STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jun. 30, 2012

Share-Based Compensation [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of the options issued under the Plan is presented in the table below:

		June 30, 2012								June 30, 2011
		Shares				Weighted Average Exercise Price				Shares				Weighted Average Exercise Price

Options outstanding, beginning of year			138,000			$	7.43				138,000			$	7.43
Granted			-				-				-				-
Canceled, forfeited or expired			-				-				-				-

Options outstanding, end of year			138,000			$	7.43				138,000			$	7.43

Options exercisable, end of year			100,400			$	7.49				80,800			$	7.53

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

Following is a summary of the status of options outstanding and exercisable at June 30, 2012:

Outstanding Options										Exercisable Options
Exercise Price				Number				Average Remaining Contractual Life		Average Exercise Price				Number				Average Remaining Contractual Life
$	7.75				128,000			1.0 year		$	7.75				94,400			1.0 year
$	3.37				10,000			2.0 year		$	3.37				6,000			2.0 year
					138,000										100,400

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The fair value of 128,000 and 10,000 stock options granted in 2008 and 2009 were calculated at the grant date using the Black−Scholes option−pricing model with the following assumptions:

Black-Scholes Option Pricing Model for 2008 options
Assumptions:
Stock Price		$	7.75
Strike Price		$	7.75
Volatility			173.84	%
Risk-free Rate			3.02	%
Expected life			5 yrs
Dividend Yield			0.00	%
Number of Options			128,000

Black-Scholes Option Pricing Model for 2009 options
Assumptions:
Stock Price		$	3.31
Strike Price		$	3.37
Volatility			408.84	%
Risk-free Rate			2.35	%
Expected life			5 yrs
Dividend Yield			0.00	%
Number of Options			10,000

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

Following is a summary of the status of warrants outstanding and exercisable at June 30, 2012:

Warrants Outstanding				Warrants Exercisable				Weighted Aaverage Exercise Price				Average Remaining Contractual Life
	139,032				139,032			$	9.30				6.0 years

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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