Stock Options (Tables)

9 Months Ended

Mar. 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 nine months ended March 31, 2019 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

	2019
Risk-free interest rates		3.1	%
Expected lives		10 years
Expected volatility		52	%
Expected dividend yields		0	%

Schedule of Share-based Compensation, Stock Options, Activity

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

	2019					2018
	Options			Weighted average exercise price		Options			Weighted average exercise price
Outstanding, beginning of year		57,200		$	7.09		70,600		$	5.84
Granted		24,000			15.28		25,000			9.01
Terminated/Lapsed		—			—		—			—
Exercised		(13,200	)		6.43		(20,600	)		5.55
Outstanding, end of period		68,000		$	10.11		75,000		$	6.97
Exercisable, end of period		33,300		$	7.84		43,200		$	6.34
Weighted average fair value at grant date of options granted	$	8.76				$	5.61
Total intrinsic value of options exercised	$	150,000				$	84,000
Total intrinsic value of options outstanding	$	723,000				$	292,000
Total intrinsic value of options exercisable	$	430,000				$	218,000

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 March 31, 2019:

	Options outstanding						Options exercisable
Range of exercise prices	Number outstanding		Weighted average remaining contractual life		Weighted average exercise price		Number exercisable		Weighted average exercise price
$4.88-$16.16		68,000		7.7	$	10.11		33,300	$	7.84
		68,000		7.7	$	10.11		33,300	$	7.84

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 nine months ended March 31,:

	2019					2018
	Options			Weighted average exercise price		Options		Weighted average exercise price
Outstanding, beginning of year		27,800		$	6.85		14,200	$	4.69
Granted		—			—		15,000		8.70
Terminated/Lapsed		—			—		—		—
Exercised		(14,600	)		5.68		—		—
Outstanding, end of period		13,200		$	8.15		29,200	$	6.75
Exercisable, end of period		4,200		$	6.97		15,200	$	5.53
Weighted average fair value at grant date of options granted		n/a				$	8.70
Total intrinsic value of options exercised	$	167,000					n/a
Total intrinsic value of options outstanding	$	166,000				$	86,000
Total intrinsic value of options exercisable	$	58,000				$	63,000

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 March 31, 2019:

	Options outstanding						Options exercisable
Range of exercise prices	Number outstanding		Weighted average remaining contractual life		Weighted average exercise price		Number exercisable		Weighted average exercise price
$4.37 - $8.70		13,200		8.2	$	8.15		4,200	$	6.97
		13,200		8.2	$	8.15		4,200	$	6.97

2018 Non-Employee Stock Option Plan [Member]

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

The fair value of each option granted during the nine months ended March 31, 2019 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

	2019
Risk-free interest rates		2.9	%
Expected lives		10 years
Expected volatility		50	%
Expected dividend yields		0	%

Schedule of Share-based Compensation, Stock Options, Activity

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

	2019				2018
	Options		Weighted average exercise price		Options		Weighted average exercise price
Outstanding, beginning of year		—	$	—		—	$	—
Granted		20,000		16.20		—		—
Terminated/Lapsed		—		—		—		—
Exercised		—		—		—		—
Outstanding, end of period		20,000	$	16.20		—	$	—
Exercisable, end of period		4,000	$	16.20		—	$	—
Weighted average fair value at grant date of options granted	$	10.24				n/a
Total intrinsic value of options exercised		n/a				n/a
Total intrinsic value of options outstanding	$	91,000				n/a
Total intrinsic value of options exercisable	$	18,000				n/a

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 March 31, 2019:

	Options outstanding						Options exercisable
Range of exercise prices	Number outstanding		Weighted average remaining contractual life		Weighted average exercise price		Number exercisable		Weighted average exercise price
$16.20-$16.20		20,000		9.7	$	16.20		4,000	$	16.20
		20,000		9.7	$	16.20		4,000	$	16.20