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Shares issued for service
9 Months Ended
Mar. 31, 2015
Shares Issued For Service  
Shares issued for service

10. Shares issued for service

 

On March 19, 2015, the Board approved the issuance of 1,000,000 restricted common shares as the compensation for consulting service. The stock price was $0.07 on the approval day. The Company recorded $30,000 stock compensation expense for the nine months ended March 31, 2015.

 

On February 1, 2015, the Company entered a consulting service agreement with an individual for the issuance of 1,000,000 restricted common shares as the compensation for its consulting service. The stock price was $0.10 on the approval day. The Company recorded $30,000 stock compensation expense for the nine months ended March 31, 2015.

 

On January 1, 2015, the Company entered a consulting and marketing agreement with a consulting firm for the issuance of 2,000,000 restricted common shares in exchange for the marketing and sales related services. The stock price was $0.04 on the approval day. The Company recorded $80,000 stock compensation expense for the nine months ended March 31, 2015.

 

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 nine months ended March 31, 2015.

 

On January 15, 2014, the Company entered a consulting service agreement with an individual for the issuance of 1,500,000 restricted common shares as the compensation for its consulting service. The stock price was $0.07 on the approval day. The Company recorded $405,000 stock compensation expense for the nine months ended March 31, 2015.

 

On September 18, 2013, the Board approved the issuance of 2,500,000 restricted common shares as the compensation for management service. On November 11, 2014, the Company and the consultant entered an amendment to the management agreement and both party agreed the 2,500,000 shares would be rewarded to the consult at his resignation date. The stock price was $0.7 on the approval day. The Company recorded $1,750,000 stock compensation expense for the nine months ended March 31, 2015.