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SHARE-BASED COMPENSATION (Tables)
9 Months Ended
Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock option activity

Following is a summary of stock option activity for the nine months ended March 31, 2016 and 2015:

 

    2016     2015  
    Number of
Shares
    Weighted-
Average
Exercise Price
    Number of
Shares
    Weighted-
Average
Exercise Price
 
Outstanding at July 1,     106,668     $ 2.41       165,002     $ 2.40  
Options granted                        
Options exercised     (7,500 )     2.14       (48,333 )     1.87  
Options forfeited     (8,334 )     7.65       (10,001 )     4.94  
Outstanding at end of period     90,834     $ 1.95       106,668     $ 2.41  
Stock Options Exercisable at March 31,     90,834     $ 1.95       101,668     $ 2.44  
Schedule of options outstanding and options exercisable

Following is a summary of information regarding options outstanding and options exercisable at March 31, 2016:

 

        Options Outstanding & Exercisable  
  Range of
Exercise Prices
      Number
Outstanding
      Weighted-Avg.
Remaining
Contractual Life
     

 

Weighted-
Avg.
Exercise
Price

      Aggregate
Intrinsic
Value
 
  $0 to 2.50       87,500       5.53     $ 1.86     $ 171,850  
  2.5 to 5.00       3,334       1.13       4.38        
  Total       90,834       5.37 years     $ 1.95     $ 171,850  
Schedule of restricted share activity

The following is a summary of restricted share activity for the nine months ended March 31, 2016 and 2015:

 

    2016     2015  
      Number of
Shares
    Weighted-
Average
Grant Date
Fair Value
    Number of
Shares
    Weighted-
Average
Grant Date
Fair Value
 
Outstanding at beginning of period     5,000     $ 1.73       13,333     $ 1.73  
Granted                        
Vested     (5,000 )     1.73       (6,667 )     1.73  
Forfeited                 (1,666 )     1.73  
Outstanding at end of period         $       5,000     $ 1.73