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WARRANTS
 6 Months Ended
Dec. 31, 2021
WARRANTS  
10. WARRANTS

10. WARRANTS

 

As discussed in Note 8, the Company issued warrants in February 2021 to purchase 11,000,000 shares of its common stock in connection with the sale of Series D preferred stock. The Company also issued warrants to purchase 30,000,000 shares of its common stock in April 2021 in connection with the sale of common stock.

 

A summary of the Company’s warrants as of December 31, 2021, and changes during the six months then ended is as follows:

 

 


Shares

 

 


Weighted
Average
Exercise Price

 

 

Weighted Average
Remaining
Contract Term
(Years)

 

 


Aggregate
Intrinsic
Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of June 30, 2021

 

 

41,000,000

 

 

$0.30

 

 

 

 

 

 

 

Granted

 

 

-

 

 

$-

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

$-

 

 

 

 

 

 

 

Forfeited or expired

 

 

-

 

 

$-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding and exercisable as of December 31, 2021

 

 

41,000,000

 

 

$0.30

 

 

 

4.22

 

 

$-

 

The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based on the closing price of our common stock of $0.17 as of December 31, 2021, which would have been received by the holders of in-the-money warrants had the holders exercised their warrants as of that date.