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STOCKHOLDERS' EQUITY | 9 Months Ended
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Mar. 31, 2022
Disclosure Text Block Supplement [Abstract] |
Shareholders' Equity and Share-Based Payments [Text Block] | NOTE 7. STOCKHOLDERS’ EQUITY Payment of cash dividends is within the discretion of the Company’s Board of Directors and is dependent on earnings, operations, capital requirements, general financial condition of the Company, and general business conditions. The dividend rate per share was $0.0025 per month for July 2020 through January 2021, $0.0050 per month for February 2021 through September 2021, and $0.0075 per month for October 2021 through March 2022. In March 2022, the Board authorized the continuance of the monthly dividend of $0.0075 per share from April through June 2022, at which time it will be considered for continuation by the Board. The Company has a share repurchase program, approved by the Board of Directors, authorizing the Company to annually purchase up to $5.0 million of its outstanding common shares, as market and business conditions warrant, on the open market in compliance with Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934. The repurchase program has been in place since December 2012, and the Board of Directors has annually renewed the repurchase program each calendar year. The Company announced on February 25, 2022, that the Board of Directors of the Company approved an increase to the limit of its annual share buyback program from $2.75 million to $5.0 million. The acquired shares may be used for corporate purposes, including shares issued to employees in the Company’s stock-based compensation programs. For the three and nine months ended March 31, 2022, the Company repurchased 19,487 and 43,591 class A shares using cash of $97,000 and $233,000, respectively. For the three and nine months ended March 31, 2021, the Company repurchased 19,900 and 35,996 class A shares using cash of $127,000 and $189,000, respectively. The Company’s stock option plans provide for the granting of class A shares as either incentive or nonqualified stock options to employees and non-employee directors. Options are subject to terms and conditions determined by the Compensation Committee of the Board of Directors. At March 31, 2022, there were 231,000 options outstanding and exercisable under the 1989 Plan at a weighted average exercise price of $6.05, and 2,000 options outstanding and exercisable under the 1997 Plan at a weighted average exercise price of $2.74. At March 31, 2021, there were no options outstanding and exercisable under the 1989 Plan, and 2,000 options outstanding and exercisable under the 1997 Plan at a weighted average exercise price of $2.74. There were no options granted, forfeited, or exercised for the three and nine months ended March 31, 2022, or 2021. Stock-based compensation expense is measured at the grant date based on the fair value of the award, and the cost is recognized as expense ratably over the award’s vesting period. For the nine months ended March 31, 2022, $733,000 was recognized as compensation expense. There was no stock-based compensation expense for the three months ended March 31, 2022, or for the three and nine months ended March 31, 2021. As of March 31, 2022, and 2021, there was no unrecognized share-based compensation cost related to share-based awards granted under the plans.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI https://asc.fasb.org/topic&trid=2228938 + Details
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