Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.8.0.1
Stockholders' Equity (Tables)
3 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Schedule of stock-based compensation expense

The fair values of the Company’s options were estimated at the dates of grant using a Black-Scholes option pricing model with the following weighted average assumptions:

 

Expected term (years)     6.25  
Risk-free interest rate     1.72 %
Volatility     88 %
Dividend yield     0 %
Schedule of option activity

The following is a summary of the option activity:

 

      Options    

Weighted 

Average 

Exercise 

Price 

 
Outstanding - June 30, 2017       160,000     $ 1.50  
Exercisable - June 30, 2017       80,000     $ 1.50  
Granted       515,000       7.12  
Exercised              
Forfeited/Cancelled              
Outstanding - September 30, 2017       675,000     $ 5.79  
Exercisable - September 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     $ 389,568       121,530  
July 2014     32,408       48,612       36,956  
August 2014     81,020       153,348       24,306  
September 2014     129,633       180,874       15,185  
March 2015     72,918       243,713        
October 2015     293,000       411,000        
November 2015     36,200       42,150        
December 2015     300,000       105,000       230,000  
January 2016     40,000       68,000        
March 2016     60,000             60,000  
June 2016     118,000       512,990        
August 2016     351,000       1,179,274       40,000  
January 2017     192,000       973,675       50,000  
February 2017     110,000       697,500        
March 2017     20,000              
July 2017     100,000       745,000        
      2,244,055     $ 5,750,704       577,977  

 

(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.