Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.0.1
Stock-Based Compensation (Tables)
 6 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Fair Value Assumptions of Stock Options

The following table summarizes the range of key assumptions used to determine the fair value of stock options granted during the six months ended December 31, 2021 (no options were granted during the six months ended December 31, 2020):

 

Risk-free interest rate     0.79% - 1.1 %
Expected term (in years)     3.0 - 4.5  
Expected volatility     50.0 %
Expected dividend yield     -  
Schedule of Stock Awards Granted

The following table summarizes stock option activity for the six months ended December 31, 2021:

 

   

Number

of

Shares

    

Weighted

Average Exercise

Price

    

Weighted

Average

Remaining

Contractual

Term

(Years)

    

Aggregate

Intrinsic

Value

  
                         
Outstanding at June 30, 2021     604,404     $ 2.18       4.7     $ 2,802,420  
Granted     56,659     $ 6.90                  
Exercised     -     $ -                  
Forfeited     -     $ -                  
Outstanding at December 31, 2021     661,063     $ 2.59       4.2     $ 2,397,469  
Options exercisable at December 31, 2021     81,288     $ 3.08       4.2     $ 260,467  
Schedule of Stock- Based Compensation Expenses

The Company recorded stock-based compensation expenses for the following periods:

    2021     2020     2021     2020  
   

Three Months Ended

December 31,

    

Six Month Ended

December 31,

  
    2021     2020     2021     2020  
Research and development   $ 2,108     $ -     $ 11,988     $ -  
General and administrative     92,174       20,694       116,467       37,102  
Total stock-based compensation expense   $ 94,282     $ 20,694     $ 128,455     $ 37,102