Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.2.2
Stock-Based Compensation (Tables)
 3 Months Ended
Sep. 30, 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 months ended September 30, 2022 and 2021.

 

   

Three Months Ended

September 30,

  
    2022     2021  
Risk-free interest rate     2.87 %     - %
Expected term (in years)     4.5       -  
Expected volatility     50.0 %     - %
Expected dividend yield     -       -  
Schedule of Stock Awards Granted

The following table summarizes stock option activity for the three months ended September 30, 2022:

 

   

Number

of

Shares

    

Weighted

Average Exercise

Price

    

Weighted

Average

Remaining

Contractual

Term

(Years)

    

Aggregate

Intrinsic

Value

  
                         
Outstanding at June 30, 2022     1,911,459     $ 4.63        4.4        -  
Granted     8,242     $ 5.49                  
Exercised     (24,000 )   $ 2.18                  
Forfeited     -     $ -                  
Outstanding at September 30, 2022     1,895,701     $ 4.66       4.2     $ 357,916  
Options exercisable at September 30, 2022     315,386     $ 2.59       3.5     $ 177,868  
Schedule of Stock- Based Compensation Expenses

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

 

    2022     2021  
    Three Months Ended  
    September 30,  
    2022     2021  
Research and development   $ -     $ 9,880  
General and administrative     211,900       24,293  
Total stock-based compensation expense   $ 211,900     $ 34,173