Quarterly report pursuant to Section 13 or 15(d)

SHARE BASED PAYMENTS

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SHARE BASED PAYMENTS
 9 Months Ended
Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]  
SHARE BASED PAYMENTS

NOTE 17 – SHARE BASED PAYMENTS

 

The following table summarizes stock grants awarded as compensation:

 

    # of shares     Weighted Average Grant Date Fair Value ($)  
Unvested, June 30, 2021     6,985     $ 5.75  
Granted     3,000     $ 4.20  
Vested     (4,985 )   $ 4.94  
Forfeited / Cancelled     -     $ -  
Unvested, March 31, 2022     5,000     $ 5.69  

 

For the three and nine months ended March 31, 2022, the Company recorded compensation expense of $19,713 and $36,941, respectively. For the three and nine months ended March 31, 2021, the Company recorded compensation expense of $74,169 and $239,333, respectively. The compensation expense related to the unvested stock grants as of March 31, 2022 was $7,112 which will be recognized during the fiscal year 2022.