LONG-TERM INCENTIVE PLAN AWARDS (Tables)

9 Months Ended

Mar. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of stock option activity

						Weighted-
						Average
				Weighted-		Remaining
				Average		Contractual		Aggregate
				Exercise		Life		Intrinsic
Options	Shares			Price		(In Years)		Value
Outstanding as of June 30, 2021		484,000		$	3.67		2.83	$	2,662,830
Granted		388,000			3.38		–		–
Exercised		(3,999	)		5.40		–		–
Cancelled		–			–		–		–
Forfeited or expired		(7,000	)		5.40		–		–
Outstanding as of March 31, 2022		861,001		$	3.52		3.26	$	804,040
Exercisable as of March 31, 2022		382,588		$	3.04		1.88	$	589,219

The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based upon the Company’s closing stock price of $3.985 as of March 31, 2022, which would have been received by the option holders had all option holders exercised their options as of that date. The weighted-average grant-date fair value of stock options outstanding as of March 31, 2022, in the amount of 861,001 shares was $2.92 per share. As of March 31, 2022, there was unrecognized compensation cost of $1,503,518 related to non-vested stock options granted.

A summary of the status of our stock options is presented below as of March 31, 2021:

							Weighted-
							Average
				Weighted-			Remaining
				Average			Contractual		Aggregate
				Exercise			Life		Intrinsic
Options	Shares			Price			(In Years)		Value
Outstanding as of June 30, 2020		251,291		$	1.05			1.95	$	1,124,525
Granted		299,000			5.40			–		–
Exercised		(61,291	)		(1.22	)		–		–
Cancelled		–			–			–		–
Forfeited or expired		(4,000	)		(5.40	)		–		–
Outstanding as of March 31, 2021		485,000		$	3.67			3.08	$	8,088,910
Exercisable as of March 31, 2021		190,000		$	0.99			1.20	$	3,678,650