Stock Based Compensation

6 Months Ended

Dec. 31, 2025

Stock Based Compensation

Stock Based Compensation

Note 12 — Stock Based Compensation

The equity incentive plan of the Company was established in February of 2017. The Board of Directors of the Company may from time to time, in its discretion grant to directors, officers, consultants and employees of the Company, non-transferable options to purchase common shares, provided that the number of options issued do not exceed 25,000,000. The options are exercisable for a period of up to 4 years from the date of the grant. The number of shares authorized to be issued under the equity incentive plan was increased from 10,000,000 to 25,000,000 through consent of stockholders to amend and restate the equity incentive plan. 

The average fair value of stock options granted was estimated to be $0.14 and $0.07 per share for the period ended December 31, 2025 and June 30, 2025. This estimate was made using the Black-Scholes option pricing model and the following weighted average assumptions:

	2025
Expected option life (years)	2-4
Expected stock price volatility	227 to 254		%
Expected dividend yield		-
Risk-free interest rate	0.44 to 0.54		%

A summary of option activity under the employee share option plan as of June 30, 2025 and 2024 and changes during the year then ended is presented below.

	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Price	Aggregate Intrinsic Value
Options:
Outstanding at July 1, 2025		-	$	0.00
Granted		-	$	0.00
Exercised, converted		-	$	0.00
Forfeited / exchanged / modification		-		-
Outstanding at December 31, 2025		-	$	0.00
Exercisable at December 31, 2025		-	$	0.00
Number of options available for grant at end of period		12,517,426

A summary of the status of the Company’s nonvested shares as of and for the period ended December 31, 2025 is presented below

Options	Shares		Weighted-Average Grant-Date Fair Value
Nonvested at July 1, 2025		-	$	-
Granted		-	$	-
Vested		-	$	-
Forfeited		-	$	-
Nonvested at December 31, 2025		-	$	-

Stock-based compensation expense attributable to stock options was approximately $0 and $37,034 for the six months ended December 31, 2025 and 2024, respectively.

As of December 31, 2025 and June 30, 2025, there was approximately $0 and $10,500, respectively, of unrecognized compensation expense related to the stock options outstanding, and the weighted average vesting period for those options was less than a year.

Warrants

At June 30, 2025 and December 31, 2025, the Company had no outstanding warrants to purchase the Company’s common stock as the warrants previously outstanding expired on July 8, 2024.