v2.4.1.9
NOTE 5 - STOCK OPTIONS AND WARRANTS (Tables)
 6 Months Ended
Dec. 31, 2014
Disclosure Text Block Supplement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] We estimated the fair value of the stock options at the grant date based on the following weighted average assumptions:

Risk-free interest rate
    1.190   – 1.345
%
Expected life
    3.8   – 4.5
years
Expected volatility
    147.43 % – 152.40
%
Dividend yield
          0.00
%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] A summary of the status of our outstanding stock options as of December 31, 2014 and June 30, 2014 and changes during the periods then ended is presented below:

   
December 31,  2014
   
June 30,  2014
 
   
Shares
   
Weighted Average
Exercise Price
   
Shares
   
Weighted Average
Exercise Price
 
Outstanding beginning of period
   
1,754,000
   
$
0.17
     
1,904,000
   
$
0.23
 
Granted
   
620,000
   
$
0.10
     
150,000
     
0.08
 
Expired/Cancelled
   
-
   
$
-
     
(300,000
)
   
0.50
 
Exercised
   
-
   
$
-
     
-
     
-
 
Outstanding end of period
   
2,374,000
   
$
0.15
     
  1,754,000
   
$
0.17
 
Exercisable
   
1,894,000
   
$
0.17
     
1,604,000
   
$
0.18
 
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] The following table summarizes the range of outstanding and exercisable options as of December 31, 2014:

     
Outstanding
   
Exercisable
 
 
Range of
Exercise Prices
   
 
Number Outstanding at
December 31, 2014
   
Weighted
Average
Remaining
Contractual Life
   
 
Weighted
Average
Exercise Price
   
 
Number
Exercisable at
December 31, 2014
   
Weighted
Average Remaining
Contractual Life
 
$
0.08
     
150,000
     
6.92
   
$
0.08
     
150,000
     
6.92
 
$
0.10
     
620,000
     
4.96
   
$
0.10
     
140,000
     
4.96
 
$
0.17
     
650,000
     
4.92
   
$
0.17
     
650,000
     
4.92
 
$
0.17
     
400,000
     
5.92
   
$
0.17
     
400,000
     
5.92
 
$
0.17
     
400,000
     
5.92
   
$
0.17
     
400,000
     
5.92
 
$
0.29
     
154,000
     
0.50
   
$
0.29
     
154,000
     
0.50
 
         
2,374,000
                     
1,894,000