Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.1
Stock-Based Compensation (Tables)
 9 Months Ended
Mar. 31, 2022
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 three and nine months ended March 31, 2022 and 2021.

 

 

    Three Months Ended
March 31,		     Nine Months Ended
March 31,		  
    2022     2021     2022     2021  
Risk-free interest rate     1.29% – 2.14 %     0.27% – 0.64 %     0.79% – 2.14 %     0.27% – 0.64 %
Expected term (in years)     4.50       2.8 – 3.54       3.0 – 4.50       2.8 – 3.54  
Expected volatility     50.0 %     49.6 %     50.0 %     49.6 %
Expected dividend yield     –     –     –     –
Schedule of Stock Awards Granted

The following table summarizes stock option activity for the nine months ended March 31, 2022:

 

   

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     879,429     $ 6.16                  
Exercised     -     $ -                  
Forfeited     -     $ -                  
Outstanding at March 31, 2022     1,483,833     $ 4.54       4.5     $ 3,765,907  
Options exercisable at March 31, 2022     225,741     $ 2.54       4.0     $ 1,025,177  
Schedule of Stock- Based Compensation Expenses

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

 

    2022     2021     2022     2021  
    Three Months Ended     Nine Months Ended  
    March 31,     March 31,  
    2022     2021     2022     2021  
Research and development   $ 245     $ 2,105     $ 12,233     $ 2,105  
General and administrative     125,009       45,302       241,476       82,404  
Total stock-based compensation expense   $ 125,254     $ 47,407     $ 253,709     $ 84,509