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Share-Based Compensation | 12 Months Ended
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Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-Based Compensation |
9. |  | Share-Based Compensation
Stock Option Plans Through June 2014, we had two active stock option plans, the Second Amended and Restated 2004 Stock Option Plan (the “Employees Stock Option Plan”) and the Amended and Restated 2004 Directors Stock Option Plan (the “Directors Stock Option Plan” and, collectively with the Employees Stock Option Plan, the “Option Plans”), pursuant to which (i) options to purchase shares of common stock, or (ii) restricted shares of common stock, could be granted up to an aggregate amount of 1,333,333 common shares, with 1,066,667 and 266,666 shares distributed between the Employees Stock Option Plan and the Directors Stock Option Plan, respectively. The Option Plans were substantially similar, providing for a strike price equal to the closing price for a share of our common stock as of the last business day immediately prior to the Grant Date, vesting periods, as determined by the Board of Directors for the Employees Stock Option Plan and six months for the Directors Stock Option Plan, and terms of up to ten years, subject to forfeit 30 days after the holder ceases to be an employee or 90 days after the holder ceases to be director, as the case may be. At June 30, 2014, options to purchase an aggregate of 531,381 and 173,334 shares under the Employees Stock Option Plan and the Directors Stock Option Plan, respectively, were available to grant in future years. Aggregate share-based compensation expense under the Plans for the years ended June 30, 2014 and 2013 were $50,000 and $100,000, respectively. There were no stock options granted during the fiscal year ended June 30, 2014. The following weighted average assumptions were used in the calculation of share-based compensation expense for options granted during the year ended June 30, 2013:
|  | Year Ended |
|  | June 30, 2013 |
Weighted average risk-free interest rate |  |  | 0.9% |
Expected life (in years) |  |  | 5.7 |
Expected stock price volatility |  |  | 89% |
Dividend yield |  |  | None |
As of June 30, 2014, there was an aggregate of $11,000 of unrecognized compensation cost under the Option Plans related to 19,167 non-vested outstanding stock options with a per share weighted average value of $1.56. The unrecognized expense is anticipated to be recognized on a straight-line basis over a weighted average period of 10 months. The following is a summary of stock option activity under the Option Plans for the years ended June 30, 2014 and 2013:
|  |  | Outstanding Options
|  |  | Number of Shares |  |  |  | Weighted-Average Exercise Price |
Balance, July 1, 2012 |  |  | 591,672 |  |  | $ | 2.48 |
Options granted |  |  | 70,000 |  |  |  | 1.92 |
Options canceled or expired |  |  | (325,834 | ) |  |  | 2.61 |
Options exercised |  |  | (43,334 | ) |  |  | 1.53 |
Balance, July 1, 2013 |  |  | 292,504 |  |  | $ | 2.35 |
Options granted |  |  | — |  |  |  | — |
Options canceled or expired |  |  | (123,398 | ) |  |  | 2.22 |
Options exercised |  |  | (4,104 | ) |  |  | 2.33 |
Balance, June 30, 2014 |  |  | 165,002 |  |  | $ | 2.40 |
Stock Options Exercisable at June 30, 2014 |  |  | 145,835 |  |  | $ | 2.49 |
The following table summarizes information regarding options outstanding and options exercisable under the Option Plans at June 30, 2014:
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Number Outstanding |  | Weighted-Avg. Remaining Contractual Life |  | Weighted- Avg. Exercise Price |  | Aggregate. Intrinsic Value |  | Number Outstanding |  | Weighted-Avg. Remaining Contractual Life |  | Weighted-Avg. Exercise Price |  | Average Intrinsic Value
$0 to 2.50 |  | 145,500 |  | 7.23 |  | $1.87 |  | $33,600 |  | 125,833 |  | 7.13 |  | $1.89 |  | $26,917
2.5 to 5.00 |  | 3,334 |  | 2.88 |  | 4.38 |  | — |  | 3,334 |  | 2.88 |  | 4.38 |  | —
5.01 to 7.50 |  | 8,334 |  | 0.02 |  | 5.58 |  | — |  | 8,334 |  | 0.02 |  | 5.58 |  | —
7.51 to 10.00 |  | 8,334 |  | 1.52 |  | 7.65 |  | — |  | 8,334 |  | 1.52 |  | 7.65 |  | —
Total |  | 165,002 |  | 6.49 years |  | $2.40 |  | $33,600 |  | 145,835 |  | 6.31 |  | $2.49 |  | $26,917
In June 2014, our Board of Directors terminated the Employees Stock Option Plan, with the provision that options outstanding under the Employees Stock Option Plan will remain outstanding in accordance with their respective terms. In September 2014, our Board approved the inclusion in our proxy statement for approval by our shareholders at the 2014 Annual Meeting of Shareholders its recommendation to terminate the Directors Stock Option Plan. Employee Stock Purchase Plan Also in September 2014, our Board approved the establishment of an Employee Stock Purchase Plan (the “ESPP”). The ESPP conforms to the provisions of Section 423 of the Internal Revenue Code, has coterminous offering and purchase periods of six months, and bases the pricing to purchase shares of our common stock on a formula so as to result in a per share purchase price that approximates a 15% discount from the market price of a share of our common stock at the end of the purchase period. The Board of Directors also approved the provision that shares formerly reserved for issuance under the Employee Stock Option Plan in excess of shares issuable pursuant to outstanding options be reserved for issuance pursuant to the ESPP. Restricted Stock The following is a summary of restricted share activity for the years ended June 30, 2014 and 2013:
|  |  |  |  | Outstanding Restricted Stock Units
|  |  |  |  | Number of Shares |  |  |  | Weighted-Average Stock Price On Grant Date |
| Balance, June 30, 2012 |  |  |  | — |  |  | $ | — |
| Granted |  |  |  | 35,000 |  |  |  | 1.73 |
| Forfeited |  |  |  | (2,500 | ) |  |  | 1.73 |
| Vested |  |  |  | — |  |  |  | — |
| Balance, June 30, 2013 |  |  |  | 32,500 |  |  | $ | 1.73 |
| Granted |  |  |  | — |  |  |  | — |
| Forfeited |  |  |  | (10,001 | ) |  |  | 1.73 |
| Vested |  |  |  | (9,166 | ) |  |  | 1.73 |
| Balance, June 30, 2014 |  |  |  | 13,333 |  |  | $ | 1.73 |
As of June 30, 2014, there was $10,000 in unrecognized compensation cost related to non-vested outstanding restricted shares. The unrecognized expense is anticipated to be amortized over the next 1.2 years.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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