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9. COMMON STOCK
12 Months Ended
Jun. 30, 2019
Equity [Abstract]  
9. COMMON STOCK

On February 8, 2019, the Company increased the number of authorized shares of Common Stock from 250,000,000 up to 1,000,000,000 shares in the sole discretion of the board. The Company has authorized 503,407,666 shares of $0.001 par value per share Common Stock, of which 279,507,995 issued (of which 3,885,000 are to be issued) as of June 30, 2019. The activity surrounding the issuances of the Common Stock is as follows:

 

Fiscal Year Ended June 30, 2019

 

The Company issued 28,150,000 shares of Common Stock for $281,500 in cash as part of a private placement

 

The Company issued 50,583,250 shares of Common Stock for the conversion of notes and accrued interest valued at $486,796.

 

The Company issued 15,635,000, of which 3,885,00 are to be issued shares of Common Stock as payment for services valued at $475,765.

 

As share-based compensation to employees and non-employees, the Company issued 19,851,843 shares of common stock valued at $397,386, based on the market price of the stock on the date of issuance.

 

As part of a provision in a note payable, the Company issued 3,000,000 shares of common stock valued at $90,000 based on the market price on the date of issuance.

 

Fiscal Year Ended June 30, 2018

 

The activity surrounding the issuances of the Common Stock is as follows:

 

The Company agreed to issue 16,200,000 shares of Common Stock for $642,750 in cash as part of a private placement, net of $4,750 of issuance costs, respectively.

 

The Company agreed to issue 28,928,570 shares of Common Stock for the conversion of notes and accrued interest valued at $836,833.

 

The Company agreed to issue 6,098,101 shares of Common Stock as incentive with convertible notes valued at $317,261.

 

The Company agreed to issue 1,415,000 shares of Common Stock for the prepaid consulting services and rent valued at $107,290.

 

The Company agreed to issue 115,000 shares of Common Stock for the extension of two convertible notes valued at $16,897.

 

The Company issued 100,000 shares of Common Stock issued as charitable contributions valued at $7,000.

 

As share-based compensation to employees and non-employees, the Company issued 4,501,592 shares of common stock valued at $353,949, based on the market price of the stock on the date of issuance.

 

As interest expense on outstanding notes payable, the Company agreed to issue 1,280,162 shares of common stock valued at $217,628 based on the market price on the date of issuance.

 

As part of a debt extinguishment, the note holder agreed to cancel 14,837,251 shares of common stock.