Warrant Modification |
12 Months Ended |
|---|---|
Jun. 30, 2018 | |
| Notes to Financial Statements | |
| Note 7 - Warrant Modification |
During the year ended June 30, 2018, the Company extended 3,860,000 warrants. In accordance with ASC 718-20-35-3 a modification of the terms or conditions of an equity award shall be treated as an exchange of the original award for a new award. In substance, the entity repurchases the original instrument by issuing a new instrument of equal or greater value, incurring additional compensation cost for any incremental value. During the years ended June 30, 2018 and 2017, the Company recognized $110,593 and $46,550, respectively, in compensation expense and additional paid in capital related to the extension of these warrants. |