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Shareholders' Equity
9 Months Ended
Mar. 31, 2019
Federal Home Loan Banks [Abstract]  
Shareholders' Equity

Note 4. – Shareholders’ Equity

Common Share Repurchase Program – On November 29, 2018, the Company announced a share repurchase program (“Program”) approved by its Board of Directors, which authorized the Company to purchase up to 300,000 shares of its common shares.  On December 13, 2018, the Company announced it had purchased the 300,000 shares authorized under the program, and that its Board of Directors had authorized an additional 450,000 shares to be purchased under the Program.  As of March 31, 2019, a total of 359,959 shares had been repurchased at a cost of $372, excluding fees and expensing relating to the offer. Additional shares of 390,041 remain authorized to be repurchased. The chart below shows by month the total share repurchased and average price per share paid for the Program as of March 31, 2019.

  

 

Total Shares

 

Average Price

 

 

Purchased

 

Per Share Paid

 

November 2018

 

1,235

 

$

1.14

 

December 2018

 

358,724

 

 

1.03

 

Total

 

359,959

 

$

1.03

 

 

Stock-Based Compensation For the three months ended March 31, 2019 and 2018, the Company recognized $0 and $1, respectively, in stock based compensation for options issued to employees and directors of the Company. For the nine months ended March 31, 2019 and 2018, the Company recognized $1 and $7, respectively, in stock based compensation for options issued to employees and directors of the Company. The fair value of the share options granted was estimated using the Black-Scholes option-pricing model.  There were no share options granted under the 2011 Director Stock Option Plan during the three and nine months ended March 31, 2019 and 2018, respectively, and the Company has 50,000 shares available for grants under the 2011 Director Stock Option Plan.