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10. RELATED PARTY TRANSACTIONS
3 Months Ended
Sep. 30, 2019
Related Party Transactions [Abstract]  
10. RELATED PARTY TRANSACTIONS

On August 8, 2016, the Company issued a convertible note to a daughter of a director of the Company, for $30,000 as of September 30, 2019 and June 30, 2019. The note bears an interest rate of 0% per annum and is convertible into shares of the Company’s Common Stock at $0.40 per share.

 

From September 2017 to June 2019, the Company issued convertible notes to a director and officer of the Company for $89,500 as of September 30, 2019 and June 30, 2019. The notes bear an average interest rate of 0% per annum and is convertible into shares of the Company’s Common Stock at $0.10 per share.

 

On November 15, 2016, the Company issued notes to a director and officer of the Company, for $5,000. The note bears an average interest rate of 0% per annum.

 

From February 2017 to August 2019, the Company issued notes to a director and officer of the Company for $270,000 and $255,000 as of September 30, 2019 and June 30, 2019, respectively. The notes bear an average interest rate of 0% per annum.

 

As share-based compensation to employees and non-employees, the Company issued 9,328,043 and 2,168,226 shares of common stock valued at $91,068 and $65,407 for three months ended September 30, 2019 and 2018, respectively, based on the market price of the stock on the date of issuance.

 

The company has accrued consulting services in the amount of $194,890 and $161,124 payable to directors for services rendered as of September 30, 2019 and June 30, 2019, respectively.