Note 3 - Stock-based Compensation Plans

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

NOTE

3

– STOCK-BASED COMPENSATION PLANS

The Company has outstanding options and stock awards pursuant to its

2009

Equity Incentive Plan,

2014

Equity Incentive Plan and

2019

Equity Incentive Plan.

Stock Options to Directors, Officers and Consultants

In total, options to purchase

115,000

shares were unexercised and outstanding on

March 31, 2020

under these equity incentive plans.

The Company recognized

no

stock option related compensation costs in each of the

three

months ended

March 31, 2020

and

2019.

Additionally,

no

options were exercised during the

three

months ended

March 31, 2020.

Stock Awards to Directors, Officers,

and

Consultants

The Company has granted stock awards pursuant to its

2014

Equity Incentive Plan and

2019

Equity Incentive Plan.

Of the total

675,000

shares reserved under the

2014

Equity Incentive Plan,

674,987

shares have been awarded to the Company’s directors, consultants and employees. Of the

674,987

shares awarded,

15,312

shares were awarded for service during the plan year ended

June 30, 2019.

These shares became effective on that date and vested on

January 31, 2020.

Upon approval of the

2019

Equity Incentive Plan in

July 2019,

13

shares remaining available for award under the

2014

Equity Incentive Plan were cancelled.

Of the total

1,200,000

shares reserved under the

2019

Equity Incentive Plan,

237,120

shares have been awarded to the Company directors and consultants as of

March 31, 2020

The accompanying consolidated statements of operations and comprehensive loss include approximately

$1,250,000

and

$122,000

of stock-based compensation expense related to stock awards in the

three

months ended

March 31, 2020

and

2019,

respectively.