Annual report pursuant to Section 13 and 15(d)

Incentive and Non-Statutory Stock Option Plan (Tables)

v3.19.2
Incentive and Non-Statutory Stock Option Plan (Tables)
 12 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Components of Common Stock Purchase Options

A summary of option and warrant activity for the years ended June 30, 2019 and 2018 is presented below:

 

OPTIONS:

 

    # of shares     Weighted Average Exercise Price     Weighted Average Remaining Contractual Life (in years)     Aggregated Intrinsic Value  
                         
Outstanding and exercisable, June 30, 2017     475,133     $ 4.20       1.05     $ 8,413  
Granted     -     $ 0.00                  
Exercised     (420,671 )   $ 3.88                  
Expired / Cancelled     (1,000 )   $ 16.00                  
Outstanding and exercisable, June 30, 2018     53,462     $ 6.50       0.61     $ -  
Granted     -       -                  
Exercised     (13,076 )   $ 6.50                  
Expired / Cancelled     -       -                  
Outstanding and exercisable, June 30, 2019     40,386     $ 6.50       0.61     $ -  
Schedule of Stock Options and Warrants Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at June 30, 2019.

 

Exercise Price   Number Outstanding and Exercisable     Weighted Average Remaining Contractual Life     Weighted Average Exercise Price  
OPTIONS:                        
                         
$6.50     40,386       0.61     $ 6.50  
Totals     40,386       0.61     $ 6.50  
Schedule of Fair Value of Options Granted Assumptions

The fair market value was calculated using the Black-Scholes option pricing model with the following assumptions:

 

    June 30, 2019  
Risk-free interest rate     2.56%  
Expected life     1 year  
Expected volatility     45%  
Expected dividend     0%  
Summary of Unvested Stock Grants Awarded as Compensation

The following table summarizes stock grants awarded as compensation:

 

    # of shares     Weighted Average Grant Date Fair Value ($)  
             
Unvested, June 30, 2017     420,199     $ 6.07  
Granted     47,513     $ 5.00  
Vested     (309,564 )   $ 6.00  
Forfeited / Cancelled     (2,500 )   $ 5.55  
Unvested, June 30, 2018     155,648     $ 6.07  
Granted     122,277     $ 5.71  
Vested     (191,450 )   $ 5.99  
Forefieted / Cancelled     (4,960 )   $ 6.05  
Unvested, June 30, 2019     81,515     $ 5.88