STOCK BASED COMPENSATION PLANS (Tables)

12 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [Abstract]

Schedule of stock based compensation plans

The Company has four active stock based compensation plans at June 30, 2019 as shown in the table below:



Date Approved	Name of Plan	Type of Plan	Authorized Shares

June 2013	2013 Stock Incentive Plan	Stock	500,000
June 2014	2014 Stock Option Incentive Plan	Stock options	750,000
June 2015	2015 Equity Incentive Plan	Stock & stock options	1,250,000
April 2018	2018 Equity Incentive Plan	Stock & stock options	1,500,000
			4,000,000

Schedule of common stock for future issuance

As of June 30, 2019, the Company had reserved shares of Common Stock for future issuance for the following:



Common Stock		Reserved Shares
Exercise of Common Stock Warrants		23,978
Conversions of Preferred Stock and cumulative Preferred Stock dividends		104,139
Issuance under 2013 Stock Incentive Plan		—
Issuance under 2014 Stock Option Incentive Plan		101,447
Issuance under 2015 Equity Incentive Plan		342,806
Issuance under 2018 Equity Incentive Plan		1,500,000
Total shares reserved for future issuance		2,072,370

Schedule of stock option granted weighted average assumptions

The fair value of options granted during the years ended June 30, 2019, 2018, and 2017 was determined using the following assumptions:



	For the year ended June 30,
	2019	2018	2017

Expected volatility	58.4 - 70.9%	50.2 - 50.9%	49.0 - 50.2%
Expected life (years)	4.2 - 4.5	4.0 - 4.5	3.6 - 4.5
Expected dividends	0.0%	0.0%	0.0%
Risk-free interest rate	2.23-2.91%	1.64 - 1.75%	1.06 - 1.72%

Schedule of information related to outstanding options

The following tables provide information about outstanding options for the years ended June 30, 2019, 2018, and 2017:



	For the year ended June 30, 2019
	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period	904,766		$	3.31	4.3	$	9,664
Granted	470,000		$	8.22
Exercised	(11,669	)	$	5.40		$	—
Forfeited	(235,999	)	$	5.70
Expired	—		$	—
Outstanding options, end of period	1,127,098		$	4.84	4.3	$	2,917
Exercisable options, end of period	638,988		$	2.86	3.4	$	2,923



	For the year ended June 30, 2018
	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period	895,221		$	2.79	5.2	$	2,160
Granted	179,047		$	5.66
Exercised	(93,169	)	$	1.92		$	—
Forfeited	(76,333	)	$	4.30
Expired	—		$	—
Outstanding options, end of period	904,766		$	3.31	4.3	$	9,664
Exercisable options, end of period	632,737		$	2.55	3.9	$	7,242



	For the year ended June 30, 2017
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding options, beginning of period	610,141	$	2.07	5.4	$	1,342
Granted	285,080	$	4.30
Exercised	—	$	—		$	—
Forfeited	—	$	—
Expired	—	$	—
Outstanding options, end of period	895,221	$	2.79	5.2	$	2,160
Exercisable options, end of period	483,474	$	2.08	4.5	$	1,511

Schedule of nonvested share activity

A summary of the status of the Company’s nonvested common shares as of June 30, 2019, 2018, and 2017, and changes during the years then ended is presented below:



	Shares		Weighted-Average Grant-Date Fair Value
Nonvested at June 30, 2016	128,498		$	2.97
Granted	135,585		4.25
Vested	(141,527	)	3.33
Nonvested at June 30, 2017	122,556		$	3.96
Granted	275,547		5.31
Vested	(232,267	)	4.92
Nonvested at June 30, 2018	165,836		$	4.85
Granted	40,062		13.90
Vested	(166,927	)	6.01
Nonvested at June 30, 2019	38,971		$	9.19

Schedule of stock-based compensation expense

A summary of the Company's stock-based compensation expense recognized during the years ended June 30, 2019, 2018, and 2017 is as follows (in thousands):



	For the year ended June 30,
Award type	2019		2018		2017
Stock options	$	822	$	485	$	264
Stock grants	928		1,309		950
Total stock-based compensation expense	$	1,750	$	1,794	$	1,214

A summary of the Company's unrecognized stock-based compensation expense as of June 30, 2019 is as follows:

As of June 30, 2019

Award type

Unrecognized Expense
(in thousands)

Weighted Average Recognition Period
(in years)

Stock options

Stock grants