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