8. STOCK PURCHASE OPTIONS AND WARRANTS (Tables)

6 Months Ended

Dec. 31, 2015

Notes to Financial Statements

Schedule of options activity

Date Issued	Number of Options			Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Expiration Date (yrs)		Value if Exercised
Balance June 30, 2015		80,000		$	0.66	$	0.59		1.20	$	52,900
Granted		-			-		-		-		-
Exercised		-			-		-		-		-
Cancelled/Expired		(25,000	)		0.85		-		-		(21,250	)
Outstanding as of December 31, 2015		55,000		$	0.58	$	0.55		1.21	$	31,650

Date Issued	Number of Options			Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Expiration Date (yrs)		Value if Exercised
Balance June 30, 2014		381,429		$	0.55	$	0.12		0.62	$	209,643
Granted		-			-		-		-		-
Exercised		-			-		-		-		-
Cancelled/Expired		(301,429	)		0.52		-		-		(156,743	)
Outstanding as of June 30, 2015		80,000		$	0.66	$	0.59		1.20	$	52,900

Schedule of Assumptions Used to Estimate Fair Value

	December, 31 2015	June 30, 2015
Expected volatility	104-114%	71-142%
Expected dividends	0%	0%
Expected term	3-5 Years	0.25-10 Years
Risk-free interest rate	0.65-1.70%	0.00-2.35%

Schedule of Warrants

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Expiration Date (yrs)		Value if Exercised
Outstanding as of June 30, 2015		31,951,788		$	0.43	$	0.50		4.98	$	13,585,289
Granted		2,088,000			0.61		0.36		4.03		1,273,850
Exercised		-			-		-		-		-
Cancelled/Expired		(370,000	)		-		-		-		(177,300	)
Outstanding as of December 31, 2015		33,669,788		$	0.44	$	0.48		4.50	$	14,681,839

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Expiration Date (yrs)		Value if Exercised
Outstanding as of June 30, 2014		8,332,579		$	0.76	$	0.70		2.96	$	6,370,432
Granted		26,434,199			0.24		0.25		5.56		9,821,607
Exercised		(750,000	)		-		-		-		(160,000	)
Cancelled/Expired		(2,065,000	)		-		-		-		(2,446,750	)
Outstanding as of June 30, 2015		31,951,778		$	0.43	$	0.50		4.98	$	13,585,289