Quarterly report pursuant to Section 13 or 15(d)

Incentive and Non-statutory Stock Option Plan

v3.19.3.a.u2
Incentive and Non-statutory Stock Option Plan
 6 Months Ended
Dec. 31, 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, December 31, 2019     40,386     $ 6.50       0.12     $ -  

  

The following table summarizes information about stock options outstanding and exercisable at December 31, 2019.

 

Exercise Price    

Number

Outstanding

and

Exercisable

    

Weighted

Average

Remaining

Contractual

Life

    

Weighted

Average

Exercise

Price

  
OPTIONS:                    
$6.50       40,386       0.12     $ 6.50  
Totals       40,386       0.12     $ 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     128,221     $ 5.53  
Vested     (88,824 )   $ 5.50  
Forfeited / Cancelled     (991 )   $ 6.05  
Unvested, December 31, 2019     119,921     $ 5.78  

 

For the three and six months ended December 31, 2019, the Company recorded compensation expense of $164,292 and $328,585, respectively. For the three and six months ended December 31, 2018, the Company recorded compensation expense of $437,695 and $869,743, respectively. The compensation expense related to the unvested stock grants as of December 31, 2018 was $662,589 which will be recognized during the fiscal years 2020 through 2022.