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Incentive and Non-statutory Stock Option Plan | 9 Months Ended
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Mar. 31, 2019
Share-based Payment Arrangement [Abstract] |
Incentive and Non-statutory Stock Option Plan | NOTE 17 - INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN Common stock purchase options consisted of the following: OPTIONS:
|  | # of shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Aggregated Intrinsic Value |
Outstanding and exercisable, June 30, 2018 |  |  | 53,462 |  |  | $ | 6.50 |  |  |  | 0.61 |  |  | $ | - |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | (13,076 | ) |  | $ | 6.50 |  |  |  |  |  |  |  |  |
Expired / Cancelled |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding and exercisable, March 31, 2019 |  |  | 40,386 |  |  | $ | 6.50 |  |  |  | 0.85 |  |  | $ | - |
The following table summarizes information about stock options outstanding and exercisable at March 31, 2019.
Exercise Price |  |  | Number Outstanding and Exercisable |  |  | Weighted Average Remaining Contractual Life |  |  | Weighted Average Exercise Price |
OPTIONS: |  |  |  |  |  |  |  |  |  |  |  |  |
$6.50 |  |  |  | 40,386 |  |  |  | 0.85 |  |  | $ | 6.50 |
Totals |  |  |  | 40,386 |  |  |  | 0.85 |  |  | $ | 6.50 |
During the nine months ended March 31, 2019, the Company extended the life of 40,386 options with an exercise price of $6.50, for a period of one year. The Company recorded $43,612 in compensation expense for the extension of these options in the accompanying condensed consolidated financial statements. The fair market value was calculated using the Black-Scholes option pricing model with the following assumptions:
|  | March 31, 2019 |
Risk-free interest rate |  |  | 2.56 | %
Expected life |  |  | 1 year |
Expected volatility |  |  | 45 | %
Expected dividend |  |  | 0 | %
The following table summarizes stock grants awarded as compensation:
|  | # of shares |  |  | Weighted Average Grant Date Fair Value ($) |
Unvested, June 30, 2018 |  |  | 155,648 |  |  | $ | 6.07 |
Granted |  |  | 112,276 |  |  | $ | 5.73 |
Vested |  |  | (157,511 | ) |  | $ | 6.05 |
Unvested, March 31, 2019 |  |  | 110,413 |  |  | $ | 5.88 |
For the three and nine months ended March 31, 2019, the Company recorded compensation expense of $110,939 and $980,682, respectively. For the three and nine months ended March 31, 2018, the Company recorded compensation expense of $448,221 and $1,281,751, respectively. The compensation expense related to the unvested stock grants as of March 31, 2019 was $593,480 which will be recognized during the fiscal years 2019 through 2022.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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