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Stockholders' Equity (Tables)

12 Months Ended

Jun. 30, 2021

Stockholders' Equity

Schedule of vested and unvested stock option 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, 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
Granted		575,348		​	2.28		270,000		​	2.25		305,348		​	2.31
Options vesting		—		​	—		199,499		​	2.16		(199,499)		​	2.16
Exercised		(274,520)		​	1.34		(274,520)		​	1.34		—		​	—
Forfeited		(126,250)		​	2.59		(102,500)		​	2.72		(23,750)		​	1.99
Repurchased		(243,750)		​	1.32		(243,750)		​	1.32		—		​	—
Outstanding at June 30, 2021		3,258,408	​	$	1.68		2,930,474	​	$	1.60		327,934	​	$	2.46

Schedule of 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, 2021 and 2020.

​

​	​	​	​	​	​
​	​	Years Ended
​	​	June 30,			​
​	​	2021		2020	​
Expected dividend yield	​	0	%	0	%
Risk-free interest rate	​	0.37 - 1.05	%	0.43 - 1.69	%
Expected life (in years)	​	5 - 6		5 - 6	​
Expected volatility	​	56 - 63	%	62 - 64	%

Schedule of additional information regarding stock options outstanding and exercisable

Additional information regarding stock options outstanding and exercisable as of June 30, 2021 is as follows:

​

​	​	​	​	​	​	​	​
​	Option		​		Remaining		​
​	Exercise	​	Options	​	Contractual	​	Options
​	Price	​	Outstanding	​	Life (in years)	​	Exercisable
$	0.59		8,150		1.00		8,150
​	0.60		5,000		1.00		5,000
​	0.65		6,150		1.00		6,150
​	0.70		225,000		4.43		225,000
​	0.77		49,500		2.08		49,500
​	0.80		16,000		4.14		16,000
​	0.90		25,667		2.81		25,667
​	0.97		6,000		1.00		6,000
​	1.00		28,249		2.43		28,249
​	1.02		2,000		1.00		2,000
​	1.05		315,529		5.01		315,529
​	1.07		33,898		1.29		33,898
​	1.09		75,000		4.12		75,000
​	1.10		105,000		4.00		105,000
​	1.15		128,400		1.61		128,400
​	1.20		274,000		6.05		274,000
​	1.25		32,000		1.62		32,000
​	1.30		243,000		0.68		243,000
​	1.50		185,000		1.48		185,000
​	1.59		25,000		6.87		25,000
​	1.80		94,050		2.13		94,050
​	1.85		17,800		1.80		17,800
​	1.95		200,000		7.01		200,000
​	2.13	​	216,708	​	9.39	​	200,000
​	2.17	​	35,955	​	9.87	​	—
​	2.40		338,667		7.38		326,000
​	2.43	​	61,250	​	9.93	​	31,250
​	2.45	​	173,000	​	9.10	​	—
​	2.49	​	88,435	​	8.84	​	45,832
​	2.50	​	20,000	​	7.88	​	15,000
​	2.99	​	8,000	​	8.87	​	3,333
​	3.13	​	208,000	​	8.38	​	204,666
​	3.50	​	8,000	​	8.62	​	4,000
​	Total	​	3,258,408	​	​	​	2,930,474

Schedule of warrant activity

The following table summarizes warrant activity:

​

​	​	​	​	​	​
​		​		Weighted
​	​	​	​	Average
​	​	Number of	​	Exercise
​	​	Warrants	​	Price
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
Granted		—	​		—
Exercised		(190,000)	​		1.25
Repurchased		(100,000)	​		1.25
Expired/Cancelled		(45,000)	​		1.25
Outstanding, June 30, 2021		50,000	​	$	1.19
Exercisable, June 30, 2020		385,000	​	$	1.24
Exercisable, June 30, 2021		50,000	​	$	1.19

​

Schedule of additional information regarding warrants outstanding and exercisable

Additional information regarding warrants outstanding and exercisable as of June 30, 2021 is as follows:

​

​	​	​	​	​	​	​	​
​	​		​		Remaining		​
​	Warrant	​	Warrants	​	Contractual	​	Warrants
​	Exercise Price	​	Outstanding	​	Life (in years)	​	Exercisable
$	1.19		50,000		0.48		50,000
​	Total		50,000				50,000

Schedule of restricted common stock activity

The following table summarizes restricted common stock activity:

​

​	​	​	​	​	​	​	​	​
​		​		​	​		Weighted
​	​	​	​	​	​	​	Average
​	​	Number of	​	​	​	​	Grant Date
​	​	Shares	​	Fair Value		​	Fair Value
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
Granted		195,810	​		463,994	​		2.37
Vested		(142,413)	​		(376,338)	​		2.37
Forfeited		—	​		—	​		—
Non-vested, June 30, 2021		245,252	​	$	481,953	​	$	2.47

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 2019		28,750	​	$	2.50		—		​	—
December 2019		42,500	​	$	3.00		—		​	—
March 2020		25,150	​	$	2.75		—		​	—
June 2020		19,800	​	$	2.68		—		​	—
Year ended June 30, 2020		116,200	​	$	2.77		—		​	—
​		​	​		​				​
September 2020		25,500	​	$	2.29		—		​	—
December 2020		31,167	​	$	2.21		—		​	—
March 2021		10,750	​	$	2.15		—	​	$	376,888
June 2021		11,050	​	$	2.50		—	​	$	349,263
Year ended June 30, 2021		78,467	​	$	2.27		—	​	$	349,263

​

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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