Subsequent Events |
6 Months Ended |
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Dec. 31, 2019 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
NOTE 10 - SUBSEQUENT EVENTS
On January 1, 2020, the Company granted its outside directors options to purchase, on an aggregate basis, 15,792 shares of its common stock at an exercise price of $8.87 per share. The stock options vests quarterly over a two-year period, starting on January 1, 2020 and expire on January 1, 2030. The exercise price is the fair market value of the Company’s common stock, based on the Company’s 30 day volume-weighted average price on January 1, 2020.
Since January 1, 2020, the Company has borrowed an additional $700,000 under the Company’s Credit Facility. Remaining available balance under the Credit Facility is $609,000. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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