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Stockholders' Equity (Tables)

12 Months Ended

Jun. 30, 2020

Stockholders' Equity

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes vested and unvested stock option activity:

		All Options					Vested Options					Unvested Options
				Weighted					Weighted					Weighted
				Average					Average					Average
				Exercise					Exercise					Exercise
		Shares		Price			Shares		Price			Shares		Price
Outstanding at July 1, 2018		2,991,835			1.16		2,885,376			1.15		106,459			1.27
Granted		717,000			2.22		250,000			2.40		467,000			2.12
Options vesting		—			—		105,042			1.49		(105,042)			1.49
Exercised		(396,500)			1.19		(396,500)			1.19		—			—
Forfeited/Cancelled		(25,000)			1.05		(16,667)			1.05		(8,333)			1.05
Outstanding at June 30, 2019		3,287,335			1.38		2,827,251			1.27		460,084			2.09
Granted		324,000			3.04		250,000			3.13		74,000			2.72
Options vesting		—			—		278,249			2.05		(278,249)			2.05
Exercised		(263,755)			1.16		(263,755)			1.16		—			—
Forfeited/Cancelled		(20,000)			1.95		(10,000)			1.95		(10,000)			1.95
Outstanding at June 30, 2020		3,327,580		$	1.56		3,081,745		$	1.50		245,835		$	2.34

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table presents the assumptions used to estimate the fair values based upon a Black-Scholes option pricing model of the stock options granted during the years ended June 30, 2020 and 2019.

		Years Ended
		June 30,
		2020		2019
Expected dividend yield		0	%	0	%
Risk-free interest rate		0.43% - 1.69	%	2.24% - 3.00	%
Expected life (in years)		5 - 6		5 - 6
Expected volatility		62% - 64	%	68% - 69	%

Schedule of Share-based Compensation, by Exercise Price Range

Additional information regarding stock options outstanding and exercisable as of June 30, 2020 is as follows:

	Option				Remaining
	Exercise		Options		Contractual		Options
	Price		Outstanding		Life (in years)		Exercisable
$	0.59		8,150		2.00		8,150
	0.60		5,000		2.00		5,000
	0.65		6,150		2.00		6,150
	0.70		225,000		5.43		225,000
	0.77		49,500		3.08		49,500
	0.80		16,000		5.14		16,000
	0.90		25,667		3.81		25,667
	0.97		6,000		2.00		6,000
	1.00		28,249		3.43		28,249
	1.02		87,000		0.12		87,000
	1.05		400,529		6.09		400,529
	1.07		33,898		2.29		33,898
	1.09		124,165		5.34		124,165
	1.10		105,000		5.00		105,000
	1.14		3,674		2.00		3,674
	1.15		209,400		4.11		209,400
	1.20		352,414		7.08		350,580
	1.25		32,000		2.62		32,000
	1.30		243,000		1.68		243,000
	1.50		195,000		2.38		195,000
	1.59		35,000		7.87		26,250
	1.75		1,067		2.00		1,067
	1.80		94,050		3.13		94,050
	1.85		24,000		2.59		24,000
	1.95		275,000		8.01		189,583
	2.40		398,667		8.38		334,500
	2.49		50,000		9.25		—
	2.50		20,000		8.88		8,333
	2.99		8,000		9.87		—
	3.13		258,000		9.38		250,000
	3.50		8,000		9.62		—
	Total		3,327,580				3,081,745

Schedule of Other Share-based Compensation, Activity

The following table summarizes warrant activity:

				Weighted
				Average
		Number of		Exercise
		Warrants		Price
Outstanding, June 30, 2018		1,985,000		$	1.25
Granted		—			—
Exercised		(100,000)			1.22
Expired/Cancelled		—			—
Outstanding, June 30, 2019		1,885,000			1.25
Granted		—			—
Exercised		(1,500,000)			1.25
Expired/Cancelled		—			—
Outstanding, June 30, 2020		385,000		$	1.24
Exercisable, June 30, 2019		1,885,000		$	1.25
Exercisable, June 30, 2020		385,000		$	1.24

Schedule of Stockholders' Equity Note, Warrants or Rights

Additional information regarding warrants outstanding and exercisable as of June 30, 2020 is as follows:

						Remaining
Warrant				Warrants		Contractual		Warrants
Exercise Price				Outstanding		Life (in years)		Exercisable
	$	1.19		50,000		1.48		50,000
		1.25		335,000		0.89		335,000
Total				385,000				385,000

Schedule of Non-vested Restricted Stock Units Activity

The following table summarizes restricted common stock activity:

							Weighted
							Average
		Number of					Grant Date
		Shares		Fair Value			Fair Value
Non-vested, June 30, 2018		416,619		$	360,160		$	1.08
Granted		170,245			355,417			2.09
Vested		(275,329)			(303,194)			1.05
Forfeited		—			—			—
Non-vested, June 30, 2019		311,535			412,383			1.66
Granted		110,817			322,875			2.91
Vested		(230,497)			(340,961)			1.56
Forfeited		—			—			—
Non-vested, June 30, 2020		191,855		$	394,297		$	2.51

Schedule of Repurchase Agreements

The following table summarizes repurchases of our common stock on a monthly basis:

							Total Number of Shares		Approximate Dollar Value
		Total Number		Average			Purchased as Part of		of Shares that May Yet Be
		of Shares		Price Paid			Publicly Announced		Purchased Under the
Period		Purchased1		per Share			Plans or Programs		Plans or Programs
September 2018		34,200		$	2.20		—			—
December 2018		15,800		$	2.41		—			—
March 2019		20,500		$	2.24		—			—
June 2019		17,750		$	2.30		—			—
Year ended June 30, 2019		88,250		$	2.27		—			—
September 2019		28,750		$	2.50		—			—
December 2019		42,500		$	3.00		—			—
March 2020		25,150		$	2.75		—		$	330,838
June 2020		19,800		$	2.68		—		$	277,774
Year ended June 30, 2020		116,200		$	2.77		—		$	277,774

1      Consists of shares of common stock purchased from employees to satisfy tax obligations in connection with the vesting of stock incentive awards

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