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Note 10 - Stock-based Compensation | 9 Months Ended
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Mar. 31, 2019
Notes to Financial Statements |
Share-based Payment Arrangement [Text Block] | 10. Stock-Based Compensation On September 15, 2010, the Company’s Board of Directors (the “Board”) adopted the Contango ORE, Inc. Equity Compensation Plan (the “2010 Plan”). On November 14, 2017, the Stockholders of the Company approved and adopted the Contango ORE, Inc. Amended and Restated 2010 Equity Compensation Plan (the “Amended Equity Plan”). The amendments to the 2010 Plan included (a) increasing the number of shares of Common Stock that the Company may issue under the plan by 500,000 shares; (b) extending the term of the plan until September 15, 2027; and (c) allowing the Company to withhold shares to satisfy the Company ’s tax withholding obligations with respect to grants paid in Company Stock. Under the Amended Equity Plan, the Board may issue up to 1,500,000 shares of common stock and options to officers, directors, employees or consultants of the Company. Awards made under the Amended Equity Plan are subject to such restrictions, terms and conditions, including forfeitures, if any, as may be determined by the Board. As of March 31, 2019, there were 456,666 shares of unvested restricted common stock outstanding and zero options to purchase shares of common stock outstanding issued under the Amended Equity Plan. Stock-based compensation expense for the three and nine months ended March 31, 2019 was $724,970 and 2,255,937, respectively. Stock-based compensation expense for the three and nine months ended March 31, 2018 was $731,995 and $1,730,112, respectively. The amount of compensation expense recognized does not reflect cash compensation actually received by the individuals during the current period, but rather represents the amount of expense recognized by the Company in accordance with GAAP. All restricted stock grants are expensed over the applicable vesting period based on the fair value at the date the stock is granted. The grant date fair value may differ from the fair value on the date the individual’s restricted stock actually vests. Restricted Stock. In November 2017, the Company granted 155,000 restricted shares of common stock to its executives and non-executive directors. The restricted stock granted vests in January 2020. As of March 31, 2019, there were 155,000 shares of such restricted stock that remained unvested. In November 2018, the Company granted 155,000 restricted shares of common stock to its executives and non-executive directors. The restricted stock granted vests in January 2021. As of March 31, 2019, there were 155,000 shares of such restricted stock that remained unvested. In December 2018, the Company cancelled 117,332 shares of unvested restricted stock held by two of its executives and the non-executive directors that were set to vest on January 1, 2019. The Company also granted 146,666 restricted shares of common stock to two of its executives and non-executive directors. The restricted shares cancellation and the subsequent new grants were accounted for as modification to the original restricted stock grants. The incremental fair value will be recognized over the vesting period. The impact of the modification to the current quarter was immaterial. All of the restricted stock granted in December 2018 vest in January 2021. As of March 31, 2019, there were 146,666 shares of such restricted stock that remained unvested. As of March 31, 2019 , the total compensation cost related to unvested awards not yet recognized was $3,837,805. The remaining costs will be recognized over the remaining vesting period of the awards. Neither Brad Juneau, the Company’s Chairman, President and Chief Executive Officer, nor any of the Company’s non-executive directors have ever been paid a salary or cash compensation by the Company. There were no stock option exercises during the quarter ended March 31, 2019 . During the nine months ended March 31, 2019 the Company's current and former executives, directors, and consultants cashless exercised 35,625 stock options resulting in the issuance of 19,513 shares of common stock to the exercising parties and no proceeds to the Company. During the nine months ended March 31, 2018, the Company's current executives, directors, and consultants cashless exercised 190,000 stock options resulting in the issuance of 93,026 shares of common stock to the exercising parties and no proceeds to the Company. The Company applies the fair value method to account for stock option expense. Under this method, cash flows from the exercise of stock options resulting from tax benefits in excess of recognized cumulative compensation cost (excess tax benefits) are classified as financing cash flows. See Note 3 – Summary of Significant Accounting Policies. All employee stock option grants are expensed over the stock option’s vesting period based on the fair value at the date the options are granted. The fair value of each option is estimated as of the date of grant using the Black-Scholes options-pricing model. As of March 31, 2019, there were no stock options outstanding . The total compensation cost related to these options has been fully recognized as all of the options are fully vested. A summary of the status of stock options granted under the Amended Equity Plan as of March 31, 2019 and changes during the nine months then ended, is presented in the table below:
|  | Nine Months Ended March 31, 2019 |
|  | Shares Under Options |  |  | Weighted Average Exercise Price |
Outstanding, June 30, 2018 |  |  | 35,625 |  |  | $ | 10.01 |
Granted |  |  | — |  |  |  | — |
Exercised |  |  | 35,625 |  |  | $ | 10.01 |
Forfeited |  |  | — |  |  |  | — |
Outstanding, March 31, 2019 |  |  | — |  |  | $ | — |
Aggregate intrinsic value |  | $ | — |  |  |  |  |
Exercisable, end of period |  |  | — |  |  | $ | — |
Aggregate intrinsic value |  | $ | — |  |  |  |  |
Available for grant, end of period |  |  | — |  |  |  |  |

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