XML 96 R24.htm IDEA: XBRL DOCUMENT v3.20.2
Stockholders' Equity
12 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Stockholders' Equity

NOTE 17 - STOCKHOLDERS’ EQUITY

 

During the years ended June 30, 2020 and 2019, the Company issued 55,044 and 41,482 shares of common stock, respectively, for services rendered by officers of the Company. These shares were valued at the fair market value of $312,090 and $252,655, respectively, and recorded as compensation expense in the accompanying consolidated financial statements.

 

During the years ended June 30, 2020 and 2019, the Company issued 73,667 and 35,723 shares of common stock respectively, 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 $261,622 and $201,246, respectively, and recorded as compensation expense in the accompanying consolidated financial statements.

 

During the years ended June 30, 2020 and 2019, the Company issued 81,696 and 112,992 shares of common stock, respectively, to employees pursuant to the terms of their employment agreements. These shares were valued at the fair market value of $416,738 and $686,109, respectively, and recorded as compensation expense in the accompanying consolidated financial statements.

 

During the years ended June 30, 2019, the Company received $85,000 pursuant to a stock option agreement for the exercise of 13,076 shares of common stock at $6.50 per share.

 

During the years ended June 30, 2019, the Company purchased 41,650 shares of its common stock from the open market at an average price of $6.03 per share pursuant to the Company’s stock buy-back plan.