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Subsequent Events
12 Months Ended
Jun. 30, 2022
Subsequent Events  
Subsequent Events

Note 8. Subsequent Events

On July 30, 2022, the Company issued 36,509 shares of unrestricted stock to a former officer for services rendered prior to their termination date. These shares vest immediately. The aggregate value of the stock award was $68,273 based on the market price of our common stock of $1.87 per share on the date of grant, which was expensed in the year ended June 30, 2022.

On August 19, 2022, the Company issued 222,334 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 $431,300 based on the market price of our common stock of $1.94 per share on the date of grant, which will be amortized over the three-year vesting period.