Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Mar. 31, 2022 | May 16, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000050471 | |
Entity Registrant Name | PARK CITY GROUP INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --06-30 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-34941 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 37-1454128 | |
Entity Address, Address Line One | 5282 South Commerce Drive, Suite D292 | |
Entity Address, City or Town | Murray | |
Entity Address, State or Province | UT | |
Entity Address, Postal Zip Code | 84107 | |
City Area Code | 435 | |
Local Phone Number | 645-2000 | |
Title of 12(b) Security | Common stock, par value $0.01 per share | |
Trading Symbol | PCYG | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 18,596,308 |
Consolidated Condensed Balance
Consolidated Condensed Balance Sheets (Unaudited) - USD ($) | Mar. 31, 2022 | Jun. 30, 2021 |
Current Assets: | ||
Cash | $ 21,269,307 | $ 24,070,322 |
Receivables, net of allowance for doubtful accounts of $192,315 and $234,693 at March 31, 2022 and June 30, 2021, respectively | 3,593,383 | 3,891,699 |
Contract asset – unbilled current portion | 665,322 | 1,248,936 |
Prepaid expense and other current assets | 1,163,489 | 490,817 |
Total Current Assets | 26,691,501 | 29,701,774 |
Property and equipment, net | 865,931 | 2,589,194 |
Other Assets: | ||
Deposits and other assets | 22,414 | 22,414 |
Prepaid expense – less current portion | 67,098 | 47,987 |
Contract asset – unbilled long-term portion | 206,052 | 408,925 |
Operating lease – right-of-use asset | 382,544 | 695,371 |
Goodwill | 20,883,886 | 20,883,886 |
Capitalized software costs, net | 128,799 | 171,732 |
Total Other Assets | 22,117,843 | 22,755,915 |
Total Assets | 49,675,275 | 55,046,883 |
Current liabilities: | ||
Accounts payable | 493,405 | 467,194 |
Accrued liabilities | 1,065,034 | 988,092 |
Contract liability - deferred revenue | 1,542,020 | 1,755,341 |
Lines of credit | 3,385,867 | 6,000,000 |
Operating lease liability - current | 52,669 | 90,156 |
Total current liabilities | 6,538,995 | 9,300,783 |
Long-term liabilities: | ||
Operating lease liability – less current portion | 335,903 | 605,214 |
Total liabilities | 6,874,898 | 9,905,997 |
Stockholders’ equity: | ||
Common Stock, $0.01 par value, 50,000,000 shares authorized; 18,637,929 and 19,351,935 issued and outstanding at March 31, 2022 and June 30, 2021, respectively | 186,382 | 193,522 |
Additional paid-in capital | 69,498,487 | 74,298,924 |
Accumulated deficit | (26,892,870) | (29,359,938) |
Total stockholders’ equity | 42,800,377 | 45,140,886 |
Total liabilities and stockholders’ equity | 49,675,275 | 55,046,883 |
Series B Preferred Stock [Member] | ||
Stockholders’ equity: | ||
Preferred stock, value | 6,254 | 6,254 |
Series B-1 Preferred Stock [Member] | ||
Stockholders’ equity: | ||
Preferred stock, value | 2,124 | 2,124 |
Customer Relationships [Member] | ||
Other Assets: | ||
Customer relationships | $ 427,050 | $ 525,600 |
Consolidated Condensed Balanc_2
Consolidated Condensed Balance Sheets (Unaudited) (Parentheticals) - USD ($) | Mar. 31, 2022 | Jun. 30, 2021 |
Allowance for Doubtful Accounts | $ 192,315 | $ 234,693 |
Preferred Stock, authorized (in shares) | 30,000,000 | 30,000,000 |
Preferred Stock, outstanding (in shares) | 18,637,929 | 19,351,935 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, par (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, authorized (in shares) | 50,000,000 | 50,000,000 |
Common Stock, issued (in shares) | 18,637,929 | 19,351,935 |
Series B Preferred Stock [Member] | ||
Preferred Stock, authorized (in shares) | 700,000 | 700,000 |
Preferred Stock, issued (in shares) | 625,375 | 625,375 |
Preferred Stock, outstanding (in shares) | 625,375 | 625,375 |
Series B-1 Preferred Stock [Member] | ||
Preferred Stock, authorized (in shares) | 550,000 | 550,000 |
Preferred Stock, issued (in shares) | 212,402 | 212,402 |
Preferred Stock, outstanding (in shares) | 212,402 | 212,402 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Revenue | $ 4,555,906 | $ 6,022,540 | $ 13,469,170 | $ 16,422,146 |
Operating expense: | ||||
Cost of services and product support | 773,651 | 2,634,224 | 2,437,351 | 6,706,769 |
Sales and marketing | 1,229,677 | 1,155,266 | 3,570,606 | 3,643,602 |
General and administrative | 1,178,649 | 1,255,410 | 3,484,307 | 3,568,474 |
Depreciation and amortization | 197,393 | 259,343 | 676,324 | 769,440 |
Total operating expense | 3,379,370 | 5,304,243 | 10,168,588 | 14,688,285 |
Income from operations | 1,176,536 | 718,297 | 3,300,582 | 1,733,861 |
Other income (expense): | ||||
Interest income | 24,975 | 60,234 | 167,015 | 176,078 |
Interest expense | (13,919) | (4,248) | (20,120) | (76,700) |
Unrealized gain (loss) on short term investments | (65,889) | (1,131) | (328,987) | 54,434 |
Other gain (loss) | (5,649) | 10,000 | (88,730) | 1,109,350 |
Income before income taxes | 1,116,054 | 783,152 | 3,029,760 | 2,997,023 |
(Provision) for income taxes: | (28,038) | (9,955) | (122,859) | (46,141) |
Net income | 1,088,016 | 773,197 | 2,906,901 | 2,950,882 |
Dividends on preferred stock | (146,611) | (146,611) | (439,833) | (439,833) |
Net income applicable to common shareholders | $ 941,405 | $ 626,586 | $ 2,467,068 | $ 2,511,049 |
Weighted average shares, basic (in shares) | 19,019,000 | 19,555,000 | 19,255,000 | 19,511,000 |
Weighted average shares, diluted (in shares) | 19,422,000 | 19,942,000 | 19,579,000 | 19,744,000 |
Basic income per share (in dollars per share) | $ 0.05 | $ 0.03 | $ 0.13 | $ 0.13 |
Diluted income per share (in dollars per share) | $ 0.05 | $ 0.03 | $ 0.13 | $ 0.13 |
Consolidated Condensed Statem_2
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 2,906,901 | $ 2,950,882 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 676,324 | 769,440 |
Amortization of operating right of use asset | 312,826 | 63,896 |
Stock compensation expense | 320,199 | 249,733 |
Bad debt expense | 391,667 | 516,694 |
Gain on disposal of assets | (24,737) | 0 |
Gain on debt extinguishment | 0 | (1,109,350) |
Loss on sale of property and equipment | 107,820 | 0 |
(Increase) decrease in: | ||
Accounts receivables | 198,430 | (1,508,097) |
Long-term receivables, prepaids and other assets | (414,998) | 293,042 |
(Decrease) increase in: | ||
Accounts payable | 26,210 | 1,091,304 |
Operating lease liability | (306,798) | (63,895) |
Accrued liabilities | 52,441 | 549,537 |
Deferred revenue | (213,321) | (452,633) |
Net cash provided by operating activities | 4,032,964 | 3,350,553 |
Cash flows from investing activities: | ||
Sale of property and equipment | 1,374,085 | 0 |
Purchase of property and equipment | (50,823) | (105,391) |
Net cash provided by (used in) investing activities | 1,323,262 | (105,391) |
Cash flows from financing activities: | ||
Net (decrease) increase in lines of credit | (2,614,133) | 1,340,000 |
Common Stock buyback/retirement | (5,212,452) | (508,243) |
Proceeds from employee stock plan | 109,177 | 114,430 |
Dividends paid | (439,833) | (439,833) |
Payments on notes payable | 0 | (920,754) |
Net cash used in financing activities | (8,157,241) | (414,400) |
Net (decrease) increase in cash and cash equivalents | (2,801,015) | 2,830,762 |
Cash and cash equivalents at beginning of period | 24,070,322 | 20,345,330 |
Cash and cash equivalents at end of period | 21,269,307 | 23,176,092 |
Supplemental disclosure of cash flow information: | ||
Cash paid for income taxes | 172,342 | 55,772 |
Cash paid for interest | 21,607 | 76,700 |
Cash paid for operating leases | $ 66,871 | $ 71,200 |
Supplemental disclosure of non-cash investing and financing activities: | ||
Common stock to pay accrued liabilities (in shares) | 234,447 | 214,550 |
Dividends accrued on preferred stock | $ 439,833 | $ 439,833 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Preferred Stock [Member]Series B Preferred Stock [Member] | Preferred Stock [Member]Series B-1 Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Jun. 30, 2020 | 625,375 | 212,402 | 19,484,485 | |||
Balance at Jun. 30, 2020 | $ 6,254 | $ 2,124 | $ 194,847 | $ 75,271,097 | $ (32,890,889) | $ 42,583,433 |
Accrued compensation (in shares) | 0 | 0 | 1,302 | |||
Accrued compensation | $ 0 | $ 0 | $ 13 | 5,392 | 0 | 5,405 |
Employee stock plan (in shares) | 0 | 0 | 13,980 | |||
Employee stock plan | $ 0 | $ 0 | $ 140 | 50,188 | 0 | 50,328 |
Preferred Dividends-Declared | 0 | 0 | 0 | 0 | (146,611) | (146,611) |
Net income | $ 0 | $ 0 | $ 0 | 0 | 554,826 | 554,826 |
Balance (in shares) at Sep. 30, 2020 | 625,375 | 212,402 | 19,499,767 | |||
Balance at Sep. 30, 2020 | $ 6,254 | $ 2,124 | $ 195,000 | 75,326,677 | (32,482,674) | 43,047,381 |
Balance (in shares) at Jun. 30, 2020 | 625,375 | 212,402 | 19,484,485 | |||
Balance at Jun. 30, 2020 | $ 6,254 | $ 2,124 | $ 194,847 | 75,271,097 | (32,890,889) | 42,583,433 |
Net income | 2,950,882 | |||||
Balance (in shares) at Mar. 31, 2021 | 625,375 | 212,402 | 19,478,038 | |||
Balance at Mar. 31, 2021 | $ 6,254 | $ 2,124 | $ 194,783 | 75,094,601 | (30,379,840) | 44,917,922 |
Balance (in shares) at Sep. 30, 2020 | 625,375 | 212,402 | 19,499,767 | |||
Balance at Sep. 30, 2020 | $ 6,254 | $ 2,124 | $ 195,000 | 75,326,677 | (32,482,674) | 43,047,381 |
Accrued compensation (in shares) | 0 | 0 | 29,141 | |||
Accrued compensation | $ 0 | $ 0 | $ 292 | 130,958 | 0 | 131,250 |
Employee stock plan (in shares) | 0 | 0 | 514 | |||
Employee stock plan | $ 0 | $ 0 | $ 5 | 2,699 | 0 | 2,704 |
Preferred Dividends-Declared | 0 | 0 | 0 | 0 | (146,611) | (146,611) |
Net income | $ 0 | $ 0 | $ 0 | 0 | 1,622,859 | 1,622,859 |
Balance (in shares) at Dec. 31, 2020 | 625,375 | 212,402 | 19,529,422 | |||
Balance at Dec. 31, 2020 | $ 6,254 | $ 2,124 | $ 195,297 | 75,460,334 | (31,006,426) | 44,657,583 |
Accrued compensation (in shares) | 0 | 0 | 15,419 | |||
Accrued compensation | $ 0 | $ 0 | $ 154 | 77,741 | 0 | 77,895 |
Employee stock plan (in shares) | 0 | 0 | 17,278 | |||
Employee stock plan | $ 0 | $ 0 | $ 173 | 63,928 | 0 | 64,101 |
Stock buyback (in shares) | 0 | 0 | (84,081) | |||
Stock buyback | $ 0 | $ 0 | $ (841) | (507,402) | 0 | (508,243) |
Preferred Dividends-Declared | 0 | 0 | 0 | 0 | (146,611) | (146,611) |
Net income | $ 0 | $ 0 | $ 0 | 0 | 773,197 | 773,197 |
Balance (in shares) at Mar. 31, 2021 | 625,375 | 212,402 | 19,478,038 | |||
Balance at Mar. 31, 2021 | $ 6,254 | $ 2,124 | $ 194,783 | 75,094,601 | (30,379,840) | 44,917,922 |
Balance (in shares) at Jun. 30, 2021 | 625,375 | 212,402 | 19,351,935 | |||
Balance at Jun. 30, 2021 | $ 6,254 | $ 2,124 | $ 193,522 | 74,298,924 | (29,359,938) | 45,140,886 |
Accrued compensation (in shares) | 0 | 0 | 29,316 | |||
Accrued compensation | $ 0 | $ 0 | $ 293 | 172,207 | 0 | 172,500 |
Employee stock plan (in shares) | 0 | 0 | 13,901 | |||
Employee stock plan | $ 0 | $ 0 | $ 139 | 56,438 | 0 | $ 56,577 |
Stock buyback (in shares) | 0 | 0 | (7,600) | (7,600) | ||
Stock buyback | $ 0 | $ 0 | $ (76) | (41,200) | 0 | $ (41,276) |
Preferred Dividends-Declared | 0 | 0 | 0 | 0 | (146,611) | (146,611) |
Net income | $ 0 | $ 0 | $ 0 | 0 | 946,817 | 946,817 |
Balance (in shares) at Sep. 30, 2021 | 625,375 | 212,402 | 19,387,552 | |||
Balance at Sep. 30, 2021 | $ 6,254 | $ 2,124 | $ 193,878 | 74,486,369 | (28,559,732) | 46,128,893 |
Balance (in shares) at Jun. 30, 2021 | 625,375 | 212,402 | 19,351,935 | |||
Balance at Jun. 30, 2021 | $ 6,254 | $ 2,124 | $ 193,522 | 74,298,924 | (29,359,938) | 45,140,886 |
Net income | 2,906,901 | |||||
Balance (in shares) at Mar. 31, 2022 | 625,375 | 212,402 | 18,637,929 | |||
Balance at Mar. 31, 2022 | $ 6,254 | $ 2,124 | $ 186,382 | 69,498,487 | (26,892,870) | 42,800,377 |
Balance (in shares) at Sep. 30, 2021 | 625,375 | 212,402 | 19,387,552 | |||
Balance at Sep. 30, 2021 | $ 6,254 | $ 2,124 | $ 193,878 | 74,486,369 | (28,559,732) | 46,128,893 |
Accrued compensation (in shares) | 0 | 0 | 11,464 | |||
Accrued compensation | $ 0 | $ 0 | $ 115 | 61,832 | 0 | $ 61,947 |
Stock buyback (in shares) | 0 | 0 | (244,552) | (244,552) | ||
Stock buyback | $ 0 | $ 0 | $ (2,446) | (1,427,252) | 0 | $ (1,429,698) |
Preferred Dividends-Declared | 0 | 0 | 0 | 0 | (146,611) | (146,611) |
Net income | $ 0 | $ 0 | $ 0 | 0 | 872,068 | 872,068 |
Balance (in shares) at Dec. 31, 2021 | 625,375 | 212,402 | 19,154,464 | |||
Balance at Dec. 31, 2021 | $ 6,254 | $ 2,124 | $ 191,547 | 73,120,949 | (27,834,275) | 45,486,599 |
Accrued compensation (in shares) | 0 | 0 | 10,639 | |||
Accrued compensation | $ 0 | $ 0 | $ 106 | 61,144 | 0 | 61,250 |
Employee stock plan (in shares) | 0 | 0 | 11,202 | |||
Employee stock plan | $ 0 | $ 0 | $ 112 | 52,488 | 0 | $ 52,600 |
Stock buyback (in shares) | 0 | 0 | (538,376) | (538,376) | ||
Stock buyback | $ 0 | $ 0 | $ (5,383) | (3,736,094) | 0 | $ (3,741,477) |
Preferred Dividends-Declared | 0 | 0 | 0 | 0 | (146,611) | (146,611) |
Net income | $ 0 | $ 0 | $ 0 | 0 | 1,088,016 | 1,088,016 |
Balance (in shares) at Mar. 31, 2022 | 625,375 | 212,402 | 18,637,929 | |||
Balance at Mar. 31, 2022 | $ 6,254 | $ 2,124 | $ 186,382 | $ 69,498,487 | $ (26,892,870) | $ 42,800,377 |
Note 1 - Overview of Operations
Note 1 - Overview of Operations and Basis for Presentation | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE 1. OVERVIEW OF OPERATIONS AND BASIS FOR PRESENTATION Overview Park City Group, Inc., a Nevada corporation (“ Park City Group We us our Company SaaS ReposiTrak B2B The Company’s services are grouped in three MarketPlace B2B Compliance and Food Safety Supply Chain The Company’s Supply Chain and MarketPlace services provide its customers with greater flexibility in sourcing products by enabling them to choose new suppliers and integrate them into their supply chain faster and more cost effectively, and it helps them to more efficiently manage these relationships, enhancing revenue while lowering working capital, labor costs and waste. The Company’s Compliance and Food Safety solutions help reduce a company’s potential regulatory, legal, and criminal risk from its supply chain partners by providing a way for them to ensure these suppliers are compliant with food safety regulations, such as the Food Safety Modernization Act of 2011 FSMA The Company’s services are delivered though proprietary software products designed, developed, marketed and supported by the Company. These products provide visibility and facilitate improved business processes among all key constituents in the supply chain, starting with the retailer and moving backwards to suppliers and eventually to raw material providers. The Company provides cloud-based applications and services that address e-commerce, supply chain, food safety and compliance activities. The principal customers for the Company’s products are household name multi-store food retail chains and their suppliers, branded food manufacturers, food wholesalers and distributors, and other food service businesses. The Company has a hub and spoke business model. The Company is typically engaged by retailers and wholesalers (“ Hubs Spokes The Company is incorporated in the state of Nevada and has three principal subsidiaries: PC Group, Inc., a Utah corporation (98.76% owned) (“ PCG Utah PCG Delaware Subsidiaries no The Company’s principal executive offices are located at 5282 D292, 84107. 435 645 2000. Basis of Financial Statement Presentation The interim financial information of the Company as of March 31, 2022 three nine March 31, 2022 June 30, 2021 U.S. GAAP 10 June 30, 2021. three nine March 31, 2022 not June 30, 2022. 10 June 30, 2021. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The financial statements presented herein reflect the consolidated financial position of Park City Group, Inc. and our subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that materially affect the amounts reported in the consolidated financial statements. Actual results could differ from these estimates. The methods, estimates, and judgments the Company uses in applying its most critical accounting policies have a significant impact on the results it reports in its financial statements. The U.S. Securities and Exchange Commission (“ SEC Revenue Recognition We recognize revenue as we transfer control of deliverables (products, solutions and services) to our customers in an amount reflecting the consideration to which we expect to be entitled. To recognize revenue, we apply the following five 1 2 3 4 5 We may may not not For performance obligations where control is transferred over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the deliverables to be provided. Revenue related to fixed-price contracts for application development and systems integration services, consulting or other technology services is recognized as the service is performed using the output method, under which the total value of revenue is recognized based on each contract’s deliverable(s) as they are completed and when value is transferred to a customer. Revenue related to fixed-price application maintenance, testing and business process services is recognized based on our right to invoice for services performed for contracts in which the invoicing is representative of the value being delivered, in accordance with the practical expedient in ASC 606 10 55 18. If our invoicing is not 606 10 55 18. not Revenue related to our software license arrangements that do not Revenue related to transaction-based or volume-based contracts is recognized over the period the services are provided in a manner that corresponds with the value transferred to the customer to-date relative to the remaining services to be provided. From time-to-time, we may third first not, may We provide customers with assurance that the related deliverable will function as the parties intended because it complies with agreed-upon specifications. General updates or patch fixes are not Variable consideration is estimated using either the sum of probability weighted amounts in a range of possible consideration amounts (expected value), or the single most likely amount in a range of possible consideration amounts (most likely amount), depending on which method better predicts the amount of consideration to which we may not may We assess the timing of the transfer of goods or services to the customer as compared to the timing of payments to determine whether a significant financing component exists. As a practical expedient, we do not no not not Trade Accounts Receivable and Contract Balances We classify our right to consideration in exchange for deliverables as either a receivable or a contract asset (unbilled receivable). A receivable is a right to consideration that is unconditional (i.e., only the passage of time is required before payment is due). For example, we recognize a receivable for revenue related to our transaction or volume-based contracts when earned regardless of whether amounts have been billed. We present such receivables in trade accounts receivable, net in our consolidated statements of financial position at their net estimated realizable value. We maintain an allowance for doubtful accounts to provide for the estimated amount of receivables that may not A contract asset is a right to consideration that is conditional upon factors other than the passage of time. Contract assets are presented in current and other assets in our consolidated balance sheets and primarily relate to unbilled amounts on fixed-price contracts utilizing the output method of revenue recognition. The table below shows movements in contract assets: Contract assets Balance – December 31, 2021 $ 996,609 Revenue recognized during the period but not billed - Amounts reclassified to accounts receivable (149,466 ) Other 24,231 Balance – March 31, 2022 $ 871,374 (1) ( 1 Contract asset balances for March 31, 2022 Our contract assets and liabilities are reported at the end of each reporting period. The difference between the opening and closing balances of our contract assets and deferred revenue primarily results from the timing difference between our performance obligations and the customer’s payment. We receive payments from customers based on the terms established in our contracts, which may The table below shows movements in the deferred revenue balances (current and noncurrent) for the period: Contract liability Balance – December 31, 2021 $ 1,657,859 Amounts billed but not recognized as revenue 991,099 Revenue recognized related to the opening balance of deferred revenue (1,106,938 ) Other - Balance – March 31, 2022 $ 1,542,020 Our contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. The difference between the opening and closing balances of our contract assets and deferred revenue primarily results from the timing difference between our performance obligations and the customer’s payment. We receive payments from customers based on the terms established in our contracts, which may Disaggregation of Revenue The table below presents disaggregated revenue from contracts with customers by contract-type. We believe this disaggregation best depicts the nature, amount, timing and uncertainty of our revenue and cash flows that may Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 Recurring – Subscription, Support and Services $ 4,553,844 $ 4,245,247 $ 13,259,456 $ 12,263,945 Non-Recurring – Services - 326,535 81,618 584,394 Transaction Based – MarketPlace 2,062 1,450,758 128,096 3,573,807 $ 4,555,906 $ 6,022,540 $ 13,469,170 $ 16,422,146 Earnings Per Share Basic net income per share of Common Stock (“ Basic EPS Diluted EPS not The following table presents the components of the computation of basic and diluted earnings per share for the periods indicated: Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 Numerator Net income applicable to common shareholders $ 941,405 $ 626,586 $ 2,467,068 $ 2,511,049 Denominator Weighted average common shares outstanding, basic 19,019,000 19,555,000 19,255,000 19,511,000 Warrants to purchase common stock 403,000 387,000 324,000 233,000 Weighted average common shares outstanding, diluted 19,422,000 19,942,000 19,579,000 19,744,000 Net income per share Basic $ 0.05 $ 0.03 $ 0.13 $ 0.13 Diluted $ 0.05 $ 0.03 $ 0.13 $ 0.13 Reclassifications Certain prior year amounts have been reclassified to conform with the current year’s presentation. These reclassifications have no |
Note 3 - Equity
Note 3 - Equity | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 3. EQUITY Restricted Stock Units Restricted Stock Units Weighted Average Grant Date Fair Value ($/share) Outstanding at December 31, 2021 897,731 $ 5.35 Granted 30,940 5.16 Vested and issued (940 ) 5.32 Forfeited (16,873 ) 5.35 Outstanding at March 31, 2022 910,858 $ 5.35 As of March 31, 2022, not As of March 31, 2022, 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. March 31, 2022: Warrants Outstanding at March 31, 2022 Warrants Exercisable at March 31, 2022 Range of exercise prices Number Outstanding Weighted average remaining contractual life (years) Weighted average exercise price Number exercisable Weighted average exercise price $ 4.00 1,085,068 0.85 $ 4.00 1,085,068 $ 4.00 $ 10.00 23,737 0.82 $ 10.00 23,737 $ 10.00 1,108,805 0.85 $ 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 Section 4 1 Series B- 1 1 1 ten Redemption Notice As of March 31, 2022, 1 Share Repurchase Program On May 9, 2019, may not Share Repurchase Program 12b 18 On March 17, 2020, 19 May 18, 2021, $4.0 May 18, 2021, may On August 31, 2021, March 31, 2022. may The following table provides information about repurchases of our Common Stock registered pursuant to Section 12 nine March 31, 2022: Period (1) Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Remaining Amount Available for Future Share Repurchases Under the Plans or Programs July 1, 2021 – September 30, 2021: 7,600 $ 5.43 718,394 $ 12,009,609 October 1, 2021 – December 31, 2021: 244,552 $ 5.85 962,946 $ 10,579,912 January 1, 2022 – March 31, 2022: 538,376 $ 6.95 1,501,322 $ 6,838,434 ( 1 We close our books and records on the last calendar day of each month to align our financial closing with our business processes. |
Note 4 - Related Party Transact
Note 4 - Related Party Transactions | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 4. RELATED PARTY TRANSACTIONS During the three March 31, 2022, FMI March 31, 2022 June 30, 2021, |
Note 5 - Recent Accounting Pron
Note 5 - Recent Accounting Pronouncements | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | NOTE 5. RECENT ACCOUNTING PRONOUNCEMENTS The Company has reviewed newly issued accounting pronouncements and concluded that they are either not no |
Note 6 - Subsequent Events
Note 6 - Subsequent Events | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 6. SUBSEQUENT EVENTS In accordance with the Subsequent Events Topic of the FASB ASC 855, no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The financial statements presented herein reflect the consolidated financial position of Park City Group, Inc. and our subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that materially affect the amounts reported in the consolidated financial statements. Actual results could differ from these estimates. The methods, estimates, and judgments the Company uses in applying its most critical accounting policies have a significant impact on the results it reports in its financial statements. The U.S. Securities and Exchange Commission (“ SEC |
Revenue [Policy Text Block] | Revenue Recognition We recognize revenue as we transfer control of deliverables (products, solutions and services) to our customers in an amount reflecting the consideration to which we expect to be entitled. To recognize revenue, we apply the following five 1 2 3 4 5 We may may not not For performance obligations where control is transferred over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the deliverables to be provided. Revenue related to fixed-price contracts for application development and systems integration services, consulting or other technology services is recognized as the service is performed using the output method, under which the total value of revenue is recognized based on each contract’s deliverable(s) as they are completed and when value is transferred to a customer. Revenue related to fixed-price application maintenance, testing and business process services is recognized based on our right to invoice for services performed for contracts in which the invoicing is representative of the value being delivered, in accordance with the practical expedient in ASC 606 10 55 18. If our invoicing is not 606 10 55 18. not Revenue related to our software license arrangements that do not Revenue related to transaction-based or volume-based contracts is recognized over the period the services are provided in a manner that corresponds with the value transferred to the customer to-date relative to the remaining services to be provided. From time-to-time, we may third first not, may We provide customers with assurance that the related deliverable will function as the parties intended because it complies with agreed-upon specifications. General updates or patch fixes are not Variable consideration is estimated using either the sum of probability weighted amounts in a range of possible consideration amounts (expected value), or the single most likely amount in a range of possible consideration amounts (most likely amount), depending on which method better predicts the amount of consideration to which we may not may We assess the timing of the transfer of goods or services to the customer as compared to the timing of payments to determine whether a significant financing component exists. As a practical expedient, we do not no not not |
Accounts Receivable [Policy Text Block] | Trade Accounts Receivable and Contract Balances We classify our right to consideration in exchange for deliverables as either a receivable or a contract asset (unbilled receivable). A receivable is a right to consideration that is unconditional (i.e., only the passage of time is required before payment is due). For example, we recognize a receivable for revenue related to our transaction or volume-based contracts when earned regardless of whether amounts have been billed. We present such receivables in trade accounts receivable, net in our consolidated statements of financial position at their net estimated realizable value. We maintain an allowance for doubtful accounts to provide for the estimated amount of receivables that may not A contract asset is a right to consideration that is conditional upon factors other than the passage of time. Contract assets are presented in current and other assets in our consolidated balance sheets and primarily relate to unbilled amounts on fixed-price contracts utilizing the output method of revenue recognition. The table below shows movements in contract assets: Contract assets Balance – December 31, 2021 $ 996,609 Revenue recognized during the period but not billed - Amounts reclassified to accounts receivable (149,466 ) Other 24,231 Balance – March 31, 2022 $ 871,374 (1) ( 1 Contract asset balances for March 31, 2022 Our contract assets and liabilities are reported at the end of each reporting period. The difference between the opening and closing balances of our contract assets and deferred revenue primarily results from the timing difference between our performance obligations and the customer’s payment. We receive payments from customers based on the terms established in our contracts, which may The table below shows movements in the deferred revenue balances (current and noncurrent) for the period: Contract liability Balance – December 31, 2021 $ 1,657,859 Amounts billed but not recognized as revenue 991,099 Revenue recognized related to the opening balance of deferred revenue (1,106,938 ) Other - Balance – March 31, 2022 $ 1,542,020 Our contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. The difference between the opening and closing balances of our contract assets and deferred revenue primarily results from the timing difference between our performance obligations and the customer’s payment. We receive payments from customers based on the terms established in our contracts, which may |
Revenue from Contract with Customer [Policy Text Block] | Disaggregation of Revenue The table below presents disaggregated revenue from contracts with customers by contract-type. We believe this disaggregation best depicts the nature, amount, timing and uncertainty of our revenue and cash flows that may Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 Recurring – Subscription, Support and Services $ 4,553,844 $ 4,245,247 $ 13,259,456 $ 12,263,945 Non-Recurring – Services - 326,535 81,618 584,394 Transaction Based – MarketPlace 2,062 1,450,758 128,096 3,573,807 $ 4,555,906 $ 6,022,540 $ 13,469,170 $ 16,422,146 |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Basic net income per share of Common Stock (“ Basic EPS Diluted EPS not The following table presents the components of the computation of basic and diluted earnings per share for the periods indicated: Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 Numerator Net income applicable to common shareholders $ 941,405 $ 626,586 $ 2,467,068 $ 2,511,049 Denominator Weighted average common shares outstanding, basic 19,019,000 19,555,000 19,255,000 19,511,000 Warrants to purchase common stock 403,000 387,000 324,000 233,000 Weighted average common shares outstanding, diluted 19,422,000 19,942,000 19,579,000 19,744,000 Net income per share Basic $ 0.05 $ 0.03 $ 0.13 $ 0.13 Diluted $ 0.05 $ 0.03 $ 0.13 $ 0.13 |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Certain prior year amounts have been reclassified to conform with the current year’s presentation. These reclassifications have no |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Contract assets Balance – December 31, 2021 $ 996,609 Revenue recognized during the period but not billed - Amounts reclassified to accounts receivable (149,466 ) Other 24,231 Balance – March 31, 2022 $ 871,374 (1) Contract liability Balance – December 31, 2021 $ 1,657,859 Amounts billed but not recognized as revenue 991,099 Revenue recognized related to the opening balance of deferred revenue (1,106,938 ) Other - Balance – March 31, 2022 $ 1,542,020 |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 Recurring – Subscription, Support and Services $ 4,553,844 $ 4,245,247 $ 13,259,456 $ 12,263,945 Non-Recurring – Services - 326,535 81,618 584,394 Transaction Based – MarketPlace 2,062 1,450,758 128,096 3,573,807 $ 4,555,906 $ 6,022,540 $ 13,469,170 $ 16,422,146 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 Numerator Net income applicable to common shareholders $ 941,405 $ 626,586 $ 2,467,068 $ 2,511,049 Denominator Weighted average common shares outstanding, basic 19,019,000 19,555,000 19,255,000 19,511,000 Warrants to purchase common stock 403,000 387,000 324,000 233,000 Weighted average common shares outstanding, diluted 19,422,000 19,942,000 19,579,000 19,744,000 Net income per share Basic $ 0.05 $ 0.03 $ 0.13 $ 0.13 Diluted $ 0.05 $ 0.03 $ 0.13 $ 0.13 |
Note 3 - Equity (Tables)
Note 3 - Equity (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Restricted Stock Units Restricted Stock Units Weighted Average Grant Date Fair Value ($/share) Outstanding at December 31, 2021 897,731 $ 5.35 Granted 30,940 5.16 Vested and issued (940 ) 5.32 Forfeited (16,873 ) 5.35 Outstanding at March 31, 2022 910,858 $ 5.35 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrants Outstanding at March 31, 2022 Warrants Exercisable at March 31, 2022 Range of exercise prices Number Outstanding Weighted average remaining contractual life (years) Weighted average exercise price Number exercisable Weighted average exercise price $ 4.00 1,085,068 0.85 $ 4.00 1,085,068 $ 4.00 $ 10.00 23,737 0.82 $ 10.00 23,737 $ 10.00 1,108,805 0.85 $ 4.13 1,108,805 $ 4.13 |
Share Repurchase Program [Table Text Block] | Period (1) Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Remaining Amount Available for Future Share Repurchases Under the Plans or Programs July 1, 2021 – September 30, 2021: 7,600 $ 5.43 718,394 $ 12,009,609 October 1, 2021 – December 31, 2021: 244,552 $ 5.85 962,946 $ 10,579,912 January 1, 2022 – March 31, 2022: 538,376 $ 6.95 1,501,322 $ 6,838,434 |
Note 1 - Overview of Operatio_2
Note 1 - Overview of Operations and Basis for Presentation (Details Textual) | Mar. 31, 2022 |
Number of Subsidiaries | 3 |
PC Group, Inc. [Member] | UTAH | |
Ownership interest by parent | 98.76% |
Park City Group, Inc. [Member] | DELAWARE | |
Ownership interest by parent | 100.00% |
ReposiTrak [Member] | UTAH | |
Ownership interest by parent | 100.00% |
Note 2 - Significant Accounti_3
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) | Mar. 31, 2022 | Jun. 30, 2021 |
Contract with Customer, Asset, after Allowance for Credit Loss, Current, Total | $ 665,322 | $ 1,248,936 |
Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent, Total | $ 206,052 | $ 408,925 |
Note 2 - Significant Accounti_4
Note 2 - Significant Accounting Policies - Schedule of Changes in Contract Assets and Liabilities (Details) | 3 Months Ended | |
Mar. 31, 2022USD ($) | ||
Balance | $ 996,609 | |
Amounts reclassified to accounts receivable | (149,466) | |
Other | 24,231 | |
Balance | 871,374 | [1] |
Balance | 1,657,859 | |
Amounts billed but not recognized as revenue | 991,099 | |
Revenue recognized related to the opening balance of deferred revenue | (1,106,938) | |
Other | 0 | |
Balance | $ 1,542,020 | |
[1] | Contract asset balances for March 31, 2022 include a current and a long-term contract asset of $665,322 and $206,052, respectively. |
Note 2 - Significant Accounti_5
Note 2 - Significant Accounting Policies - Schedule of Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Revenue from Contract with Customer | $ 4,555,906 | $ 6,022,540 | $ 13,469,170 | $ 16,422,146 |
Subscription and Support [Member] | ||||
Revenue from Contract with Customer | 4,553,844 | 4,245,247 | 13,259,456 | 12,263,945 |
Professional Services [Member] | ||||
Revenue from Contract with Customer | 0 | 326,535 | 81,618 | 584,394 |
Transaction Based [Member] | ||||
Revenue from Contract with Customer | $ 2,062 | $ 1,450,758 | $ 128,096 | $ 3,573,807 |
Note 2 - Significant Accounti_6
Note 2 - Significant Accounting Policies - Schedule of Earnings Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Net income applicable to common shareholders | $ 941,405 | $ 626,586 | $ 2,467,068 | $ 2,511,049 |
Weighted average shares, basic (in shares) | 19,019,000 | 19,555,000 | 19,255,000 | 19,511,000 |
Warrants to purchase common stock (in shares) | 403,000 | 387,000 | 324,000 | 233,000 |
Weighted average shares, diluted (in shares) | 19,422,000 | 19,942,000 | 19,579,000 | 19,744,000 |
Basic (in dollars per share) | $ 0.05 | $ 0.03 | $ 0.13 | $ 0.13 |
Diluted (in dollars per share) | $ 0.05 | $ 0.03 | $ 0.13 | $ 0.13 |
Note 3 - Equity (Details Textua
Note 3 - Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Aug. 31, 2021 | Mar. 31, 2022 | Aug. 18, 2021 | Mar. 31, 2022 | Jun. 30, 2021 | May 18, 2021 | May 09, 2019 |
Preferred Stock, Shares Authorized (in shares) | 30,000,000 | 30,000,000 | 30,000,000 | ||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | ||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 18,637,929 | 18,637,929 | 19,351,935 | ||||
Stock Repurchase Program, Authorized Amount | $ 6 | $ 4 | |||||
Stock Repurchase Program, Period in Force (Month) | 24 months | ||||||
Stock Repurchase Program, Increase in Authorized Amount | $ 10 | ||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 6,838,434 | $ 6,838,434 | |||||
Blank Check [Member] | |||||||
Preferred Stock, Shares Authorized (in shares) | 30,000,000 | 30,000,000 | |||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 | |||||
Series B Preferred Stock [Member] | |||||||
Preferred Stock, Shares Authorized (in shares) | 700,000 | 700,000 | 700,000 | ||||
Preferred Stock, Shares, Number (in shares) | 700,000 | ||||||
Preferred Stock, Shares Issued, Total (in shares) | 625,375 | 625,375 | 625,375 | ||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 625,375 | 625,375 | 625,375 | ||||
Series B-1 Preferred Stock [Member] | |||||||
Preferred Stock, Shares Authorized (in shares) | 550,000 | 550,000 | 550,000 | ||||
Preferred Stock, Shares, Number (in shares) | 550,000 | ||||||
Preferred Stock, Cash, Dividend Rate, Percentage | 7.00% | ||||||
Preferred Stock, Series B Preferred Shares, Dividend Rate, Percentage | 9.00% | ||||||
Preferred Stock, Redemption Price Per Share (in dollars per share) | $ 10.70 | $ 10.70 | |||||
Preferred Stock, Shares Issued, Total (in shares) | 212,402 | 212,402 | 212,402 | ||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 212,402 | 212,402 | 212,402 | ||||
Share-Based Payment Arrangement, Nonemployee [Member] | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 4.9 | $ 4.9 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 11 months 23 days | ||||||
Share-Based Payment Arrangement, Nonemployee [Member] | Restricted Stock Units (RSUs) [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance (in shares) | 910,858 | 910,858 | |||||
Share-Based Payment Arrangement, Nonemployee [Member] | Restricted Stock Units (RSUs) [Member] | Vested and Unissued [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance (in shares) | 16,148 | 16,148 |
Note 3 - Equity - Schedule of R
Note 3 - Equity - Schedule of Restricted Stock Units (Details) - Share-Based Payment Arrangement, Nonemployee [Member] | 3 Months Ended |
Mar. 31, 2022$ / sharesshares | |
Restricted Stock [Member] | |
Outstanding (in shares) | shares | 897,731 |
Granted (in shares) | shares | 30,940 |
Restricted Stock Units (RSUs) [Member] | |
Outstanding (in dollars per share) | $ / shares | $ 5.35 |
Granted (in dollars per share) | $ / shares | $ 5.16 |
Vested and issued (in shares) | shares | (940) |
Vested and issued (in dollars per share) | $ / shares | $ 5.32 |
Forfeited (in shares) | shares | (16,873) |
Forfeited (in dollars per share) | $ / shares | $ 5.35 |
Outstanding (in shares) | shares | 910,858 |
Outstanding (in dollars per share) | $ / shares | $ 5.35 |
Note 3 - Equity - Schedule of W
Note 3 - Equity - Schedule of Warrants (Details) | 9 Months Ended |
Mar. 31, 2022$ / sharesshares | |
Class of Warrant or Right, Outstanding (in shares) | shares | 1,108,805 |
Class of Warrant or Right, Weighted Average Remaining Contractual Term (Year) | 10 months 6 days |
Class of Warrant or Right, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 4.13 |
Class of Warrant or Right, Warrants, Exercisable, Number (in shares) | shares | 1,108,805 |
Class of Warrant or Right, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 4.13 |
Exercise Price, Four Dollars, Minimum [Member] | |
Class of Warrant or Right, Outstanding (in shares) | shares | 1,085,068 |
Class of Warrant or Right, Weighted Average Remaining Contractual Term (Year) | 10 months 6 days |
Class of Warrant or Right, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 4 |
Class of Warrant or Right, Warrants, Exercisable, Number (in shares) | shares | 1,085,068 |
Class of Warrant or Right, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 4 |
Exercise Price, Ten Dollars, Maximum [Member] | |
Class of Warrant or Right, Outstanding (in shares) | shares | 23,737 |
Class of Warrant or Right, Weighted Average Remaining Contractual Term (Year) | 9 months 25 days |
Class of Warrant or Right, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 10 |
Class of Warrant or Right, Warrants, Exercisable, Number (in shares) | shares | 23,737 |
Class of Warrant or Right, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 10 |
Note 3 - Equity - Share Repurch
Note 3 - Equity - Share Repurchase Program (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | |
Total number of shares purchased (in shares) | 538,376 | 244,552 | 7,600 |
Average price paid per share (in dollars per share) | $ 6.95 | $ 5.85 | $ 5.43 |
Amount available for future share repurchases under the plans or programs | $ 6,838,434,000,000 | ||
Share Repurchase Program [Member] | |||
Total number of shares purchased (in shares) | 1,501,322 | 962,946 | 718,394 |
Amount available for future share repurchases under the plans or programs | $ 6,838,434 | $ 10,579,912 | $ 12,009,609 |
Note 4 - Related Party Transa_2
Note 4 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Fields Management Service Agreement [Member] | ||
Due to Related Parties, Total | $ 0 | $ 0 |