Related Party Transaction

12 Months Ended

Jun. 30, 2022

Related Party Transaction

Related Party Transaction

NOTE 11 – Related Party Transaction

In December 2020, 5,333,064 shares of common stock were sold by the Company's President and Chairman in an underwritten secondary offering at the offering price of $13.00 per share, less underwriting discounts and commissions. The Company received no proceeds from the offering, but incurred $289,000 in offering expenses, which are recorded in selling, general, and administrative expenses in the accompanying condensed consolidated statements of income.