v3.20.1

STOCK OPTIONS AND WARRANTS

9 Months Ended

Mar. 31, 2020

Disclosure Text Block Supplement [Abstract]

Shareholders' Equity and Share-based Payments [Text Block]

NOTE 6 – STOCK OPTIONS AND WARRANTS

Prior Issuances of options

On January 1, 2018, 480,000 options were granted to the Company’s Chief Executive Officer as part of his employment offer.  The options have an exercise price of $0.10, vest ratably January 1, 2018 to December 31, 2018 and expire December 31, 2021.  We estimated the fair value of the stock options above at the grant date based on the following weighted average assumptions:

Risk-free interest rate			2.010	%
Expected life			3.0	years
Expected volatility			114.38	%
Dividend yield			0.00	%

A summary of the status of our outstanding stock options as of March 31, 2020 and June 30, 2019 and changes during the periods then ended is presented below:

		March 31, 2020												June 30, 2019
						Weight Average				Intrinsic								Weight Average				Intrinsic
		Shares				Exercise Price				Value				Shares				Exercise Price				Value
Outstanding beginning of period			3,970,000			$	0.12								3,730,000			$	0.13
Granted			-			$	0.00								480,000			$	0.10
Expired/Cancelled			(1,100,000	)		$	(0.14	)							(240,000	)		$	(0.10	)
Exercised			-			$	0.00								-			$	0.00
Outstanding end of period			2,870,000			$	0.12			$	-				3,970,000			$	0.12			$	-
Exercisable			2,870,000			$	0.12			$	-				3,970,000			$	0.12			$	-

The following table summarizes the range of outstanding and exercisable options as of March 31, 2020:

				Outstanding												Exercisable
Range of Exercise Prices				Number Outstanding at March 31, 2020				Weighted Average Remaining Contractual Life				Weighted Average Exercise Price				Number Exercisable at March 31, 2020				Weighted Average Remaining Contractual Life
$	0.08				150,000				1.67			$	0.08				150,000				1.67
$	0.10				1,920,000				0.94			$	0.10				1,920,000				0.94
$	0.17				800,000				1.17			$	0.17				800,000				1.17
					2,870,000												2,870,000

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- Definition

The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

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