Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v2.4.0.6
Stock Based Compensation (Tables)
9 Months Ended
Mar. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
The following table summarizes the stock option activity for the nine months ended March 31, 2013:
 
Number of
Shares
 
WAEPS (1)
June 30, 2012
6,753,125

 
$1.44
Granted
1,007,500

 
$1.10
Forfeited
(591,668
)
 
$1.29
March 31, 2013
7,168,957

 
$1.36
Weighted average remaining contractual term
4.8

years
(1) Weighted average exercise price per share
Fair Value of Shares Issued Under the Stock Plan and Weighted-Average Assumptions
The fair value of stock option grants was estimated using the following weighted average assumptions for the nine months ended:
 
March 31,
 
2013
 
2012
Number of options
1,007,500
 
1,675,000
Weighted average grant date fair value per share
$0.61
 
$0.72
Expected dividend
$0.00
 
$0.00
Risk free interest rate
0.6
%
 
-
0.8
%
 
1.0
%
 
-
1.3
%
Expected life
5.1

 
-
6.0 years

 
5.3

 
-
6.0 years

Expected volatility (based on historical price)
60.3
%
 
-
63.5
%
 
61.2
%
 
-
62.8
%