LONG-TERM INCENTIVE PLAN AWARDS (Tables)

9 Months Ended

Mar. 31, 2023

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		(100,000	)		1.34		–		–
Cancelled		–			–		–		–
Forfeited or expired		(17,000	)		5.40		–		–
Outstanding as of March 31, 2023		649,001		$	4.24		3.12	$	595,200
Exercisable as of March 31, 2023		405,277		$	4.63		2.85	$	248,724

The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based upon the Company’s closing stock price of $4.98 as of March 31, 2023, 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 649,001 shares was $3.35 per share. As of March 31, 2023, there was unrecognized compensation cost of $724,837 related to non-vested stock options granted.

A summary of the status of our stock options is presented below as of March 31, 2022: 

						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