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STOCK BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Jun. 30, 2019
Share-based Payment Arrangement [Abstract] |
Schedule of stock based compensation plans | The Company has four active stock based compensation plans at June 30, 2019 as shown in the table below:
Date Approved |  | Name of Plan |  | Type of Plan |  | Authorized Shares
June 2013 |  | 2013 Stock Incentive Plan |  | Stock |  | 500,000 |
June 2014 |  | 2014 Stock Option Incentive Plan |  | Stock options |  | 750,000 |
June 2015 |  | 2015 Equity Incentive Plan |  | Stock & stock options |  | 1,250,000 |
April 2018 |  | 2018 Equity Incentive Plan |  | Stock & stock options |  | 1,500,000 |
|  |  |  |  |  | 4,000,000 |
Schedule of common stock for future issuance | As of June 30, 2019, the Company had reserved shares of Common Stock for future issuance for the following:
Common Stock |  | Reserved Shares
Exercise of Common Stock Warrants |  | 23,978 |
Conversions of Preferred Stock and cumulative Preferred Stock dividends |  | 104,139 |
Issuance under 2013 Stock Incentive Plan |  | — |
Issuance under 2014 Stock Option Incentive Plan |  | 101,447 |
Issuance under 2015 Equity Incentive Plan |  | 342,806 |
Issuance under 2018 Equity Incentive Plan |  | 1,500,000 |
Total shares reserved for future issuance |  | 2,072,370 |
Schedule of stock option granted weighted average assumptions | The fair value of options granted during the years ended June 30, 2019, 2018, and 2017 was determined using the following assumptions:
| For the year ended June 30,
| 2019 |  | 2018 |  | 2017
Expected volatility | 58.4 - 70.9% |  | 50.2 - 50.9% |  | 49.0 - 50.2%
Expected life (years) | 4.2 - 4.5 |  | 4.0 - 4.5 |  | 3.6 - 4.5
Expected dividends | 0.0% |  | 0.0% |  | 0.0%
Risk-free interest rate | 2.23-2.91% |  | 1.64 - 1.75% |  | 1.06 - 1.72%
Schedule of information related to outstanding options | The following tables provide information about outstanding options for the years ended June 30, 2019, 2018, and 2017:
| For the year ended June 30, 2019
Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period | 904,766 |  |  | $ | 3.31 |  |  | 4.3 |  | $ | 9,664 |
Granted | 470,000 |  |  | $ | 8.22 |  |  |  |  |
Exercised | (11,669 | ) |  | $ | 5.40 |  |  |  |  | $ | — |
Forfeited | (235,999 | ) |  | $ | 5.70 |  |  |  |  |
Expired | — |  |  | $ | — |  |  |  |  |
Outstanding options, end of period | 1,127,098 |  |  | $ | 4.84 |  |  | 4.3 |  | $ | 2,917 |
Exercisable options, end of period | 638,988 |  |  | $ | 2.86 |  |  | 3.4 |  | $ | 2,923 |
| For the year ended June 30, 2018
Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period | 895,221 |  |  | $ | 2.79 |  |  | 5.2 |  | $ | 2,160 |
Granted | 179,047 |  |  | $ | 5.66 |  |  |  |  |
Exercised | (93,169 | ) |  | $ | 1.92 |  |  |  |  | $ | — |
Forfeited | (76,333 | ) |  | $ | 4.30 |  |  |  |  |
Expired | — |  |  | $ | — |  |  |  |  |
Outstanding options, end of period | 904,766 |  |  | $ | 3.31 |  |  | 4.3 |  | $ | 9,664 |
Exercisable options, end of period | 632,737 |  |  | $ | 2.55 |  |  | 3.9 |  | $ | 7,242 |
| For the year ended June 30, 2017
| Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period | 610,141 |  |  | $ | 2.07 |  |  | 5.4 |  | $ | 1,342 |
Granted | 285,080 |  |  | $ | 4.30 |  |  |  |  |
Exercised | — |  |  | $ | — |  |  |  |  | $ | — |
Forfeited | — |  |  | $ | — |  |  |  |  |
Expired | — |  |  | $ | — |  |  |  |  |
Outstanding options, end of period | 895,221 |  |  | $ | 2.79 |  |  | 5.2 |  | $ | 2,160 |
Exercisable options, end of period | 483,474 |  |  | $ | 2.08 |  |  | 4.5 |  | $ | 1,511 |
Schedule of nonvested share activity | A summary of the status of the Company’s nonvested common shares as of June 30, 2019, 2018, and 2017, and changes during the years then ended is presented below:
| Shares |  | Weighted-Average Grant-Date Fair Value
Nonvested at June 30, 2016 | 128,498 |  |  | $ | 2.97 |
Granted | 135,585 |  |  | 4.25 |
Vested | (141,527 | ) |  | 3.33 |
Nonvested at June 30, 2017 | 122,556 |  |  | $ | 3.96 |
Granted | 275,547 |  |  | 5.31 |
Vested | (232,267 | ) |  | 4.92 |
Nonvested at June 30, 2018 | 165,836 |  |  | $ | 4.85 |
Granted | 40,062 |  |  | 13.90 |
Vested | (166,927 | ) |  | 6.01 |
Nonvested at June 30, 2019 | 38,971 |  |  | $ | 9.19 |
Schedule of stock-based compensation expense | A summary of the Company's stock-based compensation expense recognized during the years ended June 30, 2019, 2018, and 2017 is as follows (in thousands):
|  | For the year ended June 30,
Award type |  | 2019 |  | 2018 |  | 2017
Stock options |  | $ | 822 |  |  | $ | 485 |  |  | $ | 264 |
Stock grants |  | 928 |  |  | 1,309 |  |  | 950 |
Total stock-based compensation expense |  | $ | 1,750 |  |  | $ | 1,794 |  |  | $ | 1,214 |
A summary of the Company's unrecognized stock-based compensation expense as of June 30, 2019 is as follows:
|  | As of June 30, 2019
Award type |  | Unrecognized Expense (in thousands) |  | Weighted Average Recognition Period (in years)
Stock options |  | $ | 895 |  |  | 2.2
Stock grants |  | $ | 217 |  |  | 1.0

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