Note 12. Related Party Transactions

Consulting Services

AEG Consulting, a firm owned by one of the Company's Co-Chairmen, received $0 and $10 thousand for consulting fees for the years ended June 30, 2019 and 2018, respectively.

On November 2, 2018, the Company granted the Co-Chairman 5,000 RSUs with a fair value on the grant date of $19 thousand and stock options to purchase 10,000 shares of the Company's common stock with a fair value on the grant date of $25 thousand for consulting services provided by AEG Consulting. Both awards vest in four equal installments on each of the first four anniversaries of the grant date. The options carry an exercise price of $3.78 and have a term of 7 years.

On September 27, 2017, the Company granted the Co-Chairman 5,000 RSUs with a fair value on the grant date of $36 thousand and stock options to purchase 10,000 shares of the Company's common stock with a fair value on the grant date of $47 thousand for consulting services provided by AEG Consulting. Both awards vest in four equal installments on each of the first four anniversaries of the grant date. The options carry an exercise price of $7.12 and have a term of 7 years.

Total stock-based compensation expense related to stock-based awards granted for the Co-Chairman's consulting services was $51 thousand and $26 thousand for the years ended June 30, 2019 and 2018, respectively.

Offering/Private Placement

On November 14, 2017, certain members of the Company's Board of Directors purchased shares of the Company's common stock at a price of $5.50 per share in a private placement. One of the Company's Co-Chairmen purchased 154,545 shares at a price of $5.50 per share for an aggregate purchase price of $850 thousand. The other Co-Chairman purchased 1,818 shares at a price of $5.50 per share for an aggregate purchase price of $10 thousand. Three additional members of the Company's Board of Directors each purchased 5,454 shares at a price of $5.50 per share for an aggregate purchase price of $30 thousand for each such Board member.

On December 1, 2017 a brother of the Company's Chief Executive Officer purchased 12,000 shares of the Company's common stock in a private placement at a price of $5.50 per share for an aggregate purchase price of $66 thousand.