Stock Options (Tables)

6 Months Ended

Dec. 31, 2019

2012 Employee Stock Option Plan [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of each option granted during the six months ended December 31 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

	2019		2018
Risk-free interest rates	1.80% - 2.10	%	3.10	%
Expected lives	10	years	10	years
Expected volatility	45% - 46	%	52	%
Expected dividend yields	0	%	0	%

Schedule of Share-based Compensation, Stock Options, Activity

The following table reflects activity under the 2012 Employee Plan for the six months ended December 31,:

	2019				2018
			Weighted average				Weighted average
	Options		exercise price		Options		exercise price
Outstanding, beginning of year		72,500	$	11.01		57,200	$	7.09
Granted		28,000		30.13		24,000		15.28
Exercised		—		—		(9,500)		5.97
Outstanding, end of period		100,500	$	16.34		71,700	$	9.98
Exercisable, end of period		48,400	$	11.10		36,500	$	7.84
Weighted average fair value at grant date of options granted	$	16.57			$	8.76
Total intrinsic value of options exercised	$	—			$	104,000
Total intrinsic value of options outstanding	$	1,359,000			$	417,000
Total intrinsic value of options exercisable	$	895,000			$	290,000

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding under the 2012 Employee Plan at December 31, 2019:

	Options outstanding				Options exercisable
		Weighted average
	Number	remaining	Weighted average		Number	Weighted average
Range of exercise prices	outstanding	contractual life	exercise price		exercisable	exercise price
$4.37‑$33.59	100,500	7.8	$	16.34	48,400	$	11.10
	100,500	7.8	$	16.34	48,400	$	11.10

2012 Non-Employee Stock Option Plan [Member]

Schedule of Share-based Compensation, Stock Options, Activity

The following table reflects activity under the 2012 Non-Employee Plan for the six months ended December 31,:

	2019				2018
			Weighted average				Weighted average
	Options		exercise price		Options		exercise price
Outstanding, beginning of year		10,200	$	7.99		27,800	$	6.85
Exercised		—		—		11,000		5.36
Outstanding, end of period		10,200	$	7.99		16,800	$	7.83
Exercisable, end of period		5,400	$	7.35		7,800	$	6.83
Weighted average fair value at grant date of options granted		n/a				n/a
Total intrinsic value of options exercised		n/a			$	120,000
Total intrinsic value of options outstanding	$	218,000			$	133,000
Total intrinsic value of options exercisable	$	119,000			$	70,000

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding under the 2012 Non-Employee Plan at December 31, 2019:

	Options outstanding				Options exercisable
		Weighted average	Weighted			Weighted
	Number	remaining	average exercise		Number	average exercise
Range of exercise prices	outstanding	contractual life	price		exercisable	price
$4.37 - $8.70	10,200	7.3	$	7.99	5,400	$	7.35
	10,200	7.3	$	7.99	5,400	$	7.35

2018 Non-Employee Stock Option Plan

Schedule of Share-based Compensation, Stock Options, Activity

The following table reflects activity under the 2018 Non-Employee Plan for the six months ended December 31,:

	2019					2018
			Weighted average				Weighted average
	Options		exercise price			Options	exercise price
Outstanding, beginning of year		15,200	$	16.20		—	$	—
Granted		16,000		30.54		20,000		16.20
Outstanding, end of period		31,200	$	23.55		20,000	$	16.20
Exercisable, end of period		8,800	$	21.41		4,000	$	16.20
Weighted average fair value at grant date of options granted	$	17.40			$	10.24
Total intrinsic value of options exercised		n/a				n/a
Total intrinsic value of options outstanding	$	200,000			$	—
Total intrinsic value of options exercisable	$	74,000			$	—

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding under the 2018 Non-Employee Plan at December 31, 2019:

	Options outstanding				Options exercisable
		Weighted average	Weighted			Weighted
	Number	remaining	average exercise		Number	average exercise
Range of exercise prices	outstanding	contractual life	price		exercisable	price
$16.20-$30.54	31,200	9.4	$	23.55	8,800	$	21.41
	31,200	9.4	$	23.55	8,800	$	21.41

Fair Value Measurement Inputs and Valuation Techniques

The fair value of each option granted during the six months ended December 31 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

	2019		2018
Risk-free interest rates	1.80	%	2.9	%
Expected lives	10	years	10	years
Expected volatility	45	%	50	%
Expected dividend yields	—	%	—	%