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Stockholders' Equity | 6 Months Ended
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Dec. 31, 2013
Stockholders' Equity Note [Abstract] |
Stockholders' Equity Note Disclosure [Text Block] | Note 5. Stockholders’ Equity Stock Options In December 2007, we established the 2007 Equity Compensation Plan (the “Plan”). The Plan was approved by our board of directors and stockholders. The purpose of the Plan is to grant stock and options to purchase our common stock to our employees, directors and key consultants. On November 15, 2012, the maximum number of shares of common stock that may be issued pursuant to awards granted under the Plan increased from 1,500,000 to 3,000,000, as approved by our board of directors and stockholders. Cancelled and forfeited stock options and stock awards may again become available for grant under the Plan. There were 833,841 shares available for grant under the Plan as of December 31, 2013. All current stock option grants are made under the 2007 Equity Compensation Plan. The majority of awards issued under the Plan vest immediately or over three years, with a one year cliff vesting period, and have a term of ten years. Stock-based compensation cost is measured at the grant date, based on the fair value of the awards that are ultimately expected to vest, and recognized on a straight-line basis over the requisite service period, which is generally the vesting period. The following table summarizes vested and unvested stock option activity:
|  | All Options |  | Vested Options |  | Unvested Options |
|  | Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price |
Outstanding at June 30, 2013 |  |  | 1,692,898 |  |  | 1.24 |  |  | 1,352,730 |  |  | 1.23 |  |  | 340,168 |  |  | 1.29 |
Granted |  |  | 191,472 |  |  | 1.80 |  |  | 7,400 |  |  | 1.80 |  |  | 184,072 |  |  | 1.80 |
Options vesting |  |  | - |  |  | - |  |  | 56,834 |  |  | 1.41 |  |  | (56,834) |  |  | 1.41 |
Exercised |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Forfeited/Cancelled |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Outstanding at December 31, 2013 |  |  | 1,884,370 |  | $ | 1.30 |  |  | 1,416,964 |  | $ | 1.24 |  |  | 467,406 |  | $ | 1.48 |
The weighted average remaining contractual life of all options outstanding as of December 31, 2013 was 6.92 years. The weighted average remaining contractual life for options vested and exercisable at December 31, 2013 was 6.17 years. Furthermore, the aggregate intrinsic value of all options outstanding as of December 31, 2013 was $1,354,438, and the aggregate intrinsic value of options vested and exercisable at December 31, 2013 was $1,109,248, in each case based on the fair value of the Company’s common stock on December 31, 2013. The total fair value of options vested during the six months ended December 31, 2013 was $131,678 and is included in selling, general and administrative expenses in the accompanying statement of operations. As of December 31, 2013, the amount of unvested compensation related to these options was $407,706 which will be recorded as an expense in future periods as the options vest. Additional information regarding stock options outstanding and exercisable as of December 31, 2013 is as follows:
Option Exercise Price |  | Options Outstanding |  | Remaining Contractual Life (in years) |  | Options Exercisable |
$ | 1.00 |  |  | 347,000 |  |  | 5.41 |  |  | 347,000 |
| 1.02 |  |  | 287,000 |  |  | 6.58 |  |  | 287,000 |
| 1.07 |  |  | 53,898 |  |  | 8.79 |  |  | 42,231 |
| 1.15 |  |  | 278,000 |  |  | 9.11 |  |  | 150,000 |
| 1.25 |  |  | 32,000 |  |  | 9.13 |  |  | - |
| 1.30 |  |  | 263,000 |  |  | 8.18 |  |  | 175,333 |
| 1.50 |  |  | 380,000 |  |  | 4.06 |  |  | 380,000 |
| 1.80 |  |  | 190,050 |  |  | 9.73 |  |  | 7,400 |
| 1.85 |  |  | 24,000 |  |  | 9.39 |  |  | - |
| 1.97 |  |  | 1,422 |  |  | 9.90 |  |  | - |
| 3.00 |  |  | 15,000 |  |  | 7.04 |  |  | 15,000 |
| 3.05 |  |  | 10,000 |  |  | 7.12 |  |  | 10,000 |
| 3.65 |  |  | 3,000 |  |  | 7.22 |  |  | 3,000 |
Total |  |  | 1,884,370 |  |  |  |  |  | 1,416,964 |
Warrants The following table summarizes warrant activity:
|  | Number of Warrants |  | Weighted Average Exercise Price |
Outstanding, June 30, 2013 |  |  | 2,376,173 |  |  | 2.06 |
Granted |  |  | - |  |  | - |
Exercised |  |  | (419,000) |  |  | 2.00 |
Expired |  |  | (662,175) |  |  | 2.00 |
Outstanding, December 31, 2013 |  |  | 1,294,998 |  | $ | 2.11 |
Exercisable, June 30, 2013 |  |  | 2,376,173 |  | $ | 2.06 |
Exercisable, December 31, 2013 |  |  | 1,294,998 |  | $ | 2.11 |
The intrinsic value for all warrants outstanding as of December 31, 2013 was $317,333, based on the fair value of the Company’s common stock on December 31, 2013. In November 2013, warrant holders exercised warrants to purchase 419,000 shares of the Company’s common stock for $838,000. Additional information regarding warrants outstanding and exercisable as of December 31, 2013 is as follows:
Warrant Exercise Price |  | Warrants Outstanding |  | Remaining Contractual Life (in years) |  | Warrants Exercisable |
$ | 1.19 |  |  | 150,000 |  |  | 7.98 |  |  | 150,000 |
| 1.25 |  |  | 150,000 |  |  | 1.85 |  |  | 150,000 |
| 1.75 |  |  | 333,331 |  |  | 0.89 |  |  | 333,331 |
| 2.25 |  |  | 266,667 |  |  | 0.97 |  |  | 266,667 |
| 3.00 |  |  | 390,000 |  |  | 0.12 |  |  | 390,000 |
| 3.50 |  |  | 2,500 |  |  | 2.50 |  |  | 2,500 |
| 4.00 |  |  | 2,500 |  |  | 2.50 |  |  | 2,500 |
Total |  |  | 1,294,998 |  |  |  |  |  | 1,294,998 |
Restricted Common Stock On September 6, 2013, the Company issued 150,833 shares of restricted common stock to employees. These shares vest over a three year period, with a one year cliff vesting period, and remain subject to forfeiture if vesting conditions are not met. The aggregate value of the stock award was $271,499 based on the market price of our common stock of $1.80 per share on the date of grant, which will be amortized over the three year vesting period. On November 22, 2013, the Company issued 11,683 shares of restricted common stock to employees. These shares vest over a three year period, with a one year cliff vesting period, and remain subject to forfeiture if vesting conditions are not met. The aggregate value of the stock award was $23,016 based on the market price of our common stock of $1.97 per share on the date of grant, which will be amortized over the three year vesting period. The total fair value of restricted common stock vested during the six months ended December 31, 2013 was $47,168 and is included in selling, general and administrative expenses in the accompanying statement of operations. As of December 31, 2013, the amount of unvested compensation related to this issuance of restricted common stock was $247,347 which will be recorded as an expense in future periods as the stock vests. When calculating net income (loss) per share, these shares are included in weighted average common shares outstanding from the time they vest. The following table summarizes restricted common stock activity:
|  | Number of Shares |  | Weighted Average Grant Date Fair Value |
Non-vested, June 30, 2013 |  |  | 33,939 |  |  | 1.85 |
Granted |  |  | 162,516 |  |  | 1.81 |
Vested |  |  | - |  |  | - |
Forfeited |  |  | - |  |  | - |
Non-vested, December 31, 2013 |  |  | 196,455 |  | $ | 1.82 |
Issuance of Common Stock On December 6, 2013, the Company issued 2,748 shares of common stock valued at $5,222 to a consultant for services rendered.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
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