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NOTE 6. STOCKHOLDERS' EQUITY
9 Months Ended
Jul. 02, 2017
Notes  
NOTE 6. STOCKHOLDERS' EQUITY

NOTE 6. STOCKHOLDERS’ EQUITY

 

Shares of common stock issued for service to the Company are valued based on market price on the date of issuance. On December 20, 2016, the Company awarded a total of 150,000 shares of its common stock to six Directors for their service on the Board of Directors at a fair market value of $0.108 per share or $16,200, which was reported as an expense in the first quarter of the 2017 fiscal year. On December 18, 2015, the Company awarded 150,000 shares of its common stock to six Directors for their service on the Board of Directors at a fair market value of $0.055 per share or $8,250, which was reported as an expense in the first quarter of the 2016 fiscal year.

 

Officers, Directors and their controlled entities own approximately 55.6% of the outstanding common stock of the Company as of July 2, 2017.