
Dividend yields			0	%			0	%
Risk-free interest rate			2.48	%			0.67	%
Expected term, in years			11.85				6.25

Schedule of Share Based Compensation Awards Activity

A summary of the activity for share-based compensation awards in the six months ended December 31, 2013 is presented below:

														Restricted
		Stock Options												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, 2013			585,009			$	2.38				5.9				834,700				1.1
Granted			80,000				1.41				9.8				212,760				2.8
Exercised			—				—				—				(191,160	)			—
Cancelled			(13,851	)			2.40				—				—				—
December 31, 2013			651,158			$	2.26				6.0				856,300				1.1
Awards exercisable/vested as of
December 31, 2013			433,408			$	2.65				4.7				435,332				—
Awards unexercisable/unvested as of
December 31, 2013			217,750			$	1.46				8.7				420,968				1.1
			651,158												856,300

Schedule of Share Based Compensation Future Cost to be Recognized

We expect to recognize the compensation cost as follows:

						Restricted
		Stock				Stock
		Options				Units				Total
Six months ended June 30, 2014		$	29,042			$	99,913			$	128,955
Year ended June 30, 2015			41,127				156,625				197,752
Year ended June 30, 2016			26,784				112,291				139,075
Year ended June 30, 2017			17,057				20,865				37,922
Year ended June 30, 2018			3,508				—				3,508
		$	117,518			$	389,694			$	507,212

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 the Company’s unexercisable/unvested awards as of December31, 2013 and changes during the six months then ended:

Unexercisable/unvested awards		Stock Options				RSU Shares				Total Shares				Weighted-Average Grant Date Fair Values
June 30, 2013			183,250				371,670				554,920			$	1.57
Granted			80,000				212,760				292,760				1.41
Vested			(45,500	)			(163,462	)			(208,962	)			1.43
Cancelled/Forfeited			—				—				—				—
December 31, 2013			217,750				420,968				638,718			$	1.19

Schedule of Financial Statement Effect Related to Share Based Compensation

The following table shows total stock-based compensation expense for the six months ended December 31, 2013 and 2012 included in the consolidated statements of operations and comprehensive income:

		(Unaudited)				(Unaudited)
		Six Months Ended				Six Months Ended
		December 31,				December 31,
		2013				2012
Stock options			38,857				33,692
RSU			188,789				94,594
Total			227,646				128,286
The amounts above were included in:
General & administrative			221,994				122,292
Cost of sales			—				1,580
New product development			5,651				4,414
			227,645				128,286

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Tabular disclosure of the number of unvested share options and restricted stock units and shares expected to vest at the date of the latest statement of financial position, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term for both options and restricted stock units currently outstanding and options and restricted stock units exercisable (or convertible).

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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