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LONG-TERM INCENTIVE PLAN AWARDS (Tables)

9 Months Ended

Mar. 31, 2024

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, 2023

647,001

$

4.24

2.88

$

130,200

Granted

–

–

–

–

Exercised

–

–

–

–

Cancelled

–

–

–

–

Forfeited or expired

(20,000

)

4.90

–

–

Outstanding as of March 31, 2024

627,001

$

4.22

2.14

$

–

Exercisable as of March 31, 2024

539,921

$

4.37

2.03

$

–

The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based upon the Company’s closing stock price of $2.99 per share as of March 31,2024, 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, 2024, in the amount of 627,001 shares was $3.33 per share. As of March 31, 2024, there was unrecognized compensation cost of $259,182 related to non-vested stock options granted.

A summary of the status of our stock options is presented below as of March 31, 2023:

										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