Stock Options (Tables)

12 Months Ended

Jun. 30, 2020

2012 Employee Stock Option Plan [Member]

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

The fair value of each option granted during fiscal 2020 and 2019 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

	2020		2019
Risk-free interest rates	0.6% - 2.1	%	2.5% - 3.1	%
Expected lives	10	years	10	years
Expected volatility	44% - 46	%	48% - 52	%
Expected dividend yields	0	%	0	%

Schedule of Share-based Compensation, Stock Options, Activity

The following table reflects activity under the 2012 Plan for the fiscal years ended June 30,:

	2020					2019
			Weighted				Weighted
			average				average
			exercise				exercise
	Options		price		Options		price
Outstanding, beginning of year		72,500	$	11.01		57,200	$	7.09
Granted		70,940		24.50		29,000		16.59
Terminated		(10,000)		19.84		0		0
Exercised		(15,600)		7.55		(13,700)		6.42
Outstanding, end of year		117,840	$	18.84		72,500	$	11.01
Exercisable, end of year		35,000	$	13.13		33,800	$	8.05
Weighted average fair value at grant date of options granted	$	13.43			$	9.15
Total intrinsic value of options exercised	$	278,000			$	160,000
Total intrinsic value of options outstanding	$	696,000			$	1,353,000
Total intrinsic value of options exercisable	$	389,000			$	731,000

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 June 30, 2020:

	Options outstanding				Options exercisable
		Weighted
		average	Weighted			Weighted
Range of	Number	remaining	average exercise		Number	average exercise
exercise prices	outstanding	contractual life	price		exercisable	price
$4.37‑$33.59	117,840	8.4	$	18.84	35,000	$	6.50
	117,840	8.4	$	18.84	35,000	$	6.50

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 fiscal years ended June 30,:

	2020					2019
			Weighted				Weighted
			average				average
			exercise				exercise
	Options		price		Options		price
Outstanding, beginning of year		10,200	$	7.99		27,800	$	6.85
Granted		1,800		23.35		—		—
Terminated		—		—		(1,800)		8.70
Exercised		—		—		(15,800)		5.91
Outstanding, end of year		12,000	$	10.29		10,200	$	7.99
Exercisable, end of year		5,760	$	8.35		3,000	$	6.27
Weighted average fair value at grant date of options granted	$	12.94				n/a
Total intrinsic value of options exercised		n/a			$	192,000
Total intrinsic value of options outstanding	$	157,000			$	221,000
Total intrinsic value of options exercisable	$	87,000			$	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 June 30, 2020:

	Options outstanding				Options exercisable
		Weighted average	Weighted			Weighted
Range of	Number	remaining	average exercise		Number	average exercise
exercise prices	outstanding	contractual life	price		exercisable	price
$4.37 - $23.35	12,000	7.2	$	10.29	5,760	$	8.35
	12,000	7.2	$	10.29	5,760	$	8.35

Fair Value Measurement Inputs and Valuation Techniques

The fair value of each option granted during fiscal 2020 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

	2020
Risk-free interest rates	1.6	%
Expected lives	10	years
Expected volatility	44	%
Expected dividend yields	0	%

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 fiscal year ended June 30,:

	2020				2019
			Weighted average exercise				Weighted average exercise
	Options		price		Options		price
Outstanding, beginning of year		15,200	$	16.20		—	$	—
Granted		33,200		26.82		20,000		16.20
Terminated		—		—		(3,200)		16.20
Exercised		—		—		(1,600)		16.20
Outstanding, end of year		48,400	$	23.48		15,200	$	16.20
Exercisable, end of year		12,240	$	21.96		2,400	$	16.20
Weighted average fair value at grant date of options granted	$	15.09			$	10.24
Total intrinsic value of options exercised		n/a			$	24,000
Total intrinsic value of options outstanding	$	110,000			$	205,000
Total intrinsic value of options exercisable	$	40,000			$	32,000

The following table summarizes information about stock options outstanding under the 2018 Non- Employee Plan at June 30, 2020:

	Options outstanding				Options exercisable
		Weighted
		average	Weighted			Weighted
Range of	Number	remaining	average exercise		Number	average exercise
exercise prices	outstanding	contractual life	price		exercisable	price
$16.20-$30.54	48,400	9.2	$	23.48	12,240	$	21.96
	48,400	9.2	$	23.48	12,240	$	21.96

Fair Value Measurement Inputs and Valuation Techniques

The fair value of each option granted during the fiscal year ended June 30, 2020 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

	2020		2019
Risk-free interest rates	1.6% - 1.8	%	2.9	%
Expected lives	10	years	10	years
Expected volatility	44% - 45	%	50	%
Expected dividend yields	0	%	0	%