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Subsequent Events
 12 Months Ended
Jun. 30, 2021
Subsequent Events  
Subsequent Events

Note 10. Subsequent Events

Stock Options

On August 5, 2021, the Company granted stock options underlying 30,882 shares of common stock to employees with a fair value of approximately $40,000. The options vest over a three-year period, and have a term of ten years.

On September 16, 2021 the Company granted stock options underlying 33,195 shares of common stock to employees with a fair value of approximately $46,000. The options vest over a three-year period, and have a term of ten years.

Restricted Common Stock

On August 5, 2021, the Company issued 115,909 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 $306,000 based on the market price of our common stock of $2.64 per share on the date of grant, which will be amortized over the three-year vesting period.