Capital Stock Transactions

12 Months Ended

Jun. 30, 2016

Equity [Abstract]

Capital Stock Transactions

Capital Stock Transactions

Stock Option Plans

As of June 30, 2016, the Company had in effect 2 employee stock option plans that provide for incentive and non-qualified stock options. After accounting for shares issued upon exercise of options, a total of 995,846 shares of the Company’s common stock remain available for issuance as of June 30, 2016. Under the terms of the plans, options may not be granted for less than the fair market value of the Common Stock at the date of grant. Vesting generally occurs ratably between one and five years and for non-employee directors, immediately and the options are exercisable over a period no longer than 10 years after the grant date. As of June 30, 2016, options to purchase 616,500 shares of the Company’s common stock were outstanding, of which 616,500 were exercisable, and 0 shares were unvested.

The following is a summary of Escalon’s stock option activity and related information for the fiscal years ended June 30, 2016 and 2015:

	2016				2015
	Common Stock Options		Weighted Average Exercise Price		Common Stock Options		Weighted Average Exercise Price
Outstanding at the beginning of the year	813,942		$	3.36	995,846		$	3.89
Granted	21,000		0.79		—		—
Exercised	—		—		—		—
Forfeited	(218,442	)	6.58		(181,904	)	$	6.29
Outstanding at the end of the year	616,500		$	2.27	813,942		$	3.36
Exercisable at the end of the year	616,500				747,083		—
Weighted average fair value of options granted during the year			$	12,680			$	—

The following table summarizes information about stock options outstanding as of June 30, 2016:

	Number Outstanding at June 30, 2016	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price		Number Exercisable at June 30, 2015	Weighted Average Exercise Price
Range of Exercise Prices
$0.79	21,000	9.83	$	0.79	21,000	$	0.79
$1.45 to $2.12	192,000	6.54	$	1.55	192,000	$	1.55
$2.21 to $3.05	403,500	1.37	$	2.61	403,500	$	2.48
Total	616,500				616,500

Compensation expense related to stock options for the years ended June 30, 2016 and 2015 was $52,293 and $67,367, respectively.

Stock Compensation

During 2016 the Company issued 25,000 shares to a consultant resulting in $19,750 in compensation expense.