STOCK OPTIONS

12 Months Ended

Jun. 30, 2022

Stock Options

STOCK OPTIONS

NOTE 10– STOCK OPTIONS

On August 3, 2021, the Company granted 1,000,000 options to Johnny Forzani, CEO, 250,000 options to Geoff Stanbury, director, and 250,000 options to Tom Forzani, Director. The options were issued pursuant the Company’s 2021 Equity Award Plan. The options are exercisable at $0.05, are immediately vested and expire in two years.

The aggregate fair value of the 1,500,000 options, totaled $854,550 based on the Black Scholes Merton pricing model using the following estimates: exercise price of $0.05, 0.17% risk free rate, 704.9% volatility and expected life of the options of 2 years.

A summary of the status of the Company’s outstanding stock options and changes during the year ended June 30, 2022 is presented below:

Stock Options	Options		Weighted Average Exercise Price		Aggregate Intrinsic Value
Options outstanding at June 30, 2021		—	$	—		—
Granted		1,500,000		0.05		—
Exercised		(500,000	$	—
Expired		—	$	—
Options outstanding at June 30, 2022		1,000,000	$	0.05
Options exercisable at June 30, 2022		1,000,000	$	0.05	$	—