Quarterly report pursuant to Section 13 or 15(d)

Incentive and Non-statutory Stock Option Plan

v3.19.3
Incentive and Non-statutory Stock Option Plan
 3 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Incentive and Non-statutory Stock Option Plan

NOTE 18 - 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, 2019     40,386     $ 6.50       0.61     $ 404  
Granted     -       -                  
Exercised     -       -                  
Expired / Cancelled     -       -                  
Outstanding and exercisable, September 30, 2019     40,386     $ 6.50       0.36     $ -  

 

The following table summarizes information about stock options outstanding and exercisable at September 30, 2019.

 

Exercise Price   Number Outstanding and Exercisable     Weighted Average Remaining Contractual Life     Weighted Average Exercise Price  
OPTIONS:                        
                         
$6.50     40,386       0.36     $ 6.50  
Totals     40,386       0.36     $ 6.50  

 

The following table summarizes stock grants awarded as compensation:

 

    # of shares     Weighted Average Grant Date Fair Value ($)  
Unvested, June 30, 2019     81,515     $ 5.88  
Granted     117,895     $ 5.66  
Vested     (60,367 )   $ 5.68  
Forfeited / Cancelled     (991 )   $ 6.05  
Unvested, September 30, 2019     138,052     $ 5.78  

 

For the three months ended September 30, 2019 and 2018, the Company recorded compensation expense of $164,293 and $432,048, respectively. The compensation expense related to the unvested stock grants as of September 30, 2018 was $778,463 which will be recognized during the fiscal years 2020 through 2022.