Note 6 - Stockholder's Equity

3 Months Ended

Sep. 30, 2015

Notes

Note 6 - Stockholder's Equity

NOTE 6 – STOCKHOLDER’S EQUITY

Preferred stock

The Company has authorized 400,000 shares of preferred stock, with a par value of $0.0001 per share. As of September 30, 2015 and June 30, 2015, the Company did not have any preferred stock issued and outstanding respectively.

Common stock

The Company has authorized 100,000,000 shares of common stock, with a par value of $0.0001 per share. As of September 30, 2015 and June 30, 2015, the Company had 3,937,236 and 3,847,236 shares of common stock issued and outstanding respectively.

On September 30, 2015 the Company issued 30,000 shares of its common stock to each of its three directors for their services through June 30, 2016. The shares issued were valued at $4.00 per share for a total of $360,000, which was the market price of the stock on the issuance date. Of the total amount $90,000 was recorded as share-based compensation for the quarter ended September 30, 2015 and the balance of $270,000 is recorded as a prepaid expense to be amortized ratably over the subsequent three quarters.

On June 30, 2015, the Company received subscriptions for the purchase of 175,000 shares of its common stock totaling $393,750. The Company received cash for the full subscriptions in July 2015.