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STOCK OPTIONS | 12 Months Ended
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Jun. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
NOTE 12 – STOCK OPTIONS On March 31, 2011, pursuant to the Compensation Committee’s resolutions, the Company forfeited all those outstanding unvested options granted to its officers and directors and former officers on March, 1 2010 and February 7, 2010 according to the 2009 Plan. There were no issuances of stock options during the year ended June 30, 2013, 2012 and 2011. Options outstanding and related weighted average price and intrinsic value are as follows:
|  |  |  |  | Weighted |  |  |  |
|  |  |  |  | Average |  |  |  |
|  | Number |  | Exercise |  | Aggregate |
|  | of Shares |  | Price |  | Intrinsic Value |
Outstanding, June 30, 2010 |  |  | 195,291 |  | $ | 14.67 |  | $ | - |
Granted |  |  | - |  |  |  |  |  |  |
Forfeited/Canceled |  |  | (80,192) |  | $ | 14.67 |  |  |  |
Exercised |  |  | - |  |  |  |  |  |  |
Outstanding, June 30, 2011 |  |  | 115,099 |  | $ | 14.66 |  | $ | - |
Granted |  |  | - |  |  |  |  |  |  |
Forfeited/Canceled |  |  | - |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  |  |  |  |
Outstanding, June 30, 2012 |  |  | 115,099 |  | $ | 14.66 |  | $ | - |
Granted |  |  | - |  |  |  |  |  |  |
Forfeited/Canceled |  |  | - |  |  |  |  |  |  |
Exercised |  |  | - |  |  |  |  |  |  |
Outstanding, June 30, 2013 |  |  | 115,099 |  |  | 14.66 |  | $ | - |
The following table summarizes the options outstanding and exercisable as of June 30, 2013:
| Options Outstanding and Exercisable |
|  |  |  |  |  |  |  |  | Weighted |
|  |  |  |  |  | Weighted |  | Average |
|  |  | Number Outstanding |  | Average |  | Remaining |
| Range of |  | and Exercisable as of |  | Exercise |  | Contractual Life |
| Exercise Price |  | June 30, 2013 |  | Price |  | (Years) |
$ | 14.02-14.70 |  |  | 115,099 |  | $ | 14.66 |  |  | 1.50 |

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- 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
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