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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Dec. 31, 2016	Jan. 30, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	SHARPS COMPLIANCE CORP
Entity Central Index Key	0000898770
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		15,986,857
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2016

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 7,234	$ 12,435
Accounts receivable, net of allowance for doubtful accounts of $72 and $63, respectively	5,766	5,814
Inventory, net	4,382	3,919
Prepaid and other current assets	727	695
TOTAL CURRENT ASSETS	18,109	22,863
PROPERTY, PLANT AND EQUIPMENT, net	6,878	5,032
OTHER ASSETS	118	84
GOODWILL	6,724	1,039
INTANGIBLE ASSETS, net of accumulated amortization of $803 and $502, respectively	4,264	1,129
TOTAL ASSETS	36,093	30,147
CURRENT LIABILITIES
Accounts payable	3,130	1,620
Accrued liabilities	1,936	1,534
Current maturities of long-term debt	684	0
Deferred revenue	2,356	2,477
TOTAL CURRENT LIABILITIES	8,106	5,631
LONG-TERM DEFERRED REVENUE, net of current portion	534	483
OTHER LONG-TERM LIABILITIES	171	190
LONG-TERM DEBT, net of current portion	2,212	0
TOTAL LIABILITIES	11,023	6,304
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock, $0.01 par value per share; 20,000,000 shares authorized; 16,282,472 and 15,740,458 shares issued, respectively and 15,986,857 and 15,444,843 shares outstanding, respectively	163	158
Treasury stock, at cost, 295,615 shares repurchased	(1,554)	(1,554)
Additional paid-in capital	27,747	25,331
Accumulated deficit	(1,286)	(92)
TOTAL STOCKHOLDERS' EQUITY	25,070	23,843
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 36,093	$ 30,147

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
CURRENT ASSETS
Accounts receivable, allowance for doubtful accounts	$ 72	$ 63
INTANGIBLE ASSETS, accumulated amortization	$ 803	$ 502
STOCKHOLDERS' EQUITY
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	16,282,472	15,740,458
Common stock, shares outstanding (in shares)	15,986,857	15,444,843
Treasury stock, shares repurchased (in shares)	295,615	295,615

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
REVENUES	$ 9,707	$ 9,992	$ 19,238	$ 17,861
Cost of revenues	6,812	6,673	13,384	11,663
GROSS PROFIT	2,895	3,319	5,854	6,198
Selling, general and administrative	2,899	2,585	6,598	5,181
Depreciation and amortization	200	70	400	122
OPERATING INCOME (LOSS)	(204)	664	(1,144)	895
OTHER INCOME (EXPENSE)
Interest income	4	9	8	18
Interest expense	(27)	0	(58)	0
TOTAL OTHER (EXPENSE) INCOME	(23)	9	(50)	18
INCOME (LOSS) BEFORE INCOME TAXES	(227)	673	(1,194)	913
INCOME TAX EXPENSE - Current	0	58	0	78
TOTAL INCOME TAX EXPENSE	0	58	0	78
NET INCOME (LOSS)	$ (227)	$ 615	$ (1,194)	$ 835
NET INCOME (LOSS) PER COMMON SHARE
Basic (in dollars per share)	$ (0.01)	$ 0.04	$ (0.08)	$ 0.05
Diluted (in dollars per share)	$ (0.01)	$ 0.04	$ (0.08)	$ 0.05
WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME (LOSS) PER COMMON SHARE:
Basic (in shares)	15,929	15,467	15,898	15,443
Diluted (in shares)	15,929	16,062	15,898	15,994

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balances at Jun. 30, 2015	$ 156	$ (809)	$ 24,344	$ (105)	$ 23,586
Balances (in shares) at Jun. 30, 2015	15,575,041	(191,250)
Exercise of stock options	$ 1	$ 0	312	0	313
Exercise of stock options (in shares)	112,425	0
Stock-based compensation	$ 0	$ 0	676	0	676
Issuance of restricted stock	$ 1	0	(1)	0	0
Issuance of restricted stock (in shares)	52,992
Shares repurchased	$ 0	$ (745)	0	0	(745)
Shares repurchased (in shares)		(104,365)
Net income (loss)	0	$ 0	0	13	13
Balances at Jun. 30, 2016	$ 158	$ (1,554)	25,331	(92)	$ 23,843
Balances (in shares) at Jun. 30, 2016	15,740,458	(295,615)			15,444,843
Exercise of stock options	$ 0	$ 0	259	0	$ 259
Exercise of stock options (in shares)	75,750	0			75,750
Stock-based compensation	$ 0	$ 0	273	0	$ 273
Issuance of restricted stock	$ 1	0	(1)	0	0
Issuance of restricted stock (in shares)	52,992
Issuance of common stock for acquisition	$ 4	$ 0	1,885	0	$ 1,889
Issuance of common stock for acquisition (in shares)	413,272	0
Shares repurchased (in shares)					0
Net income (loss)	$ 0	$ 0	0	(1,194)	$ (1,194)
Balances at Dec. 31, 2016	$ 163	$ (1,554)	$ 27,747	$ (1,286)	$ 25,070
Balances (in shares) at Dec. 31, 2016	16,282,472	(295,615)			15,986,857

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (1,194)	$ 835
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	708	379
Loss on disposal of property, plant and equipment	6	0
Stock-based compensation expense	273	358
Changes in operating assets and liabilities, net of effects of business acquisitions:
Accounts receivable	543	434
Inventory	(359)	(943)
Prepaid and other assets	(66)	121
Accounts payable and accrued liabilities	1,134	(105)
Deferred revenue	(70)	415
NET CASH PROVIDED BY OPERATING ACTIVITIES	975	1,494
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	(1,978)	(761)
Cash proceeds from sale of property, plant and equipment	13	0
Additions to intangible assets	(79)	0
Payments for business acquisitions, net of cash acquired	(7,100)	(1,204)
NET CASH USED IN INVESTING ACTIVITIES	(9,144)	(1,965)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of stock options	259	313
Shares repurchased	0	(540)
Proceeds from long-term debt	3,000	0
Repayments of long-term debt	(291)	0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	2,968	(227)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(5,201)	(698)
CASH AND CASH EQUIVALENTS, beginning of period	12,435	15,157
CASH AND CASH EQUIVALENTS, end of period	7,234	14,459
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Income taxes paid	0	85
Interest paid on long-term debt	49	0
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common stock for acquisition	1,889	0
Unpaid consideration related to acquisitions	105	529
Transfer of equipment to inventory	104	106
Property, plant and equipment financed through accounts payable	$ 368	$ 0

ORGANIZATION AND BACKGROUND	6 Months Ended
ORGANIZATION AND BACKGROUND	Dec. 31, 2016
ORGANIZATION AND BACKGROUND [Abstract]
ORGANIZATION AND BACKGROUND	NOTE 1 - ORGANIZATION AND BACKGROUND Organization: The accompanying unaudited condensed consolidated financial statements include the financial transactions and accounts of Sharps Compliance Corp. and its wholly owned subsidiaries, Sharps Compliance, Inc. of Texas (dba Sharps Compliance, Inc.), Sharps e-Tools.com Inc. (“Sharps e-Tools”), Sharps Manufacturing, Inc., Sharps Environmental Services, Inc. (dba Sharps Environmental Services of Texas, Inc.), Sharps Safety, Inc., Alpha Bio/Med Services LLC, Bio-Team Mobile LLC and Citiwaste, LLC (collectively, “Sharps” or the “Company”). All significant intercompany accounts and transactions have been eliminated upon consolidation. Business: Sharps is a leading full-service national provider of comprehensive waste management services including medical, pharmaceutical and hazardous for small and medium quantity generators. The Company’s solutions include Sharps Recovery System™ (formerly Sharps Disposal by Mail System^®), TakeAway Medication Recovery System™, MedSafe^®, TakeAway Recycle System™,ComplianceTRAC^SM, SharpsTracer^®, Sharps Secure^®Needle Disposal System, Complete Needle™ Collection & Disposal System, TakeAway Environmental Return System™, Pitch-It IV™ Poles, Asset Return System and Spill Kit and Recovery System. The Company also offers its route-based pick-up service in an eleven (11) state region of the Northeast portion of the United States as well as in Texas and Louisiana.

BASIS OF PRESENTATION	6 Months Ended
BASIS OF PRESENTATION	Dec. 31, 2016
BASIS OF PRESENTATION [Abstract]
BASIS OF PRESENTATION	NOTE 2 - BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and with instructions to Form 10-Q and, accordingly, do not include all information and footnotes required under accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, these interim condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the consolidated financial position of the Company as of December 31, 2016, the results of its operations for the three and six months ended December 31, 2016 and 2015, cash flows for the six months ended December 31, 2016 and 2015 and stockholders’ equity for the six months ended December 31, 2016 and the year ended June 30, 2016. The results of operations for the three and six months ended December 31, 2016 are not necessarily indicative of the results to be expected for the entire fiscal year ending June 30, 2017. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended June 30, 2016.

SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Dec. 31, 2016

SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES

Revenue Recognition: The Company recognizes revenue when services are provided and from product sales when (i) goods are shipped or delivered, and title and risk of loss pass to the customer, (ii) the price is substantially fixed or determinable and (iii) collectability is reasonably assured except for those sales via multiple-deliverable revenue arrangements. Provisions for certain rebates, product returns and discounts to customers are accounted for as reductions in sales in the same period the related sales are recorded. Product discounts granted are based on the terms of arrangements with direct, indirect and other market participants, as well as market conditions, including prices charged by competitors. Rebates are estimated based on contractual terms, historical experience, trend analysis and projected market conditions in the various markets served. Service agreements which include a vendor managed inventory program include terms that meet the “bill and hold” criteria and as such are recognized when the order is completed, at which point title has transferred, there are no acceptance provisions and amounts are segregated in the Company’s warehouse. During the three and six months ended December 31, 2016, the Company recorded revenue from inventory builds that are held in vendor managed inventory under these service agreements of $0.8 million and $1.8 million, respectively. During the three and six months ended December 31, 2015, the Company recorded revenue from inventory builds that are held in vendor managed inventory under these service agreements of $1.9 million and $2.5 million, respectively. As of December 31, 2016 and June 30, 2016, $2.2 million and $2.1 million, respectively, of solutions sold through that date were held in vendor managed inventory pending fulfillment or shipment to patients of pharmaceutical manufacturers who offer these solutions to patients in an ongoing patient support program.

Certain products offered by the Company have revenue producing components that are recognized over multiple delivery points (Sharps Recovery System and various other solutions like the TakeAway Medication Recovery Systems referred to as “Mailbacks” and Sharps Pump and Asset Return Systems, referred to as “Pump Returns”) and can consist of up to three separate elements, or units of measure, as follows: (1) the sale of the compliance and container system, (2) return transportation and (3) treatment service.

In accordance with the relative selling price methodology, an estimated selling price is determined for all deliverables that qualify for separate units of accounting. The actual consideration received in a multiple-deliverable arrangement is then allocated to the units based on their relative sales price. The selling price for the transportation revenue and the treatment revenue utilizes third party evidence. The Company estimates the selling price of the compliance and container system based on the product and services provided, including compliance with local, state and federal laws, adherence to stringent manufacturing and testing requirements, safety to the patient and the community as well as storage and containment capabilities.

Revenue for the sale of the compliance and container is recognized upon delivery to the customer, at which time the customer takes title and assumes risk of ownership. Transportation revenue is recognized when the customer returns the compliance and container system and the container has been received at the Company’s owned or contracted facilities. The compliance and container system is mailed or delivered by an alternative logistics provider to the Company’s owned or contracted facilities. Treatment revenue is recognized upon the destruction or conversion and proof of receipt and treatment having been performed on the container. Since the transportation element and the treatment elements are undelivered services at the point of initial sale of the compliance and container, transportation and treatment revenue is deferred until the services are performed. The current and long-term portions of deferred revenues are determined through regression analysis and historical trends. Furthermore, through regression analysis of historical data, the Company has determined that a certain percentage of all compliance and container systems sold may not be returned. Accordingly, a portion of the transportation and treatment elements are recognized at the point of sale.

Business Combinations: The Company includes the results of operations of the businesses that are acquired as of the respective dates of acquisition. The Company allocates the fair value of the purchase price of acquisitions to the assets acquired and liabilities assumed based on their estimated fair values. The excess of the fair value of the purchase price over the fair values of these identifiable assets and liabilities is recorded as goodwill.

Income Taxes: Deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The establishment of a valuation allowance requires significant judgment and is impacted by various estimates. Both positive and negative evidence, as well as the objectivity and verifiability of that evidence, is considered in determining the appropriateness of recording a valuation allowance on deferred tax assets. Under generally accepted accounting principles, the valuation allowance has been recorded to reduce the Company’s deferred tax assets to an amount that is more likely than not to be realized and is based upon the uncertainty of the realization of certain federal and state deferred tax assets related to net operating loss carryforwards and other tax attributes.

Accounts Receivable: Accounts receivable consist primarily of amounts due to the Company from normal business activities. Accounts receivable balances are determined to be delinquent when the amount is past due based on the contractual terms with the customer. The Company maintains an allowance for doubtful accounts to reflect the likelihood of not collecting certain accounts receivable based on past collection history and specific risks identified among uncollected accounts. Accounts receivable are charged to the allowance for doubtful accounts when the Company determines that the receivable will not be collected and/or when the account has been referred to a third party collection agency. The Company has a history of minimal uncollectible accounts.

Stock-Based Compensation: Stock-based compensation cost for options and restricted stock awarded to employees and directors is measured at the grant date, based on the calculated fair value of the award and is recognized as an expense over the requisite service period (generally the vesting period of the equity grant).

Fair Value of Financial Instruments: The Company considers the fair value of all financial instruments, including cash and cash equivalents, accounts receivable and accounts payable to approximate their carrying values at December 31, 2016 and June 30, 2016 due to their short-term nature. The carrying value of the Company’s debt approximates fair value due to the market rates of interest.

Fair Value Measurements: The Company employs a hierarchy which prioritizes the inputs used to measure recurring fair value into three distinct categories based on the lowest level of input that is significant to the fair value measurement. Our methodology for categorizing assets and liabilities that are measured at fair value pursuant to this hierarchy gives the highest priority to unadjusted quoted prices in active markets and the lowest levels to unobservable inputs, summarized as follows:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Other significant observable inputs (including quoted prices in active markets for similar assets or liabilities).

Level 3 – Significant unobservable inputs (including our own assumptions in determining fair value).

We use the cost, income or market valuation approaches to estimate the fair value of our assets and liabilities when insufficient market-observable data is available to support our valuation assumptions. The purchase price allocations relating to the acquisitions completed during the six months ended December 31, 2016 and year ended June 30, 2016 utilized level 3 inputs.

RECENTLY ISSUED ACCOUNTING STANDARDS	6 Months Ended
RECENTLY ISSUED ACCOUNTING STANDARDS	Dec. 31, 2016
RECENTLY ISSUED ACCOUNTING STANDARDS [Abstract]
RECENTLY ISSUED ACCOUNTING STANDARDS	NOTE 4 – RECENTLY ISSUED ACCOUNTING STANDARDS In May 2014, guidance for revenue recognition was issued which supersedes the revenue recognition requirements currently followed by the Company. The new guidance provides for a single five-step model to be applied in determining the amount and timing of the recognition of revenue related to contracts with customers. The new standard also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. The guidance is effective for annual reporting periods beginning after December 15, 2017 (effective July 1, 2018 for the Company.) The Company is evaluating the impact that the new accounting guidance will have on its consolidated financial statements and related disclosures and has not yet determined the method by which it will adopt the standard. In July 2015, guidance for inventory measurement was issued, which supersedes the policy currently followed by the Company. The new guidance requires the Company to measure inventory at the lower of cost and net realizable value. The provisions of the new guidance are effective for annual reporting periods beginning after December 15, 2016 (effective July 1, 2017 for the Company) including interim periods within that reporting period. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In February 2016, guidance for leases was issued, which requires balance sheet recognition for rights and obligations of all leases with terms in excess of twelve months. The new guidance also requires additional disclosures about the amount, timing and uncertainty of cash flows arising from leases. The provisions of the new guidance are effective for annual periods beginning after December 15, 2018 (effective July 1, 2019 for the Company), including interim periods within the reporting period, and early application is permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In March 2016, new guidance for stock-based compensation was issued, which simplifies the accounting for stock-based compensation related to income taxes and balance sheet and cash flow classifications. In addition, an entity can make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The provisions of the new guidance are effective for annual reporting periods beginning after December 15, 2016 (effective July 1, 2017 for the Company) including interim periods within the reporting period. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.

INCOME TAXES	6 Months Ended
INCOME TAXES	Dec. 31, 2016
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 5 - INCOME TAXES The establishment of valuation allowances requires significant judgment and is impacted by various estimates. Both positive and negative evidence, as well as the objectivity and verifiability of that evidence, is considered in determining the appropriateness of recording a valuation allowance on deferred tax assets. Under generally accepted accounting principles, the valuation allowance has been recorded to reduce the Company’s net deferred tax asset to an amount that is more likely than not to be realized and is based upon the uncertainty of the realization of certain federal and state deferred tax assets related to net operating loss carryforwards and other tax attributes. The Company’s net deferred tax assets have been fully reserved by a tax valuation allowance. No state tax expense was recorded for the six months ended December 31, 2016 as it was not material due to the valuation allowance and net operating losses. The Company’s effective tax rate for the six months ended December 31, 2015 was 8.5% reflecting estimated state income taxes. The Company’s tax benefit associated with taxable losses during the six months ended December 31, 2016 was offset by a deferred tax valuation allowance. The Company’s tax expense associated with taxable income during the six months ended December 31, 2015 was offset by the utilization of net operating loss carryforwards.

NOTES PAYABLE AND LONG-TERM DEBT

6 Months Ended

Dec. 31, 2016

NOTES PAYABLE AND LONG-TERM DEBT [Abstract]

NOTES PAYABLE AND LONG-TERM DEBT

NOTE 6 - NOTES PAYABLE AND LONG-TERM DEBT

The Company’s credit agreement, which was effective on April 9, 2015 with a commercial bank and subsequently amended on June 20, 2016 and November 2, 2016 (“Credit Agreement”), provides for a $9.0 million line of credit facility, the proceeds of which may be utilized as follows: (i) $4.0 million for working capital, letters of credit (up to $1.0 million) and general corporate purposes and (ii) $5.0 million for acquisitions. Indebtedness under the Credit Agreement is secured by the Company’s accounts receivable and inventory with advances outstanding under the working capital portion of the credit facility at any time limited to a Borrowing Base (as defined in the Credit Agreement) equal to 80% of eligible accounts receivable plus 50% of eligible inventory. Advances under the acquisition portion of the credit facility are limited to 75% of the purchase price of an acquired company and convert to a five-year term note. Borrowings bear interest at WSJ Prime (for the working capital line) and WSJ Prime plus 0.25% (for the acquisition line) with a floor of 3.0%. The interest rates as of December 31, 2016 were approximately 3.75% (for the working capital line) and 4.00% (for the acquisition line). Interest rates as of June 30, 2016 were 3.5% (for the working capital line) and 3.75% (for the acquisition line). The Company pays a fee of 0.25% per annum on the unused amount of the line of credit.

At December 31, 2016, long-term debt consisted of the following (in thousands):

Non-interest bearing, unsecured note payable assumed in acquisition (See Note 13), monthly payments of $7; maturing September 2018.	$	146

Term loan, bearing interest at 4.00%, monthly payments of $50; maturing July 2021.		2,750

Total long-term debt		2,896
Less: current portion		684
Long-term debt, net of current portion	$	2,212

As of December 31, 2016, the Company also had $0.3 million in letters of credit. The Company’s availability under its credit facilities is currently approximately $5.9 million ($3.7 million for the working capital and $2.2 million for the acquisitions).

The Credit Agreement contains affirmative and negative covenants that, among other things, require the Company to maintain a minimum level of tangible net worth of $7.0 million, minimum liquidity of $6.0 million and a minimum debt service coverage ratio of not less than 1.35 to 1.00. The Credit Agreement, which expires on April 9, 2018, also contains customary events of default which, if uncured, may terminate the Credit Agreement and require immediate repayment of all indebtedness to the lenders. At December 31, 2016, the Company was in compliance with all the financial covenants under the Credit Agreement except the minimum debt service coverage ratio. A waiver was granted by the lender to the Company to cover the three months ended December 31, 2016. With an amendment executed in November 2016, which revised the calculation of the debt service coverage ratio, the Company expects to be in compliance with all amended covenants through at least December 31, 2017.

Payments due on long-term debt during each of the five years subsequent to December 31, 2016 are as follows (in thousands, unaudited):

Twelve Months Ending December 31,
2017	$	684
2018		662
2019		600
2020		600
2021		350
	$	2,896

STOCK-BASED COMPENSATION

6 Months Ended

Dec. 31, 2016

STOCK BASED COMPENSATION [Abstract]

STOCK BASED COMPENSATION

NOTE 7 – STOCK-BASED COMPENSATION

Stock-based compensation cost for options and restricted stock awarded to employees and directors is measured at the grant date, based on the calculated fair value of the award and is recognized as an expense over the requisite service period (generally the vesting period of the equity grant). During the three and six months ended December 31, 2016 and 2015, stock-based compensation amounts are as follows (in thousands):

	Three-Months Ended December 31,				Six-Months Ended December 31,
	2016		2015		2016		2015
	(Unaudited)				(Unaudited)

Stock-based compensation expense included in:

Cost of revenues	$	13	$	10	$	25	$	18
Selling, general and administrative		121		207		248		340
Total	$	134	$	217	$	273	$	358

- 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 + Details

EARNINGS PER SHARE

6 Months Ended

Dec. 31, 2016

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 8 - EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) by the weighted average number of common shares after considering the additional dilution related to common stock options and restricted stock. In computing diluted earnings per share, the outstanding common stock options are considered dilutive using the treasury stock method.

The Company’s restricted stock awards and escrow shares that were issued in connection with the Citiwaste acquisition are treated as outstanding for earnings per share calculations since these shares have full voting rights and are entitled to participate in dividends declared on common shares, if any, and undistributed earnings. As participating securities, the shares of restricted stock are included in the calculation of basic EPS using the two-class method. For the periods presented, the amount of earnings allocated to the participating securities was not material.

The following information is necessary to calculate earnings per share for the periods presented (in thousands, except per-share data):

	Three-Months Ended December 31,					Six-Months Ended December 31,
	2016			2015		2016			2015
	(Unaudited)					(Unaudited)

Net income (loss), as reported	$	(227	)	$	615	$	(1,194	)	$	835

Weighted average common shares outstanding		15,929			15,467		15,898			15,443
Effect of dilutive stock options		-			595		-			551
Weighted average diluted common shares outstanding		15,929			16,062		15,898			15,994

Net income (loss) per common share
Basic	$	(0.01	)	$	0.04	$	(0.08	)	$	0.05
Diluted	$	(0.01	)	$	0.04	$	(0.08	)	$	0.05

Employee stock options excluded from computation of dilutive income per share amounts because their effect would be anti-dilutive		834			120		305			216

EQUITY TRANSACTIONS

6 Months Ended

Dec. 31, 2016

EQUITY TRANSACTIONS [Abstract]

EQUITY TRANSACTIONS

NOTE 9 - EQUITY TRANSACTIONS

During the three and six months ended December 31, 2016 and 2015, stock options to purchase shares of the Company’s common stock were exercised as follows:

	Three-Months Ended December 31,				Six-Months Ended December 31,
	2016		2015		2016		2015
	(Unaudited)				(Unaudited)

Options Exercised		29,527		11,000		75,750		112,425
Proceeds (in thousands)	$	118	$	45	$	259	$	313
Average exercise price per share	$	3.98	$	3.98	$	3.41	$	2.77

As of December 31, 2016, there was $0.5 million of stock option and restricted stock compensation expense related to non-vested awards which is expected to be recognized over a weighted average period of 1.94 years.

On January 7, 2013, the Company announced that its Board of Directors approved a stock repurchase program effective January 3, 2013, authorizing the Company to repurchase in the aggregate up to $3.0 million of its outstanding common stock over a two-year period. On March 5, 2015, the Board approved a two-year extension on the stock repurchase program through January 1, 2017. During the three and six months ended December 31, 2016 and 2015, shares were repurchased as follows:

	Three-Months Ended December 31,				Six-Months Ended December 31,
	2016		2015		2016		2015
	(Unaudited)				(Unaudited)

Shares repurchased		-		68,022		-		68,022
Cash paid for shares repurchased (in thousands)	$	-	$	540	$	-	$	540
Average price paid per share	$	-	$	7.94	$	-	$	7.94

Total shares repurchased under the program are 295,615 shares at a cost of $1.6 million. As of December 31, 2016, approximately $1.4 million remained of the Company’s $3.0 million repurchase program. The program has not been extended.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 1
-Subparagraph (SX 210.5-02(29))
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2016

GOODWILL AND INTANGIBLE ASSETS [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE 10 – GOODWILL AND INTANGIBLE ASSETS

At December 31, 2016 and June 30, 2016, intangible assets consisted of the following (in thousands, unaudited):

		December 31, 2016							June 30, 2016
	Estimated Useful Lives	Original Amount		Accumulated Amortization			Net Amount		Original Amount		Accumulated Amortization			Net Amount

Customer relationships	7 years	$	3,007	$	(277	)	$	2,730	$	580	$	(60	)	$	520
Permits	6 - 15 years		1,290		(239	)		1,051		668		(191	)		477
Patents	5 - 17 years		383		(257	)		126		383		(251	)		132
Tradename	7 years		270		(19	)		251		-		-			-
Non-compete	5 years		117		(11	)		106		-		-			-
Total intangible assets, net		$	5,067	$	(803	)	$	4,264	$	1,631	$	(502	)	$	1,129

During the six months ended December 31, 2016 and 2015, amortization expense was $0.3 million and $28.0 thousand, respectively.

The changes in the carrying amount of goodwill since June 30, 2016 was as follows (in thousands, unaudited):

Balance at June 30, 2016	$	1,039
Goodwill acquired during the six months ended December 31, 2016		5,685
Balance at December 31, 2016	$	6,724

As of December 31, 2016, future amortization of intangible assets is as follows (in thousands, unaudited):

Twelve Months Ending December 31,
2017	$	606
2018		606
2019		606
2020		606
2021		594
Thereafter		1,246
	$	4,264

Future amortization expense may fluctuate depending on future changes in acquisition related assets or changes to the estimated amortizable life of the intangibles.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

INVENTORY

6 Months Ended

Dec. 31, 2016

INVENTORY [Abstract]

INVENTORY

NOTE 11 – INVENTORY

The components of inventory are as follows (in thousands):

	December 31, 2016		June 30, 2016
	(Unaudited)
Raw materials	$	1,443		1,388
Finished goods		2,939		2,531
Total	$	4,382		3,919

REVENUES BY SOLUTION

6 Months Ended

Dec. 31, 2016

REVENUES BY SOLUTION [Abstract]

REVENUES BY SOLUTION

NOTE 12 – REVENUES BY SOLUTION

The Company has expanded its reporting to include information by solution reflecting recent changes in the Company’s business primarily due to recent acquisitions. The components of revenues by solution are as follows (in thousands, unaudited):

	Three-Months Ended December 31,
	2016		% Total			2015		% Total
REVENUES BY SOLUTION:
Mailbacks	$	6,415		66.1	%	$	7,414		74.2	%
Route-based pickup services		1,580		16.3	%		480		4.8	%
Unused medications		742		7.6	%		1,034		10.3	%
Third party treatment services		74		0.8	%		75		0.8	%
Other⁽¹⁾		896		9.2	%		989		9.9	%
Total revenues	$	9,707		100.0	%	$	9,992		100.0	%

	Six-Months Ended December 31,
	2016		% Total			2015		% Total
REVENUES BY SOLUTION:
Mailbacks	$	12,664		65.9	%	$	12,938		72.4	%
Route-based pickup services		3,045		15.8	%		841		4.7	%
Unused medications		1,533		8.0	%		2,036		11.4	%
Third party treatment services		142		0.7	%		154		0.9	%
Other⁽¹⁾		1,854		9.6	%		1,892		10.6	%
Total revenues	$	19,238		100.0	%	$	17,861		100.0	%

(1)

The Company’s other products include non-mailback products such as IV poles, accessories, containers, asset return boxes and other miscellaneous items.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

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+ Details

ACQUISITIONS

6 Months Ended

Dec. 31, 2016

ACQUISITIONS [Abstract]

ACQUISITIONS

NOTE 13 – ACQUISITIONS

Effective on July 17, 2015, the Company acquired Alpha Bio/Med Services LLC, a route-based pickup service located in Pennsylvania for total cash consideration of $0.7 million of which $0.1 million was withheld for payment of adjusted escrow amounts which settled in July 2016.

The following amounts represent the fair value of the assets acquired and liabilities assumed:

Accounts receivable	$	51
Fixed assets		70
Intangibles		267
Goodwill		413
Accounts payable and accrued liabilities		(101	)
Total purchase price	$	700

Effective on December 14, 2015, the Company acquired Bio-Team Mobile LLC, a route-based pickup service located in Pennsylvania for total cash consideration of $1.0 million of which $0.1 million was withheld for payment of adjusted escrow amounts which settled in January 2017.

The following amounts represent the fair value of the assets acquired and liabilities assumed:

Accounts receivable	$	42
Fixed assets		68
Intangibles		313
Goodwill		626
Accounts payable and accrued liabilities		(16	)
Total purchase price	$	1,033

Effective July 1, 2016, the Company acquired Citiwaste, LLC (“Citiwaste”), a route-based pickup service located in New York, which is in the business of medical, pharmaceutical and hazardous waste management primarily in the healthcare industry. The purchase price consists of $7.0 million in cash ($3.0 million of which was borrowed under the acquisition portion of its Credit Agreement), 413,272 shares of common stock of the Company (the “Common Stock Consideration”) valued at $1.9 million, which constitutes approximately 3.0% of the total outstanding shares of common stock of the Company, and a lease obligation to be paid to the seller for $0.1 million which is presented on the balance sheet in accrued liabilities for a total consideration of $9.0 million. The issuance of the Common Stock Consideration was not registered under the Securities Act of 1933, as amended, and was issued pursuant to an exemption from the registration requirements thereunder. The Company will hold 139,216 shares of the Common Stock Consideration in escrow for a one-year period to cover the indemnification obligations of the Sellers under the Agreement.

For the six months ended December 31, 2016, the Company recognized approximately $1.7 million in revenues related to the acquisition of Citiwaste.

The following amounts represent the fair value of the assets acquired and liabilities assumed:

Cash	$	5
Accounts receivable		495
Fixed assets		30
Intangibles		3,357
Goodwill		5,685
Accounts payable and accrued liabilities		(356	)
Debt assumed		(187	)
Total purchase price	$	9,029

The amounts recorded for certain assets and liabilities are preliminary in nature and are subject to adjustments to working capital. The actual amounts recorded at the completion of the measurement period may differ materially from the information presented in the accompanying unaudited condensed combined financial information.

During the three and six months ended December 31, 2016 and 2015, the Company incurred acquisition related expenses for investment banking, legal and accounting fees which are included within selling, general and administrative expenses in the condensed consolidated statements of operations as follows (in thousands):

	Three-Months Ended December 31,				Six-Months Ended December 31,
	2016		2015		2016		2015
	(Unaudited)				(Unaudited)

Acquisition-related expenses	$	-	$	74	$	702	$	151

The results of operations of the acquired business have been included in the condensed consolidated statements of operations from the date of acquisition. Pro forma results of operations for Alpha Bio/Med Services and Bio-Team Mobile are not presented because the pro forma effects, individually or in the aggregate, were not material to the Company’s consolidated results of operations. The goodwill recorded for the Alpha Bio/Med Services, Bio-Team Mobile, and Citiwaste acquisitions will be deductible for income taxes. The goodwill recognized for the acquisitions since July 1, 2015 is attributable to expected revenue synergies generated by the integration of our products and services with those acquisitions, cost synergies resulting from the consolidation or elimination of certain functions, and intangible assets that do not qualify for separate recognition such as the assembled workforce of each acquisition.

Supplemental Pro Forma Data

Citiwaste’s financial results have been included in our condensed consolidated financial results for the three and six months ended December 31, 2016. The following table presents summarized unaudited pro forma financial information as if Citiwaste had been included in the Company’s results for the three and six months ended December 31, 2015 (in thousands):

	Three-Months Ended December 31,		Six-Months Ended December 31,
	2015		2015
	(Unaudited)
Revenues	$	10,723	$	19,323
Net income	$	572	$	749

The basic and diluted earnings per common share is not affected by the pro forma results above nor the issuance of common stock consideration.

The unaudited supplemental pro forma financial data above has been calculated after applying the Company’s accounting policies and adjusting the historical results of Citiwaste with pro forma adjustments, net of tax, that assume the acquisition occurred on July 1, 2015.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Dec. 31, 2016

SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Revenue Recognition

Business Combinations

Income Taxes

Accounts Receivable

Stock-Based Compensation

Fair Value of Financial Instruments

Fair Value Measurements

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Other significant observable inputs (including quoted prices in active markets for similar assets or liabilities).

Level 3 – Significant unobservable inputs (including our own assumptions in determining fair value).

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

- Definition

Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables.

+ References + Details

RECENTLY ISSUED ACCOUNTING STANDARDS (Policies)	6 Months Ended
RECENTLY ISSUED ACCOUNTING STANDARDS (Policies)	Dec. 31, 2016
RECENTLY ISSUED ACCOUNTING STANDARDS [Abstract]
Recently issued accounting standards	In May 2014, guidance for revenue recognition was issued which supersedes the revenue recognition requirements currently followed by the Company. The new guidance provides for a single five-step model to be applied in determining the amount and timing of the recognition of revenue related to contracts with customers. The new standard also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. The guidance is effective for annual reporting periods beginning after December 15, 2017 (effective July 1, 2018 for the Company.) The Company is evaluating the impact that the new accounting guidance will have on its consolidated financial statements and related disclosures and has not yet determined the method by which it will adopt the standard. In July 2015, guidance for inventory measurement was issued, which supersedes the policy currently followed by the Company. The new guidance requires the Company to measure inventory at the lower of cost and net realizable value. The provisions of the new guidance are effective for annual reporting periods beginning after December 15, 2016 (effective July 1, 2017 for the Company) including interim periods within that reporting period. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In February 2016, guidance for leases was issued, which requires balance sheet recognition for rights and obligations of all leases with terms in excess of twelve months. The new guidance also requires additional disclosures about the amount, timing and uncertainty of cash flows arising from leases. The provisions of the new guidance are effective for annual periods beginning after December 15, 2018 (effective July 1, 2019 for the Company), including interim periods within the reporting period, and early application is permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In March 2016, new guidance for stock-based compensation was issued, which simplifies the accounting for stock-based compensation related to income taxes and balance sheet and cash flow classifications. In addition, an entity can make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The provisions of the new guidance are effective for annual reporting periods beginning after December 15, 2016 (effective July 1, 2017 for the Company) including interim periods within the reporting period. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.

NOTES PAYABLE AND LONG-TERM DEBT (Tables)

6 Months Ended

Dec. 31, 2016

NOTES PAYABLE AND LONG-TERM DEBT [Abstract]

Schedule of long-term debt

At December 31, 2016, long-term debt consisted of the following (in thousands):

Non-interest bearing, unsecured note payable assumed in acquisition (See Note 13), monthly payments of $7; maturing September 2018.	$	146

Term loan, bearing interest at 4.00%, monthly payments of $50; maturing July 2021.		2,750

Total long-term debt		2,896
Less: current portion		684
Long-term debt, net of current portion	$	2,212

Schedule of payments due on long-term debt

Payments due on long-term debt during each of the five years subsequent to December 31, 2016 are as follows (in thousands, unaudited):

Twelve Months Ending December 31,
2017	$	684
2018		662
2019		600
2020		600
2021		350
	$	2,896

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Dec. 31, 2016

STOCK BASED COMPENSATION [Abstract]

Allocated cost of share based compensation

During the three and six months ended December 31, 2016 and 2015, stock-based compensation amounts are as follows (in thousands):

	Three-Months Ended December 31,				Six-Months Ended December 31,
	2016		2015		2016		2015
	(Unaudited)				(Unaudited)

Stock-based compensation expense included in:

Cost of revenues	$	13	$	10	$	25	$	18
Selling, general and administrative		121		207		248		340
Total	$	134	$	217	$	273	$	358

EARNINGS PER SHARE (Tables)

6 Months Ended

Dec. 31, 2016

EARNINGS PER SHARE [Abstract]

Earnings per share

The following information is necessary to calculate earnings per share for the periods presented (in thousands, except per-share data):

	Three-Months Ended December 31,					Six-Months Ended December 31,
	2016			2015		2016			2015
	(Unaudited)					(Unaudited)

Net income (loss), as reported	$	(227	)	$	615	$	(1,194	)	$	835

Weighted average common shares outstanding		15,929			15,467		15,898			15,443
Effect of dilutive stock options		-			595		-			551
Weighted average diluted common shares outstanding		15,929			16,062		15,898			15,994

Net income (loss) per common share
Basic	$	(0.01	)	$	0.04	$	(0.08	)	$	0.05
Diluted	$	(0.01	)	$	0.04	$	(0.08	)	$	0.05

Employee stock options excluded from computation of dilutive income per share amounts because their effect would be anti-dilutive		834			120		305			216

EQUITY TRANSACTIONS (Tables)

6 Months Ended

Dec. 31, 2016

EQUITY TRANSACTIONS [Abstract]

Stock options exercised to purchase common stock

During the three and six months ended December 31, 2016 and 2015, stock options to purchase shares of the Company’s common stock were exercised as follows:

	Three-Months Ended December 31,				Six-Months Ended December 31,
	2016		2015		2016		2015
	(Unaudited)				(Unaudited)

Options Exercised		29,527		11,000		75,750		112,425
Proceeds (in thousands)	$	118	$	45	$	259	$	313
Average exercise price per share	$	3.98	$	3.98	$	3.41	$	2.77

Schedule of share repurchases

During the three and six months ended December 31, 2016 and 2015, shares were repurchased as follows:

	Three-Months Ended December 31,				Six-Months Ended December 31,
	2016		2015		2016		2015
	(Unaudited)				(Unaudited)

Shares repurchased		-		68,022		-		68,022
Cash paid for shares repurchased (in thousands)	$	-	$	540	$	-	$	540
Average price paid per share	$	-	$	7.94	$	-	$	7.94

GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Dec. 31, 2016

GOODWILL AND INTANGIBLE ASSETS [Abstract]

Schedule of Intangible Assets

At December 31, 2016 and June 30, 2016, intangible assets consisted of the following (in thousands, unaudited):

		December 31, 2016							June 30, 2016
	Estimated Useful Lives	Original Amount		Accumulated Amortization			Net Amount		Original Amount		Accumulated Amortization			Net Amount

Customer relationships	7 years	$	3,007	$	(277	)	$	2,730	$	580	$	(60	)	$	520
Permits	6 - 15 years		1,290		(239	)		1,051		668		(191	)		477
Patents	5 - 17 years		383		(257	)		126		383		(251	)		132
Tradename	7 years		270		(19	)		251		-		-			-
Non-compete	5 years		117		(11	)		106		-		-			-
Total intangible assets, net		$	5,067	$	(803	)	$	4,264	$	1,631	$	(502	)	$	1,129

Schedule of Goodwill

The changes in the carrying amount of goodwill since June 30, 2016 was as follows (in thousands, unaudited):

Balance at June 30, 2016	$	1,039
Goodwill acquired during the six months ended December 31, 2016		5,685
Balance at December 31, 2016	$	6,724

Schedule of future amortization of intangible assets

As of December 31, 2016, future amortization of intangible assets is as follows (in thousands, unaudited):

Twelve Months Ending December 31,
2017	$	606
2018		606
2019		606
2020		606
2021		594
Thereafter		1,246
	$	4,264

INVENTORY (Tables)

6 Months Ended

Dec. 31, 2016

INVENTORY [Abstract]

Components of inventory

The components of inventory are as follows (in thousands):

	December 31, 2016		June 30, 2016
	(Unaudited)
Raw materials	$	1,443		1,388
Finished goods		2,939		2,531
Total	$	4,382		3,919

REVENUES BY SOLUTION (Tables)

6 Months Ended

Dec. 31, 2016

REVENUES BY SOLUTION [Abstract]

Schedule of billings by solution

The components of revenues by solution are as follows (in thousands, unaudited):

	Three-Months Ended December 31,
	2016		% Total			2015		% Total
REVENUES BY SOLUTION:
Mailbacks	$	6,415		66.1	%	$	7,414		74.2	%
Route-based pickup services		1,580		16.3	%		480		4.8	%
Unused medications		742		7.6	%		1,034		10.3	%
Third party treatment services		74		0.8	%		75		0.8	%
Other⁽¹⁾		896		9.2	%		989		9.9	%
Total revenues	$	9,707		100.0	%	$	9,992		100.0	%

	Six-Months Ended December 31,
	2016		% Total			2015		% Total
REVENUES BY SOLUTION:
Mailbacks	$	12,664		65.9	%	$	12,938		72.4	%
Route-based pickup services		3,045		15.8	%		841		4.7	%
Unused medications		1,533		8.0	%		2,036		11.4	%
Third party treatment services		142		0.7	%		154		0.9	%
Other⁽¹⁾		1,854		9.6	%		1,892		10.6	%
Total revenues	$	19,238		100.0	%	$	17,861		100.0	%

(1)

The Company’s other products include non-mailback products such as IV poles, accessories, containers, asset return boxes and other miscellaneous items.

ACQUISITIONS (Tables)

6 Months Ended

Dec. 31, 2016

Business Acquisition [Line Items]

Summary of acquisition related costs

	Three-Months Ended December 31,				Six-Months Ended December 31,
	2016		2015		2016		2015
	(Unaudited)				(Unaudited)

Acquisition-related expenses	$	-	$	74	$	702	$	151

Summary of unaudited pro forma financial information

The following table presents summarized unaudited pro forma financial information as if Citiwaste had been included in the Company’s results for the three and six months ended December 31, 2015 (in thousands):

	Three-Months Ended December 31,		Six-Months Ended December 31,
	2015		2015
	(Unaudited)
Revenues	$	10,723	$	19,323
Net income	$	572	$	749

Alpha Bio Med Services LLC [Member]

Business Acquisition [Line Items]

Preliminary purchase price allocation

The following amounts represent the fair value of the assets acquired and liabilities assumed:

Accounts receivable	$	51
Fixed assets		70
Intangibles		267
Goodwill		413
Accounts payable and accrued liabilities		(101	)
Total purchase price	$	700

Bio-Team Mobile LLC [Member]

Business Acquisition [Line Items]

Preliminary purchase price allocation

The following amounts represent the fair value of the assets acquired and liabilities assumed:

Accounts receivable	$	42
Fixed assets		68
Intangibles		313
Goodwill		626
Accounts payable and accrued liabilities		(16	)
Total purchase price	$	1,033

Citiwaste LLC [Member]

Business Acquisition [Line Items]

Preliminary purchase price allocation

The following amounts represent the fair value of the assets acquired and liabilities assumed:

Cash	$	5
Accounts receivable		495
Fixed assets		30
Intangibles		3,357
Goodwill		5,685
Accounts payable and accrued liabilities		(356	)
Debt assumed		(187	)
Total purchase price	$	9,029

ORGANIZATION AND BACKGROUND (Details)	6 Months Ended
ORGANIZATION AND BACKGROUND (Details)	Dec. 31, 2016 StateRegion
ORGANIZATION AND BACKGROUND [Abstract]
Number of route-based pick-up service in state region	11

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016
Revenue Recognition [Abstract]
Revenue recorded from bill and hold inventory	$ 0.8	$ 1.9	$ 1.8	$ 2.5
Bill and hold inventory	$ 2.2		$ 2.2		$ 2.1

INCOME TAXES (Details)	6 Months Ended
INCOME TAXES (Details)	Dec. 31, 2015
Effective income tax rate reconciliation [Abstract]
Effective income tax rate	8.50%

NOTES PAYABLE AND LONG-TERM DEBT (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2016	Jun. 30, 2016
Long-term debt [Abstract]
Total long-term debt	$ 2,896
Less: current portion	684	$ 0
Long-term debt, net of current portion	2,212	$ 0
Payments due on long-term debt [Abstract]
2017	684
2018	662
2019	600
2020	600
2021	350
Total long-term debt	2,896
Unsecured Note Payable [Member]
Long-term debt [Abstract]
Monthly payments	$ 7
Maturity date	Sep. 30, 2018
Total long-term debt	$ 146
Payments due on long-term debt [Abstract]
Total long-term debt	146
Term Loan [Member]
Long-term debt [Abstract]
Monthly payments	$ 50
Maturity date	Jul. 31, 2021
Total long-term debt	$ 2,750
Payments due on long-term debt [Abstract]
Total long-term debt	2,750
Credit Agreement [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 9,000
Percentage of eligible accounts receivable considered for borrowing base	80.00%
Percentage of eligible inventory considered for borrowing base	50.00%
Maturity period	5 years
Unused capacity, commitment fee percentage	0.25%
Remaining borrowing capacity	$ 5,900
Long-term debt [Abstract]
Maturity date	Apr. 09, 2018
Credit Agreement [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Interest rate	3.00%
Amount of tangible net worth to be maintained under financial covenants	$ 7,000
Amount of liquidity to be maintained under financial covenants	$ 6,000
Debt service coverage ratio	1.35
Credit Agreement [Member] \| Working Capital [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 4,000
Description of variable rate basis	WSJ Prime
Interest rate	3.75%	3.50%
Remaining borrowing capacity	$ 3,700
Credit Agreement [Member] \| Letters of Credit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	1,000
Amount outstanding	300
Credit Agreement [Member] \| Acquisitions [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 5,000
Percentage of portion allocated to acquisition purchase price	75.00%
Description of variable rate basis	WSJ Prime
Interest rate	4.00%	3.75%
Remaining borrowing capacity	$ 2,200
Basis spread of variable rate	0.25%

STOCK-BASED COMPENSATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
STOCK-BASED COMPENSATION (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 134	$ 217	$ 273	$ 358
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	13	10	25	18
Selling, General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 121	$ 207	$ 248	$ 340

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016
EARNINGS PER SHARE [Abstract]
Net income (loss), as reported	$ (227)	$ 615	$ (1,194)	$ 835	$ 13
Weighted average common shares outstanding (in shares)	15,929	15,467	15,898	15,443
Effect of dilutive stock options (in shares)	0	595	0	551
Weighted average diluted common shares outstanding (in shares)	15,929	16,062	15,898	15,994
Net income (loss) per common share [Abstract]
Basic (in dollars per share)	$ (0.01)	$ 0.04	$ (0.08)	$ 0.05
Diluted (in dollars per share)	$ (0.01)	$ 0.04	$ (0.08)	$ 0.05
Employee stock options excluded from computation of dilutive income per share amounts because their effect would be anti-dilutive (in shares)	834	120	305	216

EQUITY TRANSACTIONS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016
Stock options exercised [Abstract]
Options exercised (in shares)	29,527	11,000	75,750	112,425
Proceeds	$ 118	$ 45	$ 259	$ 313
Average exercise price per share (in dollars pe