Equity [Text Block] | NOTE 13. STOCKHOLDERS EQUITY Officers and Directors Stock Compensation Effective October 2018, not ● Annual compensation of $75,000 payable at the rate of $18,750 per quarter. The Company has the right to pay this amount in the form of cash or shares of the Company’s Common Stock. ● Upon appointment, outside independent directors receive a grant of $150,000 payable in shares of the Company’s restricted Common Stock calculated based on the market value of the shares of Common Stock on the date of grant. The shares vest ratably over a five ● Reimbursement of all travel expense related to performance of Directors’ duties on behalf of the Company. Officers, Key Employees, Consultants and Directors Stock Compensation In January 2013, 2011 Amended 2011 2011 March 29, 2013. 2011 may 2011 2011 April 1, 2023, no 2011 2011 2011 2011 2023 In August 2023, 2023 2023 November 20, 2023. 2023 may 2023 2023 In August 2023, 2023 2023 November 20, 2023. 2023 may 2023 2023 The Company issued 0 June 30, 2024 2023 2011 June 30, 2024 2023, 2011 The Company issued 18,978 and 0 shares to its directors during the years ended June 30, 2024 2023 2023 June 30, 2024 2023, 2023 The Company issued 19,635 and 0 shares to its employees during the years ended June 30, 2024 2023 2023 The Company holds no Vested and issued shares under the Amended 2011 June 30, 2024 June 30, 2023 2023 June 30, 2024 June 30, 2023 Restricted Stock Units Weighted Average Restricted Grant Date Stock Fair Value Units ($/share) Outstanding at July 1, 2022 906,155 5.34 Granted 61,859 5.02 Vested and issued (25,995 ) 5.77 Forfeited (34,568 ) 5.52 Outstanding at June 30, 2023 907,451 5.30 Granted 15,130 10.55 Vested and issued (69,437 ) 5.53 Forfeited - - Outstanding at June 30, 2024 853,144 5.37 The number of restricted stock units outstanding at June 30, 2024 not As of June 30, 2024 three Warrants Outstanding warrants were issued in connection with private placements of the Company’s Common Stock and with the restructuring of the Series B Preferred that occurred in March 2018. June 30, 2024 Warrants Outstanding Warrants Exercisable at June 30, 2024 at June 30, 2024 Range of Weighted average Weighted Weighted exercise Number remaining contractual average Number average prices Outstanding life (years) exercise price exercisable exercise price $ 4.00 1,085,068 1.60 $ 4.00 1,085,068 $ 4.00 $ 10.00 23,737 1.57 $ 10.00 23,737 $ 10.00 1,108,805 1.60 $ 4.13 1,108,805 $ 4.13 Preferred Stock The Company’s articles of incorporation currently authorizes the issuance of up to 30,000,000 shares of ‘blank check’ preferred stock, par value $0.01 (“ Preferred Stock may Series B Preferred 1 Series B- 1 1 The Company does business with some of the largest retailers and wholesalers in the world. Management believes the Series B- 1 1 Preferred Redemption Section 4 1 Series B- 1 1 1 ten Redemption Notice On August 29, 2023, 1 Preferred Redemption three August 29, 2023. As of June 30, 2024 1 The following table provides information about the redemption and retirement of the Series B Preferred during the year ended June 30, 2024 Series B Preferred Dollars Remaining Expended Amount Total by Period Available Number of under the for Future Shares Price Paid Preferred Preferred Period (1) Redeemed Per Share Redemption Redemption July 1, 2023 – September 30, 2023: - $ 10.70 $ - October 1, 2023 – December 31, 2023: - $ 10.70 $ - $ 6,691,513 January 1, 2024 – March 31, 2024: - $ 10.70 $ - $ 6,691,513 April 1, 2024 – June 30, 2024: 8,905 $ 10.70 $ 95,284 $ 6,596,229 Total 8,905 $ 95,284 $ 6,596,229 ( 1 We close our books and records on the last calendar day of each month to align our financial closing with our business processes. The following table provides information about the redemption and retirement of the Series B- 1 three June 30, 2024 Series B-1 Preferred Dollars Remaining Expended Amount Total by Period Available Number of under the for Future Shares Price Paid Preferred Preferred Period (1) Redeemed Per Share Redemption Redemption July 1, 2023 – September 30, 2023: - $ 10.70 $ - October 1, 2023 – December 31, 2023: 70,093 $ 10.70 $ 749,995 $ 1,522,706 January 1, 2024 – March 31, 2024: 70,093 $ 10.70 $ 749,995 $ 772,711 April 1, 2024 – June 30, 2024: 72,216 $ 10.70 $ 772,711 $ - Total 212,402 $ 2,272,701 $ - ( 1 We close our books and records on the last calendar day of each month to align our financial closing with our business processes. Section 4 1 Series B- 1 1 1 ten Redemption Notice As of June 30, 2024 1 Share Repurchase Program On May 9, 2019, may not Share Repurchase Program 10b 18 On March 17, 2020, 19 On May 18, 2021, On August 31, 2021, On May 10, 2022, Since inception of the Share Repurchase Program through June 30, 2024 may may The following table provides information about repurchases of our Common Stock registered pursuant to Section 12 June 30, 2024 2023 Remaining Amount Available for Dollars Future Total Expended Share Number by Period Repurchases of Shares Average Under the Under the Purchased Price Paid Plans or Plans or Period (1) by Period Per Share Programs Programs Year Ended June 30, 2023: July 1, 2022 – September 30, 2022 20,859 $ 4.97 $ 103,657 $ 10,713,447 October 1, 2022 – December 31, 2022 88,741 $ 5.05 $ 448,266 $ 10,265,181 January 1, 2023 – March 31, 2023 74,150 $ 5.79 $ 429,271 $ 9,835,910 April 1, 2023 – June 30, 2023 47,847 $ 6.86 $ 328,129 $ 9,507,781 Year Ended June 30, 2024: July 1, 2023 – September 30, 2023 155,025 $ 8.53 $ 1,322,082 $ 8,185,698 October 1, 2023 – December 31, 2023 22,012 $ 8.79 $ 193,492 $ 7,992,206 January 1, 2024 – March 31, 2024 - $ - $ - $ 7,992,206 April 1, 2024 – June 30, 2024 - $ - $ - $ 7,992,206 ( 1 |