Quarterly report pursuant to Section 13 or 15(d)

INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN

v3.24.1.1.u2
INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN
 9 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN

NOTE 15 – INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN

 

Common stock purchase options consisted of the following:

 

OPTIONS:

 

    # of shares     Weighted
Average
Exercise Price		     Weighted
Average
Remaining
Contractual Life
(in years)		     Aggregate
Intrinsic Value		  
                         
Outstanding and exercisable, June 30, 2023     -       -       -          
Granted     250,000     $ 2.15       0.74          
Exercised     -       -       -          
Expired / Cancelled     -       -       -          
Outstanding and exercisable, March 31, 2024     250,000     $ 2.15       0.74     $ 155,000  

 

The aggregate intrinsic value at March 31, 2024 represents the difference between the Company’s closing stock price of $2.77 on March 31, 2024 and the exercise price of the in-the-money stock options.

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Condensed Consolidated Financial Statements

March 31, 2024

(Unaudited)

 

The following table summarizes information about stock options outstanding and exercisable at March 31, 2024.

 

Exercise Price   Number
Outstanding
and
Exercisable		     Weighted
Average
Remaining
Contractual
Life		     Weighted
Average
Exercise
Price		  
OPTIONS:                        
                         
$2.15     250,000       0.74     $ 2.15  
$2.15     250,000       0.74     $ 2.15  
Totals     250,000       0.74     $ 2.15  

 

OPTIONS

 

During the nine months ended March 31, 2024, the Company granted 250,000 options to officers and employees with an exercise price of $2.15 per share, an expiration date of one year, and immediate vesting. Using the Black-Scholes method to value the options, the Company recorded $101,424 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:

 

  ● Risk-free interest rate - 5.24%
  ● Expected life – 6 months
  ● Expected volatility – 63.6%
  ● Expected dividend - 0%