STOCK |
9 Months Ended |
|---|---|
Mar. 31, 2022 | |
| Stockholders' Equity Note [Abstract] | |
| Stockholders' Equity Note Disclosure [Text Block] | NOTE 6 – STOCK
Effective January 1, 2022, the Company renewed the Chief Executive Officer’s Employment Agreement. The new Agreement extends his term of employment to December 31, 2022. Inclusive in this new Agreement is a stock award of 1.68 million shares of the Company’s common stock vesting ratably over 12 months (January 2022 – December 2022), valued at a fixed rate of $0.049 per share, the average price per share of the Company’s common stock for the period December 27, 2021 to December 31, 2021.
On January 1, 2022, 60,000 shares of common stock were granted to the Company’s Chief Financial Officer as part of her employment renewal. These shares of the Company’s common stock vest ratably over 12 months (January 2022 – December 2022) and are valued at a fixed rate of $0.049 per share, the average price per share of the Company’s common stock for the period December 27, 2021 to December 31, 2021.
Effective February 28, 2022, the Board approved director equity compensation awards totaling 500,000 shares for the term ending November 2022. Each non-executive Board member receives 100,000 shares, with the Audit Committee Chair receiving 150,000 shares and the Board Secretary receiving 150,000 shares. The shares vest monthly (in equal installments) February 2022 – November 2022, valued at a fixed rate of $0.049, the average price per share of the Company’s common stock for the period December 27, 2021 to December 31, 2021. |