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Compensatory Equity Incentive Plan and Other Equity Incentives (Tables)

12 Months Ended

Jun. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of share based compensation award plans

These plans are summarized below:

Equity Compensation Arrangement		Award Shares Authorized				Award Shares Outstanding at June 30, 2016				Available for Issuance at June 30, 2016
Amended and Restated Omnibus Incentive Plan			3,915,625				2,131,055				1,139,429
Employee Stock Purchase Plan			400,000				—				390,094
			4,315,625				2,131,055				1,529,523

Schedule of stock options fair value assumptions

For stock options and restricted stock units (“RSUs”) granted in the years ended June 30, 2016 and 2015, the Company estimated the fair value of each stock award as of the date of grant using the following assumptions:

	Year ended June 30, 2016			Year ended June 30, 2015
Expected volatility	68% - 103	%		103% - 104	%
Weighted average expected volatility	68% - 103	%		103% - 104	%
Dividend yields	0	%		0	%
Risk-free interest rate	0.37% - 1.49	%		1.64% - 1.77	%
Expected term, in years	4.29 - 7.50			7.49

Schedule of share based compensation awards activity

A summary of the activity for share-based payment awards in the years ended June 30, 2016 and 2015 is presented below: 

		Stock Options												Restricted Stock Units (RSUs)
		Shares				Weighted Average Exercise Price (per share)				Weighted Average Remaining Contract Life (YRS)				Shares				Weighted Average Remaining Contract Life (YRS)
June 30, 2014			654,158			$	2.25				5.5				856,300				0.9
Granted			103,000			$	1.35				9.4				219,000				2.3
Exercised			—				—				—				—				—
Cancelled/Forfeited			(34,675	)		$	3.06				2.9				—				—
June 30, 2015			722,483			$	2.08				5.3				1,075,300				0.9
Granted			155,592			$	1.49				9.4				236,495				2.3
Exercised			(6,077	)		$	1.07				3.7				—				—
Cancelled/Forfeited			(52,738	)		$	3.26				—				—				—
June 30, 2016			819,260			$	1.90				5.6				1,311,795				0.9
Awards exercisable/vested as of
June 30, 2016			637,010			$	2.06				4.8				870,196				—
Awards unexercisable/unvested as of
June 30, 2016			182,250			$	1.35				8.2				441,599				0.9
			819,260												1,311,795

Schedule of share based compensation future cost to be recognized

The cost expected to be recognized as follows:

		Stock Options				Restricted Stock Share/ Units				Total
Year ended June 30, 2017			42,434				237,187				279,621
Year ended June 30, 2018			28,667				141,580				170,247
Year ended June 30, 2019			12,929				29,153				42,082
Year ended June 30, 2020			2,605				—				2,605
		$	86,635			$	407,920			$	494,555

Summary of the number and weighted average grant date fair values regarding our unexercisable/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, 2016 and 2015 and changes during the two years then ended:

Unexercisable/unvested awards		Stock Options Shares				RSU Shares				Total Shares					Weighted- Average Grant Date Fair Values (per share)
June 30, 2014			193,000				354,303				547,303			$	1.18
Granted			103,000				219,000				322,000			$	1.30
Vested			(71,500	)			(169,433	)			(240,933	)		$	1.28
Cancelled/Forfeited			—				—				—				—
June 30, 2015			224,500				403,870				628,370			$	1.10
Granted			155,592				236,495				392,087			$	1.39
Vested			(197,842	)			(198,766	)			(396,608	)		$	1.21
Cancelled/Forfeited			—				—				—				—
June 30, 2016			182,250				441,599				623,849			$	1.35

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, 2016 and 2015 included in the Consolidated Statement of Comprehensive Income (Loss): 

		Year ended June 30, 2016				Year ended June 30, 2015
Stock options		$	49,293			$	53,584
RSU			299,442				231,367
Total		$	348,735			$	284,951
The amounts above were included in:
Selling, general & administrative		$	347,206			$	283,962
Cost of sales			316				158
New product development			1,213				831
		$	348,735			$	284,951

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- Definition

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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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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