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Stockholders’ Equity
 3 Months Ended
Sep. 30, 2025
Stockholders’ Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 12 – STOCKHOLDERS’ EQUITY

 

Common Stock

 

There were no shares of common stock issued during the quarter ended September 30, 2025 and September 30, 2024.

   

As of September 30, 2025, there were 16,116,914 shares issued and 15,769,434 shares outstanding, compared to 16,116,914 shares issued and 15,770,934 shares outstanding as of June 30, 2025. 

Preferred Stock

 

Under the Company’s Articles of Incorporation, the Board has the authority, without further action by stockholders, to designate up to 20,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges, qualifications and restrictions granted to or imposed upon the preferred stock, including dividend rights, conversion rights, voting rights, rights and terms of redemption, liquidation preference and sinking fund terms, any or all of which may be greater than the rights of the common stock. If the Company sells preferred stock under its registration statement on Form S-3, it will fix the rights, preferences, privileges, qualifications and restrictions of the preferred stock of each series in the certificate of designation relating to that series and will file the certificate of designation that describes the terms of the series of preferred stock the Company offers before the issuance of the related series of preferred stock.

 

As of September 30, 2025, the Company has 20,000,000 shares of preferred stock authorized, with a par value of $.001 per share, of which no shares are issued or outstanding.

 

Share Repurchase Program

 

On January 21, 2025, the Board of Directors of the Company approved a share repurchase program authorizing up to 2,000,000 shares of its common stock, at a price not exceeding $3.00 per share. The Plan is designed to enhance shareholder value, optimize the Company’s capital structure, utilize excess cash in a tax-efficient manner, and signal management’s confidence in the Company’s long-term prospects. Under the plan, the Company may repurchase shares from time to time through open market purchases, privately negotiated transactions, or other methods, in compliance with applicable securities laws.

 

We repurchased the following shares of common stock under the share repurchase program:

 

Period  Total
Number of
Shares
Purchased		   Average
Price Paid
Per Share		   Total
Number of
Shares
Purchased as
Part of
Publicly
Announced
Plans		   Dollar Value 
January 1, 2025 to January 31, 2025  $181,742   $1.03   $181,742   $187,122 
February 1, 2025 to February 28, 2025  $164,238   $1.29   $164,238   $211,404 
September 1, 2025 to September 30, 2025   1,500    0.81    1,500    1,216 
Total  $347,480   $1.15   $347,480   $399,742 

  

During the three months ended September 30, 2025, the Company repurchased 1,500 shares of its common stock under an authorized share repurchase program for $1,216. All repurchases were made using cash resources. All shares repurchased were under the share repurchase program approved on January 21, 2025.

 

During the three months ended September 30, 2024, the Company did not repurchase any common stock.