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Shares issued for service
6 Months Ended
Dec. 31, 2014
Shares Issued For Service  
Shares issued for service

10. Shares issued for service

 

On December 23, 2014, the Board approved the issuance of 10,492,460 shares as part of a management and employees retention stock award program. The stock price was $0.04 on the approval day. The Company recorded $541,668 stock compensation expense for the six months ended December 31, 2014.

 

On September 18, 2013, the Board approved the issuance of 2,500,000 restricted common shares as the compensation for consulting service. The stock price was $0.7 on the approval day. The Company recorded $1,750,000 stock compensation expense for the six months ended December 31, 2014.

 

On January 15, 2014, the Board approved the issuance of 1,500,000 restricted common shares as the compensation for consulting service. The stock price was $0.07 on the approval day. The Company recorded $405,000 stock compensation expense for the six months ended December 31, 2014.