Stock Options

3 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

NOTE 6 – STOCK OPTIONS

Stock Options

A summary of stock options for the three months ended September 30, 2016 is as follows:

	Number of		Weighted - Average
	Shares		Exercise Price
Outstanding at June 30, 2015		2,510,000		$0.08
Granted		—		$0.00
Forfeited		(10,000)		$0.08
Outstanding at September 30, 2016		2,500,000		$0.08
Exercisable at September 30, 2016		2,500,000		$0.08

At September 30, 2016, the Company had 2,500,000 of options outstanding and exercisable. There were no options granted during the three months ended September 30, 2016 and the Company recognized no stock-based compensation expense related to stock options during the three months ended September 30, 2016 and 2015, respectively. As of September 30, 2016, there was no remaining unrecognized compensation costs related to stock options, and there was no intrinsic value of these options.

Additional information regarding options outstanding as of September 30, 2016 is as follows:

Options Outstanding at September 30, 2016					Options Exercisable at September 30, 2016
			Weighted
			Average	Weighted			Weighted
		Number of	Remaining	Average		Number of	Average
	Range of	Shares	Contractual Life	Exercise		Shares	Exercise
	Exercise	Outstanding	(Years)	Price		Exercisable	Price
	$0.13 - $1.45	2,500,000	3.50	$0.08		2,500,000	$0.08
		2,500,000				2,500,000

The weighted-average remaining contractual life of stock options outstanding and exercisable at September 30, 2016 is 3.50 years.