STOCK OPTIONS (Notes)

6 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Options

STOCK OPTIONS

The Company recognizes stock-based compensation expense for options granted under both the 1990 Flexible Incentive Plan and the 2012 Omnibus Incentive Plan ("2012 Plan"). The stock-based compensation relates to stock options granted to employees and non-employee directors. In the six months ended December 31, 2018, options to purchase 585,000 shares were granted under the 2012 Plan at a weighted average exercise price of $2.79. In the six months ended December 31, 2017, options to purchase 490,000 shares were granted under the 2012 Plan at a weighted average exercise price of $1.89. Stock-based compensation expense during the three and six months ended December 31, 2018 was $97,555 and $194,356. Stock-based compensation expense during the three and six months ended December 31, 2017 was $82,791 and $165,832.