14. SUBSEQUENT EVENTS

12 Months Ended

Jun. 30, 2015

Subsequent Events [Abstract]

14. SUBSEQUENT EVENTS

In accordance with ASC 855, Company’s management reviewed all material events through the date of this filing and determined that there were the following material subsequent events to report:

On July 1, 2015, the Company issued 100,000 warrants that have an exercise price of $.25 over a five year period as part of an employment agreement. The warrants were valued using Black-Scholes pricing model under the assumptions of: an expected volatility of 247.01%, Expected dividends of 0, expected term of 5 years, stock price of $.70, and risk-free rate of 1.70%. The Company apportioned value to the warrants based on the relative fair market value of the Common Stock and warrants was $60,784, which was recorded as an expense and included in the derivative liability.

On July 30, 2015, the Company issued 53,115 shares of Common stock as part of debt conversion of a note dated July 18, 2014 for $5,000 of principal and $312 of accrued interest converted at $.10 per share.

On July 30, 2015, the Company issued 106,329 shares of Common stock as part of debt conversion of a note dated July 10, 2014 for $10,000 of principal and $633 of accrued interest converted at $.10 per share.

On August 28, 2015, the Company held a special meeting of the shareholders. At the meeting, the shareholders approved the following:

(i) An amendment to the Company’s Certificate of Incorporation to increase the Company’s authorized common stock, par value $0.001, from one hundred million (100,000,000) to two hundred and fifty million (250,000,000) shares,

(ii) To authorize the Company’s Board of Directors to amend the Company’s Certificate of Incorporation to effect a reverse stock split of the Company’s common stock at a ratio of three (3) shares of pre-split common stock into one (1) shares of common stock at their discretion. The Company has no plan to effect a reverse stock split at this time.

(iii) An amendment to the Company’s Certificate of Incorporation to change the name of the Company from Studio One Media, Inc. to AfterMaster, Inc.

On August 28, 2015, the Company issued 150,000 shares of Common stock as part of an Investor Relation Agreement valued at $75,000 according to market price of $.50 per share. The Company recorded the issuances as a prepaid expense to be amortized over a six month period.

On September 3, 2015, the Company received 600,000 shares of bBooth stock as part of an Asset License term sheet with bBooth valued as an available for sale security at $3 per share for a total value of $1,800,000.