5. STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense

The following table summarizes stock-based compensation expense for the three and six months ended December 31, 2020 and 2019:

	Three Months Ended December 31,				Six Months Ended December 31,
	2020		2019		2020		2019
Cost of Goods Sold	$	11,233	$	11,233	$	22,466	$	22,466
Research and Development		19,435		12,683		36,360		25,368
Selling, General and Administrative		126,411		250,790		169,399		303,377
Stock Based Compensation Expense	$	157,079	$	274,706	$	228,225	$	351,211

Stock option activity

The following tables summarize stock option activity for the six months ended December 31, 2020:

	Options Outstanding
	Number of Shares		Weighted Average Exercise Price		Weighted Average Contractual Life
Outstanding at June 30, 2020		2,065,200	$	0.95	6.59 years
Granted		70,000	$	–	–
Outstanding at December 31, 2020		2,135,200	$	0.96	6.21 years

Stock options outstanding by exercise price range

Information related to the stock options outstanding as of December 31, 2020 is as follows:

Range of Exercise Prices		Number of Shares		Weighted- Average Remaining Contractual Life (years)		Weighted- Average Exercise Price		Exercisable Number of Shares		Exercisable Weighted- Average Exercise Price
$	0.27		40,000		0.53	$	0.27		40,000	$	0.27
$	0.48		60,000		5.24	$	0.48		60,000	$	0.48
$	0.50		100,000		4.47	$	0.50		100,000	$	0.50
$	0.55		44,000		3.20	$	0.55		44,000	$	0.55
$	0.70		100,000		7.59	$	0.70		100,000	$	0.70
$	0.73		786,000		5.81	$	0.73		786,000	$	0.73
$	0.85		6,000		2.01	$	0.85		6,000	$	0.85
$	0.90		36,000		3.44	$	0.90		36,000	$	0.90
$	1.20		200,200		1.17	$	1.20		200,200	$	1.20
$	1.25		45,000		9.22	$	1.25		–	$	–
$	1.30		478,000		8.38	$	1.30		160,679	$	1.30
$	1.40		70,000		9.88	$	1.40		70,000	$	1.40
$	1.42		100,000		8.70	$	1.42		33,334	$	1.42
$	1.50		70,000		9.94	$	1.50		70,000	$	1.50
$	0.27–1.50		2,135,200		6.21	$	0.96		1,706,213	$	0.88