Quarterly report pursuant to Section 13 or 15(d)

Incentive and Non-statutory Stock Option Plan

v3.10.0.1
Incentive and Non-statutory Stock Option Plan
 3 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Incentive and Non-statutory Stock Option Plan

NOTE 17 - 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)

     Aggregated Intrinsic Value  
                         
Outstanding and exercisable, June 30, 2018     53,462     $ 6.50       0.61     $ -  
Granted     -       -                  
Exercised     -       -                  
Expired / Cancellesd     -       -                  
Outstanding and exercisable, September 30, 2018     53,462     $ 6.50       0.36     $ 5,346  

  

The following table summarizes information about stock options outstanding and exercisable at September 30, 2018.

 

Exercise Price     Number Outstanding and Exercisable     Weighted Average Remaining Contractual Life     Weighted Ave Exercise Price  
OPTIONS:                    
                     
$      6.50       53,462       0.36     $ 6.50  
  Totals       53,462       0.36     $ 6.50  

 

The following table summarizes stock grants awarded as compensation:

 

    # of shares     Weighted Average Grant Date Fair Value ($)  
             
Unvested, June 30, 2018     155,648     $ 6.07  
Granted     92,276     $ 5.55  
Vested     (73,891 )   $ 6.04  
Unvested, September 30, 2018     174,033     $ 5.88  

 

For the three months ended September 30, 2018 and 2017, the Company recorded compensation expense of $432,048 and $439,308, respectively. The compensation expense related to the unvested stock grants as of September 30, 2018 was $1,011,309 which will be recognized during the fiscal years 2019 through 2022.