STOCK-BASED COMPENSATION

3 Months Ended

Sep. 30, 2024

Equity [Abstract]

STOCK-BASED COMPENSATION

5. STOCK-BASED COMPENSATION

Stock Options

The following table summarizes stock-based compensation expense for the three months ended September 30, 2024 and 2023. The share amounts and prices shown below reflect adjustment for a 1-for-3 reverse stock split that took effect after the close of business on November 1, 2022.

	Three Months Ended September 30,
	2024		2023
Cost of Goods Sold	$	39,226	$	22,625
Selling, General and Administrative		110,138		86,121
Stock Based Compensation Expense	$	149,364	$	108,746

No compensation has been capitalized because such amounts would have been immaterial.

The following tables summarize stock option activity for the three months ended September 30, 2024:

	Options Outstanding
	Number of Shares			Weighted Average Exercise Price		Weighted Average Contractual Life
Outstanding at June 30, 2024		1,357,735		$	4.72		6.60 years
Exercised		(10,999	)		2.81		–
Cancelled, forfeited, or expired		(17,500	)		4.62
Outstanding at September 30, 2024		1,329,236		$	4.72		6.35 years

The aggregate intrinsic value of the Company’s in-the-money outstanding and exercisable options as of September 30, 2024 were $1,533,439 and $1,511,239, respectively.