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Capital Stock | 3 Months Ended
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Sep. 30, 2024
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 as of September 30, 2024 (June 30, 2024 – 200,000,000 common shares with par value $0.01 per common share). For the three months ended September 30, 2024, the Company issued 114,918 shares of common stock from its ATM program for net proceeds of $46,358 and issued 898,888 shares of common stock for payment of interest accrued on its outstanding Royalty Convertible Debenture (Note 6) with a fair value of $383,334. For the three months ended September 30, 2023, the Company issued 3,515,257 shares of common stock from its ATM program for net proceeds of $1,088,528 and issued 553,141 shares of common stock for payment of interest accrued (Note 6) with a fair value of $160,413. 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 5.5 million shares of common stock. Total stock-based compensation for the three months ended September 30, 2024 and 2023 were $62,205 and $66,684, 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 September 30, 2024, the Company did no t grant stock options (three months ended September 30, 2023 – nil). For the three months ended September 30, 2024, share-based compensation expense relating to service condition options and performance condition options was $nil and $1,199, respectively (2023 -$nil and $1,564). A summary of stock option activity under the Stock Incentive and Compensation Plans as of September 30, 2024 is presented below:
Options |  | Options |  |  | Weighted Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at June 30, 2023 |  |  | 1,405,000 |  |  | $ | 1.05 |  |  |  | 2.06 |  |  | $ | — |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited or expired |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at June 30, 2024 |  |  | 1,405,000 |  |  | $ | 1.05 |  |  |  | 1.06 |  |  | $ | — |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited or expired |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at September 30, 2024 |  |  | 1,405,000 |  |  | $ | 1.05 |  |  |  | 0.80 |  |  | $ | — |
Exercisable at September 30, 2024 |  |  | 946,664 |  |  | $ | 1.05 |  |  |  | 0.88 |  |  | $ | — |
A summary of the status of Paramount’s non-vested options at September 30, 2024 is presented below:
Non-vested Options |  | Options |  |  | Weighted- Average Grant- Date Fair Value |
Non-vested at June 30, 2023 |  |  | 458,336 |  |  | $ | 0.47 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | — |  |  |  | — |
Forfeited or expired |  |  | — |  |  |  | — |
Non-vested at June 30, 2024 |  |  | 458,336 |  |  | $ | 0.47 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | — |  |  |  | — |
Forfeited or expired |  |  | — |  |  |  | — |
Non-vested at September 30, 2024 |  |  | 458,336 |  |  | $ | 0.47 |
As of September 30, 2024, there was approximately $2,077 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 0.60 years. The total fair value of stock based compensation that vested related to outstanding stock options during the three months ended September 30, 2024 and 2023, was nil 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 September 30, 2024 and 2023, there were no RSUs granted by the Company. For the three months ended September 30, 2024, share-based compensation expenses related to service condition RSUs and performance condition RSUs was $32,828 and $28,178, respectively (2023 - $43,493 and $21,627). 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, 2023 |  |  | 980,500 |  |  | $ | 0.43 |
Granted |  |  | 1,360,000 |  |  |  | 0.28 |
Vested |  |  | (615,500 | ) |  |  | 0.42 |
Forfeited |  |  | — |  |  |  | — |
Outstanding at June 30, 2024 |  |  | 1,725,000 |  |  | $ | 0.31 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |
Outstanding at September 30, 2024 |  |  | 1,725,000 |  |  | $ | 0.31 |
As of September 30, 2024, there was approximately $189,215 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 1.13 years.

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