STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock Option Activity

A summary of stock option activity for the nine months ended March 31, 2024 is presented in the table below:

	Stock Option Grants		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Balance at July 1, 2023		273,000	$	8.33		9.20
Granted		-	$	-		-
Exercised		-		-		-
Forfeited		-		-		-
Balance at March 31, 2024		273,000	$	8.33		9.20	$	-
Exercisable at March 31, 2024		-	$	-		-	$	-
Unrecognized compensation cost	$	682,000
Weighted average remaining recognition period (years)		4.20

Restricted Stock

The following table presents activity in restricted stock awards under the 2023 Equity Plan for the nine months ended March 31, 2024:

	Restricted Stock Awards		Weighted Average Grant Price
Restricted stock awards at July 1, 2023		111,000	$	8.35
Granted		-		-
Vested		22,200		8.35
Forfeited		-		-
Restricted stock awards at March 31, 2024		88,800	$	8.35
Unrecognized compensation cost	$	731,000
Weighted average remaining recognition period (years)		4.20