Quarterly report pursuant to Section 13 or 15(d)

Incentive and Non-statutory Stock Option Plan

v3.20.2
Incentive and Non-statutory Stock Option Plan
 3 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Incentive and Non-statutory Stock Option Plan

NOTE 17 - INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN

 

The following table summarizes stock grants awarded as compensation:

 

    # of shares     Weighted Average Grant Date Fair Value ($)  
Unvested, June 30, 2020     66,421     $ 5.88  
Granted     -     $ -  
Vested     (14,896 )   $ 5.84  
Forfeited / Cancelled     -     $ -  
Unvested, September 30, 2020     51,525     $ 5.73  

 

For the three months ended September 30, 2020 and 2019, the Company recorded compensation expense of $90,617 and $164,293, respectively. The compensation expense related to the unvested stock grants as of September 30, 2020 was $282,612 which will be recognized during the fiscal years 2021 through 2022.