XML 80 R20.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Note 14 - Incentive And Non-Statutory Stock Option Plan | 6 Months Ended
--- | ---
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 14 - INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN Common stock purchase options and warrants consisted of the following:
OPTIONS: |  |  |  |  |  |  |  |  |  |  |  |
Issued by the Company |  | # of shares |  |  | Weighted Ave Exericse Price |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Aggregated Intrinsic Value |
Outstanding and exercisable, June 30, 2013 |  |  | 311,462 |  |  | $ | 15.65 |  |  |  | 3.3 |  |  |  |
Granted |  |  | 73,928 |  |  | $ | 7.58 |  |  |  |  |  |  |  |
Exercised |  |  | (73,928 | ) |  | $ | 7.58 |  |  |  |  |  |  |  |
Expired / Cancelled |  |  | (9,000 | ) |  | $ | 32.70 |  |  |  |  |  |  |  |
Outstanding and exercisable, December 31, 2013 |  |  | 302,462 |  |  | $ | 15.14 |  |  |  | 2.87 |  |  | $ | - |
WARRANTS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding and exercisable, June 30, 2013 |  |  | 163,124 |  |  | $ | 7.29 |  |  |  | 3.44 |  |  |  |  |
Granted / adjusted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Expired |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding and exercisable, December 31, 2013 |  |  | 163,124 |  |  | $ | 7.29 |  |  |  | 2.7 |  |  | $ | - |
The average life remaining on the options and warrants as of December 31, 2013 is as follows:
Exercise Price |  | Number Outstanding and Exercisable |  |  | Weighted Average Remaining Contractual Life |  |  | Weighted Avg Exercise Price |
OPTIONS: |  |  |  |  |  |  |  |  |
$0.10 | - | $9.90 |  |  | 183,462 |  |  |  | 3.46 |  |  |  | 7.21 |
$10.00 | - | $19.90 |  |  | 14,000 |  |  |  | 2.11 |  |  |  | 18.18 |
$20.00 | - | $29.90 |  |  | 91,000 |  |  |  | 2.20 |  |  |  | 25.31 |
$30.00 | - | $50.00 |  |  | 14,000 |  |  |  | 0.15 |  |  |  | 50.00 |
Totals |  |  | 302,462 |  |  |  | 2.87 |  |  |  | 15.14 |
WARRANTS: |  |  |  |  |  |  |  |  |  |  |  |
$3.10 | - | $7.73 |  |  | 163,124 |  |  |  | 2.70 |  |  |  | 7.29 |
Totals |  |  | 163,124 |  |  |  | 2.70 |  |  |  | 7.29 |
All options and warrants granted are vested and exercisable as of December 31, 2013. Below is the table summarizing stock grants awarded as compensation:
Issued by the Company |  | # of shares |  |  | Weighted Average Grant Date Fair Value ($) |
Unvested, June 30, 2012 |  |  | - |  |  |  | - |
Granted |  |  | 3,750 |  |  | $ | 5.48 |
Vested |  |  | (3,750 | ) |  | $ | 5.48 |
Unvested, June 30, 2013 |  |  | - |  |  |  | - |
Granted |  |  | 86,899 |  |  | $ | 10.68 |
Vested |  |  | (43,448 | ) |  | $ | 10.68 |
Unvested, December 31, 2013 |  |  | 43,451 |  |  | $ | 10.68 |
OPTIONS During the quarter ended September 30, 2013, the Company granted 47,500 options to four employees with an exercise price of $8 per share and an expiration date of 3 months, vesting immediately. Using the Black-Scholes method to value the options, the Company recorded $106,486 in compensation expense for these options in the accompanying condensed consolidated financial statements. The Black-Scholes option pricing model used the following assumptions:
· | Risk-free interest rate - 0.05%
· | Expected life - 3 months
· | Expected volatility - 45.99%
· | Expected dividend - 0%
During the quarter ended September 30, 2013, the Company granted 5,000 options to one employee with an exercise price of $6.10 per share and an expiration date of 1 month, vesting immediately. Using the Black-Scholes method to value the options, the Company recorded $18,551 in compensation expense for these options in the accompanying condensed consolidated financial statements. The Black-Scholes option pricing model used the following assumptions:
· | Risk-free interest rate – 0.02%
· | Expected life – 1 month
· | Expected volatility – 23.13%
· | Expected dividend – 0%
During the quarter ended December 31, 2013, the Company granted 21,428 options to two employees with an exercise price of $7 per share and an expiration date of 1 month, vesting immediately. Using the Black-Scholes method to value the options, the Company recorded $33,214 in compensation expense for these options in the accompanying condensed consolidated financial statements. The Black-Scholes option pricing model used the following assumptions:
· | Risk-free interest rate – 0.01%
· | Expected life – 1 month
· | Expected volatility – 17.5%
· | Expected dividend – 0%

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration