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LONG-TERM INCENTIVE PLAN AWARDS (Tables)

3 Months Ended

Sep. 30, 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, 2022

766,001

$

3.85

3.37

$

183,270

Granted

–

–

–

–

Exercised

–

–

–

–

Cancelled

–

–

–

–

Forfeited or expired

(10,000

)

5.40

–

–

Outstanding as of September 30, 2022

756,001

$

3.86

3.11

$

158,000

Exercisable as of September 30, 2022

399,089

$

3.90

2.36

$

158,000

The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based upon the Company’s closing stock price of $2.92 as of September 30, 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 September 30, 2022, in the amount of 756,001 shares was $3.17 per share. As of September 30, 2022, there was unrecognized compensation cost of $1,102,036 related to non-vested stock options granted.

A summary of the status of our stock options is presented below as of September 30, 2021:

										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			–				–				–				–
Exercised			(3,999	)			5.40				–				–
Cancelled			–				–				–				–
Forfeited or expired			(3,000	)			5.40				–				–
Outstanding as of September 30, 2021			477,001			$	3.64				2.56			$	1,725,372

Exercisable as of September 30, 2021			303,622			$	2.64				0.70			$	1,402,888