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Stock-Based Compensation
 3 Months Ended
Sep. 30, 2025
Stock-Based Compensation [Abstract]  
Stock-Based Compensation

Note 3 - Stock-Based Compensation

 

The Company’s Equity Incentive Plan (the “Plan”) permits the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, and deferred stock units to officers, employees, directors, consultants, agents, and independent contractors of the Company. The Company believes that such awards align the interests of its employees, directors, and consultants with those of its stockholders.

 

Options

 

No options were granted for the three months ended September 30, 2025 or 2024. As of September 30, 2025, there were approximately $291,534 of total unrecognized compensation costs for employees and non-employees related to nonvested options. These costs are expected to be recognized through May 2029.

 

A summary of options terminated, as well as those that vested, during the three months ended September 30, 2025 is presented below:

 

Options  Number of
Shares		   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term
(in years)		 
Outstanding at July 1, 2025   172,477   $21.08    4.9 
Terminated/Expired   (6,125)   2.32    7.4 
Additional vesting   
-
    
-
    
-
 
Outstanding and vested at September 30, 2025   166,352   $22.26    4.4 

 

A summary of options terminated, as well as those that vested, during the three months ended September 30, 2024 is presented below: 

 

Options  Number of
Shares		   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term
(in years)		 
Outstanding at July 1, 2024   235,219   $22.05    5.5 
Terminated/Expired   
-
    
-
    
-
 
Additional vesting   3,577    9.50    8.2 
Outstanding and vested at September 30, 2024   238,796   $20.96    5.3 

Warrants

 

A summary of warrant activity during the three months ended September 30, 2025 and 2024 is presented below:

 

Warrants  Number of
Shares		   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term
(in years)		 
Outstanding at July 1, 2025   429,061   $11.03    2.7 
Expired   (12,500)   72.00    - 
Additional issuances   
-
    
-
    - 
                
Outstanding at September 30, 2025   416,561   $9.20    2.4 
                
Outstanding at July 1, 2024   397,781   $12.85    3.6 
Expired   
-
    
-
    - 
Additional issuances   
-
    
-
    - 
Outstanding and vested at September 30, 2024   397,781   $12.85    3.4 

 

Board of Directors: Deferred Stock Units and Restricted Stock Units

 

For the three months ended September 30, 2025, $52,375 in deferred stock units were awarded. For the three months ended September 30, 2024, $62,500 in deferred stock units were awarded and $13,875 in cash compensation was paid.

 

A summary of deferred stock units terminated/settled, as well as those that vested, during the three months ended September 30, 2025 and 2024 is presented below:

 

       Weighted
Average		 
   Number of   Exercise 
   Shares   Price 
         
Outstanding July 1, 2025   190,007   $2.84 
Issued   17,172    3.05 
Terminated/Settled   
-
    
-
 
Outstanding September 30, 2025   207,179   $2.86 
           
Outstanding July 1, 2024   207,342   $3.64 
Issued   25,510    2.45 
Terminated/Settled   
-
    
-
 
Outstanding September 30, 2024   232,852   $3.51 

 

Note: the weighed average remaining contractual term is not applicable since these do not vest until the director leaves service.

 

As of September 30, 2025, the Company has 354,396 shares of common stock available for granting under the Plan.

 

On September 29, 2021, the Board instituted annual restricted stock units (RSU) for directors in the amount of $100,000 per director. These restricted stock units vest on their one year anniversary if the director served the entire year. During the fiscal year ended June 30, 2025, the Company issued the vested RSUs from 2022 and 2024. The calendar year 2023 RSUs were not formally granted so common stock was issued under similar terms to the directors in fiscal year ended June 30, 2025.

A summary of restricted stock units terminated, as well as those that vested, during the three months ended September 30, 2025 and 2024 is presented below:

 

       Weighted
Average		   Weighted 
   Number of   Exercise   Average 
   Shares   Price   Term (Yrs) 
             
Outstanding, July 1, 2025   165,288   $2.42    0.68 
Issued   
-
    
-
    0.00 
Settled   
-
    
-
    0.00 
Outstanding, September 30, 2025   165,288   $2.42    0.43 
                
Outstanding, July 1, 2024   307,500   $3.90    0.00 
Issued   
-
    
-
    0.00 
Settled   
-
    
-
    0.00 
Outstanding, September 30, 2024   307,500   $3.90    0.00