Quarterly report pursuant to Section 13 or 15(d)

Incentive and Non-statutory Stock Option Plan (Tables)

v3.5.0.2
Incentive and Non-statutory Stock Option Plan (Tables)
 3 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Schedule of Common Stock Purchase Options and Warrants

Common stock purchase options and warrants consisted of the following:

 

OPTIONS:

 

    # of shares     Weighted Ave Exercise     Weighted Average Remaining Contractual Life (in years)     Aggregated Intrinsic Value  
                         
Outstanding and exercisable, June 30, 2016     610,133     $ 4.90       0.99     $ 799,030  
Granted     20,315     $ 4.75                  
Exercised     (20,315 )   $ 4.75                  
Expired / Cancelled     -                          
Outstanding and exercisable, September 30, 2016     610,133     $ 4.90       0.74     $ 1,013,097  

 

WARRANTS:

 

Outstanding and exercisable, June 30, 2016     163,124     $ 7.29       0.23     $ 9,303  
Granted / adjusted     -       -                  
Exercised     -       -                  
Expired     (152,049 )   $ 7.46                  
Outstanding and exercisable, September 30, 2016     11,075     $ 5.00       0.43     $ 13,955  

 
Summary of Stock Options and Warrants Outstanding and Exercisable

The following table summarizes information about stock options and warrants outstanding and exercisable at September 30, 2016.

 

Exercise Price   Number Outstanding and Exercisable     Weighted Average Remaining Contractual Life     Weighted Ave Exercise Price  
OPTIONS:                        
                         
$0.10 - $9.90     609,133       0.74     $ 4.88  
$10.00 - $19.90     1,000       0.80     $ 16.00  
Totals     610,133       0.74     $ 4.90  
                         
WARRANTS:                        
$5.00 - $7.50     11,075       0.43     $ 5.00  
Totals     11,075       0.43     $ 5.00  

Summary of Unvested Stock Grants Awarded as Compensation

The following table summarizes stock grants awarded as compensation:

 

    # of shares     Weighted Average Grant Date Fair Value ($)  
                 
Unvested, June 30, 2015     6,667     $ 6.00  
Granted     864,500     $ 5.91  
Vested     (240,939 )   $ 5.51  
Unvested, June 30, 2016     630,228     $ 6.07  
Granted     229,646     $ 5.92  
Canceled     (1,000 )   $ 5.09  
Vested     (148,594 )   $ 5.82  
Unvested, September 30, 2016     710,280     $ 6.07  

Schedule of Fair Value Used Assumptions

The fair market value was calculated using the Black-Scholes option pricing model with the following assumptions:

 

  ● Risk-free interest rate - 0.01%
     
  ● Expected life – 3 months
     
  ● Expected volatility – 19.27%
     
  ● Expected dividend - 0%