v3.26.1
Capital Stock
 9 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Capital Stock

Note 5. Capital Stock

Authorized Capital

Authorized capital stock consists of 200,000,000 common shares with par value of $0.01 per common share as of March 31, 2026 (June 30, 2025 – 200,000,000 common shares with par value $0.01 per common share).

For the three months ended March 31, 2026, the Company issued 5,931,747 shares of common stock from its ATM program for net proceeds of $11,199,550 and issued 236,801 shares of common stock for payment of interest accrued on its outstanding Royalty Convertible Debenture (Note 6) with a fair value of $375,000.

For the three months ended March 31, 2025, the Company issued 906,257 shares of common stock from its ATM program for net proceeds of $335,336 and issued 1,068,745 shares of common stock for payment of interest accrued (Note 6) with a fair value of $375,000.

For the nine months ended March 31, 2026, the Company issued 8,785,663 shares of common stock from its ATM program for net proceeds of $13,914,027 and issued 948,863 shares of common stock for payment of interest accrued on its outstanding Royalty Convertible Debenture (Note 6) with a fair value of $1,141,666.

For the nine months ended March 31, 2025, the Company issued 1,158,309 shares of common stock from its ATM program for net proceeds of $439,564 and issued 3,194,162 shares of common stock for payment of interest accrued on its outstanding Royalty Convertible Debenture (Note 6) with a fair value of $1,141,668.

Stock Options, Restricted Stock Units and Stock Based Compensation

Paramount’s 2015 and 2016 Stock Incentive and Compensation Plans, which are stockholder-approved, permits the grant of stock options, restricted stock units and stock to its employees and directors for up to 7.5 million shares of common stock.

Total stock-based compensation and capital issued for exercise of stock options , or vesting of RSUs and restricted stock for the three months ended March 31, 2026 and 2025 were $163,147 and $402,036, respectively.

Total stock-based compensation and capital issued for exercise of stock options , or vesting of RSUs and restricted stock for the nine months ended March 31, 2026 and 2025 were $343,675 and $524,692, respectively.

Restricted Stock

During the three and nine months ended March 31, 2026 and 2025, the Company granted and issued 70,000 and 90,000 restricted shares of common stock under its equity compensation plan with a fair value of $83,999 and $31,860, respectively.

Stock Options

Stock option awards are generally granted with an exercise price equal to the market price of Paramount’s stock at the date of grant and have contractual lives of 5 years. To better align the interests of its key executives, employees and directors, with those of its shareholders, a significant portion of those share option awards will vest contingent upon meeting certain stock price appreciation performance goals and other performance conditions. Option and share awards provide for accelerated vesting if there is a change in control of the Company (as defined in the Stock Incentive and Compensation Plans).

For the three and nine months ended March 31, 2026 and 2025, the Company did not grant any stock options.

 

A summary of stock option activity under the Stock Incentive and Compensation Plans as of March 31, 2026 is presented below:

Options

 

Options

 

 

Weighted
Average
Exercise Price

 

 

Weighted-
Average Remaining
Contractual Term (Years)

 

 

Aggregate
Intrinsic Value

 

Outstanding at June 30, 2024

 

 

1,405,000

 

 

$

1.05

 

 

 

1.06

 

 

$

—

 

Granted

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Forfeited or expired

 

 

(640,000

)

 

 

1.00

 

 

 

—

 

 

 

—

 

Outstanding at June 30, 2025

 

 

765,000

 

 

$

1.09

 

 

 

0.54

 

 

$

650

 

Granted

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Exercised

 

 

(485,000

)

 

 

1.12

 

 

 

—

 

 

 

—

 

Forfeited or expired

 

 

(230,000

)

 

 

1.15

 

 

 

—

 

 

 

—

 

Outstanding at March 31, 2026

 

 

50,000

 

 

$

0.60

 

 

 

1.00

 

 

$

83,000

 

Exercisable at March 31, 2026

 

 

50,000

 

 

$

0.60

 

 

 

1.00

 

 

$

83,000

 

 

A summary of the status of Paramount’s non-vested options at March 31, 2026 is presented below:

 

Non-vested Options

 

Options

 

 

Weighted-
Average Grant-
Date Fair Value

 

Non-vested at June 30, 2024

 

 

458,336

 

 

$

0.47

 

Granted

 

 

—

 

 

 

—

 

Vested

 

 

(50,000

)

 

 

0.56

 

Forfeited or expired

 

 

(247,500

)

 

 

0.39

 

Non-vested at June 30, 2025

 

 

160,836

 

 

$

0.57

 

Granted

 

 

—

 

 

 

—

 

Vested

 

 

(125,000

)

 

 

0.56

 

Forfeited or expired

 

 

(35,836

)

 

 

0.62

 

Non-vested at March 31, 2026

 

 

—

 

 

$

—

 

 

Restricted Stock Units ("RSUs")

RSUs are awards for service and performance which upon vesting and settlement entitle the recipient to receive one common share of the Company's Common Stock for no additional consideration, for each RSU held.

During the three months ended March 31, 2026 and 2025, the Company granted nil and 1,058,000 RSUs, respectively.

For the nine months ended March 31, 2026 and 2025, the Company granted 539,400 and 1,058,000 RSUs, respectively.

For the three months ended March 31, 2026, share-based compensation expenses related to service condition RSUs and performance condition RSUs was $31,003 and $132,144, respectively (2025 - $390,183 and $(20,938)).

For the nine months ended March 31, 2026, share-based compensation expenses related to service condition RSUs and performance condition RSUs was $62,761 and $196,915, respectively (2025 -$455,839 and $33,665).

A summary of RSUs activity is summarized as follows:

 

Restricted Share Unit Activity

 

Outstanding RSUs

 

 

Weighted average grant date fair value

 

Outstanding at June 30, 2024

 

 

1,725,000

 

 

$

0.31

 

Granted

 

 

1,058,000

 

 

 

0.35

 

Vested

 

 

(1,713,000

)

 

 

0.35

 

Forfeited

 

 

(225,000

)

 

 

0.22

 

Outstanding at June 30, 2025

 

 

845,000

 

 

$

0.37

 

Granted

 

 

539,400

 

 

 

1.13

 

Vested

 

 

(540,000

)

 

 

0.39

 

Forfeited

 

 

—

 

 

 

—

 

Outstanding at March 31, 2026

 

 

844,400

 

 

$

0.85

 

 

As of March 31, 2026, there was approximately $432,605 of unamortized stock-based compensation expense related to outstanding RSUs. This expense is expected to be recognized over the remaining weighted-average vesting periods of approximately 1.35 years.