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Stock Options And Warrants (Tables)

6 Months Ended

Dec. 31, 2015

Stock Options And Warrants Tables

Schedule of Fair Value Assumptions of Options

The fair value of options granted during the quarter ended December 31, 2015, was determined using the Black Scholes method with the following assumptions:

		Quarter Ended
		12/31/15
Risk free interest rate			6.00	%
Stock volatility factor			171
Weighted average expected option life			7 years
Expected dividend yield			none

Summary of Weighted Average Remaining Contractual Life of Options Outstanding

The weighted average remaining contractual life of options outstanding as of December 31, 2015 was as follows:

								Weighted
								Average
				Number of				remaining
Exercise				options				contractual
prices				outstanding				life (years)
$	0.015				35,000,000				6.61
$	0.013				63,000,000				6.06
$	0.013				15,000,000				6.18
$	0.053				12,500,000				3.58
$	0.004				500,000				5.75
					126,000,000

Summary of Stock Option Activity

A summary of the Company’s stock option activity and related information follows:

		Period ended December 31, 2015
						Weighted
						average
						exercise
		Options				price
Outstanding -beginning of period			91,000,000			$	0.012
Granted			35,000,000				0.015
Exercised			—			$	—
Forfeited			—			$	—
Outstanding - end of period			126,000,000			$	0.013
Exercisable at the end of period			40,052,968			$	0.011
Weighted average fair value of
options granted during the year						$	525,000

Summary of Stock Warrants

During the quarter ended December 31, 2015, the Company issued no warrants for services. A summary of the Company’s warrant activity and related information follows:

		Period ended December 31, 2015
						Weighted
						average
						exercise
		Warrants				price
Outstanding -beginning of period			28,019,163			$	0.003
Granted			—			$	—
Exercised			—			$	—
Forfeited			—			$	—
Outstanding and exercisable - end of period			28,019,163			$	0.003

Summary of Weighted Average Remaining Contractual Life of Warrants Outstanding

The weighted average remaining contractual life of warrants outstanding as of December 31, 2015 was as follows:

								Weighted
								Average
				Number of				remaining
Exercise				options				contractual
prices				outstanding				life (years)
$	0.003				28,019,163				0.27

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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