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5. STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense

The following table summarizes stock-based compensation expense for the three and nine months ended March 31, 2021 and 2020:

		Three Months Ended March 31,								Nine Months Ended March 31,
		2021				2020				2021				2020
Cost of Goods Sold		$	11,233			$	11,233			$	33,699			$	33,699
Research and Development			19,435				21,346				55,795				46,714
Selling, General and Administrative			55,359				42,988				224,758				346,365
Stock Based Compensation Expense		$	86,027			$	75,567			$	314,252			$	426,778

Stock option activity

The following tables summarize stock option activity for the nine months ended March 31, 2021:

			Options Outstanding
			Number of Shares				Weighted Average Exercise Price				Weighted Average Contractual Life
Outstanding at June 30, 2020			2,065,200			$	0.95				6.59 years
Granted			90,000			$	1.47
Exercised			(72,000	)		$	0.39
Cancelled			(5,000	)		$	1.30
Outstanding at March 31, 2021			2,078,200			$	0.99				6.09 years

Stock options outstanding by exercise price range

Information related to the stock options outstanding as of March 31, 2021 is as follows:

Range of Exercise Prices			Number of Shares		Weighted- Average Remaining Contractual Life (years)		Weighted- Average Exercise Price			Exercisable Number of Shares		Exercisable Weighted- Average Exercise Price
$	0.48		60,000		5.00		$	0.48		60,000		$	0.48
$	0.50		100,000		4.22		$	0.50		100,000		$	0.50
$	0.55		40,000		3.17		$	0.55		40,000		$	0.55
$	0.70		100,000		7.35		$	0.70		100,000		$	0.70
$	0.73		758,000		5.61		$	0.73		758,000		$	0.73
$	0.85		6,000		1.76		$	0.85		6,000		$	0.85
$	0.90		36,000		3.19		$	0.90		36,000		$	0.90
$	1.20		200,200		0.92		$	1.20		200,200		$	1.20
$	1.25		45,000		8.97		$	1.25		15,000		$	1.25
$	1.30		473,000		8.20		$	1.30		169,177		$	1.30
$	1.40		70,000		9.64		$	1.40		70,000		$	1.40
$	1.42		100,000		8.45		$	1.42		33,334		$	1.42
$	1.45		5,000		9.94		$	1.45		–		$	–
$	1.50		70,000		8.69		$	1.50		70,000		$	1.50
$	1.795		15,000		9.87		$	1.795		–		$	–
$	0.48–1.795		2,078,200		6.09		$	0.99		1,657,711		$	0.90

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