| Schedule of stock-based compensation expense |
The
Company recorded stock-based compensation expense for the shares issued to consultants that have vested, which is a component
of operating expenses in the Consolidated Statement of Operations as follows:
| |
|
|
|
|
|
Stock-Based
Compensation |
|
| |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
For
the Year Ended |
|
| Month
of Original Grant |
|
|
Shares
Issued |
|
|
June
30,
2017 |
|
|
June
30,
2016 |
|
| December
2015 |
|
|
|
230,000 |
|
|
$ |
945,189 |
|
|
$ |
342,811 |
|
| March 2016 |
|
|
|
60,000 |
|
|
|
261,214 |
|
|
|
71,786 |
|
| August 2016 |
|
|
|
40,000 |
|
|
|
147,600 |
|
|
|
— |
|
| January 2017 |
|
|
|
50,000 |
|
|
|
194,776 |
|
|
|
— |
|
| |
|
|
|
380,000 |
|
|
$ |
1,548,779 |
|
|
$ |
414,597 |
|
|
| Schedule of the option activity |
The
following is a summary of the option activity:
| |
|
|
Options |
|
|
Weighted
Average
Exercise
Price |
|
| Outstanding
– July 1, 2015 |
|
|
|
160,000 |
|
|
$ |
1.50 |
|
| Exercisable
– July 1, 2015 |
|
|
|
— |
|
|
$ |
— |
|
| Granted |
|
|
|
— |
|
|
|
— |
|
| Exercised |
|
|
|
— |
|
|
|
— |
|
| Forfeited/Cancelled |
|
|
|
— |
|
|
|
— |
|
| Outstanding
– June 30, 2016 |
|
|
|
160,000 |
|
|
|
1.50 |
|
| Exercisable
– June 30, 2016 |
|
|
|
40,000 |
|
|
|
1.50 |
|
| Granted |
|
|
|
— |
|
|
|
— |
|
| Exercised |
|
|
|
— |
|
|
|
— |
|
| Forfeited/Cancelled |
|
|
|
— |
|
|
|
— |
|
| Outstanding
– June 30, 2017 |
|
|
|
160,000 |
|
|
$ |
1.50 |
|
| Exercisable
– June 30, 2017 |
|
|
|
80,000 |
|
|
$ |
1.50 |
|
| Schedule of resricted shares |
The
following is a summary of restricted shares:
| Grant Date |
|
Shares
Issued |
|
|
Fair
Value (1) |
|
|
Shares
Vested |
|
| June 2014 |
|
|
307,876 |
|
|
$ |
1,294,029 |
|
|
|
121,530 |
|
| July 2014 |
|
|
32,408 |
|
|
|
48,612 |
|
|
|
23,791 |
|
| August 2014 |
|
|
81,020 |
|
|
|
326,323 |
|
|
|
8,102 |
|
| September 2014 |
|
|
129,633 |
|
|
|
352,282 |
|
|
|
13,667 |
|
| March 2015 |
|
|
72,918 |
|
|
|
401,717 |
|
|
|
— |
|
| October 2015 |
|
|
293,000 |
|
|
|
439,500 |
|
|
|
— |
|
| November 2015 |
|
|
36,200 |
|
|
|
54,300 |
|
|
|
— |
|
| December 2015 |
|
|
300,000 |
|
|
|
1,393,000 |
|
|
|
230,000 |
|
| January 2016 |
|
|
40,000 |
|
|
|
68,000 |
|
|
|
— |
|
| March 2016 |
|
|
60,000 |
|
|
|
333,000 |
|
|
|
60,000 |
|
| June 2016 |
|
|
118,000 |
|
|
|
535,809 |
|
|
|
— |
|
| August 2016 |
|
|
351,000 |
|
|
|
1,489,247 |
|
|
|
40,000 |
|
| January 2017 |
|
|
192,000 |
|
|
|
1,165,122 |
|
|
|
— |
|
| February 2017 |
|
|
110,000 |
|
|
|
697,500 |
|
|
|
— |
|
| March 2017 |
|
|
20,000 |
|
|
|
135,000 |
|
|
|
— |
|
| |
|
|
2,144,055 |
|
|
$ |
8,733,441 |
|
|
|
497,090 |
|
| (1) |
–
The fair value of the restricted stock awards as shown above is based on either the balance sheet date for consultants or
grant date for employees. |
|