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Note 12 - Stockholders' Equity
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3 Months Ended |
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Sep. 30, 2014
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| Stockholders' Equity Note [Abstract] | |
| Stockholders' Equity Note Disclosure [Text Block] |
NOTE 12 - STOCKHOLDERS’ EQUITY
Share-Based Payment Transactions
During the three months ended September 30, 2014, the Company issued 17,500 shares of restricted common stock for services rendered by officers of the Company. These shares were valued at the fair market value of $152,900 and recorded as compensation expense in the accompanying condensed consolidated financial statements.
During the three months ended September 30, 2014, the Company issued 1,726 shares of restricted common stock 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 $18,433 and recorded as compensation expense in the accompanying condensed consolidated financial statements.
During the three months ended September 30, 2014, the Company issued 9,500 shares of its common stock to employees pursuant to the terms of their employment agreements valued at $87,860 and recorded as compensation expense in the accompanying condensed consolidated financial statements.
On September 19, 2014, the Company received $850,000 pursuant to a stock purchase agreement for the purchase of 298,245 restricted shares of common stock at $2.85 per share. The Company issued the shares on October 10, 2014.
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- Details
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- Definition
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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