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Stock Options (Tables)
3 Months Ended
Sep. 30, 2016
Stock Options Tables  
Schedule of Stock option grants for each respective period

Stock option transactions under the Company’s plans for the years ended June 30, 2016 is summarized below:

            Weighted    
        Weighed-   Average   Aggregate
        Average   Remaining   Intrinsic
    Shares   Exercise   Contractual   Value
Options   (Thousand)   Price   Term   (Thousand)
  Outstanding at July 1, 2015       —         —         —         —    
  Granted       3,000       0.06       2       —    
  Exercised       —         —         —         —    
  Forfieted       —         —         —         —    
  Outstanding at June 30, 2016       3,000       0.06       2          
  Granted       —         —         —         —    
  Exercised       —         —         —         —    
  Forfieted       —         —         —         —    
  Outstanding at September 30, 2016       3,000       0.06       2          

 

The compensation expense includes $8,848 related to the stock options described above.

Valuation model to value stock option grants

The following key assumptions were used in the valuation model to value stock option grants for each respective period:

 

Valuation Date   4/11/2016   4/11/2016   4/11/2016
Stock Price   $ 0.06     $ 0.06     $ 0.06  
Exercise Price   $ 0.06     $ 0.06     $ 0.06  
Term (expected term for options)     1.00       2.00       3.00  
Volatility     56.49 %     58.45 %     97.82 %
Annual Rate of Quarterly Dividends     0.00 %     0.00 %     0.00 %
Discount Rate - Bond Equivalent Yield     0.53 %     0.70 %     0.85 %
Call Option Value ($Millions)   $ 0.01     $ 0.02     $ 0.04  
Fair Value   $ 13,467     $ 19,523     $ 36,489