Stock Options

12 Months Ended

Jun. 30, 2024

Stock Options [Abstract]

STOCK OPTIONS

(16) STOCK OPTIONS

On December 4, 2016, the Board of Directors adopted the Company’s 2016 Equity Incentive Plan (the “2016 Plan”) which was subsequently approved and adopted by majority written consent in lieu of an annual meeting. The purpose of the 2016 Plan is to encourage and enable the officers, employees, directors and other key persons (including consultants) of the Company, upon whose judgment, initiative and efforts the Company largely depends for the successful conduct of its business, to acquire a proprietary interest in the Company. It is anticipated that providing such persons with a direct stake in the Company’s welfare will assure a closer identification of their interests with those of the Company and its stockholders, thereby stimulating their efforts on the Company’s behalf and strengthening their desire to remain with the Company.

In computing the impact of stock option grants, the fair value of each option is estimated on the date of grant based on the Black-Scholes options-pricing model utilizing certain assumptions for a risk-free interest rate; volatility of a comparable company; and expected remaining lives of the awards. The assumptions used in calculating the fair value of share-based payment awards represent management’s best estimates, but these estimates involve inherent uncertainties and the application of management judgment. As a result, if factors change and the Company uses different assumptions, the Company’s stock-based compensation expense could be materially different in the future.

In addition, the Company is required to estimate the expected forfeiture rate and only recognize expense for those shares expected to vest. The Company cannot assess its forfeiture rate at this time due to the lack of historical data.

	As of June 30, 2024			As of June 30, 2023
Expected volatility		20% to 44	%		20% to 44	%
Expected term		0.34 to 1.83 Years			0.5 to 2.83 Years
Risk-Free interest rate		0.05% to 1.55	%		0.05% to 2.49	%
Forfeiture rate		0.00	%		0.00	%
Expected dividend rate		0.00	%		0.00	%

At June 30, 2024, the Company has unvested and vested options under the 2016 Plan with exercise prices at $.51 per share. The following table summarizes information about all of the stock options outstanding under the 2016 Plan at June 30, 2024 and 2023:

Employees/Consultants	Options			Wtd. Avg. Exercise Price			Wtd. Avg. Remaining Term		Aggregate Intrinsic Value
Outstanding at June 30, 2022		11,205,290		$	0.30			1.39 Years	$	-
Granted		-		$	-
Expired		(5,500,000	)	$	(0.20	)
Exercised		-		$	-
Cancelled		-		$	-
Outstanding at June 30, 2023		5,705,290		$	0.40			1.50 Years	$	-
Granted		-		$	-
Expired		(1,950,000	)	$	(0.20	)
Exercised		-		$	-
Cancelled		-		$	-
Outstanding at June 30, 2024		3,755,290		$	0.51			0.98 Years	$	-

The following table summarizes information about vested and unvested options under the 2016 Plan at June 30, 2024 and June 30, 2023. For the years ended June 30, 2024 and 2023 the Company recognized expenses for options that vested of $50,143 and $110,842, respectively:

Employees/Consultants	Unvested			Vested and Exercisable			Total
Outstanding at June 30, 2022		1,505,290			9,700,000			11,205,290
Granted		-			-			-
Vested and Exercisable		(875,000	)		875,000			-
Cancelled		-			-			-
Expired		-			(5,500,000	)		(5,500,000	)
Outstanding at June 30, 2023		630,290			5,075,000			5,705,290
Granted		-			-			-
Vested and Exercisable		(375,000	)		375,000			-
Cancelled		-			-			-
Expired		-			(1,950,000	)		(1,950,000	)
Outstanding at June 30, 2024		255,290			3,500,000			3,755,290

Unvested options will be expensed under the Black-Scholes options-pricing model when they vest. As of June 30, 2024, the remaining options to be expensed when vested are estimated to be $18,042.

At June 30, 2024, the Company has issued options pursuant to six different stock option plans, the most recent being the 2016 Plan. All the options for the previous five plans through and including the 2012 Non-Statutory Plan have expired.

The tables below summarize information about these five plans:

Employees/Consultants	Options			Wtd. Avg. Exercise Price			Wtd. Avg. Remaining Term		Aggregate Intrinsic Value
Outstanding at June 30, 2022		12		$	350			0.11 Years	$	-
Granted		-		$	-
Exercised		-		$	-
Cancelled		(12	)	$	(350	)
Outstanding at June 30, 2023		-		$	-			-	$	-
Granted		-		$	-
Exercised		-		$	-
Cancelled		-		$	-
Outstanding at June 30, 2024		-		$	-			-	$	-

Vested & Exercisable Stock Options	June 30, 2024		June 30, 2023
Employee 2016 Equity Plan		-		-
Director 2016 Equity Plan		-		-
Employee Other Plans		-		-
Directors and Consultants Other Plans		-		-
Total		-		-

The table below summarizes information about all stock options outstanding as of June 30, 2024:

	Outstanding Options				Vested Options
Range of Exercise price	Number Outstanding at June 30, 2024		Weighted Averaged Exercise Price	Weighted Averaged Remaining Life (Years)	Number Exercisable at June 30, 2024		Weighted Averaged Exercise Price	Weighted Averaged Remaining Life (Years)
$0.20 - $0.51	3,755,290	$	0.51	0.98	3,500,000	$	0.51	0.98
Total Outstanding options	3,755,290	$	0.51	0.98	3,500,000	$	0.51	0.98

The Company’s common stock, symbol IMDS, was quoted on OTCmarkets.com Pink until September 25, 2014 at which time IDSI’s registration was revoked by the Securities and Exchange Commission (SEC) for failure to timely file its Quarterly and Annual Reports. The last quoted price was $0.1. Because the Company was de-registered and OTC markets did not provide a quote for IMDS, there is no public market for the Company’s shares. The Company has sufficient authorized shares available for all outstanding option; however, if exercised, the shares will be issued with a restrictive legend because the Company was not an SEC reporting company until October 2018. Further, given its recent return to SEC reporting status, the Company is unable to file an S-8 Registration Statement to register shares issued because of option exercise pursuant to various stock option agreements.