Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity

v3.21.2
Stockholders' Equity
 12 Months Ended
Jun. 30, 2021
Equity [Abstract]  
Stockholders' Equity

NOTE 17 - STOCKHOLDERS’ EQUITY

 

During the years ended June 30, 2021 and 2020, the Company issued 20,353 and 55,044 shares of common stock, respectively, for services rendered by officers of the Company. These shares were valued at the fair market value of $118,316 and $312,090, respectively, and recorded as compensation expense in the accompanying consolidated financial statements.

 

During the years ended June 30, 2021 and 2020, the Company issued 1,983 and 73,667 shares of common stock respectively, 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 $11,997 and $261,622, respectively, and recorded as compensation expense in the accompanying consolidated financial statements.

 

During the years ended June 30, 2021 and 2020, the Company issued 37,100 and 81,696 shares of common stock, respectively, to employees pursuant to the terms of their employment agreements. These shares were valued at the fair market value of $211,353 and $416,738, respectively, and recorded as compensation expense in the accompanying consolidated financial statements.

 

During the year ended June 30, 2021, the Company purchased 669,018 shares of its common stock from the open market for cash proceeds of $2,364,781 at an average price of $3.53 per share pursuant to the Company’s stock buy-back plan.