Incentive and Non-statutory Stock Option Plan
|9 Months Ended|
Mar. 31, 2017
|Incentive And Non-statutory Stock Option Plan|
|Incentive and Non-statutory Stock Option Plan||
NOTE 14 - INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN
Common stock purchase options and warrants consisted of the following:
The following table summarizes information about stock options and warrants outstanding and exercisable at March 31, 2017.
The following table summarizes stock grants awarded as compensation:
For the three and nine months ended March 31, 2017, the Company recorded compensation expense of $499,743 and $2,047,839, respectively. For the three and nine months ended March 31, 2016, the Company recorded compensation expense of $368,674 and $694,693, respectively. The compensation expense related to the unvested stock grants as of March 31, 2017 was $3,085,100 which will be recognized during the fiscal years 2017 through 2022.
During the nine months ended March 31, 2017, the Company granted 79,838 options to employees with exercise prices of ranging from $4.45 to $4.75 per share and expiration dates of 1 to 3 months, vesting immediately. Using the Black-Scholes method to value the options, the Company recorded $26,956 in compensation expense for these options in the accompanying condensed consolidated financial statements. The fair market value was calculated using the Black-Scholes option pricing model with the following assumptions: