Stock Options

12 Months Ended

Jun. 30, 2018

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

Stock Options

NOTE 7 – STOCK OPTIONS

A summary of stock options as of June 30, 2018 and for the two years then ended is as follows:

	Number of Shares		Weighted - Average Exercise Price
Outstanding at June 30, 2016		2,500,000	$	0.08
Granted		—		—
Forfeited		—	$	0.08
Outstanding at June 30, 2017		2,500,000	$	0.08
Granted		—		—
Forfeited		—	$	0.08
Outstanding at June 30, 2018		2,500,000	$	0.08
Exercisable at June 30, 2018		2,500,000	$	0.08

The Company has agreements with certain employees that provide for five years of annual grants of options, on each employment anniversary date, to purchase shares of the Company’s common stock. The option price is determined based on the market price on the date of grant, the options vest one year from the date of grant, and the options expire five years after vesting. The Company granted 2,500,000 options under this arrangement. There were no options granted in 2018 and 2017 under this agreement. Both the outstanding and exercisable stock options had no intrinsic value at June 30, 2018.

Additional information regarding options outstanding as of June 30, 2018 is as follows:

Options Outstanding at June 30, 2018								Options Exercisable at June 30, 2018
Range of Exercise		Number of Shares Outstanding		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of Shares Exercisable		Weighted Average Exercise Price
$	0.08		2,500,000		1.64	$	0.08		2,500,000	$	0.08
			2,500,000						2,500,000