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Capital Stock | 6 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Capital Stock | Note 5. Capital Stock Authorized Capital Authorized capital stock consists of 200,000,000 common shares with par value of $0.01 per common share (June 30, 2022 – 200,000,000 common shares with par value $0.01 per common share). For the three months ended December 31, 2022, the Company issued 455,099 shares of Common Stock from its ATM program for net proceeds of $158,513. For the three months ended December 31, 2021, the Company issued 98,706 shares of Common Stock from its ATM program for net proceeds of $68,924. For the six months ended December 31, 2022, the Company issued 341,297 shares for payment of interest accrued and owing (Note 6) with a fair value of $160,413. The Company also issued 455,099 shares from its ATM program for net proceeds of $158,513. For the six months ended December 31, 2021, the Company issued 168,690 shares for payment of interest accrued and owing (Note 6) with a fair value of $163,642. The Company also issued 2,301,058 shares from its ATM for net proceeds of $1,898,475. Stock Options, Restricted Stock Units and Stock Based Compensation Paramount’s 2015 and 2016 Stock Incentive and Compensation Plans, which are stockholder-approved, permits the grant of stock options, restricted stock units and stock to its employees and directors for up to 3.5 million shares of common stock. Total stock-based compensation for the three months ended December 31, 2022 and 2021 were $63,005 and $41,880, respectively. Total stock-based compensation for the six months ended December 31, 2022 and 2021 were $180,831 and $84,551, respectively. Stock Options Stock option awards are generally granted with an exercise price equal to the market price of Paramount’s stock at the date of grant and have contractual lives of 5 years. To better align the interests of its key executives, employees and directors with those of its shareholders a significant portion of those share option awards will vest contingent upon meeting certain stock price appreciation performance goals and other performance conditions. Option and share awards provide for accelerated vesting if there is a change in control (as defined in the Stock Incentive and Compensation Plans). For the three months ended December 31, 2022, the Company did not grant stock options (2021 – nil). For the six months ended December 31, 2022, the Company granted 50,000 stock options (2021 - nil) with an exercise price of $0.60 and a term of 5 years. The stock options vested immediately on the date of grant. The fair value for options granted for the six months ended December 31, 2022 was calculated using the Black-Scholes option valuations method. The weighted average assumptions used were as follows:
|  | Six Months Ended December 31, 2022 |  |  | Six Months Ended December 31, 2021
Weighted average risk-free interest rate |  |  | 2.79 | % |  | N/A
Weighted-average volatility |  |  | 58 | % |  | N/A
Expected dividends |  | 0 |  |  | N/A
Weighted average expected term (years) |  | 5 |  |  | N/A
Weighted average fair value |  | $ | 0.19 |  |  | N/A
For the three months ended December 31, 2022, share-based compensation expense relating to service condition options and performance condition options was $937 and $3,185, respectively (2021 - $25,410 and $16,470). For the six months ended December 31, 2022, share-based compensation expense relating to service condition options and performance condition options was $12,021 and $6,832, respectively (2021 -$48,050 and $36,500). A summary of stock option activity under the Stock Incentive and Compensation Plans as of December 31, 2022 is presented below:
Options |  | Options |  |  | Weighted Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at June 30, 2021 |  |  | 1,998,995 |  |  | $ | 1.17 |  |  |  | 3.31 |  |  | $ | — |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited or expired |  |  | (190,000 | ) |  |  | 1.42 |  |  |  | 1.48 |  |  |  | — |
Outstanding at June 30, 2022 |  |  | 1,808,995 |  |  | $ | 1.14 |  |  |  | 2.42 |  |  | $ | — |
Granted |  |  | 50,000 |  |  |  | 0.60 |  |  |  | 4.75 |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited or expired |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at December 31, 2022 |  |  | 1,858,995 |  |  | $ | 1.13 |  |  |  | 1.99 |  |  | $ | — |
Exercisable at December 31, 2022 |  |  | 1,246,664 |  |  | $ | 1.12 |  |  |  | 2.07 |  |  | $ | — |
A summary of the status of Paramount’s non-vested options as at December 31, 2022 is presented below:
Non-vested Options |  | Options |  |  | Weighted- Average Grant- Date Fair Value |
Non-vested at June 30, 2021 |  |  | 1,033,998 |  |  | $ | 0.55 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | (288,332 | ) |  |  | 0.53 |
Forfeited or expired |  |  | (88,333 | ) |  |  | 0.73 |
Non-vested at June 30, 2022 |  |  | 657,333 |  |  | $ | 0.55 |
Granted |  |  | 50,000 |  |  |  | 0.19 |
Vested |  |  | (95,002 | ) |  |  | 0.28 |
Forfeited or expired |  |  | — |  |  |  | — |
Non-vested at December 31, 2022 |  |  | 612,331 |  |  | $ | 0.56 |
As of December 31, 2022, there was approximately $13,785 of unamortized stock-based compensation expense related to non-vested stock options outstanding. The expenses are expected to be recognized over a weighted-average period of 0.83 years. The total fair value of stock based compensation that vested related to outstanding stock options during the three months ended December 31, 2022 and 2021, was $16,873 and $nil, respectively. Restricted Stock Units ("RSUs") RSUs are awards for service and performance which upon vesting and settlement entitle the recipient to receive one common share of the Company's Common Stock for no additional consideration, for each RSU held. For the three months ended December 31, 2022, there were no RSUs granted by the Company (2021 - Nil). For the three months ended December 31, 2022, share-based compensation expenses related to service condition RSUs and performance condition RSUs was $34,251 and $24,632, respectively (2021 - $nil and $nil) For the six months ended December 31, 2022, share-based compensation expenses related to service condition RSUs and performance condition RSUs was $73,269 and $88,709, respectively (2021 -$nil and $nil) A summary of RSUs activity is summarized as follows:
Restricted Share Unit Activity |  | Outstanding RSUs |  |  | Weighted average grant date fair value |
Outstanding at June 30, 2021 |  |  | — |  |  | $ | — |
Granted |  |  | 701,000 |  |  |  | 0.65 |
Vested |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |
Outstanding at June 30, 2022 |  |  | 701,000 |  |  | $ | 0.65 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | 150,000 |  |  |  | 0.65 |
Forfeited |  |  | — |  |  |  | — |
Outstanding at December 31, 2022 |  |  | 551,000 |  |  | $ | 0.65 |
As of December 31, 2022, there was approximately $122,388 of unamortized stock-based compensation expense related to outstanding RSUs. The expenses are expected to be recognized over the remaining weighted-average vesting periods of 0.66 years.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
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