Stock Option (Tables)

9 Months Ended

Mar. 31, 2023

2012 Employee Stock Option Plan

Stock Option

Schedule of fair value and valuation assumptions

	2023		2022
Risk-free interest rates	3.03	%	1.64	%
Expected lives	7.27 Years		6.18 Years
Expected volatility	43	%	43	%
Expected dividend yields	0	%	0	%

Schedule of plan activity

	2023				2022
			Weighted average				Weighted average
	Options		exercise price		Options		exercise price
Outstanding, beginning of year		523,080	$	18.59		214,080	$	9.59
Granted		37,500	$	26.94		338,000	$	23.17
Forfeited/Lapsed		—		—		—		—
Exercised		(38,000)	$	10.63		(29,000)	$	5.45
Outstanding, end of period		522,580	$	19.34		523,080	$	18.59
Exercisable, end of period		236,652	$	17.47		164,776	$	15.01
Weighted average fair value at grant date of options granted	$	13.36			$	12.16
Total intrinsic value of options exercised	$	787,000			$	502,000
Total intrinsic value of options outstanding	$	9,531,000			$	1,903,000
Total intrinsic value of options exercisable	$	4,760,000			$	1,085,000

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
$3.15 ‑ $26.94	522,580	7.90	$	19.34	236,652	$	17.47
	522,580	7.90	$	19.34	236,652	$	17.47

2012 Non-Employee Stock Option Plan

Stock Option

Schedule of fair value and valuation assumptions

	2023	2022
Risk-free interest rates	n/a	1.68	%
Expected lives	n/a	6.18 Years
Expected volatility	n/a	43	%
Expected dividend yields	n/a	0	%

Schedule of plan activity

	2023				2022
			Weighted average				Weighted average
	Options		exercise price		Options		exercise price
Outstanding, beginning of year		20,400	$	14.39		12,000	$	6.55
Granted		—		—		9,600	$	22.93
Forfeited/Lapsed		—		—		—		—
Exercised		—		—		—		—
Outstanding, end of period		20,400	$	14.39		21,600	$	13.83
Exercisable, end of period		13,920	$	10.99		12,480	$	8.48
Weighted average fair value at grant date of options granted		n/a			$	12.58
Total intrinsic value of options exercised		n/a			$	n/a
Total intrinsic value of options outstanding	$	473,000			$	168,000
Total intrinsic value of options exercisable	$	370,000			$	155,000

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	20,400	6.90	$	14.39	13,920	$	10.99
	20,400	6.90	$	14.39	13,920	$	10.99

2018 Non-Employee Stock Option Plan

Stock Option

Schedule of fair value and valuation assumptions

	2023	2022
Risk-free interest rates	n/a	1.68	%
Expected lives	n/a	6.18 Years
Expected volatility	n/a	43	%
Expected dividend yields	n/a	0	%

Schedule of plan activity

	2023				2022
			Weighted average				Weighted average
	Options		exercise price		Options		exercise price
Outstanding, beginning of year		89,000	$	14.91		70,100	$	11.93
Granted		—		—		23,500	$	22.93
Forfeited/Lapsed		—		—		—		—
Exercised		(11,500)	$	15.14		(4,600)	$	10.43
Outstanding, end of period		77,500	$	14.88		89,000	$	14.91
Exercisable, end of period		53,220	$	13.03		45,040	$	12.98
Weighted average fair value at grant date of options granted		n/a			$	12.58
Total intrinsic value of options exercised	$	164,000			$	58,000
Total intrinsic value of options outstanding	$	1,760,000			$	556,000
Total intrinsic value of options exercisable	$	1,307,000			$	351,000

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	77,500	7.03	$	14.88	53,220	$	13.03
	77,500	7.03	$	14.88	53,220	$	13.03

2020 Non-Employee Stock Option Plan

Stock Option

Schedule of fair value and valuation assumptions

	2023		2022
Risk-free interest rates	3.03 - 3.40	%	1.68	%
Expected lives	7.23 - 7.27 Years		6.18 Years
Expected volatility	43	%	43	%
Expected dividend yields	0	%	0	%

Schedule of plan activity

	2023				2022
			Weighted average				Weighted average
	Options		exercise price		Options		exercise price
Outstanding, beginning of year		26,900	$	18.64		10,000	$	11.40
Granted		30,000	$	27.57		16,900	$	22.93
Forfeited/Lapsed		—		—		—		—
Exercised		—		—		—		—
Outstanding, end of period		56,900	$	23.35		26,900	$	18.64
Exercisable, end of period		18,760	$	20.73		7,380	$	16.68
Weighted average fair value at grant date of options granted	$	13.74			$	12.58
Total intrinsic value of options exercised		n/a				n/a
Total intrinsic value of options outstanding	$	810,000			$	91,000
Total intrinsic value of options exercisable	$	316,000			$	36,000

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 - $30.71	56,900	8.84	$	23.35	18,760	$	20.73
	56,900	8.84	$	23.35	18,760	$	20.73