| Schedule of Restricted Stock Awards |
The
information presented in the following table represents the restricted stock awards, including performance-based awards, granted and outstanding
during the period:
| |
|
Performance-
Based Restricted Shares |
|
|
Service-Based
Restricted Shares |
|
|
Weighted
Average
Grant Date Fair Value |
|
| Beginning balance |
|
|
235,000 |
|
|
|
128,000 |
|
|
|
3.09 |
|
| Granted |
|
|
145,000 |
|
|
|
1,337,680 |
|
|
|
2.82 |
|
| Forfeited |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Vested |
|
|
- |
|
|
|
(1,089,658 |
) |
|
|
3.07 |
|
| Outstanding, unvested grants
at June 30, 2025 |
|
|
380,000 |
|
|
|
376,022 |
|
|
$ |
2.01 |
|
| Granted |
|
|
100,000 |
|
|
|
22,280,254 |
|
|
|
2.07 |
|
| Forfeited |
|
|
- |
|
|
|
(909,621 |
) |
|
|
1.95 |
|
| Vested |
|
|
- |
|
|
|
(14,393,736 |
) |
|
|
2.23 |
|
| Outstanding, unvested grants
at June 30, 2026 |
|
|
480,000 |
|
|
|
7,352,919 |
|
|
$ |
1.05 |
|
|
| Schedule of Fair Value of Stock Options and Warrants |
The
fair value of stock options and warrants was estimated at the date of grant using a Black-Scholes option-pricing model with the following
weighted average assumptions for the years ended June 30, 2026 and 2025:
| |
|
June
30,
2026 |
|
|
June
30,
2025 |
|
| Risk-free interest rate |
|
|
3.61 |
% |
|
|
4.14 |
% |
| Dividend yield |
|
|
0.0 |
% |
|
|
0.0 |
% |
| Expected volatility |
|
|
47.57 |
% |
|
|
47.42 |
% |
| Expected life of awards |
|
|
5.0
years |
|
|
|
4.6
years |
|
| Fair value of awards granted during the year |
|
$ |
2.31 |
|
|
$ |
1.79 |
|
|
| Schedule of Weighted Average Expected Term |
The
weighted average expected term was estimated for options using the average of the vesting term and contractual term of the awards.
| |
|
Warrants |
|
|
Stock
Options |
|
|
Weighted
Average
Remaining
Life (years) |
|
|
Weighted
Average
Exercise
Price |
|
| Outstanding, June 30, 2024 (2,738,472 shares exercisable) |
|
|
87,000 |
|
|
|
3,295,000 |
|
|
|
3.30 |
|
|
$ |
4.17 |
|
| Granted |
|
|
790,509 |
|
|
|
- |
|
|
|
4.76 |
|
|
|
1.54 |
|
| Granted |
|
|
- |
|
|
|
150,000 |
|
|
|
1.93 |
|
|
|
3.73 |
|
| Cancelled |
|
|
- |
|
|
|
(124,205 |
) |
|
|
- |
|
|
|
0.25 |
|
| Forfeited |
|
|
- |
|
|
|
(461,875 |
) |
|
|
- |
|
|
|
3.14 |
|
| Exercised |
|
|
(331,657 |
) |
|
|
(1,875,795 |
) |
|
|
- |
|
|
|
0.40 |
|
| Outstanding, June 30, 2025 (1,242,741 shares
exercisable) |
|
|
546,352 |
|
|
|
983,125 |
|
|
|
3.30 |
|
|
$ |
2.71 |
|
| Granted |
|
|
199,500,480 |
|
|
|
- |
|
|
|
0.32 |
|
|
|
0.09 |
|
| Cancelled |
|
|
(5,306,149 |
) |
|
|
- |
|
|
|
- |
|
|
|
1.36 |
|
| Cancelled |
|
|
- |
|
|
|
(267,953 |
) |
|
|
- |
|
|
|
3.75 |
|
| Exercised |
|
|
- |
|
|
|
(90,172 |
) |
|
|
- |
|
|
|
1.74 |
|
| Exercised |
|
|
(170,344,970 |
) |
|
|
- |
|
|
|
- |
|
|
|
0.003 |
|
| Outstanding, June 30, 2026 (25,006,269 shares exercisable) |
|
|
24,395,713 |
|
|
|
625,000 |
|
|
|
3.28 |
|
|
$ |
0.93 |
|
|