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Equity-Based Compensation (Tables)
 6 Months Ended
Dec. 31, 2019
Summary of Activity Related to Non-Vested Restricted Stock Units A summary of activity related to non-vested restricted stock units is presented below:

 

 

 

Number of Nonvested

Restricted Stock Units

 

 

Weighted-Average

Grant Date Fair Value

 

 

Weighted-Average

Remaining Contractual

Life (Years)

 

Nonvested restricted units outstanding at June 30, 2018

 

 

89,193

 

 

$

3.98

 

 

 

1.1

 

Granted

 

 

175,758

 

 

 

2.69

 

 

 

2.8

 

Vested

 

 

(107,747

)

 

 

3.75

 

 

 

—

 

Forfeited

 

 

—

 

 

 

—

 

 

 

—

 

Nonvested restricted units outstanding at June 30, 2019

 

 

157,204

 

 

 

2.69

 

 

 

1.4

 

Granted

 

 

217,943

 

 

 

2.36

 

 

 

2.8

 

Vested

 

 

(28,860

)

 

 

3.26

 

 

 

—

 

Forfeited

 

 

—

 

 

 

—

 

 

 

—

 

Nonvested restricted units outstanding at December 31, 2019

 

 

346,287

 

 

$

2.43

 

 

 

2.4

 

 
Stock Options  
Schedule of Weighted Average Assumptions Used in Black-Scholes-Merton Model

Weighted average assumptions used in the Black-Scholes-Merton model are set forth below:

 

 

 

December 31,

 

 

 

2019

 

 

2018

 

Risk free rate

 

1.5 - 1.6%

 

 

2.7% - 3.0%

 

Dividend yield

 

 

0

%

 

 

0

%

Volatility

 

39.4% - 44.2%

 

 

40.4% - 45.5%

 

Average forfeiture assumptions

 

2.7%

 

 

 

1.4

%
Summary of Stock Option Activity

A summary of stock option activity for the six months ended December 31, 2019 and the year ended June 30, 2019 is presented below:

 

 

 

Number

Outstanding

 

 

Weighted -

Average

Exercise

Price

Per Share

 

 

Weighted-

Average

Remaining

Contractual

Life (Years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding at June 30, 2018

 

 

792,074

 

 

$

4.55

 

 

 

6.3

 

 

$

10,413

 

Granted

 

 

497,178

 

 

 

2.85

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Canceled/forfeited/expired

 

 

(166,500

)

 

 

6.17

 

 

 

—

 

 

 

—

 

Outstanding at June 30, 2019

 

 

1,122,752

 

 

 

3.55

 

 

 

8.0

 

 

 

34,135

 

Granted

 

 

1,869,934

 

 

 

2.37

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Canceled/forfeited/expired

 

 

(110,284

)

 

 

3.95

 

 

 

—

 

 

 

—

 

Outstanding at December 31, 2019

 

 

2,882,402

 

 

 

2.74

 

 

 

9.1

 

 

 

—

 

Options vested and exercisable at December 31, 2019

 

 

622,689

 

 

 

3.80

 

 

 

7.1

 

 

 

—

 

Options vested and expected to vest as of

   December 31, 2019

 

 

2,877,095

 

 

$

2.74

 

 

 

9.1

 

 

$

—