Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity and Stock-Based Compensation

v3.20.1
Stockholders' Equity and Stock-Based Compensation
 9 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Stockholders' Equity and Stock-Based Compensation

Note 5 – Stockholders' Equity and Stock-Based Compensation 

 

A summary of our unvested Restricted Shares and Restricted Stock Units ("RSUs") activity for the nine months ended March 31, 2020 is presented in the table below:

 

    Restricted
Shares		     Restricted
Stock Units		     Total     Weighted Average Grant Date Fair Value  
Nonvested at July 1, 2019     215,063       -       215,063     $ 11.99  
Granted     -       359,554       359,554       7.64  
Vested     (86,654 )     (10,223 )     (96,877 )     11.40  
Forfeited     (52,755 )     (24,210 )     (76,965 )     10.04  
Nonvested at March 31, 2020     75,654       325,121       400,775     $ 8.61  

 

For the three and nine months ended March 31, 2020, stock-based compensation expense related to the ratable amortization of the unvested Restricted Shares and RSUs was $0.3 million and $0.8 million, respectively, and $3.1 million of total unrecognized costs related to Restricted Shares and RSUs will be ratably recognized over an estimated weighted average remaining vesting period of 3.2 years.

 

Warrants 

 

A summary of the status of outstanding warrants to purchase common stock at March 31, 2020 and the changes during the nine months then ended, is presented in the following table:

 

    Shares
Issuable
upon
Exercise of
Warrants		     Weighted
Average
Exercise
Price		     Weighted
Average
Remaining
Life
(in years)		  
Outstanding at July 1, 2019     6,183,115     $ 11.50       3.72  
Issued     -       -       -  
Exercised     (369,311 )     11.50       -  
Expired/cancelled     -       -       -  
Outstanding at March 31, 2020     5,813,804     $ 11.50       2.89  

 

There was no aggregate intrinsic value for the warrants outstanding as of March 31, 2020.