NOTE 7 - SUBSEQUENT EVENTS

12 Months Ended

Jun. 30, 2015

NOTE 7 – SUBSEQUENT EVENTS

In July 2015 the Board of Directors granted the following stock bonus awards:

To all non-officer employees of Amerityre on record as of July 22, 2015, a one-time stock bonus award of 5,000 shares of the Company’s restricted common stock per employee, valued at $0.03 a share. As of July 22, 2015 there were 16 non-officer employees at Amerityre resulting in 80,000 shares, which were issued in July 2015.

To the officers of Amerityre, 600,000 shares were granted on July 20, 2015 (valued at $0.03) with 75% of the grant allocated to the CEO and 25% of the grant allocated to the CFO. The shares of stock vest ratably each quarter end during fiscal year 2016 and are payable immediately after the vesting date.

In July 2015 the Company leased a piece of equipment for $19,337 which will enable our research and development personnel to complete standard physical property testing in a timelier manner. The lease contains a bargain purchase option and resulting in the capitalization of the equipment and the related debt.

In August 2015, the Board of Directors cancelled the “Directors’ 2011 Stock Option and Award Plan” and adopted the “2015 Omnibus Stock Option and Award Plan” which contains provisions for up to 3,000,000 stock options to be granted to employees, consultants and directors.