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Subsequent Events
12 Months Ended
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.