XML 45 R32.htm IDEA: XBRL DOCUMENT
v2.4.0.8

STOCK OPTIONS (Tables) | 3 Months Ended
--- | ---
Sep. 30, 2014
Fair value weighted average assumptions |
|  | Three Months Ended September 30, |  | Three Months Ended September 30,
|  | 2014 |  | 2013
Expected volatility |  |  | 70.01% - 104.94 | % |  |  | 70.01 | %
Risk-free interest rate |  |  | 0.30% - 0.78 | % |  |  | 0.39% - 0.78 | %
Expected life (years) |  |  | 2.50 - 3.25 |  |  |  | 2 - 3 |
Company's non-vested employee stock options | A summary of the status of the Company’s non-vested employee stock options during the three months ended September 30, 2014 is presented below:
|  | Options |  |  | Weighted Average Grant-Date Fair Value |
Non-vested at July 1, 2014 |  |  | 26,250 |  |  | $ | 1.69 |
Granted |  |  | - |  |  |  | - |
Vested |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |
Non-vested at September 30, 2014 |  |  | 26,250 |  |  | $ | 1.69 |
A summary of the status of the Company’s non-vested employee stock options during the three months ended September 30, 2013 is presented below:
|  | Options |  |  | Weighted Average Grant-Date Fair Value |
Non-vested at July 1, 2013 |  |  | 20,375 |  |  | $ | 3.26 |
Granted |  |  | 15,000 |  |  |  | 3.62 |
Vested |  |  | (15,000 | ) |  |  | 3.62 |
Forfeited |  |  | - |  |  |  | - |
Non-vested at September 30, 2013 |  |  | 20,375 |  |  | $ | 4.35 |
Employee 2007 [Member] |
Option activities | A summary of option activities under the 2007 Employee Plan during the three months ended September 30, 2014 is presented as follows:
|  | Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at July 1, 2014 |  |  | 130,000 |  |  | $ | 3.93 |  |  |  | 2.57 |  |  | $ | 13 |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited or expired |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Outstanding at September 30, 2014 |  |  | 130,000 |  |  | $ | 3.93 |  |  |  | 2.33 |  |  | $ | 31 |
Exercisable at September 30, 2014 |  |  | 103,750 |  |  | $ | 4.14 |  |  |  | 1.85 |  |  | $ | 10 |
No stock options were exercised during the three months ended September 30, 2014. A summary of option activities under the 2007 Employee Plan during the three months ended September 30, 2013 is presented as follows:
|  | Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at July 1, 2013 |  |  | 263,500 |  |  | $ | 3.06 |  |  |  | 1.57 |  |  | $ | 122 |
Granted |  |  | 15,000 |  |  |  | 3.62 |  |  |  | 4.96 |  |  |  | - |
Exercised |  |  | (73,000 | ) |  |  | 1.72 |  |  |  | - |  |  |  | (111 | )
Forfeited or expired |  |  | (37,500 | ) |  |  | (4.81 | ) |  |  | - |  |  |  | - |
Outstanding at September 30, 2013 |  |  | 168,000 |  |  | $ | 3.28 |  |  |  | 1.57 |  |  | $ | 78 |
Exercisable at September 30, 2013 |  |  | 147,625 |  |  | $ | 2.95 |  |  |  | 1.49 |  |  | $ | 78 |
Director 2007 [Member] |
Option activities | A summary of option activities under the 2007 Directors Plan during the three months ended September 30, 2014 is presented as follows:
|  | Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at July 1, 2014 |  |  | 315,000 |  |  | $ | 3.62 |  |  |  | 2.63 |  |  | $ | 24 |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited or expired |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Outstanding at September 30, 2014 |  |  | 315,000 |  |  | $ | 3.62 |  |  |  | 2.37 |  |  | $ | 151 |
Exercisable at September 30, 2014 |  |  | 315,000 |  |  | $ | 3.62 |  |  |  | 2.37 |  |  | $ | 151 |
A summary of option activities under the 2007 Directors Plan during the three months ended September 30, 2013 is presented as follows:
|  | Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at July 1, 2013 |  |  | 340,000 |  |  | $ | 3.53 |  |  |  | 1.96 |  |  | $ | 80 |
Granted |  |  | 60,000 |  |  |  | 3.62 |  |  |  | 4.96 |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited or expired |  |  | (60,000 | ) |  |  | (4.81 | ) |  |  | - |  |  |  | - |
Outstanding at September 30, 2013 |  |  | 340,000 |  |  | $ | 3.32 |  |  |  | 2.62 |  |  | $ | 163 |
Exercisable at September 30, 2013 |  |  | 340,000 |  |  | $ | 3.32 |  |  |  | 2.62 |  |  | $ | 163 |

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

X
- Definition Tabular disclosure of the details pertaining to each employee stock ownership plan. + 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 + Details
Name: | us-gaap_ScheduleOfEmployeeStockOwnershipPlanESOPDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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