2.4.0.8000100 - Disclosure - Note 5 - Capital Stock and Warrantstruefalsefalse1false falsefalseD120701_130630http://www.sec.gov/CIK0001407583duration2012-07-01T00:00:002013-06-30T00:00:001true 1us-gaap_DisclosureTextBlockAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Notes2false 2us-gaap_StockholdersEquityNoteDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Note 5 - Capital Stock and Warrants   Authorized   The total authorized capital is 300,000,000 common shares with a par value of $0.001 per common share.   Issued and outstanding   On July 27, 2011, the Company issued 200,000 units (Units) for cash at CDN $0.55 (US $0.58) per Unit. Each Unit consisted of one common share and one half of one common share purchase warrant (each whole such warrant, a Warrant). Each Warrant entitles the holder thereof to acquire one common share of the Company (a Warrant Share) at a price of CDN$0.75 until the date which is 60 months following the closing date of the private placement offering (the Warrant Term), provided, however, that the Company may accelerate the Warrant Term under certain conditions.  For the purpose of determining the allocation of gross proceeds between the shares and warrants which comprise the Units, in accordance with FASB ASC 815-40, the Company allocated US $105,591 of the gross proceeds to the 200,000 common shares and US $10,409 to the 100,000 whole warrants, which together comprised the 200,000 Units, for total gross proceeds of US $116,000.  The pro-rata allocation basis was determined using the proportion of the fair market value of the underlying common shares of the Company and the proportion of fair value of the warrants, which was calculated using the Black-Scholes valuation model.   On August 4, 2011, the Company issued 1,000,000 units (Units) for cash at CDN $0.55 (US $0.57) per Unit. Each Unit consisted of one common share and one half of one common share purchase warrant (each whole such warrant, a Warrant). Each Warrant entitles the holder thereof to acquire one common share of the Company (a Warrant Share) at a price of CDN$0.75 until the date which is 60 months following the closing date of the private placement offering (the Warrant Term), provided, however, that the Company may accelerate the Warrant Term under certain conditions. For the purpose of determining the allocation of gross proceeds between the shares and warrants which comprise the Units, in accordance with FASB ASC 815-40, the Company allocated US $517,883 of the gross proceeds to the 1,000,000 common shares and US $52,117 to the 500,000 whole warrants, which together comprised the 1,000,000 Units, for total gross proceeds of US $570,000.  The pro-rata allocation basis was determined using the proportion of the fair market value of the underlying common shares of the Company and the proportion of fair value of the warrants, which was calculated using the Black-Scholes valuation model.   On November 10, 2011, Liberty Silver issued 6,500,000 subscription receipts to an investor (the Subscription Receipts) pursuant to a private placement at a price of US $0.50 per Subscription Receipt for gross proceeds of US $3,250,000; there were no underwriting discounts or commissions paid.  On December 19, 2011, each Subscription Receipt was automatically converted for no additional consideration, into one unit of the Company (a Unit) as a result of the Companys receipt of notice that its common stock was accepted for trading on the Toronto Stock Exchange under the trading symbol, LSL, effective as of December 22, 2011.  Each Unit is comprised of one common share and one common share purchase one warrant (Warrant). Each Warrant is exercisable at a price of US $0.65 per share at any time until 5:00 p.m. (Toronto time) on December 31, 2013.  For the purpose of determining the allocation of gross proceeds between the shares and warrants which comprise the Units, in accordance with FASB ASC 815-40, the Company allocated $2,375,007 of the gross proceeds to the 6,500,000 common shares and $874,993 to the 6,500,000 warrants, which together comprised the 6,500,000 Units, for total gross proceeds of $3,250,000.  The pro-rata allocation basis was determined using the proportion of the fair market value of the underlying common shares of the Company and the proportion of fair value of the warrants, which was calculated using the Black-Scholes valuation model.  In conjunction with the issuance of Subscription Receipts, the Company entered into a Registration Rights Agreement (the Registration Rights Agreement) with the investor, pursuant to which the Company agreed, following the conditional approval by the Toronto Stock Exchange, to file a registration statement on Form S-1 with the Securities and Exchange Commission which registers the common stock and common stock underlying the Warrants acquired by the investor for resale.  If the registration statement did not become effective on or before six months from the date of conditional approval by the Toronto Stock Exchange for the listing of the common stock of the Company, the investor would receive an additional common share for each ten (10) common shares.  On May 31, 2012, the Company issued 650,000 common shares in satisfaction of this contractual obligation, the value for which of $416,000 was determined by the closing market price of $0.64 per share on the date of issuance.   On December 19, 2011, Liberty Silver completed a private placement offering, pursuant to which the Company raised a total of US $1,313,750 through the: sale of 2,107,500 units (Units) at a purchase price of US $0.50 per Unit; the issuance of 300,000 Units at an issuance price of US $0.50 per Unit for the settlement of related party notes; and, the issuance of 220,000 Units at an issuance price of US $0.50 per Unit in exchange for services.  There were no underwriting discounts or commissions paid.  Each Unit consists of one common share and one common share purchase warrant (a Warrant).  Each Warrant entitles the holder to acquire one common share at a price of US $0.65 for a period of two years following the date of the closing of the financing. For the purpose of determining the allocation of total capital raised between the shares and warrants which comprise the Units, in accordance with FASB ASC 815-40, the Company allocated $960,051 of the capital raised to the total 2,627,500 common shares and $353,699 to the total 2,627,500 warrants, which together comprised the total 2,627,500 Units, for total capital raised of $1,313,750.  The pro-rata allocation basis was determined using the proportion of the fair market value of the underlying common shares of the Company and the proportion of fair value of the warrants, which was calculated using the Black-Scholes valuation model.  The Units were not registered under the Securities Act of 1933 (the Securities Act) in reliance upon the exemptions from registration contained in Section 4(2) and Regulation D thereunder, and Regulation S of the Securities Act.   On September 28, 2012, the Company issued 100,000 common shares upon the exercise of 100,000 whole warrants at an exercise price of CDN $0.75 per common share, for gross proceeds of CDN $75,000.  The warrants were originally issued pursuant to a private placement offering of 200,000 Units on July 27, 2011.  The Units were comprised of one common share and one half of one common share purchase warrant.   On October 3, 2012, the Company issued 300,000 common shares upon the exercise of 300,000 whole warrants at an exercise price of CDN $0.75 per common share, for gross proceeds of CDN $225,000.  The warrants were originally issued pursuant to a private placement offering of 1,000,000 Units on August 4, 2011.  The Units were comprised of one common share and one half of one common share purchase warrant.   On October 15, 2012, in connection with the acquisition of the Hi Ho Properties as described in Note 3 Mineral property, the Company issued 2,583,333 common shares.  The common shares were valued at $0.72 per share for a total value of $1,860,000 for the shares.   On November 27, 2012, the Company issued 20,000 common shares upon the exercise of 20,000 whole warrants at an exercise price of $0.65 per common share, for gross proceeds of US $13,000. The warrants were originally issued pursuant to a private placement offering of 2,627,500 Units on December 19, 2011.  The Units were comprised of one common share and one common share purchase warrant.   On March 1, 2013, in connection with the acquisition of the Hi Ho Properties as described in Note 3 Mineral property, the Company issued an additional 277,778 common shares pursuant to the Registration Rights Agreement.   For the above share issuances, the shares were not registered under the Securities Act of 1933 in reliance upon the exemptions from registration contained in Regulation S of the Securities Act of 1933. No underwriters were used, nor were any brokerage commissions paid in connection with the above share issuances.   As of June 30, 2013, the Company had 83,991,945 shares of the common stock issued and outstanding.   Stock warrants   On July 27, 2011, the Company issued 200,000 units (Units) for cash at CDN $0.55 (US $0.58) per Unit. Each Unit consisted of one common share and one half of one common share purchase warrant (each whole such warrant, a Warrant). Each Warrant entitles the holder thereof to acquire one common share of the Company (a Warrant Share) at a price of CDN$0.75 until the date which is 60 months following the closing date of the private placement offering (the Warrant Term), provided, however, that the Company may accelerate the Warrant Term under certain conditions.  For the purpose of determining the allocation of gross proceeds between the shares and warrants which comprise the Units, in accordance with FASB ASC 815-40, the Company allocated US $105,591 of the gross proceeds to the 200,000 common shares and US $10,409 to the 100,000 whole warrants, which together comprised the 200,000 Units, for total gross proceeds of US $116,000.  The pro-rata allocation basis was determined using the proportion of the fair market value of the underlying common shares of the Company and the proportion of fair value of the warrants, which was calculated using the Black-Scholes valuation model.   On August 4, 2011, the Company issued 1,000,000 units (Units) for cash at CDN $0.55 (US $0.57) per Unit. Each Unit consisted of one common share and one half of one common share purchase warrant (each whole such warrant, a Warrant). Each Warrant entitles the holder thereof to acquire one common share of the Company (a Warrant Share) at a price of CDN$0.75 until the date which is 60 months following the closing date of the private placement offering (the Warrant Term), provided, however, that the Company may accelerate the Warrant Term under certain conditions.  For the purpose of determining the allocation of gross proceeds between the shares and warrants which comprise the Units, in accordance with FASB ASC 815-40, the Company allocated US $517,883 of the gross proceeds to the 1,000,000 common shares and US $52,117 to the 500,000 whole warrants, which together comprised the 1,000,000 Units, for total gross proceeds of US $570,000.  The pro-rata allocation basis was determined using the proportion of the fair market value of the underlying common shares of the Company and the proportion of fair value of the warrants, which was calculated using the Black-Scholes valuation model.   On November 10, 2011, Liberty Silver issued 6,500,000 subscription receipts to an investor (the Subscription Receipts) pursuant to a private placement at a price of US$ 0.50 per Subscription Receipt for gross proceeds of US $3,250,000; there were no underwriting discounts or commissions paid.  On December 19, 2011, each Subscription Receipt was automatically converted for no additional consideration, into one unit of the Company (a Unit) as a result of the Companys receipt of notice that its common stock was accepted for trading on the Toronto Stock Exchange under the trading symbol, LSL, effective as of December 22, 2011.  Each Unit is comprised of one common share and one common share purchase one warrant (Warrant). Each Warrant is exercisable at a price of US $0.65 per share at any time until 5:00 p.m. (Toronto time) on December 31, 2013.  For the purpose of determining the allocation of gross proceeds between the shares and warrants which comprise the Units, in accordance with FASB ASC 815-40, the Company allocated $2,375,007 of the gross proceeds to the 6,500,000 common shares and $874,993 to the 6,500,000 warrants, which together comprised the 6,500,000 Units, for total gross proceeds of $3,250,000.  The pro-rata allocation basis was determined using the proportion of the fair market value of the underlying common shares of the Company and the proportion of fair value of the warrants, which was calculated using the Black-Scholes valuation model.   In conjunction with the issuance of Subscription Receipts, the Company entered into a Registration Rights Agreement (the Registration Rights Agreement) with the investor, pursuant to which the Company has agreed, following the conditional approval by the Toronto Stock Exchange, to file a registration statement on Form S-1 with the Securities and Exchange Commission which registers the common stock and common stock underlying the Warrants acquired by the Investor for resale.  If the registration statement does not become effective on or before six months from the date of conditional approval by the Toronto Stock Exchange for the listing of the common stock of the Company, Investor shall receive an additional common share and Warrant for, respectively, each ten (10) common shares.    On December 19, 2011, Liberty Silver completed a private placement offering, pursuant to which the Company raised a total of US $1,313,750 through the: sale of 2,107,500 units (Units) at a purchase price of US $0.50 per Unit; the issuance of 300,000 Units at an issuance price of US $0.50 per Unit for the settlement of related party notes; and, the issuance of 220,000 Units at an issuance price of US $0.50 per Unit in exchange for services.  There were no underwriting discounts or commissions paid.  Each Unit consists of one common share and one common share purchase warrant (a Warrant).  Each Warrant entitles the holder to acquire one common share at a price of US $0.65 for a period of two years following the date of the closing of the financing. For the purpose of determining the allocation of total capital raised between the shares and warrants which comprise the Units, in accordance with FASB ASC 815-40, the Company allocated $960,051 of the capital raised to the total 2,627,500 common shares and $353,699 to the total 2,627,500 warrants, which together comprised the total 2,627,500 Units, for total capital raised of $1,313,750.  The pro-rata allocation basis was determined using the proportion of the fair market value of the underlying common shares of the Company and the proportion of fair value of the warrants, which was calculated using the Black-Scholes valuation model.  The Units were not registered under the Securities Act of 1933 (the Securities Act) in reliance upon the exemptions from registration contained in Section 4(2) and Regulation D thereunder, and Regulation S of the Securities Act.   On September 28, 2012, the Company issued 100,000 common shares upon the exercise of 100,000 whole warrants at an exercise price of CDN $0.75 per common share, for gross proceeds of CDN $75,000.  The warrants were originally issued pursuant to a private placement offering of 200,000 Units on July 27, 2011.  The Units were comprised of one common share and one half of one common share purchase warrant.   On October 3, 2012, the Company issued 300,000 common shares upon the exercise of 300,000 whole warrants at an exercise price of CDN $0.75 per common share, for gross proceeds of CDN $225,000.  The warrants were originally issued pursuant to a private placement offering of 1,000,000 Units on August 4, 2011.  The Units were comprised of one common share and one half of one common share purchase warrant.   On November 27, 2012, the Company issued 20,000 common shares upon the exercise of 20,000 whole warrants at an exercise price of $0.65 per common share, for gross proceeds of US $13,000. The warrants were originally issued pursuant to a private placement offering of 2,627,500 Units on December 19, 2011.  The Units were comprised of one common share and one common share purchase warrant.   The fair value of warrants was established at the date of grant using the Black-Scholes valuation model with the following underlying assumptions:     <table border="0" cellspacing="0" cellpadding="0" style='border:solid windowtext 1.0pt;text-autospace:none;border-collapse:collapse;border:none'> <tr align="left"> <td width="217" valign="top" style='width:162.9pt;padding:0in 5.4pt 0in 5.4pt'>   </td> <td width="180" valign="top" style='width:135.0pt;padding:0in 5.4pt 0in 5.4pt'> 2013 </td> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt'> 2012 </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> Risk free interest rate: </td> <td width="180" valign="top" style='width:135.0pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> 0.24% - 1.51% </td> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> 0.24% - 1.51% </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.9pt;padding:0in 5.4pt 0in 5.4pt'> Dividend yield </td> <td width="180" valign="top" style='width:135.0pt;padding:0in 5.4pt 0in 5.4pt'> 0% </td> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt'> 0% </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> Volatility </td> <td width="180" valign="top" style='width:135.0pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> 102.90% - 113.77% </td> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> 102.90% - 113.77% </td> </tr> <tr align="left"> <td width="217" valign="top" style='width:162.9pt;padding:0in 5.4pt 0in 5.4pt'> Weighted average remaining life </td> <td width="180" valign="top" style='width:135.0pt;padding:0in 5.4pt 0in 5.4pt'> 1.08 years </td> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt'> 1.63 years </td> </tr> </table>   The following table summarizes information about warrants as of June 30, 2013:   <table border="0" cellspacing="0" cellpadding="0" width="624" style='margin-left:5.4pt;border-collapse:collapse'> <tr style='height:28.2pt'> <td width="198" valign="bottom" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:28.2pt'>   </td> <td width="33" valign="bottom" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:28.2pt'>   </td> <td width="183" valign="bottom" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:28.2pt'> Number of Shares </td> <td width="210" colspan="2" valign="bottom" style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt;height:28.2pt'> Weighted Average Exercise Price </td> </tr> <tr style='height:14.8pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'> Outstanding, July 1, 2009 </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'> - </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'> $ </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'> - </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>           Warrants granted </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1,333,334 </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1.25 </td> </tr> <tr style='height:14.8pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>           Warrants expired </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'> - </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>   </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'> - </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>           </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> </tr> <tr style='height:14.8pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>       Outstanding, June 30, 2010 </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'> 1,333,334 </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'> $ </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'> 1.25 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>       Exercisable, June 30, 2010 </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1,333,334 </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> $ </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1.25 </td> </tr> <tr style='height:14.8pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>   </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>   </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>   </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>   </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> Outstanding, July 1, 2010 </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1,333,334 </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1.25 </td> </tr> <tr style='height:14.8pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>           Warrants granted </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'> 300,000 </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'>   </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.8pt'> 0.55 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>           Warrants exercised </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> - </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> - </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>      Outstanding, June 30, 2011 </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1,633,334 </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> $ </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1.12 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>      Exercisable, June 30, 2011 </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1,633,334 </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> $ </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1.12 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> Outstanding, July 1, 2011 </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1,633,334 </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1.12 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>           Warrants granted </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 9,727,500 </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 0.66 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>           Warrants exercised </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> - </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> - </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>           Warrants expired </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1,333,334 </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 1.25 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>      Outstanding, June 30, 2012 </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 10,027,500 </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> $ </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 0.65 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>      Exercisable, June 30, 2012 </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 10,027,500 </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> $ </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 0.65 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> Outstanding, July 1, 2012 </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 10,027,500 </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 0.66 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>           Warrants granted </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> - </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> - </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>           Warrants exercised </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 420,000 </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 0.72 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>           Warrants expired </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> - </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> - </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>      Outstanding, June 30, 2013 </td> <td width="33" valign="top" style='width:25.05pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 9,607,500 </td> <td width="30" valign="top" style='width:22.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 0.65 </td> </tr> <tr style='height:14.1pt'> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>      Exercisable, June 30, 2013 </td> <td width="33" valign="top" style='width:25.05pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="183" valign="top" style='width:136.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 9,607,500 </td> <td width="30" valign="top" style='width:22.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'>   </td> <td width="180" valign="top" style='width:135.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.1pt'> 0.65 </td> </tr> </table>   The following table summarizes information about stock warrants granted to employees, advisors, investors and board members at June 30, 2013:   <table border="0" cellspacing="0" cellpadding="0" width="667" style='margin-left:4.65pt;border-collapse:collapse'> <tr style='height:15.75pt'> <td width="433" colspan="8" valign="bottom" style='width:324.75pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.75pt'> Warrants Outstanding </td> <td width="20" valign="bottom" style='width:15.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.75pt'>   </td> <td width="214" colspan="3" valign="bottom" style='width:160.5pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.75pt'> Warrants Exercisable </td> </tr> <tr style='height:78.0pt'> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="65" valign="bottom" style='width:48.7pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Range of Exercise Prices </td> <td width="18" valign="bottom" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="112" valign="bottom" style='width:84.2pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Number Outstanding </td> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="92" valign="bottom" style='width:69.2pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Weighted Average Exercise Price </td> <td width="18" valign="bottom" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="84" valign="bottom" style='width:62.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Weighted Average Remaining Contractual Life  (in years) </td> <td width="20" valign="bottom" style='width:15.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="92" valign="bottom" style='width:69.2pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Number of Warrants </td> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="100" valign="bottom" style='width:75.0pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Weighted Average Exercise Price </td> </tr> <tr style='height:15.0pt'> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="65" valign="bottom" style='width:48.7pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="18" valign="bottom" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="112" valign="bottom" style='width:84.2pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="92" valign="bottom" style='width:69.2pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="18" valign="bottom" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="84" valign="bottom" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="20" valign="bottom" style='width:15.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="92" valign="bottom" style='width:69.2pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="100" valign="bottom" style='width:75.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> </tr> <tr style='height:15.0pt'> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="65" valign="bottom" style='width:48.7pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.55 </td> <td width="18" valign="bottom" style='width:13.55pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="112" valign="bottom" style='width:84.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 300,000 </td> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="92" valign="bottom" style='width:69.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.55 </td> <td width="18" valign="bottom" style='width:13.55pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="84" valign="bottom" style='width:62.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.75 </td> <td width="20" valign="bottom" style='width:15.0pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="92" valign="bottom" style='width:69.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 300,000 </td> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="100" valign="bottom" style='width:75.0pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.55 </td> </tr> <tr style='height:15.0pt'> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="65" valign="bottom" style='width:48.7pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.751 </td> <td width="18" valign="bottom" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="112" valign="bottom" style='width:84.2pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 200,000 </td> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="92" valign="bottom" style='width:69.2pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.75 </td> <td width="18" valign="bottom" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="84" valign="bottom" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 3.10 </td> <td width="20" valign="bottom" style='width:15.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="92" valign="bottom" style='width:69.2pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 600,000 </td> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="100" valign="bottom" style='width:75.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.751 </td> </tr> <tr style='height:15.0pt'> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="65" valign="bottom" style='width:48.7pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.65 </td> <td width="18" valign="bottom" style='width:13.55pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="112" valign="bottom" style='width:84.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 9,107,500 </td> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="92" valign="bottom" style='width:69.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.65 </td> <td width="18" valign="bottom" style='width:13.55pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="84" valign="bottom" style='width:62.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.47 </td> <td width="20" valign="bottom" style='width:15.0pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="92" valign="bottom" style='width:69.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 9,127,500 </td> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="100" valign="bottom" style='width:75.0pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.65 </td> </tr> </table> 1. Figure expressed in $CDN   As of June 30, 2013, the aggregate weighted-average intrinsic value of the warrants outstanding and exercisable was $0.  The weighted-average grant-date fair value of warrants outstanding as of June 30, 2013 was $0.65.       Stock options   In October 2010, the Company granted to R. Geoffrey Browne, Chief Executive Officer, 3,000,000 stock options to purchase the Companys common stock at $0.75 per share for a 5 year term, all of which are vested. In addition, the Company granted the directors, Paul Haggis, Timothy Unwin, John Barrington, and George Kent, each 300,000 stock options, for a total of 1,200,000, to purchase the Companys common stock at $0.75 per share for a 5 year term, all of which are vested.   In December 2010, the Company granted director W. Thomas Hodgson 300,000 stock options to purchase the Companys common stock at $0.75 per share for a 5 year term, all of which are vested.   In April 2011, the Company granted consultant Kevin OConnor 100,000 stock options to purchase the Companys common stock at $0.75 per share for a 5 year term, all of which are vested.   In April 2011, the Company granted director and employee John Barrington 500,000 stock options to purchase the Companys common stock at $0.75 per share for a 5 year term, all of which have vested.   In April 2011, the Company granted director and officer William Tafuri 800,000 stock options to purchase the Companys common stock at $0.75 per share for a 5 year term.  Pursuant to the terms of the option agreement, entered into between Mr. Tafuri and the Company, a total of 266,664 options vested immediately upon the grant of the options; the remaining 533,336 options vest over a two year period, and have now all vested.    In April 2011, the Company granted employee H. Rickard Klatt 600,000 stock options to purchase the Companys common stock at $0.75 per share for a 5 year term.  Pursuant to the terms of the option agreement, entered into between Mr. Klatt and the Company, a total of 200,000 options vested immediately upon the grant of the options; the remaining 400,000 options vest over a two year period, and have now all vested.    In January 2012, the Company granted non-qualified stock options of 450,000 shares at an exercise price of $1.00 per share for a 5 year term to Manish Z. Kshatriya, Chief financial Officer and Executive Vice President. Pursuant to the terms of the option agreement, entered into between Mr. Kshatriya and the Company, a total of 150,000 options vest six months from the grant date, 150,000 options will vest 18 months following the grant date, and the remaining 150,000 options vest 30 months following the grant date of the options.   The amount of stock option compensation expense for the year ending June 30, 2013 was $558,728. The expense was calculated using the Black-Scholes pricing model.   The fair value of stock options was established at the date of grant using the Black-Scholes valuation model with the following underlying assumptions:   <table border="0" cellspacing="0" cellpadding="0" style='border:solid windowtext 1.0pt;text-autospace:none;border-collapse:collapse;border:none'> <tr align="left"> <td width="271" valign="top" style='width:203.4pt;padding:0in 5.4pt 0in 5.4pt'>   </td> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt'> 2013 </td> <td width="210" valign="top" style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'> 2012 </td> </tr> <tr align="left"> <td width="271" valign="top" style='width:203.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> Risk free interest rate: </td> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> 0.79% - 2.09% </td> <td width="210" valign="top" style='width:157.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> 0.79%  - 2.09% </td> </tr> <tr align="left"> <td width="271" valign="top" style='width:203.4pt;padding:0in 5.4pt 0in 5.4pt'> Dividend yield </td> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt'> 0% </td> <td width="210" valign="top" style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'> 0% </td> </tr> <tr align="left"> <td width="271" valign="top" style='width:203.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> Volatility </td> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> 95.11% - 164.27% </td> <td width="210" valign="top" style='width:157.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'> 95.11% - 164.27% </td> </tr> <tr align="left"> <td width="271" valign="top" style='width:203.4pt;padding:0in 5.4pt 0in 5.4pt'> Weighted average remaining life </td> <td width="198" valign="top" style='width:148.5pt;padding:0in 5.4pt 0in 5.4pt'> 2.59 years </td> <td width="210" valign="top" style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'> 3.59 years </td> </tr> <tr align="left"> <td width="271" valign="top" style='width:203.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'>   </td> <td width="198" valign="top" style='width:148.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'>   </td> <td width="210" valign="top" style='width:157.5pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt'>   </td> </tr> </table>   The following table summarizes information about options as of June 30, 2013:   <table border="0" cellspacing="0" cellpadding="0" width="675" style='margin-left:4.65pt;border-collapse:collapse'> <tr style='height:28.65pt'> <td width="265" valign="bottom" style='width:198.75pt;padding:0in 5.4pt 0in 5.4pt;height:28.65pt'>   </td> <td width="21" valign="bottom" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:28.65pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:28.65pt'> Number of Shares </td> <td width="31" valign="bottom" style='width:23.3pt;padding:0in 5.4pt 0in 5.4pt;height:28.65pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:28.65pt'> Weighted Average Exercise Price </td> </tr> <tr style='height:15.05pt'> <td width="265" valign="bottom" style='width:198.75pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> Outstanding, July 1, 2010 </td> <td width="21" valign="bottom" style='width:15.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> - </td> <td width="31" valign="bottom" style='width:23.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> $ </td> <td width="179" valign="bottom" style='width:134.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> - </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>           Options granted </td> <td width="21" valign="bottom" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> 6,500,000 </td> <td width="31" valign="bottom" style='width:23.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> 0.75 </td> </tr> <tr style='height:15.05pt'> <td width="265" valign="bottom" style='width:198.75pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>           Options expired </td> <td width="21" valign="bottom" style='width:15.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> - </td> <td width="31" valign="bottom" style='width:23.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> - </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>           Options cancelled </td> <td width="21" valign="bottom" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> <td width="31" valign="bottom" style='width:23.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> </tr> <tr style='height:15.05pt'> <td width="265" valign="bottom" style='width:198.75pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>       Outstanding, June 30, 2011 </td> <td width="21" valign="bottom" style='width:15.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> 6,500,000 </td> <td width="31" valign="bottom" style='width:23.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> $ </td> <td width="179" valign="bottom" style='width:134.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> - </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>       Exercisable, June 30, 2011 </td> <td width="21" valign="bottom" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> 6,500,000 </td> <td width="31" valign="bottom" style='width:23.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> $ </td> <td width="179" valign="bottom" style='width:134.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> </tr> <tr style='height:15.05pt'> <td width="265" valign="bottom" style='width:198.75pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="21" valign="bottom" style='width:15.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="31" valign="bottom" style='width:23.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> </tr> <tr style='height:15.05pt'> <td width="265" valign="bottom" style='width:198.75pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> Outstanding, July 1, 2011 </td> <td width="21" valign="bottom" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> 6,500,000 </td> <td width="31" valign="bottom" style='width:23.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> $ </td> <td width="179" valign="bottom" style='width:134.2pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> 0.75 </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>           Options granted </td> <td width="21" valign="bottom" style='width:15.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> 450,000 </td> <td width="31" valign="bottom" style='width:23.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> 1.00 </td> </tr> <tr style='height:15.05pt'> <td width="265" valign="bottom" style='width:198.75pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>           Options expired </td> <td width="21" valign="bottom" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> - </td> <td width="31" valign="bottom" style='width:23.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> - </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>           Options cancelled </td> <td width="21" valign="bottom" style='width:15.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> <td width="31" valign="bottom" style='width:23.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> </tr> <tr style='height:15.05pt'> <td width="265" valign="bottom" style='width:198.75pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>       Outstanding, June 30, 2012 </td> <td width="21" valign="bottom" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> 6,950,000 </td> <td width="31" valign="bottom" style='width:23.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> $ </td> <td width="179" valign="bottom" style='width:134.2pt;padding:0in 5.4pt 0in 5.4pt;height:15.05pt'> 0.88 </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>       Exercisable, June 30, 2012 </td> <td width="21" valign="bottom" style='width:15.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> 6,500,000 </td> <td width="31" valign="bottom" style='width:23.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> $ </td> <td width="179" valign="bottom" style='width:134.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> 0.75 </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> Outstanding, July 1, 2012 </td> <td width="21" valign="bottom" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> 6,950,000 </td> <td width="31" valign="bottom" style='width:23.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> 0.88 </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>           Options granted </td> <td width="21" valign="bottom" style='width:15.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> <td width="31" valign="bottom" style='width:23.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>           Options expired </td> <td width="21" valign="bottom" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> <td width="31" valign="bottom" style='width:23.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>           Options cancelled </td> <td width="21" valign="bottom" style='width:15.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> <td width="31" valign="bottom" style='width:23.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>       Outstanding, June 30, 2013 </td> <td width="21" valign="bottom" style='width:15.4pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> 6,950,000 </td> <td width="31" valign="bottom" style='width:23.3pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> </tr> <tr style='height:14.3pt'> <td width="265" valign="bottom" style='width:198.75pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>       Exercisable, June 30, 2013 </td> <td width="21" valign="bottom" style='width:15.4pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="180" valign="bottom" style='width:134.9pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> 6,650,000 </td> <td width="31" valign="bottom" style='width:23.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'>   </td> <td width="179" valign="bottom" style='width:134.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:14.3pt'> - </td> </tr> </table>   The following table summarizes information about stock warrants granted to employees, advisors, investors and board members at June 30, 2013:   <table border="0" cellspacing="0" cellpadding="0" width="684" style='margin-left:4.65pt;border-collapse:collapse'> <tr style='height:15.75pt'> <td width="445" colspan="8" valign="bottom" style='width:333.75pt;padding:0in 5.4pt 0in 5.4pt;height:15.75pt'> Stock Options Outstanding </td> <td width="20" valign="bottom" style='width:15.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.75pt'>   </td> <td width="219" colspan="3" valign="bottom" style='width:163.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.75pt'> Stock Options Exercisable </td> </tr> <tr style='height:78.0pt'> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="65" valign="bottom" style='width:48.7pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Range of Exercise Prices </td> <td width="18" valign="bottom" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="124" valign="bottom" style='width:93.2pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Number Outstanding </td> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="92" valign="bottom" style='width:69.2pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Weighted Average Exercise Price </td> <td width="18" valign="bottom" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="84" valign="bottom" style='width:62.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Weighted Average Remaining Contractual Life (in years) </td> <td width="20" valign="bottom" style='width:15.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="99" valign="bottom" style='width:73.95pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Number of Options </td> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'>   </td> <td width="98" valign="bottom" style='width:73.7pt;border:none;border-bottom:solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:78.0pt'> Weighted Average Exercise Price </td> </tr> <tr style='height:15.0pt'> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="65" valign="bottom" style='width:48.7pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="18" valign="bottom" style='width:13.55pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="124" valign="bottom" style='width:93.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="92" valign="bottom" style='width:69.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="18" valign="bottom" style='width:13.55pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="84" valign="bottom" style='width:62.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="20" valign="bottom" style='width:15.0pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="99" valign="bottom" style='width:73.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="98" valign="bottom" style='width:73.7pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> </tr> <tr style='height:15.0pt'> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="65" valign="bottom" style='width:48.7pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.75 </td> <td width="18" valign="bottom" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="124" valign="bottom" style='width:93.2pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 6,500,000 </td> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="92" valign="bottom" style='width:69.2pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.75 </td> <td width="18" valign="bottom" style='width:13.55pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="84" valign="bottom" style='width:62.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 2.48 </td> <td width="20" valign="bottom" style='width:15.0pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="99" valign="bottom" style='width:73.95pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 6,500,000 </td> <td width="22" valign="bottom" style='width:16.3pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="98" valign="bottom" style='width:73.7pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 0.75 </td> </tr> <tr style='height:15.0pt'> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="65" valign="bottom" style='width:48.7pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 1.00 </td> <td width="18" valign="bottom" style='width:13.55pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="124" valign="bottom" style='width:93.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 450,000 </td> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="92" valign="bottom" style='width:69.2pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 1.00 </td> <td width="18" valign="bottom" style='width:13.55pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="84" valign="bottom" style='width:62.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 4.38 </td> <td width="20" valign="bottom" style='width:15.0pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'>   </td> <td width="99" valign="bottom" style='width:73.95pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 450,000 </td> <td width="22" valign="bottom" style='width:16.3pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> $ </td> <td width="98" valign="bottom" style='width:73.7pt;background:#CCFFCC;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> 1.00 </td> </tr> </table>     As of June 30, 2013, the aggregate intrinsic value of the stock options outstanding and exercisable was $0. The weighted-average grant-date fair value of stock options granted for the year ended June 30, 2013 was $0.88.  falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. 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