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INCOME (LOSS) PER COMMON AND COMMON STOCK EQUIVALENT SHARE (Details) - shares
12 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Earnings Per Share, Basic and Diluted [Abstract]    
Weighted average number of shares outstanding 7,382,706 7,382,706
Common stock equivalents related to stock option grants that were included in the computation of the weighted-average number of shares outstanding 0 0
Shares under option excluded as anti-dilutive 2,245,000 2,066,000