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INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN | 9 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN | NOTE 15 – INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN Common stock purchase options consisted of the following: OPTIONS: SCHEDULE OF COMMON STOCK PURCHASE OPTIONS
|  | # of shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Aggregate Intrinsic Value |
Outstanding and exercisable, June 30, 2023 |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |
Granted |  |  | 250,000 |  |  | $ | 2.15 |  |  |  | 0.74 |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |
Expired / Cancelled |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |
Outstanding and exercisable, March 31, 2024 |  |  | 250,000 |  |  | $ | 2.15 |  |  |  | 0.74 |  |  | $ | 155,000 |
The aggregate intrinsic value at March 31, 2024 represents the difference between the Company’s closing stock price of $2.77 on March 31, 2024 and the exercise price of the in-the-money stock options. NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2024 (Unaudited) The following table summarizes information about stock options outstanding and exercisable at March 31, 2024. SUMMARY OF STOCK OPTIONS OUTSTANDING
Exercise Price |  | Number Outstanding and Exercisable |  |  | Weighted Average Remaining Contractual Life |  |  | Weighted Average Exercise Price |
OPTIONS: |  |  |  |  |  |  |  |  |  |  |  |
$2.15 |  |  | 250,000 |  |  |  | 0.74 |  |  | $ | 2.15 |
$2.15 |  |  | 250,000 |  |  |  | 0.74 |  |  | $ | 2.15 |
Totals |  |  | 250,000 |  |  |  | 0.74 |  |  | $ | 2.15 |
OPTIONS During the nine months ended March 31, 2024, the Company granted 250,000 options to officers and employees with an exercise price of $2.15 per share, an expiration date of one year, and immediate vesting. Using the Black-Scholes method to value the options, the Company recorded $101,424 in compensation expense for 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:
| ● | Risk-free interest rate - 5.24%
| ● | Expected life – 6 months
| ● | Expected volatility – 63.6%
| ● | Expected dividend - 0%

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