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Note 7 - Shareholders' Equity (Deficit)
9 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Note 7 - Shareholders' Equity (Deficit)

7. SHAREHOLDERS’ EQUITY (DEFICIT) 

 

Common Stock

 

As of March 31, 2019, and June 30, 2018, there were 117,959,674 and 17,239,093 shares of common stock issued and outstanding, respectively.

 

During the nine months ended March 31, 2019, the Company issued 10,386,102 shares of common stock pursuant to subscription agreements between $0.049 and $0.0875 per share, or $625,538.

 

During the nine months ended March 31, 2019, the Company issued 334,479 shares of common stock to consultants for services valued between $0.0612 and $0.0625 per share, or $20,470.

 

During the nine months ended March 31, 2019, the Company issued 90 million shares of restricted common stock to the officer as compensation for services as Chief Executive Officer.  The shares vest over four years and were valued at $0.0625 per share.  The shares are being expensed over four years, or $1.4 million per year.  For the three and nine months ended March 31, 2019, $351,563 and $722,657 of stock compensation was recognized, respectively.

 

There was no income or expense during the period from March 5, 2018 (inception) to March 31, 2018.

 

The Company determined fair value of its shares of common stock based on the price at which the Company was selling its shares of common stock to third party investors.