| Incentive and Non-Statutory Stock Option Plan |
NOTE 13 - INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN
Common stock purchase options and warrants consisted of the
following:
| |
|
# of shares |
|
|
Weighted
Average
Exercise Price
|
|
|
Weighted
Average
Remaining
Contractual
Life (in years)
|
|
|
Aggregated
Intrinsic Value
|
|
| OPTIONS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding and exercisable, June 30, 2015 |
|
|
708,133 |
|
|
$ |
6.84 |
|
|
|
1.22 |
|
|
$ |
572,352 |
|
| Granted |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Expired / Cancelled |
|
|
(11,000 |
) |
|
$ |
23.41 |
|
|
|
|
|
|
|
|
|
| Outstanding and exercisable, September 30, 2015 |
|
|
697,133 |
|
|
$ |
6.58 |
|
|
|
1 |
|
|
$ |
513,765 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| WARRANTS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding and exercisable, June 30, 2015 |
|
|
163,124 |
|
|
$ |
7.29 |
|
|
|
1.22 |
|
|
$ |
- |
|
| Granted / adjusted |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Expired |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Outstanding and exercisable, September 30, 2015 |
|
|
163,124 |
|
|
$ |
7.29 |
|
|
|
0.97 |
|
|
$ |
222 |
|
The following table summarizes information
about stock options and warrants outstanding and exercisable at September 30, 2015.
| Exercise Price |
|
|
Number
Outstanding
and
Exercisable
|
|
|
Weighted
Average
Remaining
Contractual
Life
|
|
|
Weighted
Average
Exercise
Price
|
|
| OPTIONS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| $0.10 - $9.90 |
|
|
|
634,133 |
|
|
|
1.03 |
|
|
$ |
4.84 |
|
| $10.00 - $19.90 |
|
|
|
8,000 |
|
|
|
0.82 |
|
|
$ |
17.69 |
|
| $20.00 - $29.90 |
|
|
|
55,000 |
|
|
|
0.66 |
|
|
$ |
25.00 |
|
| Totals |
|
|
|
697,133 |
|
|
|
1.00 |
|
|
$ |
6.58 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| WARRANTS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| $5.00 - $7.50 |
|
|
|
163,124 |
|
|
|
0.97 |
|
|
$ |
7.29 |
|
| Totals |
|
|
|
163,124 |
|
|
|
0.97 |
|
|
$ |
7.29 |
|
The following table summarizes stock grants awarded as compensation:
| |
|
# of shares |
|
|
Weighted
Average Grant
Date Fair Value
($)
|
|
| |
|
|
|
|
|
|
| Unvested, June 30, 2014 |
|
|
232,000 |
|
|
$ |
3.88 |
|
| Granted |
|
|
113,275 |
|
|
$ |
3.26 |
|
| Vested |
|
|
(338,608 |
) |
|
$ |
3.60 |
|
| Unvested, June 30, 2015 |
|
|
6,667 |
|
|
$ |
6.00 |
|
| Granted |
|
|
100,000 |
|
|
$ |
5.02 |
|
| Vested |
|
|
(15,000 |
) |
|
$ |
4.40 |
|
| Unvested, September 30, 2015 |
|
|
91,667 |
|
|
$ |
5.06 |
|
For the three months ended September
30, 2015 and 2014, the Company recorded compensation expense of $77,750 and $290,162, respectively. The compensation expense
related to the unvested stock grants as of September 30, 2015 was $464,252 which
will be recognized during the fiscal years of 2016 and 2017.
|