Cantaloupe (CTLP) 10-Q 10 May 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2017	Apr. 24, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	USA TECHNOLOGIES INC
Entity Central Index Key	896,429
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		40,331,645
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Current assets:
Cash and Cash Equivalents	$ 17,780	$ 19,272
Accounts receivable, less allowance for doubtful accounts of $2,851 and $2,814, respectively	6,734	4,899
Finance receivables, less allowance for credit losses of $25 and $0, respectively	2,057	3,588
Inventory, net	4,147	2,031
Prepaid expenses and other current assets	1,628	987
Deferred income taxes	2,271	2,271
Total current assets	34,617	33,048
Finance receivables, less current portion	7,548	3,718
Other assets	137	348
Property and equipment, net	9,173	9,765
Deferred income taxes	25,359	25,453
Intangibles, net	666	798
Goodwill	11,492	11,703
Total assets	88,992	84,833
Current liabilities:
Accounts payable	11,529	12,354
Accrued expenses	3,111	3,458
Line of credit, net	7,021	7,119
Current obligations under long-term debt	786	629
Income taxes payable		18
Warrant liabilities		3,739
Deferred gain from sale-leaseback transactions	255	860
Total current liabilities	22,702	28,177
Long-term liabilities:
Long-term debt, less current portion	1,239	1,576
Accrued expenses, less current portion	52	15
Deferred gain from sale-leaseback transactions, less current portion		40
Total long-term liabilities	1,291	1,631
Total liabilities	23,993	29,808
Commitments and contingencies (Note 10)
Shareholders' equity:
Preferred stock, no par value: Authorized shares- 1,800,000 Series A convertible preferred- Authorized shares- 900,000 Issued and outstanding shares- 445,063 with liquidation preference of $18,775 and $18,108, respectively	3,138	3,138
Common stock, no par value: Authorized shares- 640,000,000 Issued and outstanding shares- 40,327,675 and 37,783,444, respectively	245,463	233,394
Accumulated deficit	(183,602)	(181,507)
Total shareholders' equity	64,999	55,025
Total liabilities and shareholders' equity	$ 88,992	$ 84,833

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Allowance for uncollectible accounts receivable (in dollars)	$ 2,851	$ 2,814
Finance receivables, less allowance for credit losses	$ 25	$ 0
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	1,800,000	1,800,000
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	640,000,000	640,000,000
Common stock, shares issued	40,327,675	37,783,444
Common stock, shares outstanding	40,327,675	37,783,444
Series A Convertible
Preferred stock, shares authorized	900,000	900,000
Preferred stock, shares issued	445,063	445,063
Preferred stock, shares outstanding	445,063	445,063
Preferred stock, liquidation preference value (in dollars)	$ 18,775	$ 18,108

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Revenues:
License and transaction fees	$ 17,459	$ 14,727	$ 50,463	$ 41,326
Equipment sales	9,001	5,634	19,341	14,138
Total revenues	26,460	20,361	69,804	55,464
Costs of sales/revenues:
Cost of services	11,876	9,703	34,508	27,475
Cost of equipment	7,959	4,986	16,170	11,787
Total costs of sales/revenues	19,835	14,689	50,678	39,262
Gross profit	6,625	5,672	19,126	16,202
Operating expenses:
Selling, general and administrative	5,947	6,094	18,649	15,652
Depreciation and amortization	259	173	774	439
Total operating expenses	6,206	6,267	19,423	16,091
Operating income (loss)	419	(595)	(297)	111
Other income (expense):
Interest income	114	67	387	138
Interest expense	(188)	(180)	(601)	(403)
Change in fair value of warrant liabilities		(4,805)	(1,490)	(5,692)
Total other expense, net	(74)	(4,918)	(1,704)	(5,957)
Income (loss) before income taxes	345	(5,513)	(2,001)	(5,846)
(Provision) benefit for income taxes	(209)	93	(94)	(88)
Net income (loss)	136	(5,420)	(2,095)	(5,934)
Cumulative preferred dividends	(334)	(334)	(668)	(668)
Net loss applicable to common shares	$ (198)	$ (5,754)	$ (2,763)	$ (6,602)
Net loss per common share - basic and diluted (in dollars per share)	$ 0	$ (0.16)	$ (0.07)	$ (0.18)
Basic and diluted weighted average number of common shares outstanding (in shares)	40,327,697	36,161,626	39,703,690	35,972,633

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - 9 months ended Mar. 31, 2017 - USD ($) $ in Thousands	Series A ConvertiblePreferred stock	Common Stock	Accumulated Deficit	Total
Balance at Jun. 30, 2016	$ 3,138	$ 233,394	$ (181,507)	$ 55,025
Balance (in shares) at Jun. 30, 2016	445,063	37,783,444
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Reclass of fair value of warrant liability upon exercise of warrants		$ 5,229		5,229
Exercise of warrants		$ 6,193		6,193
Exercise of warrants (in shares)		2,401,408
Stock based compensation 2013 Stock Incentive Plan		$ 288		288
Stock based compensation 2013 Stock Incentive Plan (in shares)		149,356
Stock based compensation 2014 Stock Option Incentive Plan		$ 155		155
Stock based compensation 2015 Equity Incentive Plan		235		235
Retirement of common stock		$ (31)		(31)
Retirement of common stock (in shares)		(6,533)
Net loss			(2,095)	(2,095)
Balance at Mar. 31, 2017	$ 3,138	$ 245,463	$ (183,602)	$ 64,999
Balance (in shares) at Mar. 31, 2017	445,063	40,327,675

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
OPERATING ACTIVITIES:
Net income (loss)	$ 136	$ (5,420)	$ (2,095)	$ (5,934)
Adjustments to reconcile net income (loss) to net cash provided/(used) by operating activities:
Charges incurred in connection with the vesting and issuance of common stock and common stock options for employee and director compensation	233	142	678	651
Gain on disposal of property and equipment	(28)	(15)	(59)	(57)
Amortization of deferred financing fees	72		98
Bad debt expense	127	506	577	980
Depreciation	1,165	1,190	3,642	3,863
Amortization of intangible assets	45	44	132	44
Change in fair value of warrant liabilities		4,805	1,490	5,692
Deferred income taxes, net	209	(93)	94	88
Recognition of deferred gain from sale-leaseback transactions	(216)	(215)	(646)	(645)
Changes in operating assets and liabilities:
Accounts receivable	(41)	(1,660)	(2,388)	(2,070)
Finance receivables	(4,232)	(366)	(2,113)	(735)
Inventory	647	250	(2,042)	1,118
Prepaid expenses and other assets	136	(160)	(406)	(366)
Accounts payable	2,441	4,154	(825)	1,487
Accrued expenses	160	1,166	(414)	1,151
Income taxes payable	(6)		(18)	(70)
Net cash provided/(used) by operating activities	848	4,328	(4,295)	5,197
INVESTING ACTIVITIES:
Purchase and additions of property and equipment	(183)	(164)	(792)	(331)
Purchase of property for rental program	(691)		(2,026)
Proceeds from sale of property and equipment	44	19	105	124
Cash paid for assets acquired from VendScreen		(5,625)		(5,625)
Net cash used by investing activities	(830)	(5,770)	(2,713)	(5,832)
FINANCING ACTIVITIES:
Cash used for the retirement of common stock			(31)	(40)
Payment of deferred financing costs	(90)		(90)
Proceed from exercise of common stock warrants		1,652	6,193	1,681
Proceed (payments) from line of credit, net		33		3,033
Repayment of long-term debt	(182)	(151)	(556)	(512)
Net cash (used)/provided by financing activities	(272)	1,534	5,516	4,162
Net (decrease) increase in cash	(254)	92	(1,492)	3,527
Cash at beginning of period	18,034	14,809	19,272	11,374
Cash at end of period	17,780	14,901	17,780	14,901
Supplemental disclosures of cash flow information:
Interest paid in cash	59	191	528	404
Depreciation expense allocated to cost of services	950	1,051	3,000	3,436
Reclass of rental program property to inventory, net	8	347	74	845
Prepaid items financed with debt			54	103
Equipment and property acquired under capital lease	54	409	326	444
Disposal of property and equipment	$ 87	189	$ 748	526
Fair value of common stock warrants at issuance recorded as a debt discount		52		52
Debt financing cost financed with debt		$ 79		$ 79

BUSINESS

BUSINESS	9 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	USA Technologies, Inc. Notes to Consolidated Financial Statements (Unaudited) 1. BUSINESS USA Technologies, Inc. (the “Company”, “We”, “USAT”, or “Our”) was incorporated in the Commonwealth of Pennsylvania in January 1992. We are a provider of technology-enabled solutions and value-added services that facilitate electronic payment transactions primarily within the unattended Point of Sale (“POS”) market. We are a leading provider in the small ticket, beverage and food vending industry and are expanding our solutions and services to other unattended market segments, such as amusement, commercial laundry, kiosk and others. Since our founding, we have designed and marketed systems and solutions that facilitate electronic payment options, as well as telemetry Internet of Things (“IoT”) and machine-to-machine (“M2M”) services, which include the ability to remotely monitor, control, and report on the results of distributed assets containing our electronic payment solutions. Historically, these distributed assets have relied on cash for payment in the form of coins or bills, whereas, our systems allow them to accept cashless payments such as through the use of credit or debit cards or other emerging contactless forms, such as mobile payment. INTERIM FINANCIAL INFORMATION The accompanying unaudited consolidated financial statements of USA Technologies, Inc. have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements and therefore should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended June 30, 2016. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting of normal recurring adjustments, have been included. Operating results for the three and nine months ended March 31, 2017 are not necessarily indicative of the results that may be expected for the year ending June 30, 2017. The balance sheet at June 30, 2016 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements.

ACCOUNTING POLICIES

ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
ACCOUNTING POLICIES	2. ACCOUNTING POLICIES CONSOLIDATION The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. USE OF ESTIMATES The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. CASH AND CASH EQUIVALENTS Cash equivalents represent all highly liquid investments with original maturities of three months or less. Cash equivalents are comprised of money market funds. The Company maintains its cash in bank deposit accounts, which may exceed federally insured limits at times. ACCOUNTS RECEIVABLE AND ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS Accounts receivable include amounts due to the Company for sales of equipment, other amounts due from customers, merchant service receivables, and unbilled amounts due from customers, net of the allowance for uncollectible accounts. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments, including from a shortfall in the customer transaction fund flow from which the Company would normally collect amounts due. The allowance is determined through an analysis of various factors including the aging of the accounts receivable, the strength of the relationship with the customer, the capacity of the customer transaction fund flow to satisfy the amount due from the customer, an assessment of collection costs and other factors. The allowance for doubtful accounts receivable is management’s best estimate as of the respective reporting date. The Company writes off accounts receivable against the allowance when management determines the balance is uncollectible and the Company ceases collection efforts. Management believes that the allowance recorded is adequate to provide for its estimated credit losses. FINANCE RECEIVABLES The Company offers extended payment terms to certain customers for equipment sales under its Quick Start Program. In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification® (“ASC”) Topic 840, “Leases”, agreements under the Quick Start Program qualify for sales-type lease accounting. Accordingly, the future minimum lease payments are classified as finance receivables in the Company’s consolidated balance sheets. Finance receivables for Quick Start leases are generally for a sixty month term. Finance receivables are carried at their contractual amount and charged off against the allowance for credit losses when management determines that recovery is unlikely and the Company ceases collection efforts. The Company recognizes a portion of the note or lease payments as interest income in the accompanying consolidated financial statements based on the effective interest rate method. INVENTORY, Net Inventory consists of finished goods and packaging materials. The Company’s inventory is stated at the lower of cost (average cost basis) or market. PROPERTY AND EQUIPMENT, Net Property and equipment are recorded at cost. Property and equipment are depreciated on the straight-line basis over the estimated useful lives of the related assets. Leasehold improvements are amortized on the straight-line basis over the lesser of the estimated useful life of the asset or the respective lease term. GOODWILL AND INTANGIBLE ASSETS The Company’s intangible assets include goodwill, non-compete agreements, brand, developed technology and customer relationships. Goodwill represents the excess of cost over fair value of the net assets purchased in acquisitions. The Company accounts for goodwill in accordance with ASC 350, “Intangibles – Goodwill and Other”. Under ASC 350, goodwill is not amortized to earnings, but instead is subject to periodic testing for impairment. Testing for impairment is to be done at least annually and at other times if events or circumstances arise that indicate that impairment may have occurred. The Company has selected April 1 as its annual test date. FAIR VALUE OF FINANCIAL INSTRUMENTS The FASB issued Accounting Standards Update (“ASU”) 2010-06, “Fair Value Measurements and Disclosures (“Topic 820”): Improving Disclosures about Fair Value Measurements.” ASU 2010-06 amends certain disclosure requirements of Subtopic 820-10. This ASU provides additional disclosures for transfers in and out of Levels 1 and 2 and for activity in Level 3. This ASU also clarifies certain other existing disclosure requirements including level of desegregation and disclosures around inputs and valuation techniques. The Company’s financial assets and liabilities are accounted for in accordance with ASC 820 “Fair Value Measurement.” Under ASC 820 the Company uses inputs from the three levels of the fair value hierarchy to measure its financial assets and liabilities. The three levels are as follows: Level 1- Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2- Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3- Inputs are unobservable and reflect the Company’s assumptions that market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available. The Company’s financial instruments, principally accounts receivable, short-term finance receivables, prepaid expenses and other assets, accounts payable and accrued expenses, are carried at cost which approximates fair value due to the short-term maturity of these instruments. The fair value of the Company’s obligations under its long-term debt agreements and the long-term portion of its finance receivables approximates their carrying value as such instruments are at market rates currently available to the Company. REVENUE RECOGNITION Revenue from the sale or QuickStart lease of equipment is recognized on the terms of freight-on-board shipping point. Activation fee revenue, if applicable, is recognized when the Company’s cashless payment device is initially activated for use on the Company network. Transaction processing revenue is recognized upon the usage of the Company’s cashless payment and control network. License fees for access to the Company’s devices and network services are recognized on a monthly basis. In all cases, revenue is only recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed and determinable, and collection of the resulting receivable is reasonably assured. The Company estimates an allowance for product returns at the date of sale and license and transaction fee refunds on a monthly basis. The company makes an adjustment for rebates and product returns. ePort hardware is available to customers under the QuickStart program pursuant to which the customer would enter into a five-year non-cancelable lease with either the Company or a third-party financing company for the devices. The Company utilizes its best estimate of selling price when calculating the revenue to be recorded under these leases. The leases qualify for sales type lease accounting. Accordingly, the Company recognizes a portion of lease payments as interest income for leases not placed with a third-party financing company. At the end of the lease period, the customer would have the option to purchase the device at its residual value. PREFERRED STOCK The Company adopted the provisions of ASU 2014-16 in determining whether the Company’s Series A Convertible Preferred Stock (“preferred stock”) is more equity-like or debt-like, and whether derivatives embedded in the preferred stock, if any, must be bifurcated and accounted for separately from its host contract. Based upon management’s review of the preferred stock features, management has determined that the preferred stock is more equity-like and that the embedded derivatives do not require bifurcation. As such, the adoption of this standard did not have a material impact on the company's financial statements. ACCOUNTING FOR EQUITY AWARDS In accordance with the ASC Topic 718, the cost of employee services received in exchange for an award of equity instruments is based on the grant-date fair value of the award and allocated over the vesting period of the award. INCOME TAXES The Company follows the ASC Topic 740, “Accounting for Uncertainty in Income Taxes”, which provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the consolidated financial statements. Accordingly, tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized upon the adoption of ASC Topic 740 and in subsequent periods. Income taxes are computed using the asset and liability method of accounting. Under the asset and liability method, a deferred tax asset or liability is recognized for estimated future tax effects attributable to temporary differences and carryforwards. The measurement of deferred income tax assets is adjusted by a valuation allowance, if necessary, to recognize future tax benefits only to the extent that, based on available evidence, it is more likely than not such benefits will be realized. The Company recognizes interest and penalties, if any, related to uncertain tax positions in selling, general and administrative expenses. No interest or penalties related to uncertain tax positions were accrued or incurred during the three and nine months ended March 31, 2017 and 2016. EARNINGS (LOSS) PER COMMON SHARE Basic earnings (loss) per share are calculated by dividing income (loss) applicable to common shares by the weighted average common shares outstanding for the period. Diluted earnings per share are calculated by dividing income (loss) applicable to common shares by the weighted average common shares outstanding for the period plus the effect of potential common shares unless such effect is anti-dilutive. SOFTWARE DEVELOPMENT COSTS The Company follows the ASC Topic 350-40, “Accounting for the Cost of Computer Software Developed or obtained for Internal Use”, which provides for guidance for what costs can be capitalized for internal use. Capitalized costs for internal-use software are included in fixed assets in the consolidated balance sheet and are amortized over three years. Costs incurred during the preliminary project along with post-implementation stages of internal use computer software development and costs incurred to maintain existing product offerings are expensed as incurred. The capitalization and ongoing assessment of recoverability of development costs require considerable judgment by management with respect to certain external factors, including, but not limited to, technological and economic feasibility and estimated economic life. RECENT ACCOUNTING PRONOUNCEMENTS The Company is evaluating whether the effects of the following recent accounting will have a material effect on the Company’s consolidated financial position, results of operations or cash flows. In January 2017, the FASB issued ASU 2017-04 – “Intangibles-Goodwill and Other (Topic 350): Simplifying the test for Goodwill Impairment. RECLASSIFICATION Commencing with the June 30, 2016 financial statements, the Company changed the manner in which it presents certain unfunded finance receivables in its consolidated balance sheets and the related statements of cash flows. These finance receivables have yet to be and are expected to be funded by a third-party funding source. The previous accounting classification recorded these amounts as accounts receivable in the consolidated balance sheets and the related statements of cash flows. The impact of this change on the Statement of Cash Flows is as follows: Three months ended Nine months ended March 31, 2016 March 31, 2016 Accounts Finance Accounts Finance Receivable Receivables Receivable Receivables Per Original Statement of Cash Flows $ (1,872) $ (154) $ (3,352) $ 547 Reclass of Unfunded Leases, beginning of period (starting BS) (2,096) 2,096 (1,026) 1,026 Reclass of Finance Receivables, end of period 2,308 (2,308) 2,308 (2,308) Impact from the reclassification 212 (212) 1,282 (1,282) Adjusted Statement of Cash Flows $ (1,660) $ (366) $ (2,070) $ (735)

FINANCE RECEIVABLES

FINANCE RECEIVABLES	9 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
FINANCE RECEIVABLES	3. FINANCE RECEIVABLES Finance receivables consist of the following: March 31, June 30, ($ in thousands) 2017 2016 (unaudited) Total finance receivables $ 9,605 $ 7,306 Less current portion 2,057 3,588 Non-current portion of finance receivables $ 7,548 $ 3,718 The Company collects monthly payments of its finance receivables from the customers’ transaction fund flow. Accordingly, as the fund flow from these customers’ transactions is generally sufficient to satisfy the amount due to the Company, the risk of loss is considered low and the Company has provided for an allowance for credit losses for finance receivables of $25 thousand and zero as of March 31, 2017 and June 30, 2016, respectively. The number of Finance Receivables that are in a loss position is nine and zero as of March 31, 2017 and June 30, 2016 respectively. Credit Quality Indicators Credit risk profile based on payment activity: March 31, June 30, ($ in thousands) 2017 2016 (unaudited) Performing $ 9,527 $ 7,174 Nonperforming 78 132 Total $ 9,605 $ 7,306 Age Analysis of Past Due Finance Receivables As of March 31, 2017 31 – 60 61 – 90 Greater than Total Days Past Days Past 90 Days Past Total Past Finance ($ in thousands) Due Due Due Due Current Receivables QuickStart Leases $ 31 $ 1 $ 21 $ 53 $ 9,552 $ 9,605 Age Analysis of Past Due Finance Receivables As of June 30, 2016 31 – 60 61 – 90 Greater than Total Days Past Days Past 90 Days Past Total Past Finance ($ in thousands) Due Due Due Due Current Receivables QuickStart Leases $ 98 $ 31 $ 3 $ 132 $ 7,174 $ 7,306

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	4. GOODWILL AND INTANGIBLES On January 15, 2016, the Company executed an Asset Purchase Agreement with VendScreen, Inc (“VendScreen”) a Portland, Oregon based developer of vending industry cashless payment technology, by which it acquired substantially all of VendScreen’s assets and assumed specified liabilities, for a cash payment of $5.62 million and the corresponding goodwill recorded was $4.0 million. In December 2016, the company finalized the opening balance sheet of VendScreen and recorded a reduction of goodwill for $211 thousand and increased finance receivables for the same amount. The final goodwill amount related to VendScreen opening balance sheet is $3.8 million. The following table summarizes the final purchase price allocation to reflect the fair values of the assets acquired and liabilities assumed at the date of acquisition. Consideration: Fair value of total consideration paid in cash $ 5,625 Acquisition related costs: $ 842 Recognized amounts of identifiable assets acquired and liabilities assumed: Financial Assets: Accounts Receivable 3 Finance Receivables 839 Other Current Assets 20 Deferred Income Taxes 18 880 Property, Plant & Equipment 81 Identifiable Intangible Assets: Developed Technology 639 Customer Relationships 149 Brand 95 Noncompete Agreement 2 Fair Value of Intangible Assets 885 Financial Liabilities Accrued Liabilities $ (50) Total identifiable net assets $ 1,796 Goodwill $ 3,829 Total Fair Value $ 5,625 During the three and nine months ending March 31, 2017, there was $45 thousand and $132 thousand, respectively, of amortization expense relating to acquired intangible assets. There was $44 amortization expense relating to acquired intangible assets during the three and nine months ended March 31, 2016. Intangible asset balances consisted of the following: Balance Additions/ Balance Amortization ($ in thousands) June 30, 2016 Adjustments Amortization March 31, 2017 Period Intangible Assets: Non-compete agreements $ 1 $ — $ (1) $ — 2 years Brand 79 — (24) 55 3 years Developed technology 576 — (96) 480 5 years Customer relationships 142 — (11) 131 10 years Total Intangible Assets $ 798 $ — $ (132) $ 666 Goodwill $ 11,703 $ (211) $ — $ 11,492 Indefinite

LINE OF CREDIT

LINE OF CREDIT	9 Months Ended
	Mar. 31, 2017
Line Of Credit Facility [Abstract]
LINE OF CREDIT	5. LINE OF CREDIT During the fiscal year ended June 30, 2016, the Company entered into a Loan and Security Agreement and other ancillary documents (as amended, the “Heritage Loan Documents”) with Heritage Bank of Commerce (“Heritage Bank”), providing for a secured asset-based revolving line of credit in an amount of up to $12.0 million (the “Heritage Line of Credit”) at an interest rate calculated based on the Federal Reserves’ Prime, which was 3.75% at March 31, 2017, plus 2.25%. The Heritage Line of Credit and the Company’s obligations under the Heritage Loan Documents are secured by substantially all of the Company’s assets, including its intellectual property. During March 2017, the Company entered into the third amendment with Heritage Bank that extended the maturity date of the Heritage Line of Credit from March 29, 2017 to September 30, 2018. The Company paid a toal of $90 thousand in deferred financing costs. At the time of maturity, all outstanding advances under the Heritage Line of Credit as well as any unpaid interest are due and payable. Prior to maturity of the Heritage Line of Credit, the Company may prepay amounts due under the Heritage Line of Credit without penalty, and subject to the terms of the Heritage Loan Documents, may re-borrow any such amounts. The Heritage Loan Documents contain customary representations and warranties and affirmative and negative covenants applicable to the Company. The Heritage Loan Documents also require the Company to achieve a minimum Adjusted EBITDA, as defined in the Heritage Loan Documents, measured on a quarterly basis; that the number of the Company’s connections as of the end of each fiscal quarter shall not decrease below a specified number or by more than five percent as compared to the number of the Company’s connections as of the end of the immediately prior fiscal quarter; and that the Company shall maintain a minimum balance of unrestricted cash at Heritage Bank. The balance due on the Heritage Line of Credit was $7.0 million at March 31, 2017 and $7.1 million at June 30, 2016. Included in the Heritage Line of Credit balance is $90 thousand of unamortized debt issuance costs, which is reflected in our net liability of $7.0 million for the quarter ending March 31, 2017. As of March 31, 2017, $5.0 million was available under our line of credit. Interest expense on the line of credit was approximately $100 thousand and $300 thousand for the three and nine months ended March 31, 2017, respectively.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
LONG-TERM DEBT	6. LONG-TERM DEBT The Company periodically enters into capital lease obligations to finance certain office, network equipment and related support for use in its daily operations. During the nine-month period ended March 31, 2017, the Company commenced capital lease obligations of $380 thousand. The obligations are due in two to five years in monthly or quarterly installments of $1 thousand to $21 thousand. The value of the acquired equipment is included in property and equipment and amortized accordingly.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	7. FAIR VALUE OF FINANCIAL INSTRUMENTS As of June 30, 2016, the fair values of the Company’s Level 3 financial instrument totaled $3.7 million for 2.2 million warrants. The Level 3 financial instrument consist of common stock warrants issued by the Company in March 2011, which include features requiring liability treatment of the warrants. The fair value of warrants issued in March 2011 to purchase shares of the Company’s common stock is based on valuations performed by an independent third-party valuation firm. The fair value was determined using proprietary valuation models using the quality of the underlying securities of the warrants, restrictions on the warrants and security underlying the warrants, time restrictions and precedent sale transactions completed in the secondary market or in other private transactions. During the nine months ended March 31, 2017 all of the aforementioned warrants were exercised and the then-fair value warrant liability was reclassified as Common Stock. The following table summarizes the changes in the Company’s Level 3 financial instruments for the three and nine months ended March 31, 2017 and 2016. Three months ended Nine months ended March 31, March 31, ($ in thousands) 2017 2016 2017 2016 Beginning balance $ — $ (1,865) $ (3,739) $ (978) Increase due to change in fair value of warrant liabilities — (4,805) (1,490) (5,692) Reclass of fair value of warranty liability to common stock upon exercise of warrants — 706 5,229 706 Ending balance $ — $ (5,964) $ — $ (5,964) There were no transfers of assets or liabilities between level 1, level 2, or level 3 during the three and nine months ended March 31, 2017 and March 31, 2016. As of March 31, 2017 and June 30, 2016, the Company held no Level 1 or Level 2 financial instruments.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	8. INCOME TAXES For the three and nine months ended March 31, 2017, income tax expense of $209 thousand and $94 thousand, respectively, (substantially all deferred income taxes) were recorded. The expense are based upon income before income taxes using an estimated annual effective income tax rate of 31% for the fiscal year ending June 30, 2017. The provision for the nine months ended March 31, 2017 consists of a charge for the tax effect of the change in the fair value of warrant liabilities which was treated discretely offset by a tax benefit based upon income before benefit for income taxes using the estimated annual effective income tax rate of 23% for the fiscal year ending June 30, 2017. All of those warrants were exercised as of September 30, 2016. For the three and nine months ended March 31, 2016, an income tax benefit/(provision) of $93 thousand and $(88) thousand respectively, (substantially all deferred income taxes) were recorded. The benefit (provision) consist of a charge for the tax effect of the change in the fair value of warrant liabilities which was treated discretely offset by a tax benefit based upon loss before benefit (provision) for income taxes using an estimated annual effective income tax rate of 33% for the fiscal year ended June 30, 2016.

EQUITY

EQUITY	9 Months Ended
	Mar. 31, 2017
Equity [Abstract]
EQUITY	9. EQUITY WARRANTS During the three months ended March 31, 2017 and 2016, there were 0 and 634,100 warrants exercised. During the nine months ended March 31, 2017, 2,376,675 warrants were exercised at $2.6058 per share yielding proceeds of $6.2 million, and 24,733 warrants were exercised at $2.10 per share in a cashless exercise. The following table summarizes warrant activity for the three and nine months ended March 31, 2017 and 2016: Three months ended Nine months ended March 31, March 31, 2017 2016 2017 2016 Beginning balance 23,978 4,298,000 2,445,653 4,309,000 Issued — 23,978 — 23,978 Exercised — (634,100) (2,401,408) (645,100) Expired — — — — Cancelled — — (20,267) — Ending balance 23,978 3,687,878 23,978 3,687,878 STOCK OPTIONS The Company estimates the grant date fair value of the stock options it grants using a Black-Scholes valuation model. The Company’s assumption for expected volatility is based on its historical volatility data related to market trading of its own common stock. The Company bases its assumptions for expected life of the new stock option grants on the life of the option granted, and if relevant, its analysis of the historical exercise patterns of its stock options. The dividend yield assumption is based on dividends expected to be paid over the expected life of the stock option. The risk-free interest rate assumption is determined by using the U.S. Treasury rates of the same period as the expected option term of each stock option. In August 2016 stock options were awarded to purchase up to 20,080 shares of common stock at an exercise price of $4.98 per share. The options vest on August 31, 2017, and expire if not exercised prior to August 31, 2023. The options are intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code of 1986, as amended. During the quarter ending March 31, 2017, three employees were issued the option to purchase 105,000 shares of common stock, of which 75,000 are classified as non-qualified stock options, exercisable at $4.00 per share, and the remaining 30,000 are intended to qualify as incentive stock options, exercisable at $4.05 per share. Of the 105,000 shares of common stock issued for the option to purchase, 95,000 shares expire on March 31, 2024 and 10,000 expire on February 6, 2024. The fair value of options granted during the nine months ended March 31, 2017 and 2016 was estimated using the following weighted average assumptions: Nine months ended March 31, 2017 2016 Expected volatility 49 - 50 % 59 - 66 % Expected life 3 - 4 years 4 - 4.5 years Expected dividends — % — % Risk-free interest rate 1.06 - 1.90 % 1.34 - 1.49 % Number of options granted 125,080 194,586 Weighted average exercise price $ 4.17 $ 3.21 Weighted average grant date fair value $ 1.68 $ 1.64 Stock based compensation related to stock options for the three months ended March 31, 2017 and 2016 was $61 thousand and $67 thousand, respectively and $155 thousand and $274 thousand, respectively for the nine months ended March 31, 2017 and 2016. COMMON STOCK On July 1, 2016 $40 thousand of stock grants were awarded to each non-employee Director based on the prior 30-day average closing price of the Company’s Common Stock, for a total of 56,784 shares. The shares vest as follows: 18,960 on July 1, 2017, 18,960 on July 1, 2018 and 18,954 on July 1, 2019. The total expense recognized for these grants during the three and nine months ended March 31, 2017 was $37 thousand and $110 thousand. During the nine months ended March 31, 2017, the Company awarded an aggregate of 78,711 shares to its Chief Executive Officer and Chief Services Officer under its fiscal year 2016 long term stock incentive plan and an aggregate of 13,771 shares to three non-employee Directors in satisfaction of board fees. During the nine-month period, the Chief Executive Officer cancelled 6,533 shares of Common Stock awarded to him under the 2016 fiscal year long term stock incentive plan in satisfaction of $31 thousand of related payroll obligations. During the nine months ended March 31, 2017, the Company issued an aggregate of 2,401,408 shares upon the exercise of outstanding warrants. LTI PLANS The Board approved the Fiscal Year 2017 Long-Term Stock Incentive Plan (the “2017 LTI Stock Plan”) which provides that executive officers would be awarded shares of common stock of the Company in the event that certain metrics relating to the Company’s 2017 fiscal year would result in specified ranges of year-over-year percentage growth. The metrics are total number of connections as of June 30, 2017 as compared to total number of connections as of June 30, 2016 (50% weighting) and adjusted EBITDA earned during the 2017 fiscal year as compared to the adjusted EBITDA earned during the 2016 fiscal year (50% weighting). If none of the minimum threshold year-over-year percentage target goals are achieved, the executive officers would not be awarded any shares. If all of the year-over-year percentage target goals are achieved, the executive officers would be awarded shares having the following value: Chief Executive Officer (“CEO”) - $675,000 (150% of base salary), Chief Services Officer (“CSO”) - $250,000 (100% of base salary), and Chief Financial Officer (“CFO”) - $103,125 (75% of base salary less proration for the current fiscal year). If all of the maximum distinguished year-over-year percentage target goals are achieved, the executive officers would be awarded shares having the following value: CEO - $1,012,500 (225% of base salary), CSO - $375,000 (150% of base salary), and CFO - $154,688 (112.50% of base salary less prorated for the current fiscal year). Assuming the minimum threshold year-over-year percentage target goal would be achieved for a particular metric, the number of shares to be awarded for that metric would be determined on a pro rata basis, provided that the award would not exceed the maximum distinguished award for that metric. The shares awarded under the 2017 LTI Stock Plan would vest as follows: one-third at the time of issuance; one-third on June 30, 2018; and one-third on June 30, 2019. The Company had long-term stock incentive plans (“LTI”) in prior fiscal years for its then executive officers. Stock based compensation related to the LTI plans was as follows in the three and nine months ended March 31, 2017 and 2016: Three months ended Nine months ended March 31, March 31, ($ in thousands, except per share data) 2017 2016 2017 2016 FY17 LTI Plan $ $ — $ $ — FY16 LTI Plan 23 24 FY15 LTI Plan 3 8 FY14 LTI Plan — 2 — Total $ 107 $ 34 $ $ 192

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	10. COMMITMENTS AND CONTINGENCIES During the nine months ended March 31, 2017 the Company entered into a lease agreement for its operations in Portland, Oregon, which commenced October 1, 2016. The new location consists of 5,362 square feet and will expire in December 2019. The lease includes monthly rental payments of $11 thousand. The straight-line rent expense for this lease is $11 thousand per month. From time to time, the Company is involved in various legal proceedings arising during the normal course of business which, in the opinion of the management of the Company, will not have a material adverse effect on the Company’s financial position, results of operations or cash flows.

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2017
Business Description And Accounting Policies [Abstract]
CONSOLIDATION	CONSOLIDATION The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
USE OF ESTIMATES	USE OF ESTIMATES The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS Cash equivalents represent all highly liquid investments with original maturities of three months or less. Cash equivalents are comprised of money market funds. The Company maintains its cash in bank deposit accounts, which may exceed federally insured limits at times.
ACCOUNTS RECEIVABLE AND ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS	ACCOUNTS RECEIVABLE AND ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS Accounts receivable include amounts due to the Company for sales of equipment, other amounts due from customers, merchant service receivables, and unbilled amounts due from customers, net of the allowance for uncollectible accounts. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments, including from a shortfall in the customer transaction fund flow from which the Company would normally collect amounts due. The allowance is determined through an analysis of various factors including the aging of the accounts receivable, the strength of the relationship with the customer, the capacity of the customer transaction fund flow to satisfy the amount due from the customer, an assessment of collection costs and other factors. The allowance for doubtful accounts receivable is management’s best estimate as of the respective reporting date. The Company writes off accounts receivable against the allowance when management determines the balance is uncollectible and the Company ceases collection efforts. Management believes that the allowance recorded is adequate to provide for its estimated credit losses.
FINANCE RECEIVABLES	FINANCE RECEIVABLES The Company offers extended payment terms to certain customers for equipment sales under its Quick Start Program. In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification® (“ASC”) Topic 840, “Leases”, agreements under the Quick Start Program qualify for sales-type lease accounting. Accordingly, the future minimum lease payments are classified as finance receivables in the Company’s consolidated balance sheets. Finance receivables for Quick Start leases are generally for a sixty month term. Finance receivables are carried at their contractual amount and charged off against the allowance for credit losses when management determines that recovery is unlikely and the Company ceases collection efforts. The Company recognizes a portion of the note or lease payments as interest income in the accompanying consolidated financial statements based on the effective interest rate method.
INVENTORY, Net	INVENTORY, Net Inventory consists of finished goods and packaging materials. The Company’s inventory is stated at the lower of cost (average cost basis) or market.
PROPERTY AND EQUIPMENT, Net	PROPERTY AND EQUIPMENT, Net Property and equipment are recorded at cost. Property and equipment are depreciated on the straight-line basis over the estimated useful lives of the related assets. Leasehold improvements are amortized on the straight-line basis over the lesser of the estimated useful life of the asset or the respective lease term.
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The Company’s intangible assets include goodwill, non-compete agreements, brand, developed technology and customer relationships. Goodwill represents the excess of cost over fair value of the net assets purchased in acquisitions. The Company accounts for goodwill in accordance with ASC 350, “Intangibles – Goodwill and Other”. Under ASC 350, goodwill is not amortized to earnings, but instead is subject to periodic testing for impairment. Testing for impairment is to be done at least annually and at other times if events or circumstances arise that indicate that impairment may have occurred. The Company has selected April 1 as its annual test date.
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The FASB issued Accounting Standards Update (“ASU”) 2010-06, “Fair Value Measurements and Disclosures (“Topic 820”): Improving Disclosures about Fair Value Measurements.” ASU 2010-06 amends certain disclosure requirements of Subtopic 820-10. This ASU provides additional disclosures for transfers in and out of Levels 1 and 2 and for activity in Level 3. This ASU also clarifies certain other existing disclosure requirements including level of desegregation and disclosures around inputs and valuation techniques. The Company’s financial assets and liabilities are accounted for in accordance with ASC 820 “Fair Value Measurement.” Under ASC 820 the Company uses inputs from the three levels of the fair value hierarchy to measure its financial assets and liabilities. The three levels are as follows: Level 1- Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2- Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3- Inputs are unobservable and reflect the Company’s assumptions that market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available. The Company’s financial instruments, principally accounts receivable, short-term finance receivables, prepaid expenses and other assets, accounts payable and accrued expenses, are carried at cost which approximates fair value due to the short-term maturity of these instruments. The fair value of the Company’s obligations under its long-term debt agreements and the long-term portion of its finance receivables approximates their carrying value as such instruments are at market rates currently available to the Company.
REVENUE RECOGNITION	REVENUE RECOGNITION Revenue from the sale or QuickStart lease of equipment is recognized on the terms of freight-on-board shipping point. Activation fee revenue, if applicable, is recognized when the Company’s cashless payment device is initially activated for use on the Company network. Transaction processing revenue is recognized upon the usage of the Company’s cashless payment and control network. License fees for access to the Company’s devices and network services are recognized on a monthly basis. In all cases, revenue is only recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed and determinable, and collection of the resulting receivable is reasonably assured. The Company estimates an allowance for product returns at the date of sale and license and transaction fee refunds on a monthly basis. The company makes an adjustment for rebates and product returns. ePort hardware is available to customers under the QuickStart program pursuant to which the customer would enter into a five-year non-cancelable lease with either the Company or a third-party financing company for the devices. The Company utilizes its best estimate of selling price when calculating the revenue to be recorded under these leases. The leases qualify for sales type lease accounting. Accordingly, the Company recognizes a portion of lease payments as interest income for leases not placed with a third-party financing company. At the end of the lease period, the customer would have the option to purchase the device at its residual value.
PREFERRED STOCK	PREFERRED STOCK The Company adopted the provisions of ASU 2014-16 in determining whether the Company’s Series A Convertible Preferred Stock (“preferred stock”) is more equity-like or debt-like, and whether derivatives embedded in the preferred stock, if any, must be bifurcated and accounted for separately from its host contract. Based upon management’s review of the preferred stock features, management has determined that the preferred stock is more equity-like and that the embedded derivatives do not require bifurcation. As such, the adoption of this standard did not have a material impact on the company's financial statements.
ACCOUNTING FOR EQUITY AWARDS	ACCOUNTING FOR EQUITY AWARDS In accordance with the ASC Topic 718, the cost of employee services received in exchange for an award of equity instruments is based on the grant-date fair value of the award and allocated over the vesting period of the award.
INCOME TAXES	INCOME TAXES The Company follows the ASC Topic 740, “Accounting for Uncertainty in Income Taxes”, which provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the consolidated financial statements. Accordingly, tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized upon the adoption of ASC Topic 740 and in subsequent periods. Income taxes are computed using the asset and liability method of accounting. Under the asset and liability method, a deferred tax asset or liability is recognized for estimated future tax effects attributable to temporary differences and carryforwards. The measurement of deferred income tax assets is adjusted by a valuation allowance, if necessary, to recognize future tax benefits only to the extent that, based on available evidence, it is more likely than not such benefits will be realized. The Company recognizes interest and penalties, if any, related to uncertain tax positions in selling, general and administrative expenses. No interest or penalties related to uncertain tax positions were accrued or incurred during the three and nine months ended March 31, 2017 and 2016.
EARNINGS (LOSS) PER COMMON SHARE	EARNINGS (LOSS) PER COMMON SHARE Basic earnings (loss) per share are calculated by dividing income (loss) applicable to common shares by the weighted average common shares outstanding for the period. Diluted earnings per share are calculated by dividing income (loss) applicable to common shares by the weighted average common shares outstanding for the period plus the effect of potential common shares unless such effect is anti-dilutive.
SOFTWARE DEVELOPMENT COSTS	SOFTWARE DEVELOPMENT COSTS The Company follows the ASC Topic 350-40, “Accounting for the Cost of Computer Software Developed or obtained for Internal Use”, which provides for guidance for what costs can be capitalized for internal use. Capitalized costs for internal-use software are included in fixed assets in the consolidated balance sheet and are amortized over three years. Costs incurred during the preliminary project along with post-implementation stages of internal use computer software development and costs incurred to maintain existing product offerings are expensed as incurred. The capitalization and ongoing assessment of recoverability of development costs require considerable judgment by management with respect to certain external factors, including, but not limited to, technological and economic feasibility and estimated economic life.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS The Company is evaluating whether the effects of the following recent accounting will have a material effect on the Company’s consolidated financial position, results of operations or cash flows. In January 2017, the FASB issued ASU 2017-04 – “Intangibles-Goodwill and Other (Topic 350): Simplifying the test for Goodwill Impairment.
RECLASSIFICATION	RECLASSIFICATION Commencing with the June 30, 2016 financial statements, the Company changed the manner in which it presents certain unfunded finance receivables in its consolidated balance sheets and the related statements of cash flows. These finance receivables have yet to be and are expected to be funded by a third-party funding source. The previous accounting classification recorded these amounts as accounts receivable in the consolidated balance sheets and the related statements of cash flows. The impact of this change on the Statement of Cash Flows is as follows: Three months ended Nine months ended March 31, 2016 March 31, 2016 Accounts Finance Accounts Finance Receivable Receivables Receivable Receivables Per Original Statement of Cash Flows $ (1,872) $ (154) $ (3,352) $ 547 Reclass of Unfunded Leases, beginning of period (starting BS) (2,096) 2,096 (1,026) 1,026 Reclass of Finance Receivables, end of period 2,308 (2,308) 2,308 (2,308) Impact from the reclassification 212 (212) 1,282 (1,282) Adjusted Statement of Cash Flows $ (1,660) $ (366) $ (2,070) $ (735)

ACCOUNTING POLICIES (Tables)

ACCOUNTING POLICIES (Tables)	9 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Schedule of amounts recorded as accounts receivable in the consolidated balance sheets	Three months ended Nine months ended March 31, 2016 March 31, 2016 Accounts Finance Accounts Finance Receivable Receivables Receivable Receivables Per Original Statement of Cash Flows $ (1,872) $ (154) $ (3,352) $ 547 Reclass of Unfunded Leases, beginning of period (starting BS) (2,096) 2,096 (1,026) 1,026 Reclass of Finance Receivables, end of period 2,308 (2,308) 2,308 (2,308) Impact from the reclassification 212 (212) 1,282 (1,282) Adjusted Statement of Cash Flows $ (1,660) $ (366) $ (2,070) $ (735)

FINANCE RECEIVABLES (Tables)

FINANCE RECEIVABLES (Tables)	9 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Schedule of finance receivables	March 31, June 30, ($ in thousands) 2017 2016 (unaudited) Total finance receivables $ 9,605 $ 7,306 Less current portion 2,057 3,588 Non-current portion of finance receivables $ 7,548 $ 3,718
Schedule of credit quality indicators	Credit Quality Indicators Credit risk profile based on payment activity: March 31, June 30, ($ in thousands) 2017 2016 (unaudited) Performing $ 9,527 $ 7,174 Nonperforming 78 132 Total $ 9,605 $ 7,306
Schedule of age analysis of past due finance receivables	Age Analysis of Past Due Finance Receivables As of March 31, 2017 31 – 60 61 – 90 Greater than Total Days Past Days Past 90 Days Past Total Past Finance ($ in thousands) Due Due Due Due Current Receivables QuickStart Leases $ 31 $ 1 $ 21 $ 53 $ 9,552 $ 9,605 Age Analysis of Past Due Finance Receivables As of June 30, 2016 31 – 60 61 – 90 Greater than Total Days Past Days Past 90 Days Past Total Past Finance ($ in thousands) Due Due Due Due Current Receivables QuickStart Leases $ 98 $ 31 $ 3 $ 132 $ 7,174 $ 7,306

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of final purchase price allocation	Consideration: Fair value of total consideration paid in cash $ 5,625 Acquisition related costs: $ 842 Recognized amounts of identifiable assets acquired and liabilities assumed: Financial Assets: Accounts Receivable 3 Finance Receivables 839 Other Current Assets 20 Deferred Income Taxes 18 880 Property, Plant & Equipment 81 Identifiable Intangible Assets: Developed Technology 639 Customer Relationships 149 Brand 95 Noncompete Agreement 2 Fair Value of Intangible Assets 885 Financial Liabilities Accrued Liabilities $ (50) Total identifiable net assets $ 1,796 Goodwill $ 3,829 Total Fair Value $ 5,625
Schedule of intangible asset balances	Balance Additions/ Balance Amortization ($ in thousands) June 30, 2016 Adjustments Amortization March 31, 2017 Period Intangible Assets: Non-compete agreements $ 1 $ — $ (1) $ — 2 years Brand 79 — (24) 55 3 years Developed technology 576 — (96) 480 5 years Customer relationships 142 — (11) 131 10 years Total Intangible Assets $ 798 $ — $ (132) $ 666 Goodwill $ 11,703 $ (211) $ — $ 11,492 Indefinite

FAIR VALUE OF FINANCIAL INSTR21

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of changes in fair value of the company's level 3 financial instruments	Three months ended Nine months ended March 31, March 31, ($ in thousands) 2017 2016 2017 2016 Beginning balance $ — $ (1,865) $ (3,739) $ (978) Increase due to change in fair value of warrant liabilities — (4,805) (1,490) (5,692) Reclass of fair value of warranty liability to common stock upon exercise of warrants — 706 5,229 706 Ending balance $ — $ (5,964) $ — $ (5,964)

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Schedule of warrant activity	Three months ended Nine months ended March 31, March 31, 2017 2016 2017 2016 Beginning balance 23,978 4,298,000 2,445,653 4,309,000 Issued — 23,978 — 23,978 Exercised — (634,100) (2,401,408) (645,100) Expired — — — — Cancelled — — (20,267) — Ending balance 23,978 3,687,878 23,978 3,687,878
Schedule of stock option granted weighted average assumptions	Nine months ended March 31, 2017 2016 Expected volatility 49 - 50 % 59 - 66 % Expected life 3 - 4 years 4 - 4.5 years Expected dividends — % — % Risk-free interest rate 1.06 - 1.90 % 1.34 - 1.49 % Number of options granted 125,080 194,586 Weighted average exercise price $ 4.17 $ 3.21 Weighted average grant date fair value $ 1.68 $ 1.64
Schedule of stock based compensation related to the LTI plans	Three months ended Nine months ended March 31, March 31, ($ in thousands, except per share data) 2017 2016 2017 2016 FY17 LTI Plan $ $ — $ $ — FY16 LTI Plan 23 24 FY15 LTI Plan 3 8 FY14 LTI Plan — 2 — Total $ 107 $ 34 $ $ 192

ACCOUNTING POLICIES (Details)

ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Accounting Policies [Line Items]
Accounts receivable	$ (41)	$ (1,660)	$ (2,388)	$ (2,070)
Finance receivables	$ (4,232)	(366)	$ (2,113)	(735)
As Reported
Accounting Policies [Line Items]
Reclassification of cash provided by and included in accounts receivable		(1,872)		(3,352)
Reclassification of cash provided by and included in financial receivable		(154)		547
Reclass of Unfunded Leases, beginning of period (starting BS)		(2,096)		(1,026)
Reclass of Unfunded Leases, beginning of period (starting BS)		2,096		1,026
Reclassification
Accounting Policies [Line Items]
Reclassification of cash provided by and included in accounts receivable		212		1,282
Reclassification of cash provided by and included in financial receivable		(212)		(1,282)
Reclass of Finance Receivables, end of period		2,308		2,308
Reclass of Finance Receivables, end of period		$ (2,308)		$ (2,308)

ACCOUNTING POLICIES (Textuals)

ACCOUNTING POLICIES (Textuals) (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accounting Policies [Abstract]
Depreciation method for property and plant	straight-line basis
Term of notes receivable or quick start leases	60 months
Interest or penalties related to uncertain tax positions	$ 0	$ 0
Amortization of capitalized software development	3 years
Description rental JumpStart program for ePort devices	The Company offers extended payment terms to certain customers for equipment sales under its Quick Start Program
Term of non cancelable lease with agreement	5 years

FINANCE RECEIVABLES - Informati

FINANCE RECEIVABLES - Information regarding finance receivables (Details) $ in Thousands	Mar. 31, 2017USD ($)	Jun. 30, 2016USD ($)item
Receivables [Abstract]
Total finance receivables	$ 9,605	$ 7,306
Less current portion	2,057	3,588
Non-current portion of finance receivables	7,548	3,718
Finance receivables, less allowance for credit losses	$ 25	$ 0
Finance receivables, unrealized loss position | item		0

FINANCE RECEIVABLES - Credit ri

FINANCE RECEIVABLES - Credit risk profile based on payment activity (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Financing Receivable, Recorded Investment [Line Items]
Total finance receivables	$ 9,605	$ 7,306
Performing
Financing Receivable, Recorded Investment [Line Items]
Total finance receivables	9,527	7,174
Nonperforming
Financing Receivable, Recorded Investment [Line Items]
Total finance receivables	$ 78	$ 132

FINANCE RECEIVABLES - Age analy

FINANCE RECEIVABLES - Age analysis of past due finance receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total finance receivables	$ 9,605	$ 7,306
QuickStart Leases
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	53	132
Current	9,552	7,174
Total finance receivables	9,605	7,306
QuickStart Leases | 31 - 60 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	31	98
QuickStart Leases | 61 - 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1	31
QuickStart Leases | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 21	$ 3

GOODWILL AND INTANGIBLE ASSET28

GOODWILL AND INTANGIBLE ASSETS - Summary of final purchase price allocation (Details) - USD ($) $ in Thousands	Jan. 15, 2016	Mar. 31, 2017	Jan. 15, 2017	Jun. 30, 2016	Jan. 14, 2016
Financial Liabilities
Goodwill		$ 11,492		$ 11,703
VendScreen, Inc
Consideration:
Fair value of total consideration paid in cash	$ 5,625
Acquisition related costs:	842
Financial Assets:
Accounts Receivable	3
Finance Receivables	839
Other Current Assets	20
Deferred Income Taxes	18
Current Assets	880
Property, Plant & Equipment	81
Fair Value of Intangible Assets	885
Financial Liabilities
Accrued Liabilities	(50)
Total identifiable net assets	1,796
Goodwill	3,829		$ 3,800		$ 4,000
Total Fair Value	5,625
Developed Technology | VendScreen, Inc
Financial Assets:
Fair Value of Intangible Assets	639
Customer relationships | VendScreen, Inc
Financial Assets:
Fair Value of Intangible Assets	149
Brand | VendScreen, Inc
Financial Assets:
Fair Value of Intangible Assets	95
Non-compete agreements | VendScreen, Inc
Financial Assets:
Fair Value of Intangible Assets	$ 2

GOODWILL AND INTANGIBLE ASSET29

GOODWILL AND INTANGIBLE ASSETS - Summary of intangible assets (Details) - USD ($) $ in Thousands	Jan. 15, 2016	Dec. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Goodwill [Roll Forward]
Goodwill, Beginning Balance					$ 11,703
Goodwill, Additions / Adjustments					(211)
Goodwill, Ending Balance			$ 11,492		11,492
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total Intangible Assets					798
Amortization			(45)	$ (44)	(132)	$ (44)
Total Intangible Assets			666		666
Non-compete agreements
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total Intangible Assets					1
Amortization					$ (1)
Amortization Period					2 years
Brand
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total Intangible Assets					$ 79
Amortization					(24)
Total Intangible Assets			55		$ 55
Amortization Period					3 years
Developed Technology
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total Intangible Assets					$ 576
Amortization					(96)
Total Intangible Assets			480		$ 480
Amortization Period					5 years
Customer relationships
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total Intangible Assets					$ 142
Amortization					(11)
Total Intangible Assets			$ 131		$ 131
Amortization Period					10 years
VendScreen, Inc
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 4,000
Goodwill, Additions / Adjustments		$ 211
Goodwill, Ending Balance	3,829
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Assets and assumed specified liabilities, cash payment	$ 5,625

GOODWILL AND INTANGIBLE ASSET30

GOODWILL AND INTANGIBLE ASSETS (Textuals) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of acquired intangible assets	$ 45	$ 44	$ 132	$ 44

LINE OF CREDIT (Textuals) (Deta

LINE OF CREDIT (Textuals) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Line of Credit Facility [Line Items]
Deferred financing costs		$ 90		$ 90
Line of credit, net		7,021		7,021		$ 7,119
Line of credit facility amount available under line of credit		5,000		5,000
Interest expense		188	$ 180	601	$ 403
Prime Rate [Member]
Line of Credit Facility [Line Items]
Interest rate	3.75%
Heritage Bank of Commerce
Line of Credit Facility [Line Items]
Line of credit, gross		7,000		7,000		7,100
Debt issuance costs		90		90		90
Line of credit, net		7,000		7,000
Revolving line of credit facility | Heritage Bank of Commerce | Loan and Security Agreement
Line of Credit Facility [Line Items]
Maximum limit of amount under line of credit						$ 12,000
Line of credit facility, basis of measurement						Federal Reserves' Prime
Percentage of interest rate above prime rate						2.25%
Interest expense		$ 100		$ 300

LONG-TERM DEBT (Textuals) (Deta

LONG-TERM DEBT (Textuals) (Details) $ in Thousands	Mar. 31, 2017USD ($)
Debt Instrument [Line Items]
Capital lease due in 12 monthly installment	$ 1
Capital lease due in 8 quarterly installment	21
Capital Lease Obligations
Debt Instrument [Line Items]
Capital lease obligations	$ 380

FAIR VALUE OF FINANCIAL INSTR33

FAIR VALUE OF FINANCIAL INSTRUMENTS - Changes in fair value of the Company level 3 financial instruments (unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ (1,865)	$ (3,739)	$ (978)
Increase due to change in fair value of warrant liabilities	(4,805)	(1,490)	(5,692)
Reclass of fair value of warranty liability to common stock upon exercise of warrants	706	$ 5,229	706
Ending balance	$ (5,964)		$ (5,964)

FAIR VALUE OF FINANCIAL INSTR34

FAIR VALUE OF FINANCIAL INSTRUMENTS (Textuals) (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Jun. 30, 2016	Mar. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value transfers assets, Level 1 to Level 2	$ 0		$ 0
Fair value transfers assets, Level 2 to Level 1	0
Fair Value transfers liabilities, Level 1 to Level 2	0		0
Fair Value transfers liabilities, Level 2 to Level 1	0		$ 0
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
The held of financial instruments	0	$ 0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
The held of financial instruments	$ 0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Valuation method used to determine fair value	proprietary valuation models
Fair values of Level 3 financial instrument		$ 2,200

INCOME TAXES (Textuals) (Detail

INCOME TAXES (Textuals) (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 209,000	$ (93,000)	$ 94,000	$ 88,000
Estimated annual effective income tax rate			31.00%		33.00%
Maximum income tax (benefits) considered before additional income before taxes			$ 23

EQUITY (Details)

EQUITY (Details) - Warrants - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Class Of Warrant Or Right [Roll Forward]
Beginning balance	23,978	4,298,000	2,445,653	4,309,000
Issued		23,978		23,978
Exercised	0	(634,100)	(2,401,408)	(645,100)
Cancelled			(20,267)
Ending balance	23,978	3,687,878	23,978	3,687,878

EQUITY (Details 1)

EQUITY (Details 1) - Stock options - $ / shares	1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2016	Mar. 31, 2017	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted	20,080	105,000	125,080	194,586
Weighted average exercise price		$ 4.17	$ 4.17	$ 3.21
Weighted average grant date fair value		$ 1.68	$ 1.68	$ 1.64
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility			49.00%	59.00%
Expected life			3 years	4 years
Risk-free interest rate			1.06%	1.34%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility			50.00%	66.00%
Expected life			4 years	4 years 6 months
Risk-free interest rate			1.90%	1.49%

EQUITY (Details 2)

EQUITY (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	$ 107	$ 34	$ 315	$ 192
FY17 LTI Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	81		236
FY16 LTI Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	23	24	73	134
FY15 LTI Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	3	8	6	48
FY14 LTI Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation		$ 2		$ 10

EQUITY (Detail Textuals)

EQUITY (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Class Of Warrant Or Right [Line Items]
Proceed from exercise of common stock warrants	$ 1,652	$ 6,193	$ 1,681
Warrants
Class Of Warrant Or Right [Line Items]
Number of warrants issued subject to cashless exercise		24,733
Number of warrants exercised		2,376,675
Exercise price per share		$ 2.6058
Cashless exercise price per share		$ 2.10
Proceed from exercise of common stock warrants		$ 6,200

EQUITY (Detail Textual 1)

EQUITY (Detail Textual 1) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2016$ / sharesshares	Mar. 31, 2017USD ($)employee$ / sharesshares	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)$ / sharesshares	Mar. 31, 2016USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation | $		$ 107	$ 34	$ 315	$ 192
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option valuation method				Black-Scholes valuation model
Granted	20,080	105,000		125,080	194,586
Exercise price of awarded options | $ / shares	$ 4.98
Description of stock options vesting rights				The options vest on August 31, 2017, and expire if not exercised prior to August 31, 2023
Stock based compensation | $		$ 61	$ 67	$ 155	$ 274
Number of employees to whom option are granted | employee		3
Number of shares expires on March 31, 2024		95,000
Number of shares expires on February 6, 2024		10,000
Stock options | Exercise price of 4.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares exercisable		75,000		75,000
Exercise price per share | $ / shares		$ 4		$ 4
Stock options | Exercise price of 4.05
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares exercisable		30,000		30,000
Exercise price per share | $ / shares		$ 4.05		$ 4.05

EQUITY (Detail Textual 2)

EQUITY (Detail Textual 2) - USD ($) $ in Thousands	Jul. 01, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Common Stock | Non Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	56,784
Share granted, amount	$ 40
Total expense recognized		$ 37		$ 110
Common Stock | Non Employee Director | Long Term Stock Incentive Plan (LTT)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted				78,711
Common Stock | Non Employee Director | 07/01/2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested	18,960
Common Stock | Non Employee Director | 07/01/2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested	18,960
Common Stock | Non Employee Director | 07/01/2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested	18,954
Common Stock | Chief Executive Officer And Chief Services Officer [Member] | Long Term Stock Incentive Plan (LTT)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted				13,771
Common Stock | Chief Executive Officer ("CEO") | Long Term Stock Incentive Plan (LTT)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares forfeited				6,533
Common Stock | Chief Executive Officer ("CEO") | Payroll Obligation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares forfeited				31
Warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercised of outstanding warrants		0	634,100	2,401,408	645,100

EQUITY (Detail Textual 3)

EQUITY (Detail Textual 3) - Long Term Stock Incentive Plan (LTT)	9 Months Ended
	Mar. 31, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage total number of connections	50.00%
Percentage adjusted EBITDA earned	50.00%
Chief Executive Officer ("CEO")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares awarded on target achievement	150.00%
Officers compensation	$ 675,000
Chief Services Officer ("CSO")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares awarded on target achievement	100.00%
Officers compensation	$ 250,000
Chief Financial Officer ("CFO")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares awarded on target achievement	75.00%
Officers compensation	$ 103,125
Maximum | Chief Executive Officer ("CEO")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares awarded on target achievement	225.00%
Officers compensation	$ 1,012,500
Maximum | Chief Services Officer ("CSO")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares awarded on target achievement	150.00%
Officers compensation	$ 375,000
Maximum | Chief Financial Officer ("CFO")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares awarded on target achievement	112.50%
Officers compensation	$ 154,688

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Textuals) (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2017USD ($)ft²
Commitments and Contingencies Disclosure [Abstract]
Area of new premises (in square feet) | ft²	5,362
Rent expense under operating leases	$ 11
Straight-lined rent expense	$ 11