v3.22.0.1

STOCK TRANSACTIONS, OPTIONS AND WARRANTS

6 Months Ended

Dec. 31, 2021

Disclosure Text Block Supplement [Abstract]

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

NOTE 6 – STOCK 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 5,000,000 stock-based instruments to be granted to employees, consultants and directors.

On October 26, 2021, the Board of Directors adopted the 2022 Equity Incentive Plan (the “2022 Plan”) which contains provisions for up to 10,000,000 stock-based instruments to be granted to employees, consultants and directors.

Effective September 24, 2020, the Company filed a Certificate of Withdrawal of the Certificate of Designation related to the Company’s 2013 Series Convertible Preferred Stock. In doing so, the 2,000,000 shares of preferred stock previously designated as 2013 Series Convertible Preferred Stock returned to the status of authorized and unissued shares of “blank check” preferred stock, and as a result we now have a total of 5,000,000 shares of preferred stock under our Articles of Incorporation which may be designated in one or more series with such relative rights, preferences and limitations as the Board of Directors may determine. The Company may file one or more new designations authorizing the issuance of preferred shares should this be needed in the future as may be determined by the Board of Directors.

All previously granted stock options expired as of December 31, 2021; no stock options have been granted as of December 31, 2021 or thus far in fiscal year 2022.

A summary of the status of our outstanding stock options as of December 31, 2021 and June 30, 2021 and changes during the periods then ended is presented below:

		December 31, 2021												June 30, 2021
						Weight Average				Intrinsic								Weight Average				Intrinsic
		Shares				Exercise Price				Value				Shares				Exercise Price				Value
Outstanding beginning of period			1,030,000			$	0.12								2,870,000			$	0.12
Granted			-			$	0.00								-			$	0.00
Expired/Cancelled			(1,030,000	)		$	(0.12	)							(1,840,000	)		$	(0.12	)
Exercised			-			$	0.00								-			$	0.00
Outstanding end of period			-			$	0. 00			$	-				1,030,000			$	0.12			$	-
Exercisable			-			$	0. 00			$	-				1,030,000			$	0.12			$	-

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- References

No definition available.

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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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