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Note 10 - Subsequent Events
 3 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Subsequent Events [Text Block]
10.
     SUBSEQUENT EVENTS:
 
The Company has evaluated events that occurred subsequent to
September 30, 2017
for recognition and disclosure in the financial statements and notes to the financial statements.
 
From
October 1, 2017
through
November 7, 2017,
the Company has issued
3,998
shares of the Company’s common shares to an employee and a consultant for services valued at approximately
$3,000
.
 
From
October 1, 2017
through
November 7, 2017,
the Company sold
12
9
,354
Units of its securities at
$0.75
per Unit for aggregate consideration of approximately
$112,225
.  Each Unit consists of
one
share of common stock and a callable warrant to purchase ½ share of the Company’s common shares at
$1.00
per share until
June 30, 2018.
 
From
October 1, 2017
through
November 7, 2017,
Bassani and Smith loaned the Company
$8,000
and
$3,000,
respectively, for working capital needs.
  The loans are non-interest bearing, are non-collateralized and will be repaid when the Board of Directors determines there is adequate cash available.  As of
November 7,
2017,
the total loans made by Bassani and Smith were
$12,500
and
$18,000,
respectively.
 
On
November 7, 2017
the Company:
 
  a)
granted/issued
3,800,000
options/warrants, in aggregate, exercisable at
$0.75
per share  until
December 31, 2020
to
6
employees/consultants (including
1,765,000
 
to Bassani,
670,000
to Smith and
190,000
to Schafer), which options/warrants include a
90%
exercise bonus (See Note
9
). The exact mix of options and warrants will be determined upon completion of elections by the grantees before the end of
November 2017;
  b)
added an exercise bonus
(See Note
9
) of
50%
to all options/warrants outstanding owned by
5
employees/consultants (including Northrop);
  c)
increased the exercise bonus
(See Note
9
) on outstanding options/warrants owned (or acquired in the future) by Bassani, Smith and Schafer (and/or their respective donees) to
75%
from
50%;
  d)
extended the termination date all options/warrants outstanding owned by: i)
3
persons (including Schafer and Bassani and his donees) to
December 31, 2022
and  ii)
9
persons (including Northrop) to
December 31, 2020;
  e)
granted
1
05,000
options (with
50%
exercise bonus)
(See Note
9
)
exercisable at
$1.00
per share with expiry dates of
December 31, 2020,
which options shall vest
January 1, 2018
to
2
persons (including
80,000
to Northrop);  
  f)
altered the Units to be received in conversion of the
January 2015
Convertible Notes
(owned by Bassani, Smith and Schafer) to
increase the number of warrants to be received upon conversion from ¼ to ½ warrant per Unit (See Note
7
).
 
On
November 7,
the Compa
ny, with consent verbally granted by each party between
October 14
and
November 7, 2017
,  cancelled approximately
$2,435
,000
of
 deferred compensation (including accruals through
November 30, 2017
and interest thereon) owed to
6
persons (including approximately
$1,147,
000
owed to Bassani, approximately
$417
,000
owed to Smith and approximately
$121,000
owed to Schafer) with existing agreements continuing for deferred compensation accruals starting
December 1, 2017 (
See Note
5
).