NOTE 15 - STOCKHOLDERS’ EQUITY

During the nine months ended March 31, 2018, the Company issued 39,204 shares of common stock for services rendered by officers of the Company. These shares were valued at the fair market value of $245,025.

During the nine months ended March 31, 2018, the Company issued 9,699 shares of common stock for services rendered by the independent members of the Board of Directors as part of their board compensation. These shares were valued at the fair market value of $55,080.

During the nine months ended March 31, 2018, the Company issued 147,612 shares of its common stock to employees pursuant to the terms of their employment agreements valued at $907,661.

During the nine months ended March 31, 2018, the Company collected subscription receivable of $76,511 related to the exercise of stock options in previous years.

During the nine months ended March 31, 2018, the Company received $138,800 pursuant to a stock option agreement for the exercise of 35,773 shares of common stock at price of $3.88 per share.

During the nine months ended March 31, 2018, the Company paid $750,714 to purchase 171,074 of shares of its common stock from the open market at an average price of $4.39 per share.