STOCK OPTIONS (Notes)

3 Months Ended

Sep. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Options

STOCK OPTIONS

The Company recognizes stock-based compensation expense for options granted under both the 1990 Flexible Incentive Plan and the 2012 Omnibus Incentive Plan. The stock-based compensation relates to stock options granted to employees and non-employee directors. In the three months ended September 30, 2018, options to purchase 535,000 shares were granted under the 2012 Omnibus Incentive Plan at a weighted average exercise price of $2.81. In the three months ended September 30, 2017, options to purchase 490,000 shares were granted under the 2012 Omnibus Incentive Plan at a weighted average exercise price of $1.89. Stock-based compensation expense during the three months ended September 30, 2018 was $96,801. Stock-based compensation expense during the three months ended September 30, 2017 was $83,041.