XML 60 R22.htm IDEA: XBRL DOCUMENT v3.19.3
Subsequent Events
12 Months Ended
Jun. 30, 2019
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

Note 16. SUBSEQUENT EVENTS

 

As of July 1, 2019, the Company issued 600,000 shares of common stock with a fair value of $432,000 to a China based company that specializes in the port agency business and/or its designees pursuant to a consulting service agreement. The scope of services primarily covers business consultation for one year from July 1, 2019 to June 30, 2020. The Company started amortizing the value of these shares to consulting expense from July 1, 2019.

 

Under a board resolution dated January 30, 2016, the CEO is authorized to grant to the employees up to one million shares for the Company's stock incentive plan. On July 22, 2019, the Company granted 90,000 shares of restricted common stock valued at $0.7 per share on the grant date with a fair value of $63,000 under the Plan to one employee, vesting immediately.