v3.20.2

STOCK OPTIONS AND WARRANTS

3 Months Ended

Sep. 30, 2020

Disclosure Text Block Supplement [Abstract]

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

NOTE 6 – STOCK TRANSACTIONS, OPTIONS AND WARRANTS

On July 22, 2020, the Board of Directors adopted the 2020 Equity Incentive Plan (the “2020 Plan”) which contains provisions for up to 2,500,000 stock-based instruments to be granted to employees, consultants and directors.

Effective September 24, 2020, the Company filed a withdraw of designation related to the 2013 Series Convertible Preferred Stock designation. In doing so, the State of Nevada also withdrew all preferred shares authorized. The Company will file a new designation authorizing preferred shares should this be needed in the future.

No stock or options have been granted as of September 30, 2020 or in fiscal year 2021.

A summary of the status of our outstanding stock options as of September 30, 2020 and June 30, 2020, and changes during these periods is presented below:

		September 30, 2020												June 30, 2020
						Weighted Average				Intrinsic								Weighted Average				Intrinsic
		Shares				Exercise Price				Value				Shares				Exercise Price				Value
Outstanding beginning of period			2,870,000			$	0.12								3,970,000			$	0.12
Granted			-			$	0.00											$	0.00
Expired/Cancelled			-			$	0.00								(1,100,000	)		$	0.10
Exercised			-			$	0.00								-			$	0.00
Outstanding end of period			2,870,000			$	0.12			$	-				2,870,000			$	0.12			$	-
Exercisable			2,870,000			$	0.12			$	-				2,870,000			$	0.12			$	-

				Outstanding												Exercisable
Range of Exercise Prices				Number Outstanding at September 30, 2020				Weighted Average Remaining Contractual Life				Weighted Average Exercise Price				Number Exercisable at September 30, 2020				Weighted Average Remaining Contractual Life
$	0.08				150,000				1.17			$	0.08				150,000				1.17
$	0.10				1,920,000				0.44			$	0.10				1,920,000				0.44
$	0.17				800,000				0.67			$	0.17				800,000				0.67
					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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