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STOCK OPTIONS (Tables)
9 Months Ended
Mar. 31, 2021
Fair value weighted average assumptions
 

Nine Months Ended

March 31,

 
  2021     2020  
Expected volatility   45.38% to 81.97%       45.38% to 65.49%  
Risk-free interest rate   0.14% to 2.35%       0.30% to 2.35%  
Expected life (years)   0.25 -4.51       2.5-3.25  
2017 Employee Plan  
Option activities

A summary of option activities under the 2017 Employee Plan during the nine months period ended March 31, 2021 is presented as follows:

 

    Options    

Weighted Average

Exercise

Price

   

Weighted Average Remaining

Contractual

Term (Years)

   

Aggregate

Intrinsic

Value

 
                         
Outstanding at July 1, 2020     196,000     $ 3.92       3.72     $ 36.00  
Granted     71,000       5.03       -       -  
Exercised     -       -       -       -  
Forfeited or expired     -       -       -       -  
Outstanding at March 31, 2021     267,000     $ 4.21       3.47     $ 210.40  
Exercisable at March 31, 2021     149,750     $ 4.46       2.99     $ 106.07  

 

A summary of option activities under the 2017 Employee Plan during the nine months period ended March 31, 2020 is presented as follows:

 

    Options    

Weighted Average

Exercise

Price

   

Weighted Average Remaining

Contractual

Term (Years)

   

Aggregate

Intrinsic

Value

 
                         
Outstanding at July 1, 2019     136,000     $ 4.53       4.28     $ -  
Granted     60,000       2.53       4.98       -  
Exercised     -       -       -       -  
Forfeited or expired     -       -       -       -  
Outstanding at March 31, 2020     196,000     $ 3.91       3.97     $ 9.6  
Exercisable at March 31, 2020     83,000     $ 4.65       3.60     $ 2.4  

 

 

Company's non-vested employee stock options

A summary of the status of the Company’s non-vested employee stock options during the nine months ended March 31, 2021 is presented below:

 

    Options    

Weighted Average Grant-Date

Fair Value

 
             
Non-vested at July 1, 2020     98,000     $ 3.39  
Granted     71,000       -  
Vested     (51,750 )     -  
Forfeited     -       -  
Non-vested at March 31, 2021     117,250     $ 3.90  

 

A summary of the status of the Company’s non-vested employee stock options during the nine months ended March 31, 2020 is presented below:

 

    Options    

Weighted Average Grant-Date

Fair Value

 
             
Non-vested at July 1, 2019     87,000     $ 4.28  
Granted     60,000       2.53  
Vested     (34,000 )     4.19  
Forfeited     -       -  
Non-vested at March 31, 2020     113,000     $ 3.37  

 

 

2007 Employee Plan  
Option activities

A summary of option activities under the 2007 Employee Plan during the nine months ended March 31, 2021 is presented as follows:

 

    Options    

Weighted Average

Exercise

Price

   

Weighted Average Remaining

Contractual

Term (Years)

   

Aggregate

Intrinsic

Value

 
Outstanding at July 1, 2020     77,500     $ 3.69       1.22     $ -  
Granted     -       -       -       -  
Exercised     (40,000 )     3.26       -       -  
Forfeited or expired     -       -       -       -  
Outstanding at March 31, 2021     37,500     $ 4.14       0.99     $ 13.13  
Exercisable at March 31, 2021     37,500     $ 4.14       0.99     $ 13.13  

 

A summary of the status of the Company’s non-vested employee stock options under the 2007 Employee Plan during the nine months ended March 31, 2020 is presented below:

 

    Options    

Weighted Average Grant-Date

Fair Value

 
             
Non-vested at July 1, 2019     9,375     $ 4.14  
Granted     -       -  
Vested     (9,375 )     -  
Forfeited     -       -  
Non-vested at March 31, 2020     -     $ -  

 

 

Company's non-vested employee stock options
    Options    

Weighted Average

Exercise

Price

   

Weighted Average Remaining

Contractual

Term (Years)

   

Aggregate

Intrinsic

Value

 
                         
Outstanding at July 1, 2019     77,500     $ 3.69       2.22     $ -  
Granted     -       -       -       -  
Exercised     -       -       -       -  
Forfeited or expired     -       -       -       -  
Outstanding at March 31, 2020     77,500       3.69       1.46       -  
Exercisable at March 31, 2020     77,500     $ 3.69       1.46     $ -  
Directors 2017 Equity Incentive Plan  
Option activities

A summary of option activities under the 2017 Directors Plan during the nine months ended March 31, 2021 is presented as follows:

 

    Options    

Weighted Average

Exercise

Price

   

Weighted Average Remaining

Contractual

Term (Years)

   

Aggregate

Intrinsic

Value

 
                         
Outstanding at July 1, 2020     240,000     $ 3.93       3.75     $ 48.00  
Granted     80,000       5.27       4.89       -  
Exercised     -       -       -       -  
Forfeited or expired     -       -       -       -  
Outstanding at March 31, 2021     320,000     $ 4.27       3.47     $ 253.6  
Exercisable at March 31, 2021     320,000     $ 4.27       3.47     $ 253.6  

 

A summary of option activities under the 2017 Directors Plan during the nine months ended March 31, 2020 is presented as follows: 

 

    Options    

Weighted Average

Exercise

Price

   

Weighted Average Remaining

Contractual

Term (Years)

   

Aggregate

Intrinsic

Value

 
                         
Outstanding at July 1, 2019     160,000     $ 4.63       4.25     $ -  
Granted     80,000       2.53       4.98       -  
Exercised     -       -       -       -  
Forfeited or expired     -       -       -       -  
Outstanding at March 31, 2020     240,000     $ 3.93       4.00     $ 12.80  
Exercisable at March 31, 2020     240,000     $ 3.93       4.00     $ 12.80  

 

2007 Directors Equity Incentive Plan  
Option activities

A summary of option activities under the 2007 Directors Plan during the nine months ended March 31, 2021 is presented as follows:

 

    Options    

Weighted Average

Exercise

Price

   

Weighted

Average

Remaining

Contractual

Term (Years)

   

Aggregate

Intrinsic

Value

 
                         
Outstanding at July 1, 2020     250,000     $ 3.32       0.83     $ 22.00  
Granted     -       -       -       -  
Exercised     (200,000 )     3.12       -       -  
Forfeited or expired     -       -       -       -  
Outstanding at March 31, 2021     50,000     $ 4.14       0.99     $ 17.50  
Exercisable at March 31, 2021     50,000     $ 4.14       0.99     $ 17.50  

 

A summary of option activities under the 2007 Directors Plan during the six months ended March 31, 2020 is presented as follows: 

 

    Options    

Weighted Average

Exercise

Price

   

Weighted

Average

Remaining

Contractual

Term (Years)

   

Aggregate

Intrinsic

Value

 
                         
Outstanding at July 1, 2019     300,000     $ 3.40       1.58     $ 9.50  
Granted     -       -       -       -  
Exercised     -       -       -       -  
Forfeited or expired     (50,000 )     (3.81 )     -       -  
Outstanding at March 31, 2020     250,000       3.32       1.08       -  
Exercisable at March 31, 2020     250,000     $ 3.32       1.08     $ -