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Common Stock Warrants (Tables)

12 Months Ended

Jun. 30, 2015

Common Stock Warrants Tables

Summary of expense warrants using assumptions

During the year ended June 30, 2014, the Company issued 2,333,334 warrants at an exercise price of $0.15 per share and 1,500,000 warrants at an exercise price of $0.20 per share in connection with the financing addressed in Note 3. The Company reported $691,667 of expense during the year ended June 30, 2014 related to these warrant issuances. The expense of these warrants was calculated using the Black-Scholes option pricing model using the following assumptions:

Dividend yield		0%
Expected volatility		2.03% – 2.12%
Risk free interest		0.31% - 0.40%
Expected life		2 years

During the year ended June 30, 2015, the Company issued 1,500,000 warrants in connection with the financing addressed in Note 3, of which 1,000,000 can be purchased at $0.10 per share and 500,000 at $0.15 per share. The Company reported $78,133 of expense during the year ended June 30, 2015 related to these warrant issuances. The expense of these warrants was calculated using the Black-Scholes option pricing model using the following assumptions:

Dividend yield		0%
Expected volatility		1.18%
Risk free interest		.50%
Expected life		1 year

Company Stock warrants

		Stock Warrants				Exercise Price				Weighted Ave. Exercise Price

Outstanding and Exercisable, June 30, 2013			4,860,000			$	0.75-1.50			$	0.35

Granted			3,833,334			$	0.15-0.20			$	0.17
Expired/Canceled			-				-				-
Exercised			-				-				-

Outstanding and Exercisable, June 30, 2014			8,693,334			$	0.15-1.50			$	0.28

Granted			1,500,000			$	0.10-0.15			$	0.12
Expired/Canceled			-				-				-
Exercised			-				-				-

Outstanding and Exercisable, June 30, 2015			10,193,334			$	0.10–1.50			$	0.24

Outstanding stock warrants

Number of					Remaining								Weighted
Common Stock					Contracted				Exercise				Ave Exer.
Equivalents			Expir. Date		Life (Years)				Price				Price

50,000			October, 2015			.250			$	0.15			$	0.15
210,000			September, 2015			.250			$	0.15			$	0.15
500,000			December 2015			.500			$	0.75			$	0.75
500,000			December 2015			.500			$	0.15			$	0.15
250,000			December 2015			.500			$	1.00			$	1.00
250,000			December 2015			.500			$	0.15			$	0.15
250,000			December 2015			.500			$	1.50			$	1.50
250,000			December 2015			.500			$	0.15			$	0.15
2,333,334			February 2016			.750			$	0.15			$	0.15
1,500,000			June 2016			1.000			$	0.20			$	0.20
2,600,000			May 2018			2.000			$	0.15			$	0.15
500,000			February 2016			.750			$	0.15			$	0.15
1,000,000			February 2016			.750			$	0.10			$	0.10

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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