Stockholders' Equity (Tables)

12 Months Ended

Jun. 30, 2017

Equity [Abstract]

Schedule of stock-based compensation expense

he 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 Black-Scholes option pricing model with weighted average assumptions

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	1.29	%
Volatility	47	%
Dividend yield	0	%

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