Note 11 - Subsequent Events

3 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events [Text Block]

11. SUBSEQUENT EVENTS:

The Company has evaluated events that occurred subsequent to September 30, 2015 for recognition and disclosure in the financial statements and notes to the financial statements.

From October 1, 2015 through November 9, 2015 the Company has issued 3,161 shares of the Company’s common shares to an employee and a consultant valued at approximately $3,000.

From October 1, 2015 through November 9, 2015, a warrant holder elected to exercise 14,000 warrants into 14,000 shares of the Company’s common stock at an exercise price of $0.75 per share.

The Company entered into an extension agreement with Smith on October 27, 2015 whereby Smith agreed to provide his services to the Company through June 30, 2016 for $19,000 per month commencing January 1, 2016. Pursuant to the agreement, the Company also granted Smith options to purchase common stock of the Company at $0.92 per share until December 31, 2020 and granted Smith 75,000 bonus shares of the Company’s common stock which vested immediately but shall be issued on January 5, 2016. The Company has the option to extend Smith’s services for an additional six months through December 31, 2016 on similar terms.