Stock Options (Tables)

12 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Summary of Stock Options

A summary of stock options as of June 30, 2020 and for the two years then ended is as follows:

	Number of Shares		Weighted - Average Exercise Price
Outstanding at June 30, 2018		2,500,000	$	0.08
Granted		1,150,000		0.03
Forfeited		—	$	—
Outstanding at June 30, 2019		3,650,000	$	0.06
Granted		—		—
Forfeited		—	$	—
Outstanding at June 30, 2020		3,650,000	$	0.06
Exercisable at June 30, 2020		3,650,000	$	0.06

Fair value of options

The fair value of each option on the date of grant was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	2019
Exercise Price	$	0.03
Stock Price	$	0.03
Risk-free interest rate		2.63	%
Expected volatility		121	%
Expected life (in years)		2.0
Expected dividend yield		0	%

Additional information regarding outstanding options

Additional information regarding options outstanding as of June 30, 2020, is as follows:

Options Outstanding at June 30, 2020								Options Exercisable at June 30, 2020
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
$	0.03		1,150,000		4.48	$	0.03		1,150,000	$	0.03
$	0.08		2,500,000		1.61	$	0.08		2,500,000	$	0.08
			3,650,000						3,650,000