Stockholders’ Equity

6 Months Ended

Dec. 31, 2024

Equity [Abstract]

Stockholders’ Equity

Note 5 – Stockholders’ Equity

Stock Warrants

A summary of the Company’s warrant activity and related information for the three months ended December 31, 2024 is as follows: 

	Warrants		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)
Outstanding at June 30, 2024		28,841,323	$	0.080		2.61
Granted		10,700,000		0.013		0.28
Exercised		–		–		–
Expired		–		–		–
Outstanding at December 31, 2024 vested and exercisable		39,541,323	$	0.08		1.91

There was no intrinsic value of the outstanding warrants as of December 31, 2024, as the exercise price of these warrants were greater than the market price.

In November 2024, the Company granted stock warrants to employees and non-employee to purchase 10.7 million shares of common stock. The stock warrants are fully vested upon grant, exercisable at $0.013 per share and will expire in five years. The estimated fair value of these warrants for employees and non-employee amounted to $105,000.

The fair value of a stock warrants award is calculated on the grant date using the Black-Scholes option-pricing model. The risk-free interest rate is based on the U.S. Treasury yield curve in effect as of the grant date. The expected dividend yield assumption is based on the Company’s expectation of dividend payouts and is assumed to be zero. The expected volatility is based on the historical volatility of the Company’s common stock, calculated utilizing a look-back period approximately equal to the expected life of the stock warrants granted. For warrants granted to employees, the expected life of the stock warrants is calculated as the mid-point between the vesting period and the contractual term (the “simplified method”), while the full contractual life for warrants granted to non-employee. The fair market value of the common stock is determined by reference to the quoted market price of the common stock on the grant date.

The following table summarizes additional information concerning warrants outstanding and exercisable at December 31, 2024. 

		Warrants Outstanding						Warrants Exercisable
				Weighted		Weighted				Weighted
				Average		Average				Average
Exercise		Number		Remaining		Exercise		Number		Remaining
Price		of Shares		Life (Years)		Price		of Shares		Life (Years)
$	0.030		5,000,000		5.00	$	0.030		5,000,000		5.00
$	0.090		23,841,323		1.50	$	0.090		23,841,323		1.50
$	0.013		10,700,000		0.28	$	0.013		10,700,000		0.28
			39,541,323						39,541,323