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STOCK OPTIONS (Tables) | 12 Months Ended
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Jun. 30, 2013
Stock Options [Member] |
Fair value for the options granted (In Thousands) | The fair value for the options granted were estimated using the Black-Scholes option pricing model with the following weighted average assumptions, assuming no expected dividends:
|  | Year Ended June 30, |  |  | Year Ended June 30, |
|  | 2013 |  |  | 2012 |
Expected volatility |  |  | 92.53 | % |  |  | 81.17 | %
Risk-free interest rate |  |  | 0.26 | % |  |  | 0.25 | %
Expected life (years) |  |  | 2.50 |  |  |  | 2.50 |
Option activities (In Thousands) | A summary of option activities under the 2007 Employee Plan during the twelve month period ended June 30, 2013 is presented as follows:
|  | Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at July 1, 2012 |  |  | 313,000 |  |  | $ | 3.85 |  |  |  | 2.31 |  |  | $ | - |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited or expired |  |  | (49,500) |  |  |  | (8.06) |  |  |  | - |  |  |  | - |
Outstanding at June 30, 2013 |  |  | 263,500 |  |  | $ | 3.06 |  |  |  | 1.57 |  |  | $ | 122 |
Exercisable at June 30, 2013 |  |  | 243,125 |  |  | $ | 2.95 |  |  |  | 1.49 |  |  | $ | 122 |
Companys non-vested employee stock options (In Thousands) | A summary of the status of the Company’s non-vested employee stock options during the twelve months ended June 30, 2013 is presented below:
|  |  |  |  | Weighted Average Grant-Date |
|  | Options |  |  | Fair Value |
Non-vested at July 1, 2012 |  |  | 43,250 |  |  | $ | 3.29 |
Granted |  |  | - |  |  |  | - |
Vested |  |  | (21,375 | ) |  |  | 3.16 |
Forfeited |  |  | (1,500 | ) |  |  | 3.16 |
Non-vested at June 30, 2013 |  |  | 20,375 |  |  | $ | 3.26 |
Directors Equity Incentive Plan [Member] |
Fair value for the options granted (In Thousands) | . A summary of option activities under the 2007 Directors Plan during the twelve months ended June 30, 2013 is presented as follows:
|  | Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at July 1, 2012 |  |  | 385,000 |  |  | $ | 4.52 |  |  |  | 2.45 |  |  | $ | - |
Granted |  |  | 15,000 |  |  |  | 2.07 |  |  |  | 4.72 |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited or expired |  |  | (50,000 | ) |  |  | (4.81 | ) |  |  | - |  |  |  | - |
Outstanding at June 30, 2013 |  |  | 350,000 |  |  | $ | 3.53 |  |  |  | 1.96 |  |  | $ | - |
Exercisable at June 30, 2013 |  |  | 350,000 |  |  | $ | 3.53 |  |  |  | 1.96 |  |  | $ |  |

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- Definition Tabular disclosure of all information related to the key inputs and assumptions (including, at a minimum, but not limited to, and if applicable, quantitative information about discount rates, expected prepayments including the expected weighted-average life of prepayable financial assets, and anticipated credit losses) used in measuring the fair value of assets or liabilities that relate to the transferor's continuing involvement with transferred financial assets, as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 140 -Paragraph 17 -Subparagraph i(2) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=13989330&loc=d3e107314-111719 + Details
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- Definition Tabular disclosure of the description of the plan, the basis for determining contributions, including the employee groups covered, and the nature and effect of significant matters affecting comparability of information for all periods presented. For leveraged ESOPs and pension reversion ESOPs, the disclosure may include the basis for releasing shares and how dividends on allocated and unallocated shares are used. Disclosure may also include a description of the accounting policies followed for ESOP transactions, including the method of measuring compensation, the classification of dividends on ESOP shares, and the treatment of ESOP shares for EPS computations. If the employer has both old ESOP shares for which it does not adopt the latest guidance and new ESOP shares for which the new guidance is required, the accounting policies for both blocks of shares may be described. Disclosure may also include he amount of compensation cost recognized during the period, the number of allocated shares, committed-to-be-released shares, and suspense shares held by the ESOP at the balance-sheet date, the fair value of unearned ESOP shares at the balance-sheet date for shares accounted for under the latest guidance, the existence and nature of any repurchase obligation, including disclosure of the fair value of the shares allocated as of the balance sheet date, which are subject to a repurchase obligation. + References Reference 1: 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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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