v3.26.1
Stock-Based Compensation
 9 Months Ended
Mar. 31, 2026
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 nine months ended March 31, 2026 or 2025. As of March 31, 2026, there were approximately $251,780 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 March 31, 2026 is presented below:

  

Options  Number of
Shares		   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term
(in years)		 
Outstanding at January 1, 2026   290,692   $14.04    6.4 
Granted   
-
    
-
    - 
Exercised   
-
    
-
    - 
Forfeited/cancelled   
-
    
-
    - 
Expired   
-
    
-
    - 
Outstanding at March 31, 2026   290,692   $14.04    6.2 
Exercisable at March 31, 2026   166,942   $22.19    3.9 

 

A summary of options terminated, as well as those that vested, during the nine months ended March 31, 2026 is presented below:

  

Options  Number of
Shares		   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term
(in years)		 
Outstanding at July 1, 2025   296,817   $13.80    6.9 
Granted   
-
    
-
    - 
Exercised   
-
    
-
    - 
Forfeited/cancelled   (6,125)   2.32    7.4 
Expired   
-
    
-
    - 
Outstanding at March 31, 2026   290,692   $14.04    6.2 
Exercisable at March 31, 2026   166,942   $22.19    3.9 

A summary of options terminated, as well as those that vested, during the three months ended March 31, 2025 is presented below:

 

Options  Number of
Shares		   Weighted Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term
(in years)		 
Outstanding at January 1, 2025   241,128   $20.76    5.1 
Terminated   (69,421)   (19.64)   (2.31)
Additional vesting   3,203    18.53    7.14 
Outstanding and vested at March 31, 2025   174,910   $21.19    5.1 

 

A summary of options terminated, as well as those that vested, during the nine months ended March 31, 2025 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    5.6 
Terminated   (69,421)   (19.64)   (2.31)
Additional vesting   9,112    10.10    4.8 
Outstanding and vested at March 31, 2025   174,910   $21.19    5.1 

 

Warrants

 

A summary of warrant activity during the three months ended March 31, 2026 is presented below:

 

Warrants  Number of
Shares		   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term
(in years)		 
Outstanding at January 1, 2026   416,561   $9.20    2.1 
Expired   
-
    
-
    - 
Additional issuances   
-
    
-
    - 
Outstanding and vested at March 31, 2026   416,561   $9.20    2.1 

A summary of warrant activity during the nine months ended March 31, 2026 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 and vested at March 31, 2026   416,561   $9.20    2.1 

 

A summary of warrant activity during the three months ended March 31, 2025 is presented below:

 

Warrants  Number of
Shares		   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term
(in years)		 
Outstanding at January 1, 2025   383,998   $11.88    1.6 
Expired   
-
    
-
    - 
Additional issuances   45,063    3.75    4.8 
Outstanding and vested at March 31, 2025   429,061   $11.03    3.0 

 

A summary of warrant activity during the nine months ended March 31, 2025 is presented below:

  

Warrants  Number of
Shares		   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term
(in years)		 
Outstanding at July 1, 2024   397,781   $8.25    3.5 
Expired   (13,783)   (19.64)   (0)
Additional issuances   45,063    3.75    4.8 
Outstanding and vested at March 31, 2025   429,061   $11.03    3.0 

Board of Directors: Deferred Stock Units and Restricted Stock Units

 

For the nine months ended March 31, 2026, $157,125 in deferred stock units were awarded. For the nine months ended March 31, 2025, $153,375 in deferred stock units were awarded and $27,750 in cash compensation was paid.

 

A summary of deferred stock units terminated/settled, as well as those that vested, during the nine months ended March 31, 2026 and 2025 is presented below:

 

       Weighted
Average		 
   Number of   Exercise 
   Shares   Price 
Outstanding July 1, 2025   190,007   $2.84 
Issued   73,348    2.12 
Terminated/Settled   
-
    
-
 
Outstanding March 31, 2026   263,355   $2.64 
           
Outstanding July 1, 2024   207,342   $3.64 
Issued   55,258    2.78 
Terminated/Settled   (92,063)   (2.89)
Outstanding March 31, 2025   170,537   $3.31 

 

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

 

As of March 31, 2026, the Company has 361,567 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 nine months ended March 31, 2026 and 2025 is presented below:

 

       Weighted
Average		   Weighted 
   Number of   Exercise   Average 
   Shares   Price   Term 
Outstanding, July 1, 2025   165,288   $2.42    .68 
Issued   199,004    2.01    1.00 
Terminated/Resigned   
-
    
-
    - 
Settled   (165,288)   (2.42)   - 
Outstanding, March 31, 2026   199,004   $2.01    .93 
                
Outstanding, July 1, 2024   307,500   $3.90    - 
Issued   165,288    2.42    1.00 
Terminated/Resigned   (73,260)   (2.73)   - 
Settled   (234,240)   (4.27)   - 
Outstanding, March 31, 2025   165,288   $2.42    .93