Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.23.3
Stock-Based Compensation (Tables)
 3 Months Ended
Sep. 30, 2023
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, 2023 and 2022.

  

   

Three Months Ended

September 30,

  
    2023     2022  
Risk-free interest rate     4.62 %     2.87 %
Expected term (in years)     6.25       4.5  
Expected volatility     60 %     50 %
Expected dividend yield     -       -  
Schedule of Stock Option Activity

The following table summarizes stock option activity for the three months ended September 30, 2023:

  

     

Number

of

Shares

    

Weighted

Average Exercise

Price

    

Weighted

Average

Remaining

Contractual

Term

(Years)

    

Aggregate

Intrinsic

Value

  
                           
Outstanding at June 30, 2023       2,049,313     $ 4.54       3.7       -  
Granted       10,000     $ 3.27                  
Exercised       -     $ -                  
Forfeited/cancelled       (4,420 )   $ 6.00                  
Outstanding at September 30, 2023       2,054,893     $ 4.53       3.0     $ 565,862  
Options exercisable at September 30, 2023       882,224     $ 4.30       3.1     $ 361,079