Stock Option (Tables)

9 Months Ended

Mar. 31, 2022

2012 Employee Stock Option Plan

Stock Option

Schedule of fair value and valuation assumptions

	2022		2021
Risk-free interest rates	1.64	%	n/a	%
Expected lives	6.18 Years		n/a
Expected volatility	43	%	n/a	%
Expected dividend yields	0	%	n/a	%

Schedule of plan activity

	2022				2021
			Weighted average				Weighted average
	Options		exercise price		Options		exercise price
Outstanding, beginning of year		214,080	$	9.59		235,680	$	9.42
Granted		338,000	$	23.17		—		—
Forfeited/Lapsed		—		—		(8,000)	$	4.08
Exercised		(29,000)	$	5.45		(3,600)	$	5.70
Outstanding, end of period		523,080	$	18.59		224,080	$	9.67
Exercisable, end of period		164,776	$	15.01		89,200	$	7.92
Weighted average fair value at grant date of options granted	$	12.16				n/a
Total intrinsic value of options exercised	$	502,000			$	42,000
Total intrinsic value of options outstanding	$	1,903,000			$	1,735,000
Total intrinsic value of options exercisable	$	1,085,000			$	847,000

Schedule of options outstanding

	Options outstanding				Options exercisable
		Weighted average
	Number	remaining	Weighted average		Number	Weighted average
Range of exercise prices	outstanding	contractual life	exercise price		exercisable	exercise price
$2.19 ‑ $24.75	523,080	8.67	$	18.59	164,776	$	15.01
	523,080	8.67	$	18.59	164,776	$	15.01

2012 Non-Employee Stock Option Plan

Stock Option

Schedule of fair value and valuation assumptions

	2022		2021
Risk-free interest rates	1.68	%	n/a	%
Expected lives	6.18 Years		n/a
Expected volatility	43	%	n/a	%
Expected dividend yields	0	%	n/a	%

Schedule of plan activity

	2022				2021
			Weighted average				Weighted average
	Options		exercise price		Options		exercise price
Outstanding, beginning of year		12,000	$	6.55		24,000	$	5.15
Granted		9,600	$	22.93		—		—
Forfeited/Lapsed		—		—		—		—
Exercised		—		—		(2,400)	$	4.35
Outstanding, end of period		21,600	$	13.83		21,600	$	5.23
Exercisable, end of period		12,480	$	8.48		14,640	$	4.57
Weighted average fair value at grant date of options granted	$	12.58				n/a
Total intrinsic value of options exercised		n/a			$	31,000
Total intrinsic value of options outstanding	$	168,000			$	263,000
Total intrinsic value of options exercisable	$	155,000			$	188,000

Schedule of options outstanding

	Options outstanding				Options exercisable
		Weighted average	Weighted			Weighted
	Number	remaining	average exercise		Number	average exercise
Range of exercise prices	outstanding	contractual life	price		exercisable	price
$4.35 - $22.93	21,600	7.78	$	13.83	12,480	$	8.48
	21,600	7.78	$	13.83	12,480	$	8.48

2018 Non-Employee Stock Option Plan

Stock Option

Schedule of fair value and valuation assumptions

	2022		2021
Risk-free interest rates	1.68	%	n/a	%
Expected lives	6.18 Years		n/a
Expected volatility	43	%	n/a	%
Expected dividend yields	0	%	n/a	%

Schedule of plan activity

	2022				2021
			Weighted average				Weighted average
	Options		exercise price		Options		exercise price
Outstanding, beginning of year		70,100	$	11.93		96,800	$	11.74
Granted		23,500	$	22.93		—		—
Forfeited/Lapsed		—		—		—		—
Exercised		(4,600)	$	10.43		(3,200)	$	8.10
Outstanding, end of period		89,000	$	14.91		93,600	$	11.87
Exercisable, end of period		45,040	$	12.98		40,960	$	11.54
Weighted average fair value at grant date of options granted	$	12.58				n/a
Total intrinsic value of options exercised	$	58,000			$	30,000
Total intrinsic value of options outstanding	$	556,000			$	519,000
Total intrinsic value of options exercisable	$	351,000			$	241,000

Schedule of options outstanding

	Options outstanding				Options exercisable
		Weighted average	Weighted			Weighted
	Number	remaining	average exercise		Number	average exercise
Range of exercise prices	outstanding	contractual life	price		exercisable	price
$8.10 - $22.93	89,000	8.00	$	14.91	45,040	$	12.98
	89,000	8.00	$	14.91	45,040	$	12.98

2020 Non-Employee Stock Option Plan

Stock Option

Schedule of fair value and valuation assumptions

	2022		2021
Risk-free interest rates	1.68	%	0.62	%
Expected lives	6.18 Years		10
Expected volatility	43	%	45	%
Expected dividend yields	0	%	0	%

Schedule of plan activity

	2022				2021
			Weighted average				Weighted average
	Options		exercise price		Options		exercise price
Outstanding, beginning of year		10,000	$	11.40		—		—
Granted		16,900	$	22.93		10,000	$	11.40
Forfeited/Lapsed		—		—		—		—
Exercised		—		—		—		—
Outstanding, end of period		26,900	$	18.64		10,000	$	11.40
Exercisable, end of period		7,380	$	16.68		2,000	$	11.40
Weighted average fair value at grant date of options granted	$	12.58			$	6.10
Total intrinsic value of options exercised		n/a				n/a
Total intrinsic value of options outstanding	$	91,000			$	60,000
Total intrinsic value of options exercisable	$	36,000			$	12,000

Schedule of options outstanding

	Options outstanding				Options exercisable
		Weighted average
	Number	remaining	Weighted average		Number	Weighted average
Range of exercise prices	outstanding	contractual life	exercise price		exercisable	exercise price
$11.40 - $22.93	26,900	9.14	$	18.64	7,380	$	16.68
	26,900	9.14	$	18.64	7,380	$	16.68