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Note 4 - Stockholders' Equity
9 Months Ended
Mar. 31, 2018
Notes  
Note 4 - Stockholders' Equity

NOTE 4 – STOCKHOLDERS’ EQUITY

 

The Company’s authorized capital consists of 2,000,000,000 shares of common stock with a par value of $0.001 per share and 8,500,000 shares of preferred stock with a par value of $0.001 per share.

 

On July 13, 2017, Typenex elected to convert $5,960 of its convertible promissory note in the principal amount of $115,000 into 1,245 shares of the company’s common stock at a conversion price of $4.79.

 

On August 1, 2017, Typenex elected to convert $11,500 of its convertible promissory note in the principal amount of $115,000 into 1,668 shares of the company’s common stock at a conversion price of $6.89.

 

On August 14, 2017, Typenex elected to convert 11,750 of its convertible promissory note in the principal amount of $115,000 into 1,704 shares of the company’s common stock at a conversion price of $6,89.

 

On August 29, 2017, Typenex elected to convert $8,550 of its convertible promissory note in the principal amount of $115,000 into 1,717 shares of the company’s common stock at a conversion price of $4.98.

 

On September 15, 2017, Typenex elected to convert $7,892 of its convertible promissory note in the principal amount of $115,000 into 1,717 shares of the company’s common stock at a conversion price of $4.60.

 

On September 25, 2017, Typenex elected to convert $7,893 of its convertible promissory note in the principal amount of $115,000 into 1,717 shares of the company’s common stock at a conversion price of $4.60.

 

On October 23, 2017, Adar Bays LLC elected to convert $5,000 of its convertible promissory note in the principal amount of $30,000 into 1,305 shares of the company’s common stock at a conversion price of $3.83. The principal remaining after conversion was $25,000.

 

On November 2, 2017, Adar Bays LLC elected to convert $4,890.85 of its convertible promissory note in the principal amount of $30,000 into 1,702 shares of the company’s common stock at a conversion price of $2.87. The principal remaining after conversion was $20,109.15.

 

On November 9, 2017, Adar Bays LLC elected to convert $5,134.9 of its convertible promissory note in the principal amount of $30,000 into 1,787 shares of the company’s common stock at a conversion price of $2.87. The principal remaining after conversion was $14,974.25.

 

On November 10, 2017, Adar Bays LLC elected to convert $5,391.13 of its convertible promissory note in the principal amount of $30,000 into 1,877 shares of the company’s common stock at a conversion price of $2.87. The principal remaining after conversion was $9,583.13.

 

On November 22, 2017, Adar Bays LLC elected to convert $5,660.15 of its convertible promissory note in the principal amount of $30,000 into 1,970 shares of the company’s common stock at a conversion price of $2.87. The principal remaining after conversion was $3,922.97.

 

On December 6, 2017, Adar Bays LLC elected to convert $3,000 of its convertible promissory note in the principal amount of $30,000 into 1,566 shares of the company’s common stock at a conversion price of $1.92. The principal remaining after conversion was $922.97.

 

On December 13, 2017, Adar Bays LLC elected to convert the remaining $922.97 of its convertible promissory note in the principal amount of $30,000, plus another $1,809.54 of accrued interest into 1,427 shares of the company’s common stock at a conversion price of $13.33. The principal remaining after conversion was $0.

 

On January 24, 2018, Adar Bays LLC elected to convert $2,123.89 of its convertible promissory note in the principal amount of $15,000 into 2,218 shares of the company’s common stock at a conversion price of $0.96. The principal remaining after conversion was $12,876.11.

 

On January 26, 2018, Typenex elected to convert $7,550 of its convertible promissory note in the principal amount of $115,000 into 3,942 shares of the company’s common stock at a conversion price of $1.92.

 

On February 7, 2018, Adar Bays LLC elected to convert $4,836.49 of its convertible promissory note in the principal amount of $15,000 into 2,525 shares of the company’s common stock at a conversion price of $1.92. The principal remaining after conversion was $8,039.62.

 

On February 20, 2018, Adar Bays LLC elected to convert $5,001.66 of its convertible promissory note in the principal amount of $15,000 into 2,651 shares of the company’s common stock at a conversion price of $1.89. The principal remaining after conversion was $3,037.96.

 

On February 20, 2018, Typenex elected to convert $6,032.94 of its convertible promissory note in the principal amount of $115,000 into 3,150 shares of the company’s common stock at a conversion price of $1.92.

 

On February 26, 2018, Adar Bays LLC elected to convert the remaining $3,037.96 of its convertible promissory note in the principal amount of $15,000, plus another $680.67 of accrued interest into 1,971 shares of the company’s common stock at a conversion price of $1.54. The principal remaining after conversion was $0.

 

On February 26, 2018, Typenex elected to convert $6,700 of its convertible promissory note in the principal amount of $115,000 into 3,498 shares of the company’s common stock at a conversion price of $1.92.

 

On March 8, 2018, Typenex elected to convert $12,000 of its convertible promissory note in the principal amount of $115,000 into 6,266 shares of the company’s common stock at a conversion price of $1.92.

 

On March 21, 2018, Typenex elected to convert the remaining $8,301.25 of its convertible promissory note in the principal amount of $115,000 into 4,334 shares of the company’s common stock at a conversion price of $1,92. The principal investor remaining balance after conversion was $0.

 

Warrants

 

The Company issued several Notes in prior periods and converted them in the issuance of warrants. The following table summarizes information about the Company’s warrants at March 31, 2018:

 

 

 

Number of

Units

 

Weighted Average

Exercise Price

 

Weighted Average

Remaining

Contractual Term

(in years)

 

Intrinsic

Value

Outstanding at June 30, 2016

3.99

$

-

2.67

$

-

Granted - Warrant 1

 

 

 

 

Exercised - Portion W2

(2.84)

4.78

Granted - Warrant 2

-

 

 

Outstanding at June 30, 2017

 

1.15

-

1.67

Exercised - Remaining W2

 

(1.15)

4.78

 

Granted - Warrant # 3

11.35

 

 

Exercised - Portion W3

(11.35)

-

 

-

Outstanding at March 31, 2018

 

-

$

-

-

$

Exercisable at March 31, 2018

-

$

-

-

$

 

Most of the above warrants were issued in connection to conversion of convertible notes from Typenex Co-Investment, LLC. When the debt is converted, and warrants are issued, the Company determines the fair value of the warrants using the Black-Scholes model and takes a charge to interest expense at the date of issuance.

 

The exercise price for warrants outstanding and exercisable at March 31, 2018 is as follows:

 

Outstanding

 

Exercisable

Number of Warrants

Exercise Price

Number of Warrants

Exercise Price

-

$

-

-

$

-