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Subsequent Events | 12 Months Ended
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Jun. 30, 2020
Subsequent Events |
Subsequent Events | Note 10. Subsequent Events Stock options In July 2020, the Company issued 54,777 shares of common stock upon the exercise of stock options underlying 90,000 shares of stock. On September 17, 2020, the Company granted stock options underlying 173,000 shares of common stock to employees with a fair value of approximately $235,000. The options vest over a three-year period, and have a term of ten years. Restricted Common Stock On August 3, 2020, the Company issued 120,000 shares of restricted stock to employees. These shares vest over a three year period, with a one year cliff vesting period, and remain subject to forfeiture if vesting conditions are not met. The aggregate value of the stock award was $294,000 based on the market price of our common stock of $2.45 per share on the date of grant, which will be amortized over the three-year vesting period.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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