EQUITY TRANSACTIONS

6 Months Ended

Dec. 31, 2018

Stockholders' Equity Note [Abstract]

EQUITY TRANSACTIONS

EQUITY TRANSACTIONS

During the three and six months ended December 31, 2018 and 2017, there were no exercises of stock options to purchase shares of the Company's common stock. As of December 31, 2018, there was $0.3 million of stock compensation expense related to non-vested awards which is expected to be recognized over a weighted average period of 2.5 years.

During the twelve months ended June 30, 2018, the Company issued 20,617 shares of common stock as a portion of consideration for a third-party lease agreement. The shares were issued at $4.00 per share based on the closing price on the date of grant. This issuance was exempt from registration pursuant to Section 4(a)(2) of the Securities Act. Non-cash expense recorded during the six months ended December 31, 2018 was $24 thousand. The remaining cost will be amortized over the life of the lease and is included in Prepaid and Other Current Assets or Other Assets on the balance sheet.

On November 15, 2018, the Company's stockholders approved an amendment to the Company's certificate of incorporation to increase the authorized shares of common stock from 20,000,000 to 40,000,000 shares.